I think some ppl who have posted their net worth here arent telling the truth. Its silly to see someone who earns so high and yet believes in putting tonnes of money in FD. For what? Plus some have so much money sitting in FD so why bother taking a car loan? U get about 3.5% in FD and then take a loan and pay 3.5% to the bank. Does this make sense???

Some say they earn 500K per annum but then keep almost 300K in gov bonds and FD but only has 1 house as asset? Anybody who knows investment well enuf will know that u should invest in property especially in prime areas e.g Damansara, TTDI, Bangsar, etc. Plus you have 2 Japanese cars with an outstanding loan of 40K for the next 3 yrs. U earn 41,600 per month so u can easily pay off the loan with about 1.5 months salary and save a little on the interest rite? So why dont you? He has a 700K house whcih is fully paid up but he decides to keep a 40K 3 year loan active despite his RM41K/mth salary???

On top of that, he claims he pays 40K premium for 4 members of his family. A person earning 41K/mth can only afford to pay RM 833/mth/pax for insurance? Most insurances now have the investment tagged to it so the more premiums you pay the more its invested for you and yet this guy only pays RM833/mth/pax?? But ke keeps RM110K in FD with rubbish rates?

I think this is all bullshit. Common guys. If u wanna share then tell the truth la. Why need to boast and increase figures just to prove what? Ure only using a nick name here. Nobody knows you. So just tell the truth.

Anyway the following rough figures are mine. Nothing great but im working on it.

Age: 32
Job: Engineer
Married with no kids
Income: RM168,000 / annum

ASB: RM 255,000
EPF: RM121,000
Gold: RM 60,000
Cash in hand: RM22,000

Property (prime area) purchased at 475K in 2009 but worth 680K now (based on recent transactions)
15 year housing loan to finish in 14 years or earlier if i choose to.

Japanese car worth 45K now but loan paid off in full.

Currently paying insurance premium of RM 1100 / mth

Some people may earn a lot in salary, but dont know how to put their saving to good use.
He took a car loan, maybe just to avoid income tax office coming to look for him. Any cash sale property or car will be investigated. He will receive some borangs to fill to explain how he pays for the car/property if they are fully paid by cash.

There are people who dont really like to invest in property. He probably just waiting to migrate somewhere.. He kept a lot of his money in bonds and FD probably because they are very liquid, and he can cash out fast in case he needs it, eg for his kids education, or just to run away from this country when there's a revolution etc.

He is already so financially secured, and he probably feels like he doesnt need to be protected by insurance anymore, I guess.

Yes. Maybe. But i highly doubt it.

By the way, this is mine, feel free to comment.

Age 38, married with one wife and 3 kids.

Property one - 2.5M
Property two- 2.2M
Property three- 300k
EPF-300k
Cars- driving parents cars.
Stocks- 2.5M
Alternate investment- 500k
Loans- 3.2M
Cash-min
FD/bonds-none

By the way, this is mine, feel free to comment.

Age 38, married with one wife and 3 kids.

Property one - 2.5M
Property two- 2.2M
Property three- 300k
EPF-300k
Cars- driving parents cars.
Stocks- 2.5M
Alternate investment- 500k
Loans- 3.2M
Cash-min
FD/bonds-none

I think some ppl who have posted their net worth here arent telling the truth. Its silly to see someone who earns so high and yet believes in putting tonnes of money in FD. For what? Plus some have so much money sitting in FD so why bother taking a car loan? U get about 3.5% in FD and then take a loan and pay 3.5% to the bank. Does this make sense???

Some say they earn 500K per annum but then keep almost 300K in gov bonds and FD but only has 1 house as asset? Anybody who knows investment well enuf will know that u should invest in property especially in prime areas e.g Damansara, TTDI, Bangsar, etc. Plus you have 2 Japanese cars with an outstanding loan of 40K for the next 3 yrs. U earn 41,600 per month so u can easily pay off the loan with about 1.5 months salary and save a little on the interest rite? So why dont you? He has a 700K house whcih is fully paid up but he decides to keep a 40K 3 year loan active despite his RM41K/mth salary???

On top of that, he claims he pays 40K premium for 4 members of his family. A person earning 41K/mth can only afford to pay RM 833/mth/pax for insurance? Most insurances now have the investment tagged to it so the more premiums you pay the more its invested for you and yet this guy only pays RM833/mth/pax?? But ke keeps RM110K in FD with rubbish rates?

I think this is all bullshit. Common guys. If u wanna share then tell the truth la. Why need to boast and increase figures just to prove what? Ure only using a nick name here. Nobody knows you. So just tell the truth.

Anyway the following rough figures are mine. Nothing great but im working on it.

Age: 32
Job: Engineer
Married with no kids
Income: RM168,000 / annum

ASB: RM 255,000
EPF: RM121,000
Gold: RM 60,000
Cash in hand: RM22,000

Property (prime area) purchased at 475K in 2009 but worth 680K now (based on recent transactions)
15 year housing loan to finish in 14 years or earlier if i choose to.

Japanese car worth 45K now but loan paid off in full.

Currently paying insurance premium of RM 1100 / mth

Master Yoda says: "Precarious situation I see you have. Emergency fund have not but Gearing high you have"

Your gearing ration is almost 3:1 (very high), your acid test ratio is 0.16 (very low). If you are a listed company, I'd dump all your share and run far far far away.

Xuzen

---

Added on June 14, 2010, 5:08 pm

i) Change your housing loan to weekly repayment to save on the interest rate if you have not already done so.

ii) Very conservative investment appetite, but generally you should be fine.

Xuzen

I think some ppl who have posted their net worth here arent telling the truth. Its silly to see someone who earns so high and yet believes in putting tonnes of money in FD. For what? Plus some have so much money sitting in FD so why bother taking a car loan? U get about 3.5% in FD and then take a loan and pay 3.5% to the bank. Does this make sense???

Some say they earn 500K per annum but then keep almost 300K in gov bonds and FD but only has 1 house as asset? Anybody who knows investment well enuf will know that u should invest in property especially in prime areas e.g Damansara, TTDI, Bangsar, etc. Plus you have 2 Japanese cars with an outstanding loan of 40K for the next 3 yrs. U earn 41,600 per month so u can easily pay off the loan with about 1.5 months salary and save a little on the interest rite? So why dont you? He has a 700K house whcih is fully paid up but he decides to keep a 40K 3 year loan active despite his RM41K/mth salary???

On top of that, he claims he pays 40K premium for 4 members of his family. A person earning 41K/mth can only afford to pay RM 833/mth/pax for insurance? Most insurances now have the investment tagged to it so the more premiums you pay the more its invested for you and yet this guy only pays RM833/mth/pax?? But ke keeps RM110K in FD with rubbish rates?

I think this is all bullshit. Common guys. If u wanna share then tell the truth la. Why need to boast and increase figures just to prove what? Ure only using a nick name here. Nobody knows you. So just tell the truth.

Anyway the following rough figures are mine. Nothing great but im working on it.

Age: 32
Job: Engineer
Married with no kids
Income: RM168,000 / annum

ASB: RM 255,000
EPF: RM121,000
Gold: RM 60,000
Cash in hand: RM22,000

Property (prime area) purchased at 475K in 2009 but worth 680K now (based on recent transactions)
15 year housing loan to finish in 14 years or earlier if i choose to.

Japanese car worth 45K now but loan paid off in full.

Currently paying insurance premium of RM 1100 / mth

now it is negative since just took a new housing loan; even after i deduct all my emergency funds....it will be positive only when i am dead.... life insurance makes it positive then....

Your property appreciated 43% in a year? Mind telling which property is that? New or subsale?

Master Yoda says: "Precarious situation I see you have. Emergency fund have not but Gearing high you have"

Your gearing ration is almost 3:1 (very high), your acid test ratio is 0.16 (very low). If you are a listed company, I'd dump all your share and run far far far away.

Xuzen

---

Added on June 14, 2010, 5:08 pm

i) Change your housing loan to weekly repayment to save on the interest rate if you have not already done so.

ii) Very conservative investment appetite, but generally you should be fine.

iii) My prediction is that your ASB is withdrawal from your KWSP right? Hence it is illiquid. If it is yes then you should increase your Cash in Hand to at least 45K or more to cover emergency expenses. if not, then your short term liquid cash reserve is sufficient.

Xuzen

Master Yoda says: "Precarious situation I see you have. Emergency fund have not but Gearing high you have"

Your gearing ration is almost 3:1 (very high), your acid test ratio is 0.16 (very low). If you are a listed company, I'd dump all your share and run far far far away.

Xuzen

---

Added on June 14, 2010, 5:08 pm

i) Change your housing loan to weekly repayment to save on the interest rate if you have not already done so.

ii) Very conservative investment appetite, but generally you should be fine.

iii) My prediction is that your ASB is withdrawal from your KWSP right? Hence it is illiquid. If it is yes then you should increase your Cash in Hand to at least 45K or more to cover emergency expenses. if not, then your short term liquid cash reserve is sufficient.

Xuzen

Would like to point out my understanding, dun think your networth diminish just because you took on a housing loan.

Just like you take on a personal loan, you get the money up front, you get a liability up front too, on balance sheet, the asset and liability match (almost matching, ignoring transactions fees or up front interest).

So buying a house, you owned the house (asset), you mortgage your house, you get cash, you get liability. If you take new housing loan to financing for new purchase, your net worth drops when your house value drop by a lot, while your liability still have outstanding to pay. Usually, net worth increase when the prop appreciate more than the housing loan outstanding, that's how people build their net worth with Real Estate.

of course unless u took housing loan to renovate the house, that does not reflect in adding value to the market value of the house itself. Meant for a joke, e.g. put a fish pond in your living room.

Cheers.

How does weekly repayment help since the interest is calculated on daily rest? Im already dumping in a bit more than my fixed amount monthly.

I think some ppl who have posted their net worth here arent telling the truth. Its silly to see someone who earns so high and yet believes in putting tonnes of money in FD. For what? Plus some have so much money sitting in FD so why bother taking a car loan? U get about 3.5% in FD and then take a loan and pay 3.5% to the bank. Does this make sense???

Some say they earn 500K per annum but then keep almost 300K in gov bonds and FD but only has 1 house as asset? Anybody who knows investment well enuf will know that u should invest in property especially in prime areas e.g Damansara, TTDI, Bangsar, etc. Plus you have 2 Japanese cars with an outstanding loan of 40K for the next 3 yrs. U earn 41,600 per month so u can easily pay off the loan with about 1.5 months salary and save a little on the interest rite? So why dont you? He has a 700K house whcih is fully paid up but he decides to keep a 40K 3 year loan active despite his RM41K/mth salary???

On top of that, he claims he pays 40K premium for 4 members of his family. A person earning 41K/mth can only afford to pay RM 833/mth/pax for insurance? Most insurances now have the investment tagged to it so the more premiums you pay the more its invested for you and yet this guy only pays RM833/mth/pax?? But ke keeps RM110K in FD with rubbish rates?

I think this is all bullshit. Common guys. If u wanna share then tell the truth la. Why need to boast and increase figures just to prove what? Ure only using a nick name here. Nobody knows you. So just tell the truth.

Anyway the following rough figures are mine. Nothing great but im working on it.

Age: 32
Job: Engineer
Married with no kids
Income: RM168,000 / annum

ASB: RM 255,000
EPF: RM121,000
Gold: RM 60,000
Cash in hand: RM22,000

Property (prime area) purchased at 475K in 2009 but worth 680K now (based on recent transactions)
15 year housing loan to finish in 14 years or earlier if i choose to.

Japanese car worth 45K now but loan paid off in full.

Currently paying insurance premium of RM 1100 / mth

You may be right that maybe some ppl are not telling the truth. Are you telling the truth?
Your annual income is RM168k PA but your EPF is only RM121k?
The only answer is that you have withdraw some for your house& investment. Can explain to tally the figure?

You keep only RM22k in your hand? Every month your salary (after EPF and Tax) should be about RM10k cash. That means every 1 month you have to withdraw/ transfer/park the money else where. You dont seem to be like that kind of person who will use up all the 10k (even for installments not to say expenses) so I m sure you are very dilligent in transferring your money.

With your income level, you seem to be driving quite a cheapskate car (no offence) but I am not sure is that the market value or the value you bought? I cant think of any japanese car at RM45k (new car value).

Some of ppl commented your property raised to 43% within a year. The only place I can guess is the Kinrara area (gut feelings).
Not even sure if Kinrara can do so well.

Pls dont be offended by my harsh words but I think you begin by accusing others not telling the truth and i feel that this is not respectful. in this forum, everyone try to share the real thing to learn from each other. now, i doubt u r telling the truth..... also i dont like the way you criticize the ways others manage your money. if i want to criticize u i also can say
"what???? 14k salary a month and driving 45k car? some one wife also got no car?" but i think it is not good to say so.

good luck rich man!

1) My EPF is low because i worked overseas for 3 yrs which had no income tax and no EPF contributions
2) Go check out the 2nd hand price of a 2003 Toyota Vios 1.5E
3) Yes im driving a cheap car because the car has given me zero problems and i prefer to invest in properties and gold. So unless the car starts giving me any trouble, i dont plan on changing it soon. Maybe next year.
4) My property is not located in Kinrara. That is not a prime area in case u didnt know. I live in an area where market prices are demand driven not market driven. There are only very few areas which can command such demands over a short period.

So before u accuse me know your facts first. From the points u have raised, i can contend that u have very limited knowledge about cars and properties. I dont lie and i dont feel the need to inflate my financial worth above and beyond its actual numbers.

Cheers!

Seems about right, I have almost zero amount in my EPF as well, despite working for a long time .

The house appreciation, is on the high side, but there are some areas in KL which do have that kind of valuation if you bought it before 2008, to get it in 2009, you must have gotten a bargain.

Well liquid net worth of about 400k, seems about right for your age and pay. But I suspect the salary figure you are quoting is fairly recent, otherwise your net worth are going to be much higher.

Anyway kudos for moving up in the world,  if what you posted is real. 

if i want to criticize u i also can say
"what???? 14k salary a month and driving 45k car? some one wife also got no car?" but i think it is not good to say so.