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

kaiserwulf,

Your net worth is asset - liability = (20K + 18K + 5K) - (11K + 24K) = 43K - 35K = 8K

Dreamer

you work for 2.5 years and you have 60k EPF?

i think he work in sales line, from what my friend work for Bank, their employer contribution is 15% and all commission earned will be contribute EPF

My employer contribution top up extra 4% on top of normal and yes additional allowances are deducted and contributed for epf also. Though, more people seem curious about the EPF more than advising on the networth and some of my concerns.

@(wodenus on low net worth): Yeah, high expenditure on a single's life. I give about 500 to parents, chalking up about 3-4k a mth expenditure. Usually on lower side of 3k but on certain time higher side to 4k (1-2 times a year).

Yes, either you spend minimal to maximise the rental OR dispose and acquire others which are higher yielding. But in doing so, there are of course risks and added costs.

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Added on April 10, 2011, 5:13 pm

Damm, the internet.. heheeh had a long reply for you but all gone.

Ok. ROI. I believe historical costs might not be the right way as it does not give a true picture. an extreme example would be a shoplot bought 30 years ago at RM100k now being rented out at RM12k a month. That means yield is 120% but if shoplot now costs RM3million, suddenly current yield is 5%.

There are ways of enhancing a property's value. You could either cash in and buy another place with better yield (can be risky too). Or you could redo the unit and then maximise the return.

knowing who owns what is quite important. For example, if you are planning to buy another property, perhaps your wife could transfer her 50% in either B or E to you, so that the next property if 100% under her name, she could still qualify for 90% LTV. If she transfer both B & E to you, then she could buy another 2 more under her name with 90% LTV.

One thing, you do need to get some cash at hand. Your net cash per month is quite good at 1.5k to 2k. Assuming it is 1.5k then you should have around RM18k a year. But holding RM5k now is kind of low. You need at least 6 months of total mortgage repayments at hand to ensure that you are prepared for adverse situations.

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Added on April 10, 2011, 5:15 pm

I think your car is an asset as it has been fully paid up and it is a gift to you.

I presume all the monies listed are gifts to you?

Rather than moving FD to tabung haji, you can consider buying properties with some of the money for investment purposes. Your parents have not bought any insurance or medical for you? No point to overspend on insurance.

For 2.5 years effort, it looks good especially on the EPF side.

Personally, I have not touch stocks and not planning too on any big way. But I believe if you play blue chips, it can be good investments. Not sure if you should go into speculative shares. Personally, I have been concentrating and putting all my eggs into properties and so far it has worked out well for me.

(1) I would not spend too much for my own stay, with the assumption you are not married. Depending on your salary bracket, I would say if you can find some low or middle cost apartment which normally brings quite good yield, easy to sell, get that as your first unit. Maybe not to stay but to start off your passive incomem adventure. Your proposal of 100k for renovation would wipe out all your FD and stock UNLESS you are planning to get it from "somewhere". RM400k house would mean repayment of RM2k (quite high).

(2) Again, unless someone is funding your car purchase, avoid getting an expensive car. A cheapo Malaysian made car of around RM50k would does the job just as well. But again, it is your personal preference. Remember a car is more of a liability than an asset.

(3) I wish you success in this venture.

(4) As per above, good luck.

I really appreciate any input and feedback..what should i do to achieve financial and time freedom, i hate to work for other people, and plan to relax or do business by 35 birthday.

Age: 26
Occupation: oil and gas ( 1 year and half)
Marital Status: single with gf.
Asset(s):

House

House 1 - rm 400k (outstanding loan: RM 273k at BLR-2.4% 40 year loan, (monthly installment: rm 1120)
House 2 - RM 230k ( oustanding around 230k, complete by 2013, now paying progressive. blr-2.3% for 30 years)(monthly installment: rm 1101)
House 3 - rm 340k ( Oustanding loan: 237k, monthly installment rm 1010 for 40 years at blr-2.3)

Car (Malaysia)- market value 45k: fully paid
epf: around 10k or less.

Salary: rm 4500 monthly gross

Capital investment:

Precious metal trading/high yield investment (Around 30% per annum: RM200k( capital)
ASB (8.5%/annum): RM 260k( capital)
Investment income:

Rental income: rm 1300 gross/month
Investment income from precious metal trading/stocks/: approx rm 5.5k/month

Liquid Asset/Cash:

Savings/cash: RM 4k
Insurance:
Life and other:  rm 1800 a year(not sure what it covers, since been bought by parent since young and now i just continue the pay)

misc:
future inheritance: approx rm 4 million ( 60% property: 40% cash/unit trust)
Liabilities:
Cred card: rm 9k
Housing loan: all 3 house (approx : 3.4k monthly once 2 of the houses complete construction)
gf: rm 700/month
Dad: rm 2000 monthly payback to him because i borrow around 200k interest free cash loan
personal loan: rm923/month for another 10 months

expenditure: around 5k more or less (food, fuel, toll,, entertainment
thx