Just plain old excel

Hi, want to share my experience…

My wife and I came from middle class families. Both of us graduated from Australian universities in the 90s, courses paid for by our parents. I managed to attain 1M net asset 7 years after working. However, due to financial obligations to siblings, parents from both sides and own family, wealth accumulation had been slower than I expected. Things only brightened up the last few years after obligations to siblings have been fulfilled according to my parent’s wish.
Now I work 11 hr day, 6 day week, including public holidays, down from 14hrs previously, will reduce to 8-9 hrs next year to spend time with family

Salary – 25% our monthly income.
Private fund management. – 75% of total income.

Age: 50+

Assets:
Five properties, estimated 22M
Two 10-year old cars worth 30k
Equities invested in various countries about 12M.
EPF 1M
Business – Not appraised.

Liabilities
Loan – 5.5M

Feel free to comment.

This post has been edited by newbie99: Apr 26 2024, 05:03 PM

Glad to see many posting here with a lot of wealth but driving ordinary cars only.

the real rich don't need to flaunt their wealth... they keep and growing wealth. Only the "fake-it-till-they-make it"
Car is a Liability

U can achieve good return through trial and error too. Financial freedom can be achieve easily if u master these 3 things. Saving, Investing, Leveraging

Seriously? How u manage to do that. Mind to share your investing journey? U r the top 0.1 percent in Malaysia.

This post has been edited by koaydarren: Apr 26 2024, 05:47 PM

Ok. It's a long 37yr journey... will try to share when I can free up my time.

Congrats and thank you for sharing! We are around the same age and it’s interesting to note that we have similar portfolio profiles… not identical, but similar enough.

One thing I am ashamed to admit is how much money I’ve blown on cars…. I don’t gamble, smoke, drink, do drugs or womanize…. But my glaring weakness is in things that go fast on 4 wheels. Damn it.

I love thiz Taycan and high maintenance wife. All others post are boring most converted from foreign currency, those converted you all win liao lo convert to myr.

This post has been edited by kelvinfixx: Apr 26 2024, 11:16 PM

You can't blame those who predicted the future correctly and moved their assets - or moved themselves - out of the country early enough not to suffer the horrendous depreciation in value that came with years of mismanagement, corruption, cronyism, nepotism and abuse of the NEP under successive regimes.

I'm lucky I hopped on that train before it left the station.

It's never too late to board the train. The station is always open... at CIQ Johor Bahru...

I hopped on one back in August 2023 to Singapore. Never look back bro.

Looking forward

100% agree

You have done incredible bro. Congrats!

You are a workaholic. Good to see that you plan to dial down the work. At 50s, you need to prioritize your health. Physical, mental and emotional health. So that you can still enjoy life in your 60s, 70s, 80s and even beyond.

Only buy what you can afford. I would never buy a car on a loan. If I'm going to enjoy it, I'll enjoy it debt free.

It's not applicable for everyone. It's just how I'd (stupidly) do it.

I think the correct mental model here is to earn/hedge in strong currency and spend on weak currency. In this era of globalization and investment across the globe is made so easy with a click of button. Everyone can do it but do you have the conviction and knowledge to do it.

I always see people complain about Malaysia but why there are people that can still do well. It doesn't make sense to complain about your country when you yourself are the controller of your own destiny.

A very short summary.. I am not trained in finance, so take my words with a pinch of salt.

If you are not in finance line, you will need good contacts to give you good and reliable information. Get to know your fund managers and invest in their funds to get their reports, and be helpful, nice and generous to everyone. For example, if I meet hksgmy and wife one day, i will treat them to Michelin star dinner. 

Risk management. So the saying goes 'take care of the downside, and the upside will take care of itself'. I used to concentrate my investment in around 10 stocks when I first started but now I invest in 20+ stocks in a few countries. My rationale is by investing in about 20+ instead of 10 stocks, the potential portfolio return is still the same but i can mitigate the risk if one company suffers.

Take calculated risks. I refinanced my properties in AFC, GFC and Covid to invest in stocks. It generally took 2 months to get the loans approved, so timings were good, because each time, the loans were approved when stocks were near rock bottom.

I dont invest in property now as property didnt give me the return equities gave me.

This post has been edited by newbie99: Apr 27 2024, 10:04 AM

"you yourself are the controller of your own destiny."....
Is only applicable and subjected to your own capability, capacity, wisdom and foresight at that moment you are steering your destiny.

You can only see how your destiny unfolded later.
There is a limit to what and when you can control.

Here's a better scenario... earn in a strong currency that holds its value, and earn enough to retire anywhere you choose, even in an equivalent first world country

if i tell you i can achieve this feat while residing in Malaysia will you believe me? The key to achieve this is investment and leveraging.

The reason is simple there is no way your earning in stronger currency will compound better than s&p500 for example over a long period of time. My goal is simply just to match s&p500 or outperform it

This post has been edited by jyll92: Apr 27 2024, 10:07 AM