---

Added on July 28, 2011, 7:02 am

Bro, thank U for reminding me that the world aint that small. I'm sure well connected peons/bankrupts have millions of $ too but they arent the norm lar .

[/quote]

well, am not sure about those who does not follow the laws, aren't interested in them either. let God deal with them, we have our life to care about.

am still studying so this just a thought but i think these company will be found in 1. energy related field, 2. consultancy related, 3. sub-con jobs 4. work oversea. Reason being: No company beats 1st benefits and how far an employee could go, 2nd is best because ur pay increase as ur experience level increases, and generally no such thing as retirement due to age. 3rd has the lowest entry barrier but it's also the most fragile in terms of job security. 4th is for the person when he/she is young.

forget about S&M process industry...those are for u to gain 1/2yr exp or when u need a job instantly but can't find one.. by the time u pay ur life to help those company gets top500 in forbes, chances are u are not longer required - the ugly truth.

i know there are news around broadcasting that graduates demand too much etc, but put on our because we know if we can communicate in quite proper English here (oh yes, those spm holders that I mention, could, they were trained by the company in technical and soft skills, no relations required. ) , we just need to step out and try, and if all fails, at least we have tried. hope to see you in the top of the world.

---

Added on July 28, 2011, 9:49 pmlol..there are engineers with this pay at this age..assuming his pay start flourishing at 35, he saved ~2million in total, not bad huh.. respect

This post has been edited by poolsurf06: Jul 28 2011, 09:49 PM

OMG I can't stop laughing . I have to say your post made my day! I <3 it

Adopt the ways of the book in your life yet? Going to Time bookstore to look for the book and see how it goes.

Already did since 2008 - hard as nails to live on 50% of net salary... heheh. However, as U get used to it and simplify, U get a tremendous turbo boost in net worth coz necessities cost down, while increasing income. Simple biz logic

How do you do to achieve 4 million of you are not strong performer in the company?

nope, u missunderstood, i meant want to get that amount while doing things on the side, when i accumulate enough, i can stop office work

Hi all sifus,

Age: 28
Occupation: Bizman
Marital Status: Single with gf



Asset(s):
1 Condo RM 250k (Owe Bank 215k)
1 Semi-D RM 660k (Owe Bank RM 559k)
1 Shoplot RM 2.2mil (Owe Bank RM 2.0 mil)

Liability (ies):
1 Apartment RM 120k (Valuation RM 250k , Owe bank RM 100k)
1 Merz E Class RM 350k (Down RM 150k, now entering 2nd year)


Insurance:
RM 2.4k p.a

Investment:
No stock, no mutual funds in my life !

Savings account (Up-to-date)
RM 750 (Wahahahha !)

Monthly spending:
1. RM1,000 for petrol and toll to work
2. RM250 car maintenance
3. RM1,500 for food
4. RM1,000 for entertainment
5. RM1,000 Miscellaneous
6. RM 500-RM 1,000 to parent

Monthly Income : RM 10-30k

same here. i have that aim as well. really tiring keeping up with the politics and other stuff in corporate life.

Nice details, although i'm no seafood, may i take a stab at this?


This post has been edited by wongmunkeong: Sep 2 2011, 02:22 PM

The residential is under cont.
Shoplot receiving rental with -ve RM 1,500 / month

btw, what you stab on? I cannot get it.

You got a very geng excel program ler...wahaha

I got Milan one last time, but yours is more geng, can give comment some more.

Wahahha

Take a stab at analyzing your data, in my own point of view lar . Forum mar - share ideas / point of view. My apologies if i'm intruding yar.

Hm.. -ve rental (ie. rental pm < mortgage pm) of RM1,500? That knocks down your monthly cash flow, which the lowest to be about $3K+.
Hehheh - phew, scary leverage in my opinion. Thus, i stay a working lemming

Overall, looks good net worth for a 28 yr old. Just watch out on your D/E leverage which needs good cash flow to support in case of hiccups.
Just an opinion - U may want to stash / asset allocate some % of your assets to bonds / bond funds IF U don't pay yrself EPF.

Milan? who's that?
Joking joking.

This post has been edited by wongmunkeong: Sep 2 2011, 02:34 PM

Oic...I tot is sort of Rikimaru (Dota) skill..wahaha... Kidding also!

Thanks for your advise, I plan to give myself some EPF as it will help in my next loan in 2012, another shoplot !

I will fork up another RM 150k by the end of this year to restore my saving and emergency back up.

Just 2 cents to share, I have put a thick butter to all my mortgages / cars (1 year advance mortgage payment) to be auto instructed monthly. These advanced money is excluded in my calculation and I always treated them as " not my money".
With that, I can buy more props more confidently.

Mind to share what business that can such high income a month?

Bro - you're a man with a plan - one who can't be stopped, it's just a matter of time before U reach your minor & major goals

Hi,

I am doing IT solution company.

I have another company doing some trading as well.

For me after I have gone through some trail and success bizs, I keep these two biz.

I find that is not about what biz which can bring you the money, is about WHO do the biz.

Cheers !

Yup yup - best customers are PARTNERS IN GROWTH. Win win
other than that, er.. WHO becomes a bit grey/shady Ninja-dozo!

imho . isnt the insuran of 2.4k a little insufficient? just in case anythng unwanted happen

Hi,

My ultimate aims is NOT TO HAVE INSURANCE in coming years.

So I just put minimal portion for that.

I never view Insurance is any kind of investment or savings. As I gain no control on my $ by the time I put them in.
Similar to Mutual Funds.

You're right - insurance is a no-win game, it's just coverage UNLESS you're looking to shield a sum from creditors for family to inherit

When U reach $0 insurance needed, in reality, U'd be "in-sourcing" the insurance, ie. self-insured
My aim too heheh but for now, i still need DEATH (no, not life ) insurance & Hospitalization insurance just in case , to cover properties & self until all paid-up and i can more than afford to go zzz in a hospital (choi choi)

As for Mutual funds... U may want to look at bond funds bro.
IMHO, you're on the right track for Asset Allocation - Equities : Properties : Fixed Income
You've got your businesses (Equities), U got your properties, now.. Fixed Income (EPF, Bonds, Money Market, FDs).
Just a thought

This post has been edited by wongmunkeong: Sep 2 2011, 03:54 PM

mind sharing your net worth?