How much is your net worth?, gauging your financial performance.
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 Oct 7 2010, 02:44 PM
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#1
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QUOTE(soul2soul @ Oct 7 2010, 10:21 AM) wow rich parents. Nice. To me, I apologised first for saying : these are the type of people who spoilt their children. To each, his own, and his own ways of becoming a parent. I just have sympathy for the children, it's not their (the children's) fault, but the parents'.Added on October 7, 2010, 9:23 amOMG malaysians are rich.  |
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Oct 7 2010, 02:55 PM
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#2
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QUOTE(newbie99 @ Oct 7 2010, 12:32 PM) Wow! Your parents have been very generous with you. Hope you treat them well. Your monthly allowance is the same as my starting pay! And 200k in unit trust! Goodness, guess the saying 'money does not come easy' does not apply to u.. No, disagree with the final sentence. I think poster here helps out by harvesting the birds' nests once a month. That is the contribution and the responsibility that must go hand-in-hand with the allowance. And that is good training there.Yes, the parents are quite well-to-do, but they still maintained a balance by that imposed responsibility. I will do the same for my children. I will teach them the finer arts of maintaining the Passive Income Sources, and then the basic principles of Asset Allocation and Diversification. And then they must practise what they learnt, in the meantime, I will deposit a regular source of Passive Income into their babk accounts, be it a dividend or rental, or bond coupon, or Term Deposit Interest. |
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Oct 7 2010, 03:12 PM
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#3
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QUOTE(amalthea @ Oct 7 2010, 01:34 PM) mine is confidential A good start to his career, especially that 200K that he managed to save-up in his PNB Funds.but you can try my friend's one since i know how much he earns Name: Mr Lim XXX XXXX Age: 28 years old Occupation: engineer at intel penang Marital Status: single (got gf but not supporting her) Assets: None Car, Honda Civic 1997 (paid) Study Loan: Paid House Loan: No House how to have loan? Car Loan: 2nd hand car just pay cash no loan Other Loans: None Insurance: Life: RM4k per year Rental: RM990 per month Investments: ASM/ASW2020/AS1M: RM200K(combined) I would think he manages his money very well. I think he would make a good CFA, why not ask him to study a CFA Course at the side ? In future, he will be able to open a funds management company if he is able to apply for a licence from The Bank Negara Malaysia. Malaysia needs more of such people to provide financial education to the public, so that people don't easily fall into investment scams and lose their hard-earned money. |
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Oct 7 2010, 06:37 PM
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#4
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QUOTE(fifa2009 @ Oct 7 2010, 05:26 PM) Why you mean by that ? My parents give me money so what.. Maybe you parents didnt did that to you thats why i guess.. See the hot temper flushing out, and the proudness in the character.My parents give me money so what.. and yet i still complete my Degree in 1st Class Hons and i didnt think i am spoilt. Even some big company offer me job to work with them.. My parents are support and proud of what i achieve. You talking only too much.. Big companies offering but mentioned in first post that he/she is not willing to work. Another sign of the character. Finally, a judgemental attitude, by saying that my parents did not give me money. However, a silver lining there, a 1st Class honour Degree - but will not how was it achieved until we go into the details. I have said earlier that I do not blame you, and yes, to each his or her own. Though I resent your words, but I remind myself that some will fall, and humans are never born equal. Good luck in the working world, my young friend. The working world is never what you think it is, your big words and as you said it : talking too much, will haunt you when the going gets tough. However, you might get it easier if you joined your father's company. Mark my words. End of comments on you ! |
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Oct 7 2010, 06:52 PM
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#5
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QUOTE(edyek @ Oct 7 2010, 07:46 PM) This I concurred. I decide not to join my fathers' company in Sarawak when I graduate, and that why I develop my business in Sabah. With all those years of blood and tears, it ain't easy and certainly not for everyone I would say. During those difficult times, how I wish I would have joined him and expand his business (Start with RM 100 you can easily earn RM 100, but start with RM 0 to earn RM 100 it is not that easy). And lucky me that I've being persistent in my decision to develop my own business. Thank you, Edyek. You always have the very right to say that you are a self-made man. But, it's certainly harder to do it this way. I admire your courage, persistence and finally your method of achieving success. |
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Oct 8 2010, 12:03 PM
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#6
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QUOTE(dreamer101 @ Oct 7 2010, 08:02 PM) fifa2009, Dreamer,<<yet i still complete my Degree in 1st Class Hons >> So what?? As compare to what?? Most people in my generation worked 20 to 40 hours per week while doing their degree. And, they got 1st class honor too. As per my generation's standard, I do not consider any full time student that do not work and pay their way through college as working hard. Dreamer Added on October 7, 2010, 7:08 pm Hansel, I think you have just insulted Edyek. I do not believe that he would say that he is a self-made man. Behind every successful person is a lot of helps along the way by many people. Nobody is self made. To say that is to be UNGRATEFUL to all those helps that a person received along the way. In this case, Edyek got his start with KEY SUPPORT from his mentor at the RIGHT time. Dreamer Your explanation delves into the level of "being self-made" here, which I think is not necessary. Obviously, self-made does not mean that nobody helped him at all, no mentor, no friends and no customers who supported him, certainly there are such parties around and yes, certainly we must maintain our appreciation for such parties. I would use the term : "self-made" here in relation with non-working with parents, and rising by other means other than via parents' company. But let's not debate this linguistic understanding too much. Finally, I maintain that my such good thoughts for Edyek as being correct, instead of my words being as insults to him. Anyway, on something more constructive, I think I would like some thoughts from yourself too about those two mutual funds that you are heavily into. I am expressing the same request for some opinions from your goodself too on those two funds. Maybe I should include them into my portfolio too. How are thier coupon/dividend payouts please ? This post has been edited by Hansel: Oct 8 2010, 12:06 PM |
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Oct 8 2010, 02:56 PM
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#7
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QUOTE(gark @ Oct 8 2010, 01:34 PM) His portfolio if from vanguard, there is only two ways to get in. Either you have an account in the US (which I think Dreamer have), or you willing to invest in their Dublin domiciled offshore fund, with minimum US 100,000 investment. Gark, thank you. yes, I am aware of Vanguard, about the portfolios they hold. In fact, I am with Fidelity, which also has a fund-house facility. By the way those are not unit trust, they are low cost index funds, in the case of Dreamers, they are mixed index funds. No problem, if it is worth it, I can find a way to invest. Just would like to know, does it give out yield, ie regular dividend payouts ? Hoping you can teach/enlighten me a bit. |
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May 11 2011, 03:10 PM
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#8
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QUOTE(Currylaksa @ May 11 2011, 03:54 PM) We got invest one... but then the stock market looks very high and Malaysia gomen looks like getting worse. Then you really need to work on enhancing your knowledge towards investments, and finding more and more safe instruments that you can invest in. Having RM122K in an FD is really a great loss of opportunity.Kasi put in FD first lo  |
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Sep 5 2011, 10:13 AM
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#9
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QUOTE(prophetjul @ Sep 5 2011, 10:06 AM) Thanks for your reply. Are you satisfied with the country you are currently in ? For education, thats the plan. i dont like local education. But thats another discussion. 120k is present value..........discounting future inflation 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 ! |
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Sep 5 2011, 10:21 AM
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#10
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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. |
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Sep 5 2011, 10:33 AM
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#11
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QUOTE(wongmunkeong @ Sep 5 2011, 11:23 AM) On this idea (migration then education), just to share what i read over the weekend on Australia (AU)migration: WMK, good feedback there.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  )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.  |
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Sep 5 2011, 10:44 AM
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#12
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QUOTE(prophetjul @ Sep 5 2011, 11:26 AM) i know about this kids overseas thingy..........i was one........ Okay, and agreed with your first paragraph. 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 ................. You are not satisfied with Msia, then do something about it. Go somewhere else. Why stay here and whine and cry for a change in Gov't (if you think your dissatisfaction is because of the system) ? I'm sorry for saying this. Don't be an investor migrant, that is not the only way. IN many developed countries today, if you wish to be an investor migrant, they will check you out too to see where your funds came from. There are laws, Anti-Money-Laundering Laws, etc, etc... it is not easy too, and it is the right thing for that gov't to do - satisfied !!! To make a long story short - it's just this : are you able to keep earning your income without being physically in Msia ? If your answer to that question is a big YES, then there are many other legal and proper ways to migrate, and to contribute to another country. |
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Sep 5 2011, 11:01 AM
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#13
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QUOTE(prophetjul @ Sep 5 2011, 11:45 AM) Canadas too far, too cold............. but the employment is VERY good, especially in the tundra areas. Okay, if can live with it... General worker gets paid CAD100k per year..........................but VERY Cold........................... Added on September 5, 2011, 10:50 am i am satisfied but i can live with it...........when i am 58 years old, they can do what they like. BUT i want to let me children have a choice............... Anti money my backside..sorry.....when they wanna investments, they close both eyes.......thats including aus. i know........i have lotsa corrupted friends in aus.......  i am an employed stiff like wong............cant have any other income............. On AUS, perhaps you are quoting from the Provincial programs, but on a personal experience, I have details of applicants who are not able to justify their huge hoards of cash for the Federal programs, and these applicants are put on hold until they are able to explain. That goes for 'suspected' corrupted officials from China too. Perhaps you do not know enough of your friends' details - how corrupted are they ? Slightly corrupted ? How bad are they ? Anyway, there is always the 80/20 rule - there are surely some slips here and there, it's okay, so long as the 80% abides, it's satisfactory with me. If under employment, then you need to be in Msia physically - okay ! Then your plans are intact. |
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Sep 5 2011, 11:05 AM
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#14
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QUOTE(wongmunkeong @ Sep 5 2011, 11:55 AM) Yup yup - frying pan & fire thing + other options (countries & LEGAL methods) Yes - that is amazing. 30% return average for the last 10 years, that would be 300% return gained on the initial investment.As all well intending parents, i'm just doing all that i can to provide, protect and grow my child properly. Heheh - i'm not sure i'm a "good man" or not when it comes to children. I'll reserve judgement and let my child decide after she's experienced enough In all honesty - i really dont care whether my girl thinks highly/lowly of me, as long as she lives a good life (enough health + assets + good relationships)  That is my end-game target for that part of my life. Added on September 5, 2011, 10:57 am Holy crap bro - 30%pa average returns on "Alternatives" last 10 years?!!  U gotta share yr methodologies and approach + of course what alternatives  |
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Sep 5 2011, 11:36 AM
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#15
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Yes. Of course, Gold. Thank you, and congratulations on a good choice.
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Oct 3 2011, 01:50 PM
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#16
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Yes, start with ASB.
I'm impressed with the younger generation today - they know how to start early. |
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Oct 12 2011, 05:24 PM
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#17
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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 ? |
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Oct 14 2011, 10:20 AM
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#18
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QUOTE(jphlau @ Oct 14 2011, 10:11 AM) sorry, i do not shop in bukit bintang since im not from west malaysia. Yeah,.. I have been thinking along the same line too, if we live and work and survive in Malaysia, this is what we will be doing. and when GST starts to get implemented, then the effect will be doubled. Btw, if we live in malaysia, we are enriching the cronies directly or indirectly. petrol, sugar, electricity, water, cooking oil, cars and etc...... they have cover everything Hence, if we live outside, we will paying consumption taxes for a better cause (again of course, depends on the country). Added on October 14, 2011, 10:26 am QUOTE(Oldskolboyz @ Oct 13 2011, 12:04 PM) Age: 38 You have 36m in FD ? Is it normal FD, or structured deposits, or Private Banking instruments ?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 Just wondering on this part. This post has been edited by Hansel: Oct 14 2011, 10:26 AM |
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Oct 14 2011, 01:10 PM
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#19
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QUOTE(Oldskolboyz @ Oct 14 2011, 12:24 PM) This is the most idiot one, just simply point finger to others.... my business nothing to do with kronies or politician, I supply to Hong Kong, Singapore, China & Middle East.. Not even once I got chance supply to Petronas cause they got Vendor Development Program (VDP) holder. Even though I have VDP contract for Pump & Valve but still in R&D (since Sept' 08, spend USD2.5m). My self not even think 2nd stage for API & Lloyd boards testing at this moment... Mechanical seal size 3" price USD62,500 each... USD62,500 x <1200 unit p.a (max) = USD75m @ RM3.00 = RM225m (profit 40%) I would advise if one has Millions of RM in FD, it would be better that the FD depositor picks up more about financial knowledge, and continues to make more money with money. No, there is nothing wrong about putting RM100m in FD, and no, there is no necessity to inform on age against amount of money in FD.I can call U an Idiot cause can't think Business Vs SBLC & LC.. just for Ur info SBLC/LC always used for overseas trading. Especially SBLC, Issuer banker must be from overseas bank. Local trading, people always ask for credit term...... 30 / 45 / 60 days Another bad experience I got, lost 2 unit Apartment & a unit Terrace house in 2007 to "Along".. Who has deal with "Along" before, they know how scared they are... Added on October 14, 2011, 11:28 am Normal FD... just for Ur info... RM36m just a little, got a lot people place FD >RM60m.. even younger than me got RM100m in FD... Added on October 14, 2011, 12:19 pm Bank paper mean your buyer bank paper like Standby Letter of Credit (SBLC), Letter of Credit (LC), Documentary Credit & etc.. Let say U have contract supply Coal (just example) to China with payment trough LC (per shipment) but U have limited capital, RM500k... The best U can do ask Ur buyer issue SBLC for the whole year shipping as collateral, let say USD80m (coal cost USD55m).. After that place your SBLC at your banker for Over Draft Facility but don't ask to much cause interest will charges (std rate BLR + 1.5%).. How much to request? 1) Calculate the whole year Mgmt Cost.. Let say RM1.5m 2) Coal cost for starting till U get 1st Claim, which U can rooling it back. Depends on Ur LC term & condition (std >15 days after delivery).. Let say USD10m @ Rm3.00. Than U just need OD around = RM31.5m, interest will be charge RM2.5515m (8.1% = 6.6% + 1.5%)... If took OD at whole Coal cost, USD55m @ Rm3.00 = RM165m.. interest will be charge RM13.365m... U can see the diff was huge RM2.5515m vs RM13.365m = >RM10m.... This is what I mean using "Bank Paper to get Bank Money to make more Money".... Never use your Capital to make money cause it was limited... By the way,... amount of money one has is relative, it is not meant to be compared. |
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Oct 14 2011, 01:51 PM
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#20
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QUOTE(Sky_Q @ Oct 14 2011, 02:15 PM) wow...very interesting..i'm from accounts/audit background but still dont quite understand how your theories apply..basically, LC is used to guarantee the supplier to receive money in time and at the correct amount... i'm not sure about SLBC but by referring to this link It's SBLC, not SLBC. It's Standby Letter-of-Credit, meaning a pre-arranged LC for a period of time (depending on the terms and conditions of this SBLC) catering to different consignments reaching the destination port-of-entry.http://www.eur-export.be/anglais/apptheo/f...risnp/lcsba.htm i still dont get what u trying to say.mind to jiao jiao yi xia noob accountant mah..guess it would be good thing to understand and learn if trying to open business or for the sake of gaining more knowledge..mind to disclose ur highest education?i bliv up to diploma only?ur portfolio are indeed very impressive... Added on October 14, 2011, 1:17 pmoh ya...u can pm me if its not convenient to disclose so much....arent u worried ur business strategy is shared openly here??Thanks!! Basically, if you are doing your own business, you will need to know the above arrangement if you are exporting to a foreign country, the value of the shipment is high enough to justify this 'safety' here, and the profit is good enough to pay the total bank admin and interest charges that will be incurred. To work around this arrangement, I set-up an overseas subsidiary with a fully-functioning office, and ensure my office there is able to credit check the customer, and ensure the customer pays up. Of course, there will be costs to maintain that office too, but that office also acts as a profit-generating entity (not only a cost-centre), taking care of the customers there and looking for more customers in that country/city. Secondly, the office will serve some tax-advantaged initiatives, hence, enabling me to park my money (the payment collected) in a foreign bank outside of the country. I do not bring the money back to Malaysia anymore, perhaps to Singapore, which is becoming a tax haven, but definitely NOT to this place. Why do you say he is educated up to Diploma level only ? This post has been edited by Hansel: Oct 14 2011, 01:55 PM |
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