not as high as can be bro (hitting 40s soon) due to:
a. younger & dumber days activities
b. divorce.. yeouch! effectively more than 60% gone there due to pay out & rebuilding a new home for myself & my little girl
c. worker ant / lemming

Worried "someone" (no, NOT ah longs - worse) is looking here as i used my real name (and try pressing me for more) , thus, if i may give U an idea (but not exact figures) + percentages of asset allocation

a. My current net worth is less than yours if U keep growing it at such rate until U reach my current age
Assuming U've been in biz for 5 years to create your net worth posted earlier, U'll definitely reach my current net worth by the time you're 38
If U've been in biz for less than 5 years (say 1 to 3), holy smokes - U'll cross my current net worth in about 5 to 6 years.

b. Aim to hit >$3M in real assets (ie. excluding cars, furniture, etc.) by the time i chose to retire - achievable all else being samey samey (ie. markets up/down, no pay increase, no bonus increase, nada).
Lala-land Aim: to hit >$6M and leave at least $3M to charities and family.

c. Asset Allocation held currently.
Pls note that this is NOT my planned allocation - i allocated resources to buy assets via VALUE (buy good Companies' stocks during fear) or PROGRAMMATIC (every quarter using DollarCost + ValueCost averaging) but somehow it's all stuck in bonds & FD since mid 2010 .
Thank God since now it's a dip - mega sales coming soon.


If U want more details and discussions (i'm all ears to learn from a biz person's perspective - btw, i'm also in the systems and solutions line BUT auto industry - worker mar), "private message" me .

This post has been edited by wongmunkeong: Sep 2 2011, 07:31 PM

@wongmunkeong,

I expect a simple answer of "RMXXXXXK" from your reply, who knows, you gave a looooooong answer...

Dont lar sis Debbie - dangerous lar putting in ACTUAL numbers here, especially when i have "someone" looking to press me for more

Anyways, back to biz - i think the sample of Asset Allocation tracking + Asset Allocation based on methodology used tracking is more important, a good example of "one view" can see one's risk exposure if sh** hits the fan

This post has been edited by wongmunkeong: Sep 2 2011, 08:13 PM

You just put a rough figure, who will know how much exactly you worth?

By the way, I really can't understand what you meant for the second paragraph....

Hehehe - rough figure also my antagonist may use against me leh

Anyways, 2nd paragraph = if U look at the snapshot JPG attached in my reply to bro's Q, U'd see a simple one-view to know:
a. Asset allocation held
b. Amount & % of assets invested with what Methodologies used
c. Risk (due to entry/exit methodologies) if market goes down

Just thought it'd be a useful point of view - something like a "management cockpit". Yeah yeah - i'm an IT guy

Thanks for sharing.

Wish one day to learn more from you.

Hahaha..good one!

i am 49 years young.

Using Wong's spreadsheet

Assets

a) Fixed Income = 1.6 mil
b) Stocks, Equities = 1.2 mil
c) Investment Properties = 0.9mil
d) Alternate = 1.35 mil

Liability

a) property = 0.15 mil

Income = 25k per month

Insurance = 1.2mil life cover

i plan to send my two children 12 and 16 years for overseas studies. - set aside Rm1mil each present value.
Plan to retire 58 years old with annual expenditure of Rm120k present value.

Is this achievable?

This post has been edited by prophetjul: Sep 5 2011, 07:32 AM

Just curious, is your children excel academically?if they arent good, lo. cal is better n cheaper too. Otherwise basically you are sending your children to disneyland. 120k expense per year is 10k per month. With your current asset, it is possible. more than that.

Thanks for your reply.

For education, thats the plan. i dont like local education. But thats another discussion.
120k is present value..........discounting future inflation

Bottomline: YES achievable for both RM1M for children's education
AND your retirement
AND added bonus of having something to give back to society & your children's future generation
EVEN WITHOUT additional savings & additional investments (other than re-investing)
Caveat: Assuming (yes, THAT word again ) that the %pa of expected growth/returns & average inflation %pa i used is close enough.

Details and for your own "cooking" of numbers, growth/returns %pa & inflation %pa, see attached
Normal disclaimers apply: Use at your own risk

And yes, i concur with your perception of our local edutainment.. oops, i mean education
In addition, giving our children options and experiences overseas is good if one can afford to without killing oneself - which U obviously can

This post has been edited by wongmunkeong: Sep 5 2011, 09:58 AM


Attached File(s)
 Children_s_Education___Self_Retirement.zip ( 9.96k ) Number of downloads: 23

Are you satisfied with the country you are currently in ?

If you are, then what you have planned in the above is right - basically set aside funds to finance your children's studies in future. However, be very careful of how you nurture them, what mois said is very true. Many kids sent overseas without proper guidance end-up 'being in Disneyland', and they return to Msia with nothing except for a piece of paper.

If, on the other hand, you are not satisfied with the country that you are currently in, or yearn for adventures personally, then work towards a PR-status in the destination country, which will be your chosen country for yourself and your future descendants.

With a PR, the education costs will be lower, you will be staying near to your children whereby you will be able to monitor and nurture them continuously because you will be staying with them. And you can start a new life in your preferred country, follow the laws of that country and live with the people there.

Two possible paths to take !

Whats your assumption of %pa of expected growth/returns & average inflation %pa?
i am ususally assuming

growth before retirement at 12% pa
After retirement at 8% pa

Inflatiob at 4% pa (maybe too optimistic)

Another point is : talking about local education, to be fair, if you wish to survive and work in Msia, then it's perfectly okay and fine to go to a local U. The degree from the local U is recognised by the Gov't, and you can put your endorsements for many professions.

However, if you wished to go beyond int'l boundaries, and work in another country, then even Singapore degrees are under doubts, let alone Msian degrees.

So, it depends on where you foresee your future generations to be in, to live, and to work.

Think deeper, do not follow blindly what others say.

On this idea (migration then education), just to share what i read over the weekend on Australia (AU)migration:
1. To qualify for migration based on retired investor: minimum AUD750,000 investments in AU
+ need to proof monthly income (when in AU) of AUDx,xxx per month
2. Ppl migrating via such method are not entitled to "free"/gov sponsored health care
3. Processing fee for "consultants" RM40K to RM50K

Mind U, i was flipping through and EXACT details may be off a bit

There are of course other methods of migration to AU (too detailed to post here) - U can read it in this month's Personal Money magazine if i'm not mistaken on the source (read too many donkey stuff over the weekend since my little girl was away with her mother )

i know about this kids overseas thingy..........i was one........
AND in this time and age, i will not encourage them to come back for their careers........why spend
1 mil and come back for a 2.5k p month salary?

i am not satisfied with Msia....however its too late for me to migrate or staff like that at 49 year old
unless i am a crooked fella with lotsa $$$$$$ to be an investor migrant.
NO i canot afford that. So its too late for a PR- probably my greatest regret.
But nevertheless, i hope they can have a choice which i did not .................

Bro, generally i agree with U.
The reality is that our children may not be able to get into local Uni per se, unless U mean local PRIVATE Uni.

BTW, Singapore gov Uni i heard (yet to check yet coz my child's not even 5 yet heheh) is recognize (NUS lar dunno about the rest) by HK & Taiwan Gov too. Given that, I think its acceptance will be better than our local Uni's paper. Er... not TRUTH per se, just an opinion yar (wearing bullet proof vests now).

Theres a cheaper way through Indonesia.......get on one of them tugboats and float across as boat people....
this is serious. Many are doing it..........

er.. I'm assuming yr Q was targeted to me yar
Personally, my assumptions are as per the Excel zip file i uploaded for U:

Average inflation pa: 6%pa
Stocks & equities: 13%pa (assuming value investing & companies with strong fundamentals)
REITs / Properties: 8%pa + 2%pa to 3%pa capital growth (slightly lower than inflation) if hi-rise
Fixed Income: an average of FD (3%pa) + EPF (5%pa) + Bonds/Bond Funds (6%pa)
Alternative Investments: depends on the "alternatives"

Play with the Excel bro
I hope to at least achieve 80% of what U achieved, assets accumulation-wise, by the time i'm 49
May i ask - you're a working stiff (like me) OR a business person?

WMK, good feedback there.

If one thinks deeper, and really undertakes something with heart (I do think you are such a person too, ) and mind, the methods put forward are costly. Like you said as well : there are other methods for migration too. And perfectly legal methods too at that, like I said earlier, follow the rules of the chosen country.

If Australia's system is not satisfactory, then why choose Australia ? It'll be like jumping from a hot wok into the hot frying pan, right ? Study well the different countries (every country has its pros and cons), then choose the most satisfactory one.

You are a good man when it comes to children.