No, disagree with the final sentence. I think poster here helps out by harvesting the birds' nests once a month. That is the contribution and the responsibility that must go hand-in-hand with the allowance. And that is good training there.

Yes, the parents are quite well-to-do, but they still maintained a balance by that imposed responsibility.

I will do the same for my children. I will teach them the finer arts of maintaining the Passive Income Sources, and then the basic principles of Asset Allocation and Diversification. And then they must practise what they learnt, in the meantime, I will deposit a regular source of Passive Income into their babk accounts, be it a dividend or rental, or bond coupon, or Term Deposit Interest.

A good start to his career, especially that 200K that he managed to save-up in his PNB Funds.

I would think he manages his money very well. I think he would make a good CFA, why not ask him to study a CFA Course at the side ? In future, he will be able to open a funds management company if he is able to apply for a licence from The Bank Negara Malaysia.

Malaysia needs more of such people to provide financial education to the public, so that people don't easily fall into investment scams and lose their hard-earned money.

we are all engineering and IT people, technology people not accounts girl wearing sexy short skirt
call us study CFA? siao ah? cannot lah

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Added on October 7, 2010, 3:27 pmwhat i am trying to say is that, he does not know accounts etc lah
he only knows economics
how i know him is because of stocks
but good to know he's doing pretty OK

This post has been edited by amalthea: Oct 7 2010, 03:27 PM

Why you mean by that ? My parents give me money so what.. Maybe you parents didnt did that to you thats why i guess..
My parents give me money so what.. and yet i still complete my Degree in 1st Class Hons and i didnt think i am spoilt.
Even some big company offer me job to work with them.. My parents are support and proud of what i achieve.

You talking only too much..

See the hot temper flushing out, and the proudness in the character.

Big companies offering but mentioned in first post that he/she is not willing to work. Another sign of the character.

Finally, a judgemental attitude, by saying that my parents did not give me money.

However, a silver lining there, a 1st Class honour Degree - but will not how was it achieved until we go into the details.

I have said earlier that I do not blame you, and yes, to each his or her own. Though I resent your words, but I remind myself that some will fall, and humans are never born equal.

Good luck in the working world, my young friend. The working world is never what you think it is, your big words and as you said it : talking too much, will haunt you when the going gets tough. However, you might get it easier if you joined your father's company.

Mark my words. End of comments on you !

This I concurred. I decide not to join my fathers' company in Sarawak when I graduate, and that why I develop my business in Sabah. With all those years of blood and tears, it ain't easy and certainly not for everyone I would say. During those difficult times, how I wish I would have joined him and expand his business (Start with RM 100 you can easily earn RM 100, but start with RM 0 to earn RM 100 it is not that easy). And lucky me that I've being persistent in my decision to develop my own business.

Thank you, Edyek. You always have the very right to say that you are a self-made man. But, it's certainly harder to do it this way. I admire your courage, persistence and finally your method of achieving success.

fifa2009,

<<yet i still complete my Degree in 1st Class Hons >>

So what?? As compare to what??

Most people in my generation worked 20 to 40 hours per week while doing their degree. And, they got 1st class honor too.

As per my generation's standard, I do not consider any full time student that do not work and pay their way through college as working hard.

Dreamer

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Added on October 7, 2010, 7:08 pmHansel,

I think you have just insulted Edyek. I do not believe that he would say that he is a self-made man. Behind every successful person is a lot of helps along the way by many people. Nobody is self made. To say that is to be UNGRATEFUL to all those helps that a person received along the way.

In this case, Edyek got his start with KEY SUPPORT from his mentor at the RIGHT time.

Dreamer

This post has been edited by dreamer101: Oct 7 2010, 07:08 PM

dreamer101,

You obviously have considerable net worth. Mind sharing if you have insurance, and if so what kind of insurance and how much is the coverage?

Thanks.

Angel On Fire,

I have insurance from my job. Beyond that I am self insured. When I retired, I may buy critical illness insurance.

I prefer to buy insurance company and make money from people buying insurance as opposed to letting insurance company make money from me.

At my level, in most cases, insurance are too little and too late.

Dreamer

When I came back and help my parents in their family business after grad from UK and worked in MNC, my mum told me this, though you are graduates, litterate and PC savvy, that does not mean I am more capabale in term of street wise.... And she prove herself correct...

first few years, i did all the works, stock check, ordering, managing, stock housekeep, sales, pricing, sales kit etc...

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Added on October 7, 2010, 9:43 pmWhat business are your parents into mate? How old are you now friend? 40+ ??

The path you mentioned is known as "white hand rise house" bai shou qi jia aka in english... with empty hand, you rise your house

I did the opposite as you friend.... I left my career in MNC and give up professional career as Professional Engineer and go back to help my parents in their business and be a family man now. And looking back, some said I am foolish. But hey... no regret man... I have my own company, staeady income, ample of time spend with my wife and my little princess....

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Added on October 7, 2010, 9:45 pmDreamer,

Do you mind to disclose numbers?

e.g. 10million in FD, 500k in Unit trust etc

This post has been edited by Awakened_Angel: Oct 7 2010, 09:45 PM

Awakened_Angel,

1) P&C.

2) Why does it matters?? I have ENOUGH for my own purposes.

3) You should be focused on how to achieve YOUR OWN GOAL.

Dreamer

LOL, you're going to go very far with that kinda attitude my friend. LOL

Sitting at home after graduation because you did not feel like working. I don't know how is that not spoilt in a way. I wish I can sit at home and yet parents still give me cash to spend. LOL

Then should be your loves one
Anyway,here is mines:

Age: 18
Occupation:Quit my job with pay ofRm 4.8k-5k.So,Jobless now.

Marital Status: Single

Asset(s):Rm5k of gadgets i guess

Commitment:Currently,Just gave parents some money,but going to get a house for parents as they fall down from business and went bankrupt.No worries,Dad back to managers lifes.

Insurance:No,I dont think so.

Automobiles:Not sure yet,but i need it as i am going to starts my business soon

Investment:
Foreign FD:7k euro,3k euro in wallet

Cash in Bank:Around Rm40-45k

For the 40-45k,I will going to invest into business soon and leave Rm5k with me.Hopefully,1st step will get a decent pay with Rm3k.

This post has been edited by N~R: Oct 8 2010, 06:21 AM

deleted.

This post has been edited by ThanatosSwiftfire: Oct 8 2010, 09:32 AM

First and foremost, this is a public forum whereby we all use avatar to hide our real identity. It is not like FB forum whereby I can just click on your profile.

From your post, I just want to see how position your assets as per your financial intelligent

at age 18 got salary 5k? At 18 buy house for parent ah? Wow

Awakened_Angel,

I had told you. Most of my money is in these 2 mutual funds:

http://finance.yahoo.com/q?s=VSMGX

http://finance.yahoo.com/q?s=VWELX

Dreamer

Dreamer,

I have looked at it. thank you. But can you justify your action? What makes this more superieor than other investments?

Dreamer,

Your explanation delves into the level of "being self-made" here, which I think is not necessary. Obviously, self-made does not mean that nobody helped him at all, no mentor, no friends and no customers who supported him, certainly there are such parties around and yes, certainly we must maintain our appreciation for such parties.

I would use the term : "self-made" here in relation with non-working with parents, and rising by other means other than via parents' company. But let's not debate this linguistic understanding too much.

Finally, I maintain that my such good thoughts for Edyek as being correct, instead of my words being as insults to him.

Anyway, on something more constructive, I think I would like some thoughts from yourself too about those two mutual funds that you are heavily into. I am expressing the same request for some opinions from your goodself too on those two funds.

Maybe I should include them into my portfolio too.

How are thier coupon/dividend payouts please ?

This post has been edited by Hansel: Oct 8 2010, 12:06 PM