Don't need to think about how rich people get investing in bonds, stocks, funds or properties.

Get rich through your discipline by increasing your emergency fund/savings before you start to invest in anything.

since you just worked for 7 mths... but you gv parents 750/mth... not bad... i know some ppl never gv a single cent but still broke due to high commitment...

those who worked less than a yr should not aim to buy house or new car... try save as much as you can. let your job stable first.

Just did a balance sheet for myself. Here are the results:

i) Cash - RM 15K

ii) UT - 98K

iii) Real Estate
a) Commercial - RM 650K (bought 3 years ago @RM 510K)
b) Residential - RM 850K (bought 15 years ago @RM 300K)
both a) & b) is for self use

iv) KWSP - RM 130K

v) 2 vehicles - RM 70K (one commercial van & one family car) - fully paid up

vi) Business - valued at RM 350K (Kedai Runcit only)

Total asset = RM 2.16M

i) Outstanding mortgage = RM 395K
ii) No other outstanding liabilites

Net worth = RM 1.765M

Xuzen

Wow, giving parents 750 when your salary is 3500. such a good son/daughter. May god bless you

FD RM3500 la...not salary

Worked for 2.5 years already. Just checked on my $$$ health:

Plain cash - 5.5k + 50 ringgit right nao in wallet
FD (emergency fund) - 20k+
Stocks - 53k + 35k(float)
EPF - 60k

Debt- PTPTN - 24k

*Sigh... house still dun have and car is pariah.

Please advise how to go on from here:
-Apartment for own stay im looking at 400k + 100k (reno and all). Haven't start saving for it yet.
-Looking at 90k car, car right nao is pariah but usable.
-Have invest 5k in startup brick and mortar/online business. Hope this can grow big.
-Hope to grow stocks big big also.

If people willng to mentor me for for either of the 4 key points, I be glad to become mentee. Especially the last two points.

This post has been edited by kaiserwulf: Apr 8 2011, 07:31 PM

Ladies and Gentlemen,I find this thread is very GOOD.

I am new here
Can someone please guide me on how i can optimise my investment as below.


I also want to learn if my existing financial status and net worth is healty, lousy, etc.

So I want to share my info and hope that can help me .Please add your comment/advice.
Sorry all the asset are belong to me and my wife (2 person)


Age: Me 35 Wife 34
Occupation: Sales
Marital Status: Married with 1+1 (on the way).

(Properties:)/ (Purchase Value)/(Current Value)/(Current Outstanding)/(Monthly Instalment/Year To Go)/(Current Rental)
(Condo A) / (200k) / (300k) / (187k)/( 1111/25) / (1260)
(Condo B) / (153k) / (200k ) / (123k) / (600) / (950)
(Condo C) / ( 70 k)/ (75k) / (Nil)/ (Nil)/ (500)
(Condo D) (88k (In progress 1/2 shared with my mum)) / ( Nil) / (Nil) /(Nil)

Own Staying House -
(Condo E) (238k) (230k) (198k) (1000) -

1st Car (Japanese car)-
Market Value: RM 60k Outstanding Loan RM 40k 4 years more
2nd Car (Kancil)-
Market Value: RM 10k -no outstanding


Liability (ies):
Parents spents about 4k per annum (Medical)

Insurance:
Life: RM 5k whole family

Other Investment:
Wawasan : RM11k
Unit Trust : RM 10k
Oversea Land Banking : 32k
Palm Oil :25 k

Cash in hand
RM 5k

Please Help !!!!

:stars

This post has been edited by kokkeehouw: Apr 8 2011, 11:52 PM

you work for 2.5 years and you have 60k EPF?

Yup. If you have any advise on any of the four points of mine, I'm happy to learn.

I dont have any advice tho..but instead would like to know how much is your salary to get that kind of amount in your EPF..thank you very much am learning as well...

i works 2 year liao 20k also dun have

2.5 years = 30 months
30 months get 60k equals 2k per month (dont count dividend)
EPF contribution is 21% of salary (11% frm employer and 10% from employee)
so 21% is 2k....
his salary around 10k

first job already 10k? wow

Hi thanks for sharing,

How much is your total income and expenses?
I note that you have a couple of investment properties generating passive income, you are doing very well.

But I think your cash in hand (or liquid assets) is on the low side. Most of your money is locked in properties/land banking, if there is any emergency would you be able to draw up funds quickly? perhaps you got some backup elsewhere, i dont know.

I would have thought you should start investing some of your income into liquid assets (FD, equities etc) to balance out your portfolio.
Just my 2 cents.

10K salary, but his net worth is so low... I have a question, how much will your net worth be in 200 years?


This post has been edited by wodenus: Apr 9 2011, 03:04 PM

I notice that you have 4 of a similar kind properties. Convert them as a business, then you can do wonders with your tax part (I assume you are declaring your rent as part of your citizen responsiblity).

Your insurance is almost non-existence, you are vulnerable to unfortuitous events.

Your liquid cash is on the low side, try to get it up to at least 3x gross mthly salary as a cushion.

Xuzen

You forgot to mention EPF, how much you got in there?

interesting rental business! ya same comment, get more liquid asset (eg, emergency fund X3month)

if your work not stable then save up to 6 months.

and you forgot retirement plan..

i think he work in sales line, from what my friend work for Bank, their employer contribution is 15% and all commission earned will be contribute EPF

+1

wise advice. couldn't agree more.

Hi SilverfoX ,alexkos
Thanks for your advice ,agree with you to boost up on my liquid asset.Will also increase
my insurance coverage.


Wodenus,
My epf should be around 150k and my wife around 100k,can this be calculate into net worth as well ?

Hi xuzen,
IS it worth for me to convert my property investment into a company ?
Isnt that if i set up a Sdn Bhd will increase my expsenses ?
My worry is my passive income might not even cover a company basic exspenses like Audit fees, Sec fees etc