How much is your net worth?, gauging your financial performance.
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 May 10 2011, 04:29 PM
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#21
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Senior Member
4,436 posts Joined: Oct 2008  
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QUOTE(Fall guy @ May 9 2011, 11:26 PM) Wow, u earn RM3k a month and have a RM122k FD? That is very impressive. How did u do it? What the H3LL is your RM 122K doing in FD sleeping? Xuzen |
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Apr 7 2013, 11:51 AM
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#22
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Senior Member
4,436 posts Joined: Oct 2008
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QUOTE(gark @ Apr 6 2013, 01:09 PM) Got 6 figure or not...? Woo hoo, my actual net-worth is 5 times more than the formula.....To see if you have the required networth for your age use the following formula ... Thomas J. Stanley's and William D. Danko's expected net worth formulas Formula 1: Expected net worth = age x 0.1 x gross income. Formula 2: Expected net worth = age x 0.112 x gross income. Marotta Asset Management's expected net worth formulas Formula 3: Expected net worth = (adult years / 240 + 0.1) x adult years x gross income; where "adult years" = age - 20. Formula 4: Expected net worth = [(age / 166) - 0.15] x age x gross income. Gross income is before tax per year. You all can calculate if you all pass or fail....  Report here.  Xuzen |
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Sep 9 2020, 06:57 PM
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#23
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Senior Member
4,436 posts Joined: Oct 2008
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I have been a long time contributor to the LYN forum especially the Finance Section. Here is my piece. It is on this month of Sep 2020, that my KWSP + PRS + UTF + CASA exceeded the One M mark. Of course the KWSP contribute the highest percentage of it. Please note that I have two decades more of working life before mandatory retirement, but since I work in SME, this may or may not be applicable to me. Yes, nowadays many people can be millionaire even in their twenties. However, I have been a salaryman most of my life with prudence spending, savings then investing to accumulate my wealth. I practice the concept of pay myself first, spending what is left over. I do not have fancy investment products, no crypto, no modern stuff, just plain ol'Unit Trust + KWSP + PRS which are all basically mutual funds except in name. When I hit this milestone, do I suddenly want to go out an buy a Beemer or a Merc? No way Jose! I am still perfectly happy to drive my eight years old Honda City and my wife is happily driving a more than ten year old MyVi. Furthermore my mum drives the Honda mainly for her grocery shopping and I happily commute to work in my boss' old Toyota Camry 2.2 ( so called Company Car ) So I stand here to tell you all, being a salaryman or Joe Average can still be a Millionaire. You just need to be financially prudence and watch your spending. Xuzen LOvebugs, polarzbearz, and 11 others liked this post
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Sep 12 2020, 09:17 PM
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#24
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Senior Member
4,436 posts Joined: Oct 2008
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QUOTE(lee82gx @ Sep 12 2020, 09:03 PM) Bro, yournett worth includes wife / spouse income? Mine alone |
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Sep 13 2020, 07:45 AM
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#25
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Senior Member
4,436 posts Joined: Oct 2008
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QUOTE(lee82gx @ Sep 12 2020, 10:11 PM) Kudos, sorry to ask again, does this also include your assets - loans? Such as house - housing loan... Just liquid asset. I do not have any loan at the moment, My residing house has been fully paid up whilst my vehicle loan has been settled. Recall I said earlier my Honda City is eight years old & my wife's Myvi is more than ten years old. I do not have any desire to take up fresh loan at the moment. Xuzen p/s my biggest expense is now onto my children education. I have two kids and they are both in private school. The eldest is going to college in the near future. This post has been edited by xuzen: Sep 13 2020, 07:50 AM lee82gx liked this post
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Sep 22 2020, 11:04 AM
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#26
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Senior Member
4,436 posts Joined: Oct 2008
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QUOTE(cklimm @ Sep 22 2020, 07:55 AM) I have waited for decades to cashout those funds stuck in epf, not going back anytime. Unker!It just feels great seeing those pallets of goods stacked neatly with each other  Good troll. Xuzen |
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