Nice flexes

This post has been edited by OrganicRepublic: Nov 14 2025, 08:30 AM

Yes. That's why I am bringing this topic out of insurance section.

There is no need to get intimidated. I don't bite. Those who ask me, I will help freely.
Of course there are. But you need to pay for advise or they only recommend you unit trust.
Actually I am very open and truthful. Which part is not truthful?

I respect good honest agent. But not those pushing for things or don't know about real life stuff and too textbook orientated. Why do you think I talk to 10 different insurance agents? Cause I want to see who is worth getting my money.

Open your eyes. Be open minded. Accept things. That way you can better yourself. Trust me, I was once close minded. Then I opened my mind and learn lots of things.

Btw I got nothing to sell or nothing to gain.

This post has been edited by Ramjade: May 27 2024, 12:33 AM

Wise vs RHB multicurrency to IBKR which one is cheaper ?

I don't know and don't really care lol. Cause I believe in going the SGD route rather than directly using RHB and wise.

Its still extra money you can use. I use this concept for income tax as well. Whatever money paid to govt is gone. If you can pay less income tax to govt, you have more for yourself.

You want to pay more tax or you want more for yourself. Allocate, savings in my eyes they are the same. That's why I am simple person. Keep personal finance simple. It doesn't have to be complicated.

It's off topic so I post it here.

This post has been edited by Ramjade: May 29 2024, 11:38 AM

The saved money is NOT gone.
Just that you need to allocate that "saved" money into other places...
It is also taken out from your budget.

that money placed into other places is only supposely meant to cover future insurance repricing. Not meant for other purposes.

This post has been edited by MUM: May 29 2024, 11:42 AM

Been lurking here for few years, but finally created account to share my NW here after keeping tracking of my finances for past few yrs. This month marks 2 years since i entered the working world.

Age: 24
Occupation: IT-related.
Nett Pay: 4200 + 700ish (allowance for off-hours)
Marital Status: Single

Savings / Assets:

Cash (inclu. Emergency Funds, MMF): RM 13.5K
FD: RM 25K
Unit Trusts (Versa): RM 10.5K
Stocks (Local): RM 20.5K
Crypto: RM 1.2K
Commodities (Gold): RM 0.9K
EPF: RM 40K


Debts:
Phone installment with telco - RM 1.6K left
Car HP loan- RM 33K (4 yrs to go - higher DP and small tenure duration)
--------------------
Total Assets: RM 111.6K
Total Debts: RM 34.6K
Nett Worth: RM 77K (RM 37K without EPF)


Assets breakdown overtime:
https://pictr.com/images/2024/08/29/xgVz8B.png

Positive assets, net worth, debts comparison chart:
https://pictr.com/images/2024/08/29/xgV1vc.png

Savings rate chart:
https://pictr.com/images/2024/08/29/xgVG7G.png


---------------------------------------------------------------------------------------------------------------------------------

My car repayment is high > 650 at the expense of lower tenure 5 yrs. And my food expenses are generally pretty expensive (2x what i should normally spend) but I compensate it by not shopping or retail stuff as much to balance out my savings rate.

I usually try to strive for atleast 50% savings per month but there are unexpectedly large expenses (especially Q2'23 for car DP, monitor, etc.) for certain months but i'm able to even it out towards the end of the year leading to a overall savings of close to 50% (3rd chart).

I'm at the stage of alot of uncertainties especially career-wise (im not happy here), and despite being pessimistic i'm trying to invest as much as I can while slowly cutting unnecessary costs (ordering grabfood especially).

My F.D. is maturing soon, and I intend to throw it majority into US ETFs, leaving small amount for indiv stocks. My plan is to do 50:50 US Stocks and KLSE, slowly transition to a 70:30 if and when my income increases.

This is great rule of thumb....

I used to be very strict with my expenses, but I understand sometimes need to enjoy life as well. The key is save enough to invest well, NOT to save too much till your life becomes miserable.

But the 50% rule is great!

I am person who believes in sacrifices. If you watch this YouTubers minority mindset and lots of people who have FIRE, all gave the answer. Sacrifice a decade to 15 years.

what % of saving do you mean when it comes to sacrifices.

again, i say saving a lot is good, make sure not to eat white rice and soy sauce every day only, for the sake of FIRE. still maintain some things in life that you enjoy doing.

I used to think like Ramjade as well ... but I'm not more aligned with your philosophy, especially since I don't have that many days left to enjoy that which I've painstakingly built up over the decades. If not now, when?

Nice job 👏👏

Initially, i was very optimistic and wanted to target atleast 70% savings rate. But overtime i realized that it is very difficult to save even 30% especially when bills, expenses piled up overtime.

I dont know if im doing well for my current age, but i'll just keep doing what im doing and make minor adjustments from time to time.

My goals:
1) Total positive assets >= RM 100K by end of 2025
2) Total positive assets > RM 250K by age 30 (excluding EPF)
3) Total positive assets > EPF by 2x by age 30

For now this is hard as my income is not high paired with high car monthly repayment. Employer contri. also > 17%.

Like someone I know, suddenly passaway when go swimming. Couldn't enjoy the wealth he has accumulated.

At your age, you should be planning on how to spend it, buying experiences, holidays and having all the best things in life (which I have no doubt you already have most of, that the rest of us can only dream of )
No point investing and accumulating too much excessive wealth which one can't carry forward to the next life.

All the best, doc

If your housing loan interest is higher than FD, it would be better to settle your housing loan first, or at least keep 120k in FD just in case your uncle ask for his money back.

I think 50% is great!!

Employer contribution more than 17% is beautiful!

Don't over stress yourself especially at a young age, got to enjoy life a bit, I think you are doing well.

agree, FD at 220k, not used short term is best to put it for investment purpose. The rest is great!

his replies was on a 2009 post lol....

i doubt during that time got flexi loan.

24 still young. focus on your skill get increase your salary. buy 1-2 properties as investment at 90% quota but research properly on those that at least can breakeven with installment or even maintenance fee.

most importantly is maintain your current lifestyle even after your pay increase.