Did u spend on renovation, wedding, further study?

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Added on May 12, 2011, 1:05 pmStatus Married
Children - 0
FD - 0
Stock - 0
Mutual - 0
Savings 8K

3 houses
Own 30% PJ - 500K
Own 100% Puchong - 400K,
Own 10% Georgetown - 1 million

Installment Loan
rm2500 monthly

Credit Card Debt
rm10K

Max can save rm1K

I very "kek sim" every month....Any advise for me?



This post has been edited by geolee: May 12 2011, 01:05 PM

whats your annual income and does your wife contribute to loan repayments?

No, intallment i pay alone...annual accome 95K

GeoLee - y U "kek sim" ar? U've got 3 houses, 2 of which i "ass u me" (my apologies if i'm mistaken) is making U cash flow $ from rental.
Other than that - your other ratios are not in healthy shape IMHO (just an opinion). Spend less, pay off them Credit Card debt & build up yr cash savings as emergency buffer of at least 3 months average expenses. Then you'll have a good base to grow - especially when U have 2 properties making U $.

FYI - my own $ management for Net Salary (excluding all other income - all other income straight recycle into assets)
10% for Feel Good (charity, fun for self / others)
10% for emergency buffer (until built-up 6 months average expenses, then add to investment)
10% for investment
10% for education (books, classes, my child's SSPN)
10% for accumulation for future specific spending (ie. that changgih LED TV i've been eyeing)
50% for necessities

Mind U, before this, i was like nearly everyone else focussing on making $, not managing $ + making $.
Wasn't doing as well now and mind U, i've "just" (3 years ago) went through one of the bloodiest (in terms of bleeding $) times of anyone's life and lost more than 50% of my net worth.

Keep cost low + make more $ = double whammy of asset building

I really appreciate any input and feedback..what should i do to achieve financial and time freedom, i hate to work for other people, and plan to relax or do business by 35 birthday.

Age: 26
Occupation: oil and gas ( 1 year and half)
Marital Status: single with gf.


Asset(s):

House

House 1 - rm 400k (outstanding loan: RM 273k at BLR-2.4% 40 year loan, (monthly installment: rm 1120)
House 2 - RM 230k ( oustanding around 230k, complete by 2013, now paying progressive. blr-2.3% for 30 years)(monthly installment: rm 1101)
House 3 - rm 340k ( Oustanding loan: 237k, monthly installment rm 1010 for 40 years at blr-2.3)

Car (Malaysia)- market value 45k: fully paid
epf: around 10k or less.

Salary: rm 4500 monthly gross

Capital investment:

Precious metal trading/high yield investment (Around 30% per annum: RM200k( capital)
ASB (8.5%/annum): RM 260k( capital)


Investment income:

Rental income: rm 1300 gross/month
Investment income from precious metal trading/stocks/: approx rm 5.5k/month

Liquid Asset/Cash:

Savings/cash: RM 4k


Insurance:
Life and other: rm 1800 a year(not sure what it covers, since been bought by parent since young and now i just continue the pay)

misc:
future inheritance: approx rm 4 million ( 60% property: 40% cash/unit trust)



Liabilities:
Cred card: rm 9k
Housing loan: all 3 house (approx : 3.4k monthly once 2 of the houses complete construction)
gf: rm 700/month
Dad: rm 2000 monthly payback to him because i borrow around 200k interest free cash loan
personal loan: rm923/month for another 10 months

expenditure: around 5k more or less (food, fuel, toll,, entertainment


thx

This post has been edited by rzkb: Jun 6 2011, 09:26 AM

WOW! Now i know why the houses prices are up so high!

So much speculation.....hopefully you guys can stand a tremor when it comes........

4.5k salary owning 3 houses? Good luck matey

I was just about to ask the same as i couldnt really absorb how... maybe i'm just thick.

RZKB, i really can't make heads/tails of your net worth (again i'm a bit slow ) unless i plonk down your data in a net worth spreadsheet, especially when your net salary should be about $4K pm + net rental income of about $1K, yet your monthly commitments are like.. whoa.

In addition, I understand U took a loan from BoP (Bank of Papa ) to invest in high yielding stuff - 30% per annum returns?! Looks like U are the dude that have to be sharing/teaching us these leh If one cant sustain a 30%pa returns year to year consistently, then one can beat even the Oracle of Omaha (i hope i got Buffet's nickname correct)

Bottom line, something just doesn't tally and your D/E (debt to equity ratio) looks really lopsided (ie. highly geared/leverage) as yr cash flow seems to backed by that 30% pa returns. Well, if BoP stands firmly behind U, i don't think it's an issue but.... Murphy may have his ways.

Perhaps later i'll crunch your numbers via a spreadsheet mate, still running with some stuff.

This post has been edited by wongmunkeong: Jun 6 2011, 11:30 AM

My networth keeps going down because the stock I've invested in keeps going down

Perhaps your net worth % is tied too much to 1 asset category AND sub-category. What are your EXIT rules or plans for this stock that has a huge impact on your net worth? I do hope U do have some in hand

This post has been edited by wongmunkeong: Jun 6 2011, 09:52 AM

Too little cash savings for emergency and too high expenditure especially you are not married yet. And try to pay off your credit card debts which interest rates mirror that of the loan sharks...

BTW do you know that your expenses is more than your incomes???

Just curious, how come your gf gets an allowance for just being your gf?

Thanks all for your input and time to think about my post, really appreciate,

Anyway, yes, based on my excel calculation, i am bleeding money, im spending more than im earning right now, too much entertainment and food,

i just got back from the lawyer's office just now to sign the S&P and loan docs for my third property, and suddenly i realize, i will be in deep trouble if things go wrong in my high yield investments,

yes prophetjul and wong, i do have 3 properties, but im just planning to rent the 2 condos and cover the loan and give some profit, and sell the 400k house once the price is right maybe another 4 years i estimate, in mean time, i rent it out. If i need to sell all, i will sell all, the freehokd condo in PJ i can sell within one day, already test market, but i didnt sign the buyer's booking docs..the other 2 props will complete by mid 2013.

i will slash down my food intake, i eat rm40 perday currently, i spend alot to entertain myself and my friends, that one will slash too..
about the 30% return, its a private investment which involve mostly trading, and i do keep the collateral for that so it is not that high risk, since i can liquify the collateral if something happen to the trading..but so far so good, i can exit anytime.

as of the loan of my dad, i can kowtim with him to delay payment, if things not smooth suddenly..

jphlau, this year i will get 4 months bonus, so i will keep that cash for cash reserve..im planning to pay cred card rm 900 a month until finish ..yes i will cut down expenses

michaellee, about the gf thing, basically im part sponsoring her studies and life, already made a deal where i will take any amount of her future gaji whenevwr i like when she starts working, and she happily accepts my condition.

Fuiyoh, u are one lucky fella. It's good to have a rich papa as back up.
But I think ur gf is more lucky la, every month gt pocket money wan.

26 y.o and ur net worth is more than half a mil
Plus future inheritance of 4million sum more. Very nice.

Good karma / fate / etc. gua.

Oh well, this lemming's gotta go back to work.. i owe, i owe, off to work i go.. (to the tune of the 7 dwarves' hi ho, hi ho)

Age: 21

Managed Savings to date: RM18K+- and still accumulating

Business: Food Trading

Monthly Income: RM3000 +/-

Investments: 50k in ASB (thats all =.=")

Commitment : Bills - RM100
ASB - RM300+
Food & Entment - RM 300+/-
Misc - RM100

Total - RM 800+/-

Properties Owned: None

Vehicles Owned: Proton Satria-PAID, Kawasaki Ninja-PAID (now gatal2 already to change to Vios)

Future Plans: Thingkg of a creative education business or else my design diploma means nothing.

Planned ways to maximise weath: Earning more k's every month and save! (since i've no idea how to invest)

I just wanna know..Am I on the right path?

This post has been edited by IFX: Jun 6 2011, 06:37 PM

Walau sure boh?
When I was 26 i have 2 house but already struggling like mad to repay, even with the positive cashflow from 1 of the house (rented out), no other investments. Damn yr good !

hello all,

Please give me your comment/advice/opinion too:)

Age: 29

Assets:
House1: RM250k (loan balance 50k) installment RM1500 pm
House2: RM260k (loan balance 200k but I put RM180k * inside the flexible loan account) installament RM1200 pm

Cash: * RM180k in the flexible loan account for House2.
Cash in hand: RM10k
FD: RM150k
EPF: RM170k

Liabilities
Car1: Loan balance RM90k, installment RM1500 pm
Car2: Loan balance RM20k, installment RM1000 pm (my gf is using it)
Special Loan from relative: RM80k ( wont have to pay up yet but due to family issue, but when quarrel then will have to pay up 1 lump sum)

Income: RM8000 pm
Expense: About RM7500 to RM8500 ( you see I am starting to use my savings in FD little by little and my flexible account)

I think my out flow of cash is too much and i have quite BIG expenses. Sorry, no way to trim down due to my heavy installment and life style.

can you advise
1) my financial status is healthy/sick?
2) i tot of settling house 1 but still got penalty period. Should I?
3) i tot of settling car 2 but its pointless as the interest is only 2.9% and its better to "park" the risk at bank
4) other suggestions and comments are welcomed.

Sekian terima kasih

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Added on June 9, 2011, 10:11 pmALready started venturing into the share market now?
Wondering how you made 250k:)


This post has been edited by johnrck99: Jun 9 2011, 10:11 PM

Sorry if I am too conservative, but you are a female with a girlfriend?

johnrck99, at what interest rate are you paying your mortgage?
The repayment seems to be ridiculously high for the loan amount, and with such high offset cash in the flexi account.

Now i know why the housing price is sooooooo high....

Now i know many people at my age are earning good salary... looking back at myself.. Sigh!