Precisely.

It doesnt take a genius to end up as millionaires in properties. As property investors, patience is a more important than the brain......

The quest now is how to get there fast enought to enjoy it.
Anyone can help to share some experiences to increase the speed of generating wealth?

before learning how to earn more, MUST LEARN HOW TO SAVE MORE.

Trying very hard to put that into practice.

Yo Mr Jacboy, Pls use wisely towards ya financial management. No ppl can hav such big big monies. Dun waste it by putting FD. N btw, y ins 20k? Die then 20k? Pls ensure ur life is well protected before doin any investment such as buy enuff ins to protect urself, if anythin do happen to u then ins co will pay. To me i will buy ins enuff to cover all my liability first. Then plan extra monies either in investing or do business. Plan well fren.

His achievements is commendable - imagine how much tax he has to pay on top of what he has managed to save-up,....

Thanks for the flattery words... yes, over the years I paid over 50k of tax... heck to IRS..

I think if every property also gain in prices decently while you can get a tenant to cover the installment, there would be nobody working anymore. All become speculator like whats happening in US right now.

Investment is something you do with your extra money, not straining your financial. If you dont have a place to stay at all, then by all mean, buy a house if you can afford it rather than paying rent.

One thing to remember. Many people trade shares too but not all are earning money. That something people tend to overlook. Investment is no guarantee to make money. Make that clear...

Read the spoiler.


http://forum.lowyat.net/index.php?showtopi...&#entry27229977

the first 'm' is the hardest to reach.. the rest gets a little help from its inertia..

hahaa.. how true. say, you're not a malaysian, are you?

if you're a malaysian.. you'll loose more than that hefty tax.. you'll probably loose you social security(you'd contribute but won't get anything from it). and which state are you at? don't forget to factor in the significant sales taxes as well..

i got slapped 8.25%(sales tax) at where i was back then.. ebay wasn't born yet.

it's nice to see a guy spotting this fallacy.. (that prices always go up)

1. it's true that alot of us would like to see appreciation of price in practically all classes of assets that we invest in.

2. unfortunately, this can't hold water in perpetuity.. (even if the argument is based on inflation, etc.)

3. if you read/remember history way back enough.. you'd realized that inflation is just a flimsy arguments. the lost-decade in japan was attributed by deflation, not inflation.

4. properties are good investment(period).. but is it because their prices always go up? not necessary. it is because they're good hedge for inflation? only up to a point.

the best thing is for you to keep a constant vigil.. because what makes money yesterday may not be a money making asset today (there're economic shifts, political shifts, social/demographic shifts, psychographic shifts, etc constantly at shift)

Guys - follow the thread starter - here is mine, just take look whether the allocation makes sense and what else can be done thanks


Age: 40+
Occupation: Engineer
Marital Status: married with 2 kids
Income per year: 500K

Asset(s):

House -
RM700k - all paid up

Car (two Japanese car)-
Market Value: RM 130k total Outstanding Loan RM 40k 3 years more

Liability (ies):
None

Insurance:
Life: RM40k (premium per year for family)

Investment:
Bond: RM15k
FD: RM 110k
Government bond/UT: RM145
Share - Msia: RM130k
Share - US: RM400K

Cash in hand
RM90K

EPF
RM840K

Dreamer, who is ur bro in law ? i am in palm oil too. refinrey. which platation he in ? if location wise, i can buy the fruits from him.

i owned palm oil plantation too, about 40 acres in teluk intan, are you trying to say i am a silly person to buy ?

in your bro in law case, i will say, refinance and buy palm plantation is not a very wise move. Dreamer, you have to understand that an acre of palm plantation will only generate you about 1 tonne of fruits in about 20 days. 1 tonne, before expenses is about rm 400 nowadays.

some other big player, which they allocate from 1000 acres of land is due to they have the positive cash flow and most importantly, they have their own refinery factory.

by the way, palm oil industry in malaysia is a long story. will talk unfinished.

regarding JASON,
I do agree completely with you that if you make good use of debts, it will generate you more income. GOOD DEBTS are important. for the persons that do not understand GOOD DEBTS, they are just some conservative people, with no business mind.

one more thing, if you want to make huge sums of money with good business prospect, the only solution is OWE THE BANK.

owe the bank?

or you can be the bank.. raising capital via equity or debt papers.

wow, ur monthly taking is about 42k. i think u are not engineer, u are the director of the company. so, u must know one of the director of UNISEM. I think u earn more than him.

is this a US' portfolio?

pool, u've got significant earning power. I think the above doesnt tell us 2 things which is quite crucial, which are :

1. how much can you save every month?
2. What kind of return u wanna get from your portfollio?

But have to say I look your portfolio with utmost admiration especially when your car is less than 30% of your annual income. A lot of ppl would have easily gone for Beemer X6 etc with that kind of salary.

---

Added on September 16, 2009, 3:47 pmu right, the above statement is a falacy. The real statement should be :

that prices always go up OVER long term when it comes to real estate

This post has been edited by Pai: Sep 16 2009, 03:47 PM

1) rm 250 k per year
2) i do not mind 30% for high risk/high return

Car? ooh - i go for need, not want. i have a pick-up for weekend excursion/off-road and thats all i need and of course bring me to work KL downtown. my line of work does not require me to see customer so no reason for me to buy luxury cars.

Basing on Pool income, and his EPF,
The duration of time he has, he could have being easily 10x richer from his existing position, if he has actually work properly on his investment, nevertheless with that sort of income, he may have alot of work to do other than sitting down thinking about the way to invest.

Apart from that, I think he is quite a heavy spender, not on car maybe.

Very very impressive, I was wondering whether u set up a fund for ur kids' education need (may be in the insurance I supposed )? how old are they btw?

now tht i have a bigger target to work on, 500K p.a at age of around 45...