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

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mea05key
post Apr 23 2011, 09:47 PM

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Junior Member
272 posts

Joined: Sep 2008
Age: 26
Occupation: Engineer

Asset
FD: GBP 22k
Savings: RM 4k

Liability
Parents: RM 190k

Cash flow = - 90k

Man, what should I do..



mea05key
post Apr 29 2011, 03:35 AM

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Joined: Sep 2008
QUOTE(michaellee @ Apr 25 2011, 09:42 AM)
You owe your parents RM190k? But what is cash flow - 90k means?

house? Salary? When you asked what should you do, what are your objectives?
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I am waiting for the bloody pounds value to rise a little more before i sell that damn currency. Then plant some money into dividend shares and mutual funds. Leave some money and wait till the share market tumble buy a whole bunch of blue chips shares. My objective? to yield 10% of my 100k investment in a year, to maintain cash flow of +100k every year.

I am looking to get a house soon hopefully...

I can pay my parents on monthly/ yearly basis.

I can save max up to 6k a month

So anybody has anything hint whether is it the right time to sell the pounds or to wait ? I am waiting for it to reach 5.0 the lowest before i sell.


Added on April 29, 2011, 3:39 am
QUOTE(alwiser @ Apr 26 2011, 04:43 PM)
Realistically speaking, just wait till your parents are dead. lol
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Realistically speaking, you should keep it to yourself if you have nothing better to say. There's nothing to LOL about on such a thing. Bloody hell.

This post has been edited by mea05key: Apr 29 2011, 03:39 AM
mea05key
post Apr 29 2011, 10:22 PM

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Junior Member
272 posts

Joined: Sep 2008
QUOTE(michaellee @ Apr 29 2011, 10:46 AM)
Illegal car rental business is profitable but very high risks. If your car encounters an accident, the insurance company may not pay as your car is meant for private use and not commercial.


Added on April 29, 2011, 10:52 am

First, my personal opinion is the pound may not rise to 5 in the short to medium term (having said that, I am not a currency expert). Savings of RM6k a month is very enviable. Just on a very personal note, to be able to save that much at such age, I believe you are more towards "self employed" right, ie. working for family. But I don't understand the part where you say your cash flow is negative 90k. What do you actually mean by that.

From what i can see, you have quite a healthy financial standing and should have nothing to worry about. Property and share market are very choppy. There is virtually no direction anymore nowadays. Best to invest in low risks low return until the weather is clear.
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Thanks for your advise. I plan to monitor it for while, it looks like they are increasing interest rate soon which may affect the currency strength. I think I may have a wrong idea about the term cash flow. No, I am not self employed. I have a habit of not spending more than needed except for the past half a year. Yes you are right, everything seems to be in a chaos right now. I am waiting for the big dip to happen again, then pour my investment money into it.



 

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