Wish to post an update here after nearly 2 years of toiling. Hope to achieve what some veterans here have; millions in assets and dividend income but seems like still long way to go.

Age: 30
Occupation: Changed to sales recently
Income: 6.2k basic
Side income: 1k per month
Dividend income : 300 per month
Marital Status: Single

Current Asset
Cash in KDI: 52k
Other cash: 10k
International Stock: 103k

Non-Current Asset
EPF: 97k

Current Liabilities
Ptptn Loan: 42k left  (330 per month)
Mortgage (joint with parent) : 380k left (just started) (1825 per month; up due to OPR naik)
Car loan: Proton (RM500 per month, 8 years left)

Monthly expenditure: 900 for food and entertainment, 200 for all bills, 180 for insurance.

Looking back, cash savings didn't grow much. Spent part of it on renovation and added new car loan. How to get the first million?

Hi fuzzy, what would you term as enough for a rainy day?

Hi fuzzy, yeah ... was busy starting the move to Australia, where I now spend up to 6 months of a year, and the rest back in Singapore. I actually came back in to update the conclusion to a question I asked the forum nearly 3 years ago, on the choice of cars I should get in Sydney, if you remember.

Anyway, much on your planning. It's super solid and a lot of forumers would do well to try to emulate this if they can. Obviously, not everyone would be able to, but your basis is, in my opinion, one that works well and gives you a certain peace of mind to (and a different mindset) in your approach to work & employment!

Good to see you again, bro!

thinking back...... when i just graduated and started to work....
with a miniscule rm1.6k basic pay per month. i could still save rm1k per month by strong self control.
as time goes by, and when my basic pay hits 5 digits per month, i constantly struggled to even save 30% of it.....
does most of you have the same "problem"?
lol.....

You don’t say bro. But the quantum you save (not the %) still ends up being bigger now than compared with before. Except you also get to enjoy life the way it’s meant to be enjoyed while you’re at it.

curious... whats your definition and amount for T1 level? is it based on income per month?

I've not included your screenshot in there, in respect & in preparation for your later deletion - but thank you for sharing. I believe no one here in this serious section of the forum should be rubbed the wrong way. I think it's an inspiration and done in the spirit of sharing.

This article's T1 is actually T10.... ie top 10%...

that's why I asked the earlier question.... cos gov never really defined properly all the Ts...
T20, T19... T10,T09... T02, T01.

concur... That's why I find it hard to believe casual statements like oh having 2 million is not enough to retire.

T01 (i use this instead to avoid doubt vs T10 or T1) at 2.2 million ringgit assets, somehow maps to around 30K rm per month income (the DOSM data of T01 for household income divided by 2).

if just use 6% return on 2.2 million, that is like 11K rm per month.

At a party given by a billionaire on Shelter Island, Kurt Vonnegut informs his pal, Joseph Heller, that their host, a hedge fund manager, had made more money in a single day than Heller had earned from his wildly popular novel Catch-22 over its whole history.

Heller responds,“Yes, but I have something he will never have — ENOUGH.”

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.

[Edit to remove pic as promised]

Congrats, can share revised picture of your epf projection?

Congrats. Missed your earlier epf projection

I also missed it, but congrats.
Just out of curiousity, the double digit million as in the redraw rate or the savings? I'm sure there are some who save more than enough to retire...in fact some can retire comfortably just redrawing from the EPF annually. It's just political noise trying to paint as though all Malaysians cannot afford to retire.

We have no children by choice, so we don’t bleed from that point of view.

Bro, I find this issue of children very emotive and potentially extremely divisive. We made that decision because neither of us felt, given our nature and dedication to our respective professions, it was fair to our future hypothetical children that we would be at best part time parents and at worst, absent ones with the kids speaking better Tagalog and Bahasa Indonesia than English or Mandarin/Cantonese.

It’s not that we don’t love children but we didn’t want kids that we couldn’t be the best version of parents that they deserved.

Different people will obviously have different opinions but we don’t miss what we never had.

Just sharing my portfolio

Age:25
Salary: 67k + allowance 12k + incentive/bonus 41k

Asset
Cash: 3k
FD: 30.5k
ETF: 117k
ASM: 22k
Total liquid asset: 172k

EPF: 32k
PRS: 2.5k
Total asset with epf: 207k

Liabilities
Car loan: 42k left
Ptptn: 26k left

I know I'm doing slightly above average, but seeing many here business owner with millions , it really makes me think business is the only way to wealth. Drawing salary and invest in etf is way too slow.

Did one of the posts about a 25/26 yo guy having some 6.5 mil btc/crypto and some million dollar house. And call brand owner get deleted?

I'm beginning to think some posts here are fictional. And I enjoy reading only non fictional posts. Appreciate the 99% who post real stories.

It's a real story. but I'll leave it up in the air for anyone who doubted it.
Im the dude. Wouldn't it be better for me to park the 2M funds inside the Flexi account instead of paying the loan up? I can always use the 2M funds for any emergency if I need to. 
Not quite sure why nobody believe my story. Been a business owner ever since I was 22. I'll gladly take it as a compliment 

Wait hold on, wouldn’t parking the 2M funds in the flexi loan account already feels like I paid off the house? I genuinely feels the same feeling as paying off the house + the added benefit of withdrawing excess cash if I ever need to for emergency. Obviously I wouldn’t ever withdraw unless some shit happened that suddenly all my investment down to zero

Or am I missing something? It’s my first house purchase so I’ll gladly take any pointers.

This thread suddenly derailed into stocks vs. properties (tho still an interesting read)
Let me try to bring it back on track and also leave a footprint here while at it since I haven't posted this in forums before (usually just updates on my blog)

Came from a hardcore B40 family and frankly speaking, I got friggin' lucky and never would've thought that these were possible if you asked me about this 10-15 years ago. I only have my mom to thank - her insistence to send me to uni despite our financials (and I wasn't even grateful or helping her out back then) and she can now harvest her fruits (me)

Age: 32, Female
Occupation: IT kuli
Marital Status: Single with One Dependent (Parent) / No Kids

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~RM891K Net Worth, valued as of March 2024 rounded up to the nearest thousands. Could be more frugal, but happy with the current balance in life vs. savings

Asset(s):
Condo @ RM0 - I value it at RM0 since it's generating expenses rather than cash flow. It's a concept I took from Rich Dad Poor Dad . Controversial, yes, but I'm more comfortable this way. (Market Value probably RM400k-ish nett transaction fees)
Vehicle @ RM0 - it's just a piece of metal junk that gets me from point A to point B, 15 years and running!
Cash @ RM200K - includes all kind of random cash - be it in my Flexi Loan, FD / StashAway Simple / Overseas Cash / etc. Recently hoarded more than I'd personally like, but no choice since I need to spend these in short/mid term.
EPF (Passive) @ RM447K - passively managed EPF a.k.a our sweet sweet Conventional Portfolio with yearly dividends
EPF (Active) @ RM117K - actively managed EPF a.k.a i-Invest or withdraw-to-invest and try to outsmart EPF. And yes, I fared worse than EPF. Might as well kept it untouched.
My "Freedom" Portfolio @ RM440K - ETFs, Stocks, FDs, and all random craps
Liability:
Mortgage Loan @ RM310K - been accelerating my payments since Dec 2023 before I make my next big move in my lifetime.