Sep 28 2010, 08:09 AM
QUOTE(cybermaster98 @ Jun 14 2010, 03:40 PM)
I think some ppl who have posted their net worth here arent telling the truth. Its silly to see someone who earns so high and yet believes in putting tonnes of money in FD. For what? Plus some have so much money sitting in FD so why bother taking a car loan? U get about 3.5% in FD and then take a loan and pay 3.5% to the bank. Does this make sense???
Some say they earn 500K per annum but then keep almost 300K in gov bonds and FD but only has 1 house as asset? Anybody who knows investment well enuf will know that u should invest in property especially in prime areas e.g Damansara, TTDI, Bangsar, etc. Plus you have 2 Japanese cars with an outstanding loan of 40K for the next 3 yrs. U earn 41,600 per month so u can easily pay off the loan with about 1.5 months salary and save a little on the interest rite? So why dont you? He has a 700K house whcih is fully paid up but he decides to keep a 40K 3 year loan active despite his RM41K/mth salary???
On top of that, he claims he pays 40K premium for 4 members of his family. A person earning 41K/mth can only afford to pay RM 833/mth/pax for insurance? Most insurances now have the investment tagged to it so the more premiums you pay the more its invested for you and yet this guy only pays RM833/mth/pax?? But ke keeps RM110K in FD with rubbish rates?
I think this is all bullshit. Common guys. If u wanna share then tell the truth la. Why need to boast and increase figures just to prove what? Ure only using a nick name here. Nobody knows you. So just tell the truth.
Anyway the following rough figures are mine. Nothing great but im working on it.
Age: 32
Job: Engineer
Married with no kids
Income: RM168,000 / annum
ASB: RM 255,000
EPF: RM121,000
Gold: RM 60,000
Cash in hand: RM22,000
Property (prime area) purchased at 475K in 2009 but worth 680K now (based on recent transactions)
15 year housing loan to finish in 14 years or earlier if i choose to.
Japanese car worth 45K now but loan paid off in full.
Currently paying insurance premium of RM 1100 / mth
You may be right that maybe some ppl are not telling the truth. Are you telling the truth?Some say they earn 500K per annum but then keep almost 300K in gov bonds and FD but only has 1 house as asset? Anybody who knows investment well enuf will know that u should invest in property especially in prime areas e.g Damansara, TTDI, Bangsar, etc. Plus you have 2 Japanese cars with an outstanding loan of 40K for the next 3 yrs. U earn 41,600 per month so u can easily pay off the loan with about 1.5 months salary and save a little on the interest rite? So why dont you? He has a 700K house whcih is fully paid up but he decides to keep a 40K 3 year loan active despite his RM41K/mth salary???
On top of that, he claims he pays 40K premium for 4 members of his family. A person earning 41K/mth can only afford to pay RM 833/mth/pax for insurance? Most insurances now have the investment tagged to it so the more premiums you pay the more its invested for you and yet this guy only pays RM833/mth/pax?? But ke keeps RM110K in FD with rubbish rates?
I think this is all bullshit. Common guys. If u wanna share then tell the truth la. Why need to boast and increase figures just to prove what? Ure only using a nick name here. Nobody knows you. So just tell the truth.
Anyway the following rough figures are mine. Nothing great but im working on it.
Age: 32
Job: Engineer
Married with no kids
Income: RM168,000 / annum
ASB: RM 255,000
EPF: RM121,000
Gold: RM 60,000
Cash in hand: RM22,000
Property (prime area) purchased at 475K in 2009 but worth 680K now (based on recent transactions)
15 year housing loan to finish in 14 years or earlier if i choose to.
Japanese car worth 45K now but loan paid off in full.
Currently paying insurance premium of RM 1100 / mth
Your annual income is RM168k PA but your EPF is only RM121k?
The only answer is that you have withdraw some for your house& investment. Can explain to tally the figure?
You keep only RM22k in your hand? Every month your salary (after EPF and Tax) should be about RM10k cash. That means every 1 month you have to withdraw/ transfer/park the money else where. You dont seem to be like that kind of person who will use up all the 10k (even for installments not to say expenses) so I m sure you are very dilligent in transferring your money.
With your income level, you seem to be driving quite a cheapskate car (no offence) but I am not sure is that the market value or the value you bought? I cant think of any japanese car at RM45k (new car value).
Some of ppl commented your property raised to 43% within a year. The only place I can guess is the Kinrara area (gut feelings).
Not even sure if Kinrara can do so well.
Pls dont be offended by my harsh words but I think you begin by accusing others not telling the truth and i feel that this is not respectful. in this forum, everyone try to share the real thing to learn from each other. now, i doubt u r telling the truth..... also i dont like the way you criticize the ways others manage your money. if i want to criticize u i also can say
"what???? 14k salary a month and driving 45k car? some one wife also got no car?" but i think it is not good to say so.
good luck rich man!
Quote
good luck very rich man.
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