U can refer here, read collateral requirement..

http://www.standardchartered.com.my/sme-ba...press-trade/en/

others bank are OCBC & HSBC

Age: 28
Occupation: salesman
Marital Status: single
salary: 2950
business :200

Asset(s):
House: none
Investment: none
FD: none
Motorbike: Honda EX5 12 yr old , market value = 2k.

Liability (ies):
PTPTN: 25k (paid few times)
Personal Loan : 1k (will end in mar 2012, RM260mthly)
Car loan : 41k (6 yrs to go, RM573mthly)
Insurance: none

Cash in hand : RM 11, 000 as in end of october

This post has been edited by georgelimsk: Nov 5 2011, 05:22 PM

Age: 24

Assets: 35k(shares)
Motorbike: 1k

Liability: None

hi leonhart88,

"SO young guts to buy share"
I have question to ask how you archieve such amount ?
How you inspire to buy stocks?
How you much you save monthly to buy such stock every time ?
What stock you purchase, capital , and purchase date ?

This post has been edited by felixmask: Apr 6 2013, 10:14 AM

I have worked since 21 yrs old. My first salary is RM500.
My average cost of living is RM500/mth. I don't live with my parents.
I don't contribute money to parents since they are well enough.
I have lost money in stock market about 65% of my portfolio because right issue thingy in bad companies.
I was inspired by WB.
Stocks, my gain from last 4 mths I invested in IDX. Comprise by BJTM. My first capital is about RM3k.
How about you bro?

Not as good as you yet.

is this sarcasm? because you're 30yrs old and already settled. You should have much much money than me.

hahah nowday my pay check is another paycheck to other ppl end of days. Must ask my wife - how much my net worth.

Resurrection of topic from the year 2011 !

Zombiessss

Got 6 figure or not...?

To see if you have the required networth for your age use the following formula ...


Thomas J. Stanley's and William D. Danko's expected net worth formulas

Formula 1: Expected net worth = age x 0.1 x gross income.
Formula 2: Expected net worth = age x 0.112 x gross income.

Marotta Asset Management's expected net worth formulas

Formula 3: Expected net worth = (adult years / 240 + 0.1) x adult years x gross income; where "adult years" = age - 20.
Formula 4: Expected net worth = [(age / 166) - 0.15] x age x gross income.


Gross income is before tax per year.

You all can calculate if you all pass or fail....

Report here.

Reporting in Sir Gark!
me net worth is 33.33% or more above all them above formulas' expected net worth sir....
but... i still don't feel rich or wealthy, just blessed and thankful

This post has been edited by wongmunkeong: Apr 6 2013, 02:20 PM

I marginal fail

Wait, EPF kira tak? If kira EPF I pass

This post has been edited by Pink Spider: Apr 6 2013, 02:24 PM

kira EPF lar bro.. maybe not cars and TVs & iphones lar tu fake assets

Then I pass +25%

if i'm not mistaken, those formulas shared by Gark-san is just the AVERAGE JOE expectations.
U want to be wealthy? Need to be XX% above those
1.49 based on The Millionaire Next Door & the following book (Stop Acting Rich & Start living like a real millionaire... or something like that ) if i'm not mistaken

eg. average = 10% savings
above average >=20% savings

Since U are an Excel wielder, i think it'll be better if U do:
a. each row = 1 year
b. Columns = Gross pay per year, XX% savings yearly injection, Accumulated Savings *(1+8% as returns) +new yearly injection
c. play with the xx% to see the last row (ie. up to your last year's pay) VS your net worth

Draft idea above yar - hehe, mine waaay too detailed to share as i even track EPF from employer and windfalls
Thus i can compare whether i'm saving how much % in long term effectively and safely extrapolate how much i'd be able to allocate for future goals (kids' Uni, partner's bucket list, etc.)

Just a thought

This post has been edited by wongmunkeong: Apr 6 2013, 06:02 PM

Wong Seafood, why strain my brain on my off day

See la when I free I try

I get your point, Unker gark's formula is like saying, to put it simply, "saving at least 10% of gross income". If we want a more comfortable retirement years, we should do a lot better than that.

Wow...

My personal financial calculation work like this only....

1, 2, 3, many, a lot....

Haha

But seriously, initially I did try to keep track the expenditure and income etc.. but after 1 to 2 yr > gave up.

Only end up looking at my bank statement at the end of the year.
If:
Black = good.
More black > better !!!

Now i am worried.. Dammit

Not disciplined to track expenses.. During end of year will compare last year. Haha

My turn...

Thomas J. Stanley's and William D. Danko's expected net worth formulas

Formula 1: Expected net worth = age x 0.1 x gross income.
Formula 2: Expected net worth = age x 0.112 x gross income.

Marotta Asset Management's expected net worth formulas

Formula 3: Expected net worth = (adult years / 240 + 0.1) x adult years x gross income; where "adult years" = age - 20.
Formula 4: Expected net worth = [(age / 166) - 0.15] x age x gross income.

F1 : Pass...
F2 : Pass...
F3 : Pass...
F4 : Pass...

+50% or more