Age: 30
Occupation: IT Administrator
Marital Status: Marry
Children: two kid(4)(1)

Asset(s):

House (2 stories)-
RM400k Outstanding Loan: RM 220k 7 years more

Car (Myvi)-
Market Value: RM 30k finish paid

Liability (ies):

Insurance:
Life: RM10k

Investment:
Mutual: RM10k
FD: RM 10k
Gold: 40k
Invest in company: 330k
ASW: 10 k
Cash in hand
RM6k

Nice.
But cash and liquid assets are on the low side. With 2 children, if I were you I would increase my cash holdings.
As we know, difficult times are not far ahead.

i think of money matters earlier than other youngster because my parents didnt set aside some fund for my education. previously i was a science student in high school, i planning to pursue studying civil engineering degree coz i like physics very much and i have much enthusiasm on building structure. at last, i ended up taking commerce stream bcoz science stream is very expensive.

i experienced working through part time job as a waiter and got bullied by people. i know hw hard is the life without money. however, i cant quit my job, because i need the money to finance my daily expenses. i take ACCA course because i want to have better knowledge about how to make more moeny through investment and have better job prospect. besides, the course only cost around rm30k in sunway university. so that i wont follow my parents path. I studied very hard previously in LCCI and get world prize in accounting. finally, i get ACCA full scholarship from jeffrey cheah foundation. bcoz i know if i dun work hard, i will ended up living in poverty likes my parent did.

Life is chaotic, dont u agree?

Your life is not as hard as what you think. Anyway, gambateh to your life journey. There are much more to be learn. cheers.

thanks. appreciated for ur encouragement. sometimes, i just want a listener to hear what i had gone through.
agree with u, there are still alot of thing i need to learn.

Well Done bro, I can see your great future from now, dun worry

I noticed the house loan only 7 years left, n u are 30, you bought it at an early age? Or gave a lot downpayment?

House (2 stories)-
RM400k Outstanding Loan: RM 220k 7 years more

I also dont understand.. remain 400K or 220K outstanding loan?

should b bought at Rm400k, still have Rm220k outstanding, according to my understanding..

Wow... means 220K outstanding and 7 years more to settle. If didnt include interest, just straight forward calculation also need RM2600/month for installment!

Looking back, I also took more or less the same route as you. Started working part time at age 16 for a pittance (smtg like RM 600 p/m) and still get scolded by this fat indian lady who expects me to do 14 hour shift a day (for 3 weeks straight), scolded by unruly customers who think they are "atas" and think they are always right and had my pay got deducted coz i count money wrongly (seriously after 14 hours shift for 3 weeks, who can blame???).

My house fully paid. Bought RM400+k landed 5 years back.

Having bachelor degree.

Currently 5 years just over, lock down period ends, house fully paid. Market price at RM800k.plus roughly

Monthly income average sgd8k now. Annual income about sgd95~100k. (currently) From a permanent staff post.

Monthly expenses about sgd2k but may hit sgd3k per month when I want to spend.

Single. non singapore pr yet cause I never apply before to save money for fully pay KL house.

Every month sgd 5k extra cash.

Age 31. single.

What is the best way for me to invest now?

My passive income is nil. As I exclude sgd 20k of profiting share with dividend annually 4-6%

My tax is killing me, since I can't do much tax relief.

What is the best way for me to generate passive income now?

Ya, i understand how it feels. i know u have been gone through alot. it doesnt feel good, but life goes on. hope we can together gambateh for our life.

You can invest in property in m'sia to generate passive income.. I'm sure you can afford a few investment property with ur sg5k...


By the way, the tax rate in sg is much lower than m'sia... And get urself a pr in sg n u can qualify for cpf (if not mistaken), another form of retirement savings...

Yeah thinking of getting it but might not be qualify cos the rules are very tight nowadays. If I can't get PR, I will back to MYR work. Offer here not bad though. My colleague company hire at sgd 12k per month without OT.

Getting money lock down until I'm old is meaningless to me. I need to make it flip as fast as possible and manipulate it. If PR 1st thing I do is to secure a property in sg due to high monthly passive income generation. Have to work more hard to get that cos last two years everything seems so cheap compare to now.

Tax rate in sg is lesser but also feel heart paint to see five figure ringgit rolling away just like that.

This post has been edited by REfreako: Oct 8 2011, 08:27 PM

Just want to know my financial health.


Age: 22
Occupation: Marketing Exec
Marital Status: single with gf
salary: 2.3k (just started 1st month)

Asset(s):
Started a business with 1k


House -
none

Car (Proton)-
Market Value: RM 10k finish paid

Liability (ies):
PTPTN: 47k

Insurance:
medical card

Investment:

Gold: 10k getting 1% per month

Cash in hand
RM 500

hope to get advice how to improve, thanks all~

You are very young and has just started out. What you have is good - the realization about saving and investing.

By the way, what is that investment you have where you are getting 1% every month for your Gold investment ?

pmed u~

Age: 38
Occupation: Own Business (Oil & Gas)
Marital Status: Marry
Children: two (12)(14)

Asset(s):

Bangalow lot :-
a) Damansara Kuantan (7.2k sqft) - Freehold
b) Astana Golf Resort (12.75k sqft) - Leasehold
c) Bkt Jalil Golf Resort (12.5k sqft) - Freehold

Car :-
a) X6 M
b) CLS 55 Amg
c) R8
d) Alphard
e) A4

Liability (ies):
Loan Installment, not an issues cause Dividend/Interest can settle it every year...

Investment:
Saving: RM1.25m
Current: RM750k
FD: RM36m
Mutual: RM2.5m
Invest in Business: >RM5.0m

There is nothing much I can say except outstanding, and you're only 38.