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 How much is your net worth?, gauging your financial performance.

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casperity
post Sep 2 2011, 01:26 PM

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Hi all sifus,

Age: 28
Occupation: Bizman
Marital Status: Single with gf



Asset(s):
1 Condo RM 250k (Owe Bank 215k)
1 Semi-D RM 660k (Owe Bank RM 559k)
1 Shoplot RM 2.2mil (Owe Bank RM 2.0 mil)

Liability (ies):
1 Apartment RM 120k (Valuation RM 250k , Owe bank RM 100k)
1 Merz E Class RM 350k (Down RM 150k, now entering 2nd year)


Insurance:
RM 2.4k p.a

Investment:
No stock, no mutual funds in my life !

Savings account (Up-to-date)
RM 750 (Wahahahha !)

Monthly spending:
1. RM1,000 for petrol and toll to work
2. RM250 car maintenance
3. RM1,500 for food
4. RM1,000 for entertainment
5. RM1,000 Miscellaneous
6. RM 500-RM 1,000 to parent

Monthly Income : RM 10-30k


casperity
post Sep 2 2011, 02:25 PM

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QUOTE(wongmunkeong @ Sep 2 2011, 02:18 PM)
Nice details, although i'm no seafood, may i take a stab at this?
[attachmentid=2415348]
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The residential is under cont.
Shoplot receiving rental with -ve RM 1,500 / month tongue.gif

btw, what you stab on? I cannot get it.

You got a very geng excel program ler...wahaha

I got Milan one last time, but yours is more geng, can give comment some more.

Wahahha
casperity
post Sep 2 2011, 02:44 PM

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QUOTE(wongmunkeong @ Sep 2 2011, 02:33 PM)
Take a stab at analyzing your data, in my own point of view lar tongue.gif. Forum mar - share ideas / point of view. My apologies if i'm intruding yar.

Hm.. -ve rental (ie. rental pm < mortgage pm) of RM1,500? That knocks down your monthly cash flow, which the lowest to be about $3K+.
Hehheh - phew, scary leverage in my opinion. Thus, i stay a working lemming tongue.gif

Overall, looks good net worth for a 28 yr old. Just watch out on your D/E leverage which needs good cash flow to support in case of hiccups.
Just an opinion - U may want to stash / asset allocate some % of your assets to bonds / bond funds IF U don't pay yrself EPF.

Milan? who's that?  tongue.gif
Joking joking.
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Oic...I tot is sort of Rikimaru (Dota) skill..wahaha... Kidding also!

Thanks for your advise, I plan to give myself some EPF as it will help in my next loan in 2012, another shoplot !

I will fork up another RM 150k by the end of this year to restore my saving and emergency back up.

Just 2 cents to share, I have put a thick butter to all my mortgages / cars (1 year advance mortgage payment) to be auto instructed monthly. These advanced money is excluded in my calculation and I always treated them as " not my money".
With that, I can buy more props more confidently.
casperity
post Sep 2 2011, 02:48 PM

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QUOTE(jack2 @ Sep 2 2011, 02:44 PM)
Mind to share what business that can such high income a month?  rclxms.gif
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Hi,

I am doing IT solution company.

I have another company doing some trading as well.

For me after I have gone through some trail and success bizs, I keep these two biz.

I find that is not about what biz which can bring you the money, is about WHO do the biz.

Cheers !
casperity
post Sep 2 2011, 03:41 PM

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QUOTE(Sh@rty 5 @ Sep 2 2011, 03:33 PM)
imho . isnt the insuran of 2.4k a little insufficient? just in case anythng unwanted happen
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Hi,

My ultimate aims is NOT TO HAVE INSURANCE in coming years.

So I just put minimal portion for that.

I never view Insurance is any kind of investment or savings. As I gain no control on my $ by the time I put them in.
Similar to Mutual Funds.
casperity
post Sep 2 2011, 04:51 PM

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QUOTE(wongmunkeong @ Sep 2 2011, 03:49 PM)
You're right  - insurance is a no-win game, it's just coverage UNLESS you're looking to shield a sum from creditors for family to inherit

When U reach $0 insurance needed, in reality, U'd be "in-sourcing" the insurance, ie. self-insured biggrin.gif
My aim too heheh but for now, i still need DEATH (no, not life tongue.gif) insurance & Hospitalization insurance just in case cry.gif, to cover properties & self until all paid-up and i can more than afford to go zzz in a hospital (choi choi)  laugh.gif

As for Mutual funds... U may want to look at bond funds bro.
IMHO, you're on the right track for Asset Allocation - Equities : Properties : Fixed Income
You've got your businesses (Equities), U got your properties, now.. Fixed Income (EPF, Bonds, Money Market, FDs).
Just a thought
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mind sharing your net worth?
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