TS berape gaji approx? @ 28

WTF 

This post is 12 years ago... who the park digg this topic out?

Age: 46
Occupation: Data expert
Marital Status: Single
Income: RM30k+

Assets:
1) Stocks - RM220K
2) StashAway: None
3) EPF: RM1.1M
4) Cash/Savings: RM500K
5) Cryto: RM300K
6) Semi D - 2M, own stay Paid
7) Condo - 900K, rent out 3k (loan 680k)
8) Condo - 1.1M, rent out 4.5K (loan 550k)
9) Shop - 1.5M, rent out 5k (loan 700k)
10) Cayenne  - RM500K+ (2019) paid

Liabilities:
1) Housing loan - 1.9M
2) Two dogs - rm500 monthly

Total Net worth:
About 6M

Want to songlap more money and grow networth to 10M and retire around 51 or 52

Age: Family of 4, 1 working adult. 2 child in secondary school
Active Income: RM30k+

Assets:
Stocks - RM3.2m
EPF - RM1.4m
Cash/Equivalent - RM650k
Property - RM6m
ASN - RM1.2m
Toys, collectibles and other assets - 200k

Liabilities:
Loans - RM2.1m

Other income:
Rental - 12k
ASN - 4k
EPF - 6-7k (div only but exclude employer contribution)
Div - 4k (only some equities are exposed to dividend stocks)

Expenses:
Property, tax and general living exp - 23k

Total Net worth: 10.5m
Is this profile good enough for retirement assuming adult at mid 40s?

are there any business men or entrepreneur that list out their net worth yet ? asking cause curious how the wealth/net worth is like

Yeah still working but not so hardworking like before. The spouse who is also a high performer stopped work though.

Good to know u will continue to work, but if u dont earn 2k per day will u still work? 
Definitely bff and childhood friend, if not wont share such details lol.
Dont know but have always been high, and i think self contribute for many years helped too

this makes sense.
I don't make a lot and don't share to ANYONE how much I make except very close family members. People that would be aware of my income are bank officers, tax consultancy firm, accountant, lawyers involved in loan applications. That's pretty much it.

I can't imagine having millions and disclosing it to close friends.

how come disclose until so detailed?
another blow water like /k?

a lot of that these days.

Ok true story.

My friends tend to know me as someone who is financially savvy and trustworthy. Why this person disclosed so much was because they wanted me to be the executor for their assets upon demise. And yes the amount is the family assets.

i apologise for causing some unhappiness here and will not post anymore of these stuff moving fwd.  :thumbsup:

Yup u r right, i agree with u. but there are things call double jeopady, backup executors and underage beneficiaries. 
...

In Malaysia, you just need RM2.2m in wealth to join top ‘one-percenter’ club unlike Singapore’s RM16.1m

Still living like im a uni student
...

i have a 5 mil home... you don't have to believe that 'I' have it... but 5 mil homes exist... SOMEBODY has it...

one can draw inspirations and motivations from ppl sharing their life story... no harm no foul... 

Ok la. I guess he must be saving 3k saving every mth from 22yrs to 28yrs

6 x 12 x rm3k = 216k plus interest.

So 3k saving possible? And this story is 12 yrs ago story. Unless he got fama impossible if u start from zero. Most of us start from zero here. Ask ur fren with fd how he got that money? 5 yrs working? U guys must b getting k/ salary.

Very doable...

Me: Full scholarship (SG) incl living expenses (hostel included, survived on 300+sgd a month, difficult even then but possible as a cheapskate student who would even save sgd 1-2 by walking up to 1hr) graduated just shy of 10 years ago. Throughout studies I did lots of odd student jobs there (at that time 8-15 SGD an hour depending on type of job) my aim was to save at least 150SGD a week, also did freelance jobs in my field especially in the final two years of study with permission from uni. So at the end of studies had 40k+ sgd cash, as well as some equipment for my job, that was my start in life.

*Before anyone says that this is not realistic if they did not also get the opportunity to study in SG, I have young colleagues/acquaintances who studied locally and they also managed to save through their study years, if not quite the same sum as me due to currency. It just depends whether you want to spend your free time partying/mamak/sleeping or doing some easy odd jobs like manning a booth, event crew, promoter which still gives you enough time to study on the side. 

After grad, back to being based in MY, with short stints overseas. Apart from covid years, able to get low 5 figure incomes (my CV was already not considered new in my field due to my experience working during studying, also helped with very good recommendations from my bosses and uni profs which I will be forever grateful for.), spent on buying a new entry level local car & its petrol and maintenance (which I still drive today), 2k+/- spending a month, mainly food, insurance and contribution to family so able to save 1xk+ a month (since covid, my family has fallen on tough times, contribution to them is now nearer to 7-9k thus unable to save much anymore). Invested in a couple of properties with loans, averaged about one every two years: so currently owning 5 including my family residence which I had to take over to bail out my parents. The investment properties were generally alright investments, not great, before covid had some net cash, now just about breaking even. I guess I was too late to the property game. Had better returns in stocks and UTs but unfortunately did not allocate much to them.

Now my main focus is on trying to stabilize my family's situation and rebuild some lost connections and opportunities after covid, compared to 2020-2022, grateful to be able not to pay expenses from drawing from savings at this point.

This depends lor. If salary peanut RM3k, it's impossible to save anything, especially if you have a family. If Salary RM20k still complains cannot save, then memang need bitch slap.

Yes. My EPF alone if it keeps up will land me in the T1 level. So the temptation to "YOLO" my income is high at times.

Sorry, I've been away from Malaysia too long - what's T1 level anyway?

I've shown this before but I will remove it because people tend to take it the wrong way and it rubs on some people.

So this is in good faith and I hope this is the right arena.

This is my current "savings" via EPF. On this rate, even if I don't get a single cent if increment, by the time I choose to retire, I am looking at double digit in millions.

Not comparable to some of the folks here, but for a simple retirement life it's more than sufficient.

My T1 definition is no reduction in what I currently enjoy lifestyle wise and spending wise. I think I used to want a lot more stuff, but when you read the messages by people who are really rich or books like Psychology of Money, it sets you up in the right mindset of exploring and enjoying what you cherish. So my T1 goal is I get to do that without any worries about money at all.
...

https://www.jobstreet.com.my/career-advice/...-is-b40-m40-t20
According to this. T1's monthly household income is MYR12.6k gross.

Got some survey before.

https://www.malaymail.com/news/malaysia/202...es-rm161m/71679

T1 is roughly around USD485k, so maybe 2.2mil? That gets you pretty far in MY to be honest.

I a bit malas to rebut those arguments la. 2.2mil is T1, means 99% of the country is living and retiring with less than that and most is doing just fine with it.

That's why I always love this story by Morgan Housel.
After a level, money is only not enough because our expectations exceeds our mean. 2.2mil means even if it does not generate a single cent more, one can afford to spend 110k a year for 20 years. Means it's 10k a month.

You telling me you can't live of 10k a month? Then how the 90% of the country survive? How 90% of the world survive?

If can't afford to live a 20k lifestyle, just adjust to a 10k lifestyle lo. One doesn't need much to have enough, but want will never have enough if he always wants more.