Wow! Angry man as he sounds.
Ok x 100 times. We believe u ok?!?

good luck very rich man.

Not rich. But enough to survive. there's no 'we'. Its only you.

No need to reply this thread then you won't have any of these problems from the LYN members here. True or not true, one does not need to show his/her net worth. As long as you know what you are doing in your life, then that is good enough.

Cheers, mate.

Actually what's wrong with taking in 14k a month and driving a 45k car? I take home more than him, and my father's 40 year old car, which i drive daily to work, is worth less than 1k (quotation from used car saleman). Since my work place is less than 5 mins from my house, and the car is still working, i see no point in spending extra for a new car.

there is no problem with that, just that some people find it hard to believe. If i say that Im taking not even 5k salary, but im driving a 200k car,people will not believe me also.

Then you probably have other alternative income, or u didnt declare your salary 'properly'...

car doesn't reflect a person's wealth, u will never know unless u dig out his info of all deposit and real estate

u go kampung, saw one uncle driving honda "kapchai", who will know he is the owner of 500 acre of rubber estate in that state?
same situation in KL, driving big car doesn't mean he is rich

Everyone who checked on their net worth is rather showing off than keeping in-balance....i'm going to shared a rather poor one or non-succesful
Age:26
Assets: None
Jobs: Changed 4 Jobs within 4 Years after graduated
Money in bank 5k
Salary:Around 3k

Liabilities:-
Malaysia Car 13 years old with pay off loan but maintenance fees around 200 monthly
Parents 1k Monthly
Study Loan:20k
Insurance:Medical Card

Do i have a negative networth and how do I improve it?

Age: 21
Occupation: Just finish study on May and no mood to work now.. maybe later..

Marital Status: Single

Asset(s):N/A

Study loan: N/A, parents pay.

Insurance: Got full coverage.

Investment:
FD: RM 50k

Cash in Bank - RM161K (Parents put money in this account every month )
Cash in Hand - RM2k

Don't bother working anymore.

Yeah, buying nice car is a total waste of money, many affluent people can afford to buy it outright with cash, but yet they don't. Car only serve one purpose, which is to get you where you want to go. If it can perform the task with no problems, there is absolutely 0 reasons to get a new one. Some extremely rich people like the Sam Walton (passed way) drives a 20 years old pick up truck, even when he can afford to buy a car manufacturing company.

wow rich parents. Nice.

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Added on October 7, 2010, 9:23 amOMG malaysians are rich.

This post has been edited by soul2soul: Oct 7 2010, 09:23 AM

Very true. Especially if you are a wage earner or a small business owner trying to build wealth on your own. A simple piece of advice from someone who made it.... 'Buy the biggest house you can afford and drive the smallest car you can get away with'. Why? As a general rule, a house will appreciate over time, a car can only depreciate. You need to make what little money you have work for you, not the other way round. You defer gratification so you can build capital. You want to cultivate good financial habits that will serve you a lifetime. Being spendthrift on expensive cars early in life is not an admirable trait. You should be secure in your own ability and not try to impress others with luxury toys. After you made it and have surplus funds, you can indulge yourself a little if you like.

Age: 18
Occupation: student. part time farmer(parent bird house)

Marital Status: Single

Asset(s): gadgets around 10k

Study loan: parent support

Insurance: Coverage until 18


Cash in Bank: rm2-3k(monthly allowance rm1.5k. Can save up to rm800 monthly.

I go back my hometown once a month to harvest bird nest though. My parents cant harvest as it is abit rough kind of works.

This post has been edited by mois: Sep 20 2021, 05:37 PM

Wow! Your parents have been very generous with you. Hope you treat them well. Your monthly allowance is the same as my starting pay! And 200k in unit trust! Goodness, guess the saying 'money does not come easy' does not apply to u..

Good job there he got.

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Added on October 7, 2010, 12:22 pmAge: 20
Occupation: student. (internshiping)

Marital Status: Single

Asset(s): gadgets around 3k tongue.gif

Study loan: 50k

Insurance: full coverage.

Tranport: Super Big & Long RapidKL (Student Pass RM100)

Investment:
unit trust: few k (parent's effort)

Cash in Bank: rm7k(monthly allowance rm500+internship RM700(shorterm) Can overspent up to rm300 monthly)

I go back my hometown once a month to stock snack and maggie mee. For future overspent backup
*

This post has been edited by kaijun90: Oct 7 2010, 12:22 PM

mine is confidential
but you can try my friend's one since i know how much he earns

Name: Mr Lim XXX XXXX
Age: 28 years old
Occupation: engineer at intel penang
Marital Status: single (got gf but not supporting her)

Assets: None
Car, Honda Civic 1997 (paid)

Study Loan: Paid
House Loan: No House how to have loan?
Car Loan: 2nd hand car just pay cash no loan
Other Loans: None

Insurance:
Life: RM4k per year

Rental: RM990 per month

Investments:
ASM/ASW2020/AS1M: RM200K(combined)

This post has been edited by amalthea: Oct 7 2010, 12:38 PM

lol ur bf?

no not my bf
how is he doing?

This post has been edited by amalthea: Oct 7 2010, 12:44 PM

To me, I apologised first for saying : these are the type of people who spoilt their children. To each, his own, and his own ways of becoming a parent. I just have sympathy for the children, it's not their (the children's) fault, but the parents'.