Sep 23 2009, 08:55 PM
QUOTE(jacboy @ Sep 10 2009, 07:07 PM)
Ladies and Gentlemen, member of the press,
I am new here
May I ask you all the following questions. As LYN has very vast pool ppl from all kind of backgrounds, so this is going to be a good pool of
information sharing.
I want to learn if my existing financial status and net worth is healty, lousy, etc.
So I want to share my info and hope you can share your info too. Please follow the format. At the end of the sharing, you can add your comment/advice.
Age: 28
Occupation: Service Engineer
Marital Status: Not Married but got gf.
Asset(s):
House (2 stories)-
RM220k Outstanding Loan: RM 98k 15 years more
Car (Japanese car)-
Market Value: RM 60k Outstanding Loan RM 45k 4 years more
Liability (ies):
Study loan: RM115k -borrowed from my uncle and he say when he need money will ask from me, any moment(cash)!
Parents, sorry ah pa and ah ma to call you all liability
Insurance:
Life: RM20k
Investment:
Bond: RM20k
FD: RM 220k
Cash in hand
RM10k
i strongly recommend u to refinance ur existing housing loan and get a flexi-mortgage (what i mean in this flexi mortgage is whatever amount u put extra will reduce interest payment, yet can withdraw anytime). Since FD u will only earn at max 2.5% while paying ur housing loan interest of BLR+1.00? or BLR-2.5%, you will still have to pay at least 0.5% more (BLR-2.5% - FD rate of 2.5%). at least same you few thousand bucks in a year!I am new here
May I ask you all the following questions. As LYN has very vast pool ppl from all kind of backgrounds, so this is going to be a good pool of
information sharing.
I want to learn if my existing financial status and net worth is healty, lousy, etc.
So I want to share my info and hope you can share your info too. Please follow the format. At the end of the sharing, you can add your comment/advice.
Age: 28
Occupation: Service Engineer
Marital Status: Not Married but got gf.
Asset(s):
House (2 stories)-
RM220k Outstanding Loan: RM 98k 15 years more
Car (Japanese car)-
Market Value: RM 60k Outstanding Loan RM 45k 4 years more
Liability (ies):
Study loan: RM115k -borrowed from my uncle and he say when he need money will ask from me, any moment(cash)!
Parents, sorry ah pa and ah ma to call you all liability
Insurance:
Life: RM20k
Investment:
Bond: RM20k
FD: RM 220k
Cash in hand
RM10k
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