20 years ago when i bought a myvi, the boss' wife told me : Actually with your salary, you should have bought a Vios at least, i pity the Vios cos you didn't choose it.

I was thinking : I know what you think, you want me to bear higher debt so i need to continue working for you, i am not that stupid, haha.

-----------

My nett worth is between rm5-10mil. Cash in FD, EPF, Shares. 2 houses that left around 1% of loan, with 99% advanced payments. No car loan. No kids (my best decision in my life).

Liability : My wife. Supposed to have no wife too! (my biggest mistake in my life, but may be also my best decision... after marriage my financial luck keeps getting better and better, life totally changed in a few years. If you believe in fengshui / 命理, she is the type of woman that suppose to bring financial luck to me)

I think i replied you before on another thread if i remember correctly.

That is how i do it by utilising the flexi house loan. 2 reasons i cover the house loans till 99%-99.5% but i do not clear them off :
1. Touch wood If there is really any emergency things happen that i must make use of the money
2. If something happens to EPF structure that i feel not happy, i will clear the EPF second account's money by using the money to pay the house loans (so maximum money i leave in EPF would be around 700k+ only). If i clear the house loans now, i can't make use of this method.

Each month i just need to pay rm10-20 for the house interests.



This post has been edited by HolyCooler: Dec 20 2023, 11:30 PM

Agree. For your case and for those people who can use the money to make higher returns than the house loan's interest, this method is not suitable for them.

Just came across this post, to be honest, i used to think like that, but after involved in car accidents, i changed my mind now.

Car is not only a transport tool, but it is a life-saving tool too. Imagine accident happens and imagine the differences if you are in a Mercesdes/BMW/Volvo (newer cars are super keras nowadays) compare to a myvi/local cars/vios/city? It makes huge difference, really huge difference. Cheaper cars can be destroyed easily, and those luxury cars probably still in a situation that only suffer a minor/medium damages.

Btw, congrat to all the guys who built lots of networth!

This post has been edited by HolyCooler: Sep 2 2024, 01:01 PM

But it does matter what car you drive when you get hit by a drunker driver tho. The driver who banged my car, my car only suffering minor damages (not even reaching the internal pillar frame), but his car, the car head was totally destroyed / kemek / squeezed until the car head is like non-existent, and the driver suffering bad injury on his head full with blood. Had a friend's kembara hitting a merce, the kembara's front part also destroyed badly while the mercedes was like intacted. Hopefully proton cars nowadays are better after took over by the China company. My boss owns a 4 wheel drive that cost over a million (the car's inner body is surrounded by very big and solid pillars frame), i am pretty sure he can survive 95% of accident unless being banged badly by those super big size transformer.

You guys all got high networth, invest in a good car, protect yourself and your love ones

This post has been edited by HolyCooler: Sep 2 2024, 05:50 PM

Trust me, one would appreciated it *touch wood* if accident really happen, accident really means something unexpected. I was in those accidents 2 times (made me realised i too have chance to be in such situations), nothing can do except waiting for the destiny. The scariest outcome was not dead, but was become cacat / badly injured.

I used to think die then die la when i was young (i so despise those who scared of dying on road, when on the airplane, etc), but now i have more things to fulfil and have more love ones, i must live longer now to enjoy my life

i drive a merc. I bought merc/subaru for my love ones too, i not worry much when they are driving on the road.

Agreed. I used to anti luxury things. I used to buy purses that were around rm60-100+, these purses just couldn't last long and usually i need to buy a new one after a year or so. My wife bought me a purse that costed 2k (it was a surprise present, if i knew in advanced i would stop her, we didn't have much saving that time), it is almost 10 years now and the purse is still in good condition, this is what made me realised a few things, first thing is don't lock myself, i should open my eyes and try new things before i make judgement. Another thing is, some luxury items / more expensive items do provide much better values, not just totally a waste of money.

The recent ones i think are pretty solid too. When the accident happening, i thought it would be badly damaged, but instead it was just so minor damaged compare to the car that banged me. And when i did the emergency break (few cars banged together, the merc able to emergency break on time, too bad the car behind me failed), i still sat in the car steadily, and when the behind car banged on my car, i still sat in a steady position with not much impact.

This post has been edited by HolyCooler: Sep 5 2024, 03:35 PM

I think she made the right choice with the W223 (more elegant + high class feeling for an accountant + matured lazy) Panamera i think more suitable for guys

We can drive as carefully / defensively as we could be, but we were talking about other drivers / road conditions that causing accidents (And accident = something not predictable, it is not something can be avoided even if you are extremely careful / defensive). If a car on the opposite road lost control, a better car will have better survival rate, that is my logic and my life's experience. Anyway, it is up to you, your life your choice.

As for "drove that armour car down a 100m cliff and see can survive or not", i had a colleague his brother had that experience and survived, but i am not sure what car he drove though.

This post has been edited by HolyCooler: Oct 14 2024, 11:34 AM

I think you misunderstood the data?

The data is saying, example, if you are a Singaporean and if you have USD 5.227mil, you are categorised as one of the members of Top 1% club in the world. It is not saying Singapore has 1% of population has USD 5.227mil.

Exactly, based on country, i used Singapore that 5.22mil as an example for Singaporean to be in that Global 1%.

I was trying to explaining to him the meaning of the 1%, if Malaysia has 30milions population, doesn't mean 1% of this population is in the global 1% club.

Because your appetite is getting bigger when u r getting more money

When i had 300k cash, i felt like i was quite "rich" compare to others. When i had 1mil, i felt like i have damn a lot of money. When i reaching 3mil i started felt not enough, i need at least 4mil, when reaching 4mil i felt 1 more mil extra would be very nice, when reaching 5mil, i again thinking if save another 1 more mil baru safer, and so on... And from Mercedes 300k, i started looking for 500k range mercedes, then i also check Porsche Cayenne with 600-700k range, then i saw Lamborghini 4 wheel drives, then i tried to check if i could afford it or not... i felt my money is getting smaller and smaller I think a lot of people non-stop chasing for money is due to their appetite is getting bigger, they tasted luxury life and want more money to maintain such life. You are feeling 2mil is poor, some people has 20mil also feeling poor because they are surrounded by people having 200mil.

Difference for each person. I am not sure how you define happy.

My Ukraine friend saved rm 200k, he had 4 gf, 4 apartments, he lived happily and he thought rm 1mil was damn a lot.

My ex-colleague felt damn happy when he got 1 month bonus (few K). Now he told me give him a few hundred K as gift he also no feeling, he is at another level now due to a chance.

Some friends told me if they have 100k, they considered it as "fatt jor datt".

Everyone has different requirements, the argument of 1mil, 2mil, 4mil, or 100mil only enough or only will feel happy, all depends on individual.

Exactly same as mine.

I constantly remind myself that money can never truly be sufficient <--- I also keep reminding myself do not fall into the never ending loop to chase for more money and should stick to my plan to retire. The case that from seeing Merc, then Porches, then Lamborghini, i knew something not right about me already and i need to do changes.

If there were no tomorrow, would I have any regrets? <--- i asked myself about this too a few time. The answer is, i would have many regrets

I know someone monthly's fixed deposit return already can hit rm 200k-300k range, yet he still feel very pressure and want more...

This post has been edited by HolyCooler: Oct 19 2024, 01:08 AM

I actually have a lot of time. Just i have too many hobbies. I have been watching the Singapore Capcom Street Fighter cup for a few hours already today. Gamer's life is the best, i am so glad that i was playing video game since i was 5yo, i never faced the issue that "i will die faster if i stop my work" or "i have nothing to do if i stop my work".

This post has been edited by HolyCooler: Oct 20 2024, 05:46 PM

My next game is monster hunter wilds The game is having beta testing now on PS5

I am wondering what is the income for T15? Now they are talking about T15 won't get petrol subsidy and hospital subsidy, i think this is damn stupid, i paid a lot of tax yearly and i can't get the same benefits as others? I am feeling i keep kena robbing. I wonder if i retire, no more monthly salary, would i become B40? If so that is the thing i am going to do if they keep robbing me (I don't mind to take out money to help people, this is something i am doing very often, but taking away those benefits from me made me feel like i kena robbed and feel like i am not being treated equally as a Malaysian)

For my case, It is not the question if i can afford it or not. I am not happy as someone who contributing more to the country but being excluded from getting the same benefits as other Malaysians. I paid lots of efforts to make my life better, and i don't mind to help people who need helps (i sponsoring my Chinese, Malay, and Indian friends who need helps a lot of money which i never expected them to give me back), but i don't like it when i am not being treated equally when it comes to petrol / hospital subsidy.

I accepted the tax system too. But now they are getting more from us by removing us from the subsidy system, making me have a feeling that i kena robbed.

Willingly to donate rm1000 to people who need help monthly - I am fine and feel happy, and i can see the money being used in the right way
Make a system to make me pay extra rm 100 monthly - i am not Ok, why am i being treated unequally as a Malaysian. And I don't even know if the money will be used correctly or not

Anyway, that was just my rant and my stance on this policy. I know nothing i can do to change this.

This post has been edited by HolyCooler: Oct 30 2024, 12:52 PM

This reminded me when i was in hospital a few times, i always told myself i must do this and that and must appreciate this and that after i recovered. But once i became healthier then i was back to the rat race again.

I give myself maximum 1 more year to accumulate more wealth, this extra wealth will be reserved for helping my friends, future-ex-colleagues(staffs under me that had been following me for more than 15 years), etc.

We only live once, i want to enjoy my life to the fullness before i become dust. Accident is something unexpected, i am really scared i haven't done the things i love and then gone all of a sudden.

I am mid 40. Those moments happened a few times, most recent one was this year.

when things are ok, we forget our promises (hence, never lend desperate people money as you will never see it come back). <--- Exactly. Last year and this year lend 2 friends a few K, one of them promised to pay back 1k every month, until now 1+ year is passed, only paid back 2k, and the rest of the money? He already pretending like nothing happened. Another friend is worst, April borrowed the money and said will pay back on May (i knew it was a fake promise), and last week i checked his situation, obviously he never plan to give back any money now, so called pay back on May, haha. Last time also lend a few friends, either blocked me (it was QQ, MSN, hotmail, Line, etc) or avoiding me, eventually couldn't find them and no more friends. When they were asking for money, they looked very sincerely, when they got the money, treated me like their most unwanted to see person

Yeah, 2025 should be my last year of working.