True, educating them the right way, but even the right way may cost a lot of money. Look at how much foreigners are paying for tertiary education in US, UK and Australia. You need 1m for the fee and living allowance if they have good enough result to get into good universities in those countries. Dont let money be the limiting factor for their education.

There are ways of making returns of more than 10-15% yearly. You just have to read up a lot and explore various investment tools, and to explore those non-conventional investment like paintings, teapots, wines, tea leaves, coloured stones, semi-precious stones, metals etc.

They are some pretty good private bankers, but usually if you want to do things 'properly', u need to give them instructions! Foreign private bankers and local private bankers are the same. It's just that foreign private banks offer more investments or 'gambling' tools. Just invest in things that u understand!

The best way to know is to get to know the people with hands-on experience, eg rich private investors. Sometimes they will shed sincere advice... Dont bother getting advice from those ppl with vested interest. Afterall how good their advice can be if you are already much more successful than them..

Art pieces, u can enjoy.. they should be able to retain their value. Dont get conned though with faked stuff!

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Added on January 26, 2011, 4:43 pmThe most expensive courses in UK and Australia are probably Dentistry and Medicine. Average current cost around RM120k a year. 5-6 year course will set u back 720k. If your child fails one year, have to repeat the whole year, another RM120k byebye. If your child can save on his/her living expenditure, 20-30k per annum, should be enough.. so about 1.1-1.2M for the course (include benefits like yearly flying back to see papa and mummy, and occasional hang-out with friends, plus one year extra tuition fee in case they fail).

This post has been edited by newbie99: Jan 26 2011, 04:43 PM

Yes you are right re cost of MBBS degrees. That also is assuming you send them now. fast forward 10 years the price will be much higher. From my time to now i think the cost fees also already doubled up!! Not to mention those pre-U courses, and if you want to send them there for college, secondary school etc etc....

Yes i am actually looking at 10-15% pa. I believe this is fair. I know property has given me tremendous yields but we do not know how long more the party will last. Interesting on the private banker bit. Anybody that you can recommend?

Sorry but not familiar with art pieces. Any particular type that you focus/collect? Eastern art or western art?

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Added on January 26, 2011, 5:17 pmIf i were u i would already have retired. I dont see anything wrong with your portfolio except that your property portfolio could have been much much more if you had taken the financing option.

Also one ques if I may ask, why do you buy so much insurance when you already have so high net worth? giving them another 2m with already 7m left behind doesnt serve much purpose IMHO.


This post has been edited by 126126: Jan 26 2011, 05:17 PM

U have a MBBS degree? no wonder your 'salary' is so high.

When it comes to private banking locally, i believe CIMB is the most established. Foreign ones, u can try Credit Suisse, DBS, each one has it's pros and cons. Most need 1m local currency equivalent to open an account. Some 2m.

I collect asian arts, only a few pieces, mostly chinese pieces, as chinese market is huge, and they pay premium to buy from u. Western art is already a matured market. Vietnamese, Indonesian, and Chinese art pieces are the ones that should command good price in 5-10 years (they are already on their way up).

No unfortunately i dont hv a salutation in front of my name. Not easy to earn big bucks if you are a doctor, unless u specialise, and that also if you are really good in your field. Not to mention a big dent in your parents savings. I have a lot of classmates who are now specialists, and only just starting out in their career. So whilst some have been working for more than 10 years and already having properties, nice cars and stable income, these specialists are still trying to make a name for themselves and not earning a whole load. But no doubt, their salary will be very very high if they persist in their profession. Not to mention the job satisfaction. But hugely stressful profession indeed.

Thanks for the heads up on the Banks. Will explore further.

i am thinking if i should start collecting vintage car numbers. The prices of these have been going up steadily in the past few years. A lot of willing buyers out there.

Maybe high salary earners? Like CEO? or General Manager?We will never know.


This post has been edited by edyek: Jan 27 2011, 12:17 PM

I don't know what is the commodities 2m. Ignoring that, you have 5m. Even if deduct 2m for education, you have 3m. 8 years left to 56 yr old. If save 200k per year, will get another 2m. Minimum 5m by 56 yr old. Even if earn 5% on it also got 250k. Yes, you can retire by 56 yo. But I am sure you already know that.

CEO or GM within 3 years!!! Like I said, if really CEO or GM means got steady & fixed income in bank account. The private banking or gold-club or priority banking department would have been red-flagged and some1 would have contacted him.

Put it this way, I earn bout 15% to 20% what he is allerge to pull in and I have been invited.

This post has been edited by rakyat: Jan 27 2011, 02:54 PM

700k pa is a lot of money. Not many ppl earn that much I am sure. May I know what sort of business you r doing? Like retail, manufacturing or wholesaling? Types of products.

I am also sure retirement is also not in your mind. You are just asking for fun. Who would retire earning 700k pa? Continue to earn another 10 years. Retire at 45 lah.

By the way, I think 2m cash is OK considering your properties exposure of 16m. Well done! You are truly the highest achiever in this forum.

If u pull in RM350k per yr it is really difficult to give it up (assuming you r a salaryman).

Unless u have an alternate income source i.e. business or passive income, most ppl will continue until 'forced out'. In fact most will retire at 55 yo and then come back under contract coz the money is too good

The other guy with a business (126126) generating RM700k profit and thinkin of retirement at 35 yo If u have a business what retirement u talking bout? Sell out/ cash out? U feel money taste bland oredi-ah?

BTW RM700k profit @ 35 yo wow!!! U r doing better then some public listed company infact I would not be suprise that u r nominated to be young entrepreneur of the year. Waitaminute u r one of the top developer's children interviewed by the Edge recently Hopefully u were not the stupid sounding 1

This post has been edited by rakyat: Jan 27 2011, 03:09 PM

I can assure you there are a lot of bigger fishes who are worth much much more than me logging into LYN. I know because i know their portfolio and have met them in real life.

I can also assure you the money i make is not a lot. When you meet enough ppl, you will know that there are many many more ppl who pull in moneys till it flows out from their ears.

I am asking if i should retire because my job is not easy. There is no free lunch in this world my friend. After awhile, you realise that money is not everything.

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Added on January 27, 2011, 3:33 pmDont be so sour bro. Wait till you meet those founders of those start-ups techies who listed their counters in Mesdaq during the boom time few years back. Read up on their prospectus. You will know how much they make even after creative accounting.

If I am top dev's children, you think i will be bothered with how much i make? I would simply just wait for my inheritance.



This post has been edited by 126126: Jan 27 2011, 03:33 PM

Haha.. guess you have achieved the level until you realise that money is not everything. Happiness, health and well being, and the time you have with your family are much more important.

I agree with you there are quite a number of people out there, earning much more that you. But after a while, you will feel money is just money.. nothing more...

Actually earning 700K per annum is consider Ok in Malaysia.

My ex-roommate during University time which is an IT geek currently earning RM1-2 million per month. Currently, he owned 11 properties which is some located at NZ & Australia; also he owned 7 cars ie: BMW X6, Lambo Murci, Porsche Panamera, Hummer H3 etc. He is only 29 years old this year.

Too Bad, he is in illegal business so currently he is busy entertaining all the "Declaration" Letter from LHDN, Bank Negara & recently Kementerian Hal-Ehwal Dalam Negeri also want to belanja him drink coffee at their Putrajaya office.

C'mon, how hard can it be? There is no hardship that cannot be endured. Don't use it as an excuse my fren. There are many ppl enduring real hardships in life.

haha... tat y must learn how to diversify internationally & hire a good tax accountant, but nvm la

the commodities is the investment in unit trust investing in Amprecious Metal mainly on gold and other metals... so he has 7m in total...

This post has been edited by jphlau: Jan 27 2011, 04:17 PM

Interesting. I should go back home and check my account. See how much is mine.

Pls tell us more. Your x-roomie very keng. He got take care of u or not? Mayb give u some franchise?

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Added on January 28, 2011, 9:02 amNo-la not sour......

On the contrary I build my career advising SMI/SME on how to hedge their business risk. I oso count on some of the PLC as my clientele. My hobby is oso to analyse PLC track record and accounts.

That is why I'm abit skeptical bout a 35 yo RM700k earner that no-1 in the corporate world heard (no private banker???) of asking for money advise from a social network forum.

This post has been edited by rakyat: Jan 28 2011, 09:02 AM

Why do you ignore 2m? Thats 2 mil....

How can i save 200k per yeaR?

i can however, hopefully earn some returns from my investments like say 15%....on the 3m in commod/preciousmetals and equities so maybe 450k per year here...

Also by the time, i am 56, the 250k at todays value may only be worth 176k...... Inflation......

Anyway....some ppl may differ, by $$$ is not everything...... i hope to retire by 58 max to spend time doing
other things apart from working for income..

Maybe inheritance? or Maybe support from Family or Uncle George? or Maybe stock/hedge fund investment?

I don't know what business in East Malaysia can actually generate that much of cash except oil palm and construction, but not surprise about the RM 700k profit. The age? I've no comment about it.

Maybe the tech start-up or those invest in stocks can do it.

Who told you earning RM 700k per year is consider ok?

The chap must be earning at least 2m per year to say such.....