It's ok for me if I earn half of that a year

Earning RM 100k per year, you can lead a comfortable life.

Off topic :

http://says.my (same concept as yours) developer by Youth Asia. One of their startup Groupsmore.com was officially bought over by Groupon.com

Maybe you will get that much of money if your website has potential? Hows your website traffic?

heh... I was just browsing Groupsmore and says.com few hours ago. The two guys who started the site are only at their mid 20s, amazing.

I just got my site running early this year... a long way to go. I have 2-3 more projects coming on though. So I'll be busy

They got a good headstart because of their huge youth base. Good luck.

Anyway, we are off topic.

well then, most forumers will be surprise to find high net worth individual lurking here instead of managing their own co
but they'll appreciate the advise & insight that was shared here, NOW get back to work & stop day dreaming

I believe you are then exposed to the corporate world and the ins and outs of a listed co. Then you should also be aware that for every successful listed co, there are many other non-listed sdn bhd/sole prop who owns/earns as much (if not more) but not subject to the public eye. Or perhaps they are not part of your clientele?

Asking for advise does not = following them. I just want to see other points of view. I do not want to be one of those fellows who are so full of oneself thinking that one has made it in life.

Private banker is a very loosely coined term. Most only offer basic UT or some DCI. I just want to know what else is out there.

In East Malaysia, swiftlet farming actually can produce quite alot. In my area there are like 2-3 folks operate their Bird House for 8-9years and currently producing 8-10kg bird nests monthly. Might be more than that depend on season too. 10kg x RM4500 = Rm45 000. Sadly mine is not that much .Property master like you sure can earn more than 1 mil p.a

Ah, swiftlet farming. I left that out. My old man has been in this for almost 2 years, just heard him saying that the bird house has started to produce some nest. Not sure how much though.

No, I'm not earning 1mil p.a. from my property. The passive income from my property has not reached even half of the mark.

*Just notice you are from Sarikei. I notice that Sarikei has alot of bird houses from my last visit a few years ago.

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Added on January 28, 2011, 11:56 amInterested in Lank Banking?

This post has been edited by edyek: Jan 28 2011, 11:59 AM

My ex-roommate create the betting website for a bookie group in Cambodia. He only take 2% loyalty from the total bet in the website.

I prefer not to let my friend take care of me as u don't want get interview from Bank Negara to declare my source of fund.

Since it is not a legit business, so hows is your RM 700k income consider ok?

If you are saying RM 700k for illegal business, then i would believe it is possible to attain that figure or even more.

Land is something i m looking into at the moment. This game is for very sophisticated invesntor with cash to burn. Unfortunately am not qualified as i didnt have nor will i have any inheritance money to play with, whcih is why my portfolio is mainly tangible real property where i can leverage with Bank borrowings.

But one thing i learn about land banking is you have to be patient. You hear a lot of ppl making tons of money from it, but there are equally as many (if not more) ppl who are still suffering from their cash being stuck in a piece of place which does not look like its gonna go anywhere soon..

Which is why the only land i m looking at are those where dev sells plot for bungalow plots.

As the land bank expert, care to share if you have any comments, esp for land around the klang valley?

Legal or not legal, Income Tax Act will still consider that as taxable income. Legality has no bearing on taxability, meaning you still have to pay. Gosh, I would love to be in govt.. you get paid for screwing the rakyat.

Xuzen

Of course, it is much more easier to invest and play with building properties but the risk is all the same with land banking. One may also risk the the housing project being abandon, government policies, etc.

But yes, it requires more cash/downpayment for land purchasing and there is no income as compare to building properties.

Buying plots for bungalow lots:
1) Higher purchasing price compare to raw land
2) Not easy to sell as you have to find the right range of buyer

I prefer land bank raw land which I can convert into :
1) Bungalow lots and sell
2) Commercial land and sell
3) Residential land and sell
4) Industrial land and sell
5) etc.

Not from West Malaysia, therefore I'm not qualify to comments on Klang valley.

feel good channel.. sorry, that's what I think every time visited threads regarding income and such.

True. But whatever it is, we all know after logging off from LYN, we still have to lead our real life on.

Age: 22
Occupation: 3rd yr Software Engineering student/ Part Time Online Business
Marital Status: Single
Asset(s):N/A

Study loan: N/A, scholarship.

Insurance: Medical Card
Investment:
ASB: 30K
AHB: 55K
Gold: a few gold bar,dinar and dirham coins

MT4 acc: USD 2 were left.

Cash in Bank - RM2K



any suggestion how to gain the assets etc.

Its not about how much you earn but how much are your liabilities. You can earn RM20K per month but if ure paying out RM15K during the same period then u wont have much left to enjoy a decent life.

By the way, earning 8K+ wont really allow you to lead a comfy life unless you do not intend to own a property.

for me, money generated by itself can give you comfortable live. but you need works harder toward it.. keep on work..work..work at young..after your age at 30 years old onward ,automated money machines will give you all what you want

- sorry for my bad english -

WOW! Nik!
At 22 yrs young, you already have such high net worth! Thats great going!

try and error in business. and also every sem break. working from floors and learn from there about the reality world nowadays..

from there, what i can learned, by doing the business and the right doing business based on nowadays demand ...i keep walking to learning from you all.

dont forget making investments also ..it might be worth at upcoming years...