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!

Or just keep "keeping up with the Joneses" and be green eyed? 

If you don't do that, you would not improve yourself..

If you don't do that, you would not improve yourself..

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.

If you don't do that, you would not improve yourself..

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

Very rich friends you have there  36 months of saving and investing coming out with 300K 

Rich parents kuah..... lets get real in M'sia nobody makes RM300k during their 1st 3 yrs of working (put things in perspective - the starting pay of an engineer is RM3k)

he's right.. most of my friends are too..  not easy but not tat impossible either.. some of them degree is not even second upper..

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Added on July 26, 2011, 8:29 pm

with overtime they would double their monthly pay..

Er.. ppl earning $3K gets overtime? Nice.... which Company ar? I'd like to work with them heheh.

In about 8 companies i've been with (from MNCs to Chinamen Co. to DotComs), once yr basic is >=$1.5Kpm, U eat yrself for OT. Maybe lunch/dinner $ lar, which is like $10 to $50, depending on level and company.

i cincai create my account last time, now already correct....im a healthy straight male

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Added on June 10, 2011, 6:04 pmim just doing everything i can to retire by 35 or latest by 40..

retire in a sense that stopping myself from doing something i dont truly enjoy and to end the constant fear that i may be sacked anytime just because my year end evaluation is not good just because it is not written in bombastic exaggerated way, my politic in office is not up to par, i am not 'visible' enough in the company, new boss change every 3 years which means new target to meet and new stuff to adapt..this is energy consuming and will eat up life
so right now, my target is to struggle all out to get at least 4 million buck by or before 40, with or without inheritance, and just dump it in amanah saham, wawasan, didik, or equivalent, gaining around 6% per annum and just njoy, travel and do good deeds until i die.

Capital investment:

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

Hi all sifus,

Age: 25
Occupation: xxxx Engineer
Marital Status: Single with gf

RM2950 take home pay.

Asset(s):
None

Liability (ies):
None. Staying with parents. Car loan by them as well.

Insurance:
None by myself. Parents paying for me.

Investment:
None

Savings account
RM48,000

Monthly spending:
1. RM650 for petrol and toll to work (100km/day)
2. RM250 car maintainance (about 3k/annum to maintain this japanese car)
3. RM500 for food
4. RM300 for entertainment
5. RM250 Miscellaneous

Monthly savings only about RM1,000. If one day my parents unable to support anymore i will be in deep shit.

I just started buying books and reading about investments. Please help me.

If parents are footing the bill on utilities and car loan (some others even include insurance), is this considered savings?

Its like income + parents contribution - expenses = savings? So what happens if income - expenses = (-ve) value, THEN parents contribution adds up to (+ve) value again?

Is this (+ve) value savings?

Ps. No offence at ntdote but your post triggered something I have been noting about some of the Gen Y'ers.

LYNers please clarify.

i intern b4 in a company where spm holder would get ~10k after overtime..driving toyota estima to work..  like they say..the world is not that small..

Hi everyone.

Sorry for not following the format. Just sharing some information on increasing your wealth...

Most of everyone knows how to earn money. But how many know how to master the inner game of wealth correctly?

I read this book called Secrets of Millionaire Mind by T. Harv Eker.
It's very good book to read as the money blueprint of most everyone is brought by parenthood or habit taught in the childhood. After reading the book, you have different view on money and how to think like millionaire mind and to be a one.
T. Harv Eker shares his failure and success stories in this book.

Just sharing the back of the book, one of the paragraph says
"Have you ever wondered why some people seem to get rich easily, while others seemed destined for a life of financial struggle? Is the difference found in their education, intelligence, skills, timing, work habits, contacts, luck, or their choice of jobs, businesses, or investments? The shocking answer is:None of the above!"

The book can find in any bookstores in malaysia. Last check on last week online, book stores are selling at RM34.90
If only RM34.90 can give you the secrets of millionaire mind and get you started to master the inner game of wealth,... is this worth to get one to find out your own? I did my own decision, i bought 5. Gave 3 away to my relatives & friends.

Thank you.