Also it’s interesting to note that those that say they earn incredible income almost often always say they don’t have enough time.

I may not be in top 1% in wealth but I am definitely in top 1% in time since I retired early and quit the rat race.

I get to spend plenty of time with my loved ones and doing the things I love, so I see myself as extremely rich in that sense.

if you managed to maintain your spending budget after retirement, then definitely you are in the top 1% wealth of Malaysia... its only around 2 million ringgit as per some survery...
(ie if your spending budget is more than 10K rm per month and if we use 5% return on wealth)

I said ‘I may not be..’ because I don’t believe such surveys 😁

This is the goal of life. Rat race is just a stupid thing, however many Asians culture prefer "work" because that's the only thing they know to do, most don't know how to enjoy life, how to rest, how to travel, how to communicate and show love to family etc. Strip away "work " from people then they don't know their own identity anymore.

Congrats on getting out of the rat race, you're definitely extremely rich in that sense

Same here. I just do what i want to do all day long. I answer to Nobody but me. 😁

It’s a transition soon for me. I hope to get to do something that entice me… need to explore how to fill out the slots.

Yes, most wealthy individuals face this issue. I've adjusted my work schedule to an average of 1-2 days a week, so I can spend as much time as possible with my newborn daughter. My business can temporarily run on autopilot without my presence for the past 9 months.

This post has been edited by furuku89: Oct 20 2024, 03:45 PM

Get difficult hobbies...you will never have enough time to learn. Sometimes i think i crack my head too much.

I actually have a lot of time. Just i have too many hobbies. I have been watching the Singapore Capcom Street Fighter cup for a few hours already today. Gamer's life is the best, i am so glad that i was playing video game since i was 5yo, i never faced the issue that "i will die faster if i stop my work" or "i have nothing to do if i stop my work".

This post has been edited by HolyCooler: Oct 20 2024, 05:46 PM

I am playing Wukong whole day today. A bit want to vomit liao. 🤢 Dying a thousand times in this game is normal. 😆 I actually did some game programming as hobby in younger days. Going to continue it as well. Z80 Assembly, here i come!

This post has been edited by CommodoreAmiga: Oct 20 2024, 06:23 PM

Ya supposed to start the Wukong on my ps5. Need to get ready for motion sickness when playing such game. Even with Ghost of Tsushima, I need few rounds of acclimatizing before I settled down… 😅

I always remember money is unlimited but everyone only has 24 hours a day.

There is this story which I will like to share:

Mr. A has developed a business which can run automatically without his involvement for 85% of the time. Mean one week he only needs to work one day. That one day work per week business generate nett income of RM100k per month.

As time goes by, in order to grow the business to generate RM200k per month, he needs to hire employees. But there is a problem, after he hires the employees, he needs to manage them. He realized that his time attachment with the business will be more, from 15% to 35%, as he needs to manage those employees.

After careful consideration, he doesn't want to sacrifice his 20% time just to get that extra RM100k per month nett business income. So he decided to sell off his business as the business has reached a point where either go through expansion or slowly lose out competitiveness.

After that, he gets many business investment offers and he always use the same principle to analyze all the offers, which is time attachment. He doesn't want a job, and a business that is attached with his time is a job.

Your lifespan = free time + indentured time. Value your time poorly, and you will be poor. Real wealth is having a system that generate income with passage of time, and yet is exclusive of your time.

This post has been edited by skty: Oct 21 2024, 02:21 AM

i find it hard to understand the part about building up a business over time till can run almost
hands free ?no need employees to be managed. if you need ,then adding more should just be a minimal effort as everything that is required is already there

Also if n employees able to produce 100k a month you dont need 2n to produce 200k.


2. on the other hand starting new in another business is totally different.

If selling off the established business is to get more time for own self...
going into another business is surely going to take more of his time than
just running the existing one already on autopilot where he is familiar with.


My take is

The only way you can make money with minimal effort is use your money to make more money
ie retire, sit back and enjoy passive income from eg stocks, EPF etc

not putting your money into another business start cracking your head again.. no end

you may ask be a sleeping partner of a business can?
close both eyes can?
unless you think people would make money for you without you doing anything

certain thing said is easier than done.

This post has been edited by guy3288: Oct 21 2024, 10:18 PM

What line are you in to be able to earn RM 3 M + annually ?

Investment banking

Source: https://www.jiuzyoung.com/info/malaysia-inc...usehold-latest/

As long as you enjoy the new piece bro

Lock down that Cubitus

Is it that important to wear an expensive suit and watch to meet your client in Investment Banking? It could be a double edged sword, either the client thinks u are not managing your finances properly or you are very good in your job.
I have met many over the years, and most of them drive bigger and more expensive cars than their clients. Guess Investment banking pays really well! Unfortunately my children are not interested in studying finance.

used to be B0.25...

Well, I’m in a different role now. My job involves recruitment and looking after new hires. Today’s younger generation is inspired by the way you dress at work, and they aspire to become like you.

From the client's perspective, everything is going well, which can greatly enhance closing a deal. I brand myself as a key part of the product to close deals rather than focusing too much on detailed explanations. It's like when someone tries to recruit you or sell an investment product while driving a Myvi versus a Ferrari. Naturally, the Ferrari driver doesn't even need to talk about the product; clients are drawn to him, eager for opportunities, and are willing to follow whatever he is selling.