QUOTE(jacboy @ Sep 10 2009, 07:07 PM)
I want to learn if my existing financial status and net worth is healty, lousy, etc.
IMHO, its highly commendable 
How much is your net worth?, gauging your financial performance.
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 Sep 11 2009, 01:32 AM
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#1
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Senior Member
3,318 posts Joined: Dec 2004 From: 1Malaysia   
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Sep 11 2009, 09:04 PM
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#2
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3,318 posts Joined: Dec 2004 From: 1Malaysia
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If Jacboy is an expat in a foreign coy earning in USD, euros or pounds, he could have easily saved rm100k p/a. O&G is another industry that pays well, some 24-25 yr olds can easily make 20k-30 p/m.
So lets not accuse when we dont know the whole truth. And just bcoz you dont know any yuppies who earns that much, it doesnt mean there isnt. So ppl, be mature n keep an open mind. Added on September 11, 2009, 9:06 pm QUOTE(cactus1 @ Sep 11 2009, 02:25 PM) what i learned is, the real rich people will never tell u how rich is him................................... U r right, but having 400k in the bank is hardly rich. Buy one cash car and house, u'll left with nothing.  This post has been edited by Pai: Sep 11 2009, 09:06 PM |
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Sep 13 2009, 03:46 PM
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#3
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QUOTE(yewkhuay @ Sep 13 2009, 12:08 PM) pls explain further on the debt tht ur fren is having, and by having a mil debt and able to pay back doesn't mean he has a good net worth, it takes one recession that hits ur fren to wipe out everything he has. IMO, if the guys can borrow 1mil to buy properties today, 1Mil net worth is only a matter of time. As long as one stays prudent in managing their reserve, that is........ |
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Sep 14 2009, 02:24 PM
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#4
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QUOTE(ehl @ Sep 14 2009, 12:07 PM) If the 1 million is borrowed for investment in property that generate net positive cashflow and safely paid by your tenant monthly. Precisely.You should realised that, every month you are getting nearer to be come a millionairs, not to mention capital gain at the end of the process. It doesnt take a genius to end up as millionaires in properties. As property investors, patience is a more important than the brain...... |
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Sep 16 2009, 03:45 PM
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#5
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3,318 posts Joined: Dec 2004 From: 1Malaysia
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QUOTE(pool @ Sep 16 2009, 01:54 PM) Guys - follow the thread starter - here is mine, just take look whether the allocation makes sense and what else can be done thanks pool, u've got significant earning power. I think the above doesnt tell us 2 things which is quite crucial, which are :Age: 40+ Occupation: Engineer Marital Status: married with 2 kids Income per year: 500K Asset(s): House - RM700k - all paid up Car (two Japanese car)- Market Value: RM 130k total Outstanding Loan RM 40k 3 years more Liability (ies): None Insurance: Life: RM40k (premium per year for family) Investment: Bond: RM15k FD: RM 110k Government bond/UT: RM145 Share - Msia: RM130k Share - US: RM400K Cash in hand RM90K EPF RM840K 1. how much can you save every month? 2. What kind of return u wanna get from your portfollio? But have to say I look your portfolio with utmost admiration especially when your car is less than 30% of your annual income. A lot of ppl would have easily gone for Beemer X6 etc with that kind of salary. Added on September 16, 2009, 3:47 pm QUOTE(lwb @ Sep 16 2009, 01:37 PM) it's nice to see a guy spotting this fallacy.. (that prices always go up) u right, the above statement is a falacy. The real statement should be :that prices always go up OVER long term when it comes to real estate This post has been edited by Pai: Sep 16 2009, 03:47 PM |
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Sep 19 2009, 01:12 AM
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#6
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3,318 posts Joined: Dec 2004 From: 1Malaysia
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QUOTE(Lawyer1 @ Sep 18 2009, 10:44 PM) This is a good thread. Thought I'd put mine up here too for comments,... OT a bit................... Age: Early-forties Occupation: Company/Firm Proprietor Marital Status: married with 2 kids Income per year: Don't know, hasn't counted for sometime. Properties :- 2 Shoplots 1 Condominium 1 House (for stay) Total : approx 2.54 Mil, all paid-up Vehicles :- 1 Benz 2 Japanese Total : 115000, all paid-up Liabilities :- Parents upkeep - RM 24,000 p.a. Insurance: Unsure, some items come with Insurance Policies built-in, eg Credit Cards No fixed policy Investments :- Local Gov't Bond : 542K Foreign Currency FD : 1.10 Mil at current exchange rates, set to go higher KWSP : 196K Foreign Structured Notes : 37K Foreign Bond : 77.3K Foreign Shares : 454K Cash in hand : unknown, too volatile, if needed money, just take from company account That's about it,.... Would appreciate comments - good and bad and neutral,.... Thank you.  boss, your 2 shoplots.....how much income does it make you per month if u dont mind sharing. Almost all lawyer I know is friggin rich, man I picked the wrong profession |
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Sep 19 2009, 08:31 PM
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#7
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3,318 posts Joined: Dec 2004 From: 1Malaysia
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QUOTE(Lawyer1 @ Sep 19 2009, 09:47 AM) Hi Pai,... not much, growing area and not in CBD, about 5.2K per month. I used half of one of them. Another 2 hypermarkets will be completed next year within 800m to each of them, thinking of increasing the rental then. Personally, I'd retire and do what I enjoy most if I had your portfillio today In the meantime, my tenants are great people, and well,... guessed I am not particular about the money, or not yet,... so I just leave them be. What do you think of my situation ? I see you have given some good perspectives every now and then. Thanks,.. Pai,... I dont think u need anything more, unless u foresee that your current portfollio wont be able to sustain your retirement lifestyle u crave for........ If growth is the objective, then buying another prime retail/shop lot might be a good idea..........  |
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