Living a very high life, lifestyle is being funded by commission. Once that water tap shuts, really 404.

If annual income around 1 mil, 6 years of work only getting less than 1 mil net worth. I am not sure where most money is spent.

Well, I have had an excellent year in terms of adding to my SGD net worth in bonds & savings... best year on record, really:

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But it only goes to show that I am a saver and a hoarder and I value the money I earn/make enough not to waste it.

Happy to share, but I'll take the photo down again - just drop me a note after you've had a chance to view the numbers. This is what I currently hold in SGD denominated bonds and FDs and instruments like FCNs and dividend stocks.

That's some in Singapore all in bitcoin before it boom and cash it out. That's why they can afford property in Singapore. Thanks to crypto. Crypto really change their life. My friend also all in crypto. Every month definitely buy crypto. Go big or go home mentality

Can try out GXbank. Higher interest rate than rize and less issue supposedly.

Also you might want to think about investing overseas stocks to protect against your future purchasing power (my teacher words, not mine). I don't hold ringgit at all except for PRS and EPF.

That's why I refuse to buy property in Malaysia. You are sinking in 700-800k into ringgit.

Depends on you. An investment is not growing it's payout is not a good investment. If you follow s-reits you know many of them their dividend was reduced due to high interest. That's why I don't hold any s-reits anymore.

Btw are you male or female?

If tenant cannot pay 100%, you still need to cough up money.
30 years down the road, ringgit would have drop more. Not worth it.

Investing in properties has alot of similarities with investing in stock.   There are two component to look at,  (1) capital appreciation / stock price gain and (2) rental / dividend.  High rental/dividend will corellated to lower appreciation / stock price gain.   At least this is true to most but not all and vice versa.

So just aiming for high rental to cover your installment is just short term view, ignoring the other component all together,  which is a long term view.

Your definition of correct way of investing property mostly apply to distress properties that has low resale value but command a high rental due to its location and maturity.

actually no having owning both asset class. owning hard asset like property have a lot of hidden cost and in a way its not passive. u need to work renovation, find future tenant, lawyers, etc. The reward? its so small and high chance u will lose money. U are taking up a lot of risk.

Stock dividend i can literally sleep and take it. the real definition of passive cashflow

Interest paid by rental $$. if can cover the whole installment means house also paid by rental...I only pay other $$ such as quit rent,management fee etc....its a good deal to me....

how bout the hassle to handle tenant? you can engage 3rd party to handle everything A to Z, but need pay for certain fees...so this is depends on the investor preference.

if i dun buy the property, no rental, then no fully paid property after 30 years, equities = 0

if i buy the property, got rental, after 30 years fully paid, equities = Property market values 30 years later.

Sell the property 30 years later, you got cash, or continue collect rent.... be it in MYR, rather then equities = 0

exactly what i wanted to say....   

Property is all about location, location, location

I feel stocks easier. Buy those debt free companies paying dividend more or less ok. Not all like that. Need to choose carefully. Cause no debt, no one to answer to but shareholders. Less stress.

It will be my first property
estimated rental 2.3k with price of 535k.
3 BR 2 Bathroom

It will be my home in future with 2 rooms rent out.
I gonna pay 700 for room/lodging anyway, so why not i buy my own house first.

Flexibility is not an issue for me, just rent out and buy a new one (LOL)
In fact, i think base on my current income, i can go for 2nd and 3rd property as well.
Just that it will squeeze my cashflow tight.

Question, do you think spending extra 40,000 CASH to buy a carpark lot that worth 150/month perpectual is worthy or not ... Hmm.... translate into 4.5% gross yield

Imma gonna go slow, wait for the first project to finish, everything settled ? then go for the second , and third that way.

whoa bro
you have bought so many properties on bank leverage? it sounds high risk endeavour.
I doubt that can nett you close to 100% profit
expenses to buy a 1 million property is not cheap.
a profit margin of RM100k is not enough
lawyers fees, etc  easily more than half gone.

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.

I was thinking about getting a Taycan, but couldn't do it knowing that my parents are driving an almost 10-yo Toyota haha. I will get them a better car first, also, I don't think it's wise given how tight my cashflow situation is.
I keep thinking about buying myself a nice watch like a Breguet or a VC, but just couldn't do it too, I guess my M40 upbringing just couldn't make myself to justify these purchases yet... Most of my splurges are for my parents nowadays... nice holidays, Michelin meals, nice hotels, clothings etc. ...

Unfortunately, I don't think we will come back to the country until we both retire.
A few reasons:
1) On your point re. brain drain:
I feel like our country betrayed many of us, including me. I have not received a scholarships from M'sia despite my acedemic and social achievements. I left Msia for Singapore for high school (scholarship), and got uni scholarship offers from Sg, HK, Canada, and the UK.
With offers from top unis across the world, I applied for Msian scholarships during my pre-U because I didn't want to be bonded by foreign countries, but was continuously rejected for god knows what reasons... (I was a top perfrorming, all rounded student... global competition in Maths, Essay writing, Physics, hell... even Fine Arts and Performing arts... held leadership positions... I did so many charity work I even went on the news)
One time, a Msian company rejected my application because apparently, I failed the math test... I do Math Olympiads and they're telling me my math isn't good enough...
When I eventually got to my uni, I was shocked by how many rich kids were on scholarships, many had ties to the companies sponsoring them...
These stories are so common in M'sia.
2) The people: This is not Msian specific, most Asian countries are similar... I cannot understand why, so many people are so angst and competitive for no real reason... driving, their kids, wealth, whatever they can compare, they compare... whatever they can win, they want to make sure others lose... It drives me crazy... A lot of things are status / who you know based too... It's not meritocratic.
I didn't come from a rich family, and cba about socialising with the rich etc. so I don't think I'll do well in M'sia.
3) The hypocrasy of almost every damn thing: from politics, to censorship, to upbringing, to racism, to education, and everything I can think of... I don't really want to elaborate here as it will take forever and might offend many...
4) Our careers: similar roles are non existent in Msia.
5) Our kids: I want my kids to be able to do whatever they want without being judged / limited by extreme societal pressure.

That being said, I do like helping M'sians whenever I can.
I actively help M'sian students on job applications, scholarships etc...

Don't get me wrong, Malaysia is an awesome country to live in, cheap and good food, cheap houses, peaceful...
But I don't see much that it can give or have given me, for me to want to sacrifice my prime adulthood for it, or my kids' childhood.

When I am financially stable enough to do what I want to do, I will definitely go back to help whoever I can.
But for now, we won't be heading home anytime soon...

Hi, want to share my experience…

My wife and I came from middle class families. Both of us graduated from Australian universities in the 90s, courses paid for by our parents. I managed to attain 1M net asset 7 years after working. However, due to financial obligations to siblings, parents from both sides and own family, wealth accumulation had been slower than I expected. Things only brightened up the last few years after obligations to siblings have been fulfilled according to my parent’s wish.
Now I work 11 hr day, 6 day week, including public holidays, down from 14hrs previously, will reduce to 8-9 hrs next year to spend time with family

Salary – 25% our monthly income.
Private fund management. – 75% of total income.

Age: 50+

Assets:
Five properties, estimated 22M
Two 10-year old cars worth 30k
Equities invested in various countries about 12M.
EPF 1M
Business – Not appraised.

Liabilities
Loan – 5.5M

Feel free to comment.

You can't blame those who predicted the future correctly and moved their assets - or moved themselves - out of the country early enough not to suffer the horrendous depreciation in value that came with years of mismanagement, corruption, cronyism, nepotism and abuse of the NEP under successive regimes.

I'm lucky I hopped on that train before it left the station.

It's never too late to board the train. The station is always open... at CIQ Johor Bahru... 

I hopped on one back in August 2023 to Singapore. Never look back bro.

Only buy what you can afford. I would never buy a car on a loan. If I'm going to enjoy it, I'll enjoy it debt free.

It's not applicable for everyone. It's just how I'd (stupidly) do it.

I am talking about being realistic. If you hold ringgit currency, you would have seen your net worth erode with time.

Oh, I have other factor to consider like marriage, kids etc.

If just purely looking at money yes SG is not the best place to work. Earning CHF might be a lot better.

Then there's also tax and living standard considerations in GBP, USD and EUR countries. Capital gain tax, inheritance tax etc. all eats up your wealth.

A lot of things to consider, in the end I choose SG in the end to stay with my future special one.

I think it depends on your profession. Most professional white-color jobs like doctors, accountants, professors, researchers will require physical meetups with clients and students. In those cases, earn SGD can only be done in SG and likewise for other currencies. 

Arbitrage in spending can be done in places where there are geographical proximities with different currency strengths. Famous examples are like JB and Singapore, Shenzhen and HK. Not sure if San Diego <-> Tijuana counts... well Americans do cross border to Canada and buy cheaper drugs...

Anyway, I know tech bros and crypto bros can be digital nomads, but then not everyone's interest or strength is in cryptos or coding.

To each their own lah

On physical presence though, especially for engagement-related works, as much as I hate socializing physically (being an introvert myself), I can't deny the advantages that physical meeting has over a virtual ones. The experience is REALLY different, even in corporate world. Most of the major decisions/discussions/influencing factors came from informal "coffee chat" or over "dinner time" rather than formal meetings where people tend to have reserves / play their politic games. But having said that - definitely agree that it is not required for 100% of the time. Key thing is to strike the right balance, in my view.

As for opportunities - definitely agree that it's everywhere and we just gotta keep an open mind for any kind of possibilities and opportunities. Limiting factor starts from our very own beliefs Can't help but to ponder why sometimes people react negatively when they see someone else being more successful than them - rather than taking it as a source of inspiration. Mind really do work wonder when we feed it with the right beliefs. 

im 30y old in kuli IT career

i saw this tread and i seems "How the hell you guys can save a lot"
i came from b40 family from east cost, and something i need to gave some money to my parent & siblings not much just a few hundreds

Hope this can get align back on my mission to follow you guys step

i would love to get advice on this

Loan
House = RM460k - RM2100/month remaining RM420,000
Study loan = RM88,+++ remaining RM45,+++
Transport = RM45,+++ remaining RM24,+++

Assest
Physical Gold = RM20,+++
Cash  investment = RM25,+++

My current goal is to get RM100k worth of cash investment, pay up my transport -> study loan -> then house

House - Possible to stay with your parents and rent out this house?
Not possible - because i come from east coast, i am first generation coming here. Need to stand on my own, parent in east coast.
Transport - Sure this one i think once done with the payment i will not add more liabilities
Income - ongoing... i skill my self up and trying to be the best in my own field. For 2nd income i'm not sure yet, because my 1st job already taking too much time in my daily live. But let see in the future if i can free up some my time and find 2nd income

I also used to follow this warren buffet advice.

Then I changed my mind and 2017-2018 started to buy gold seriously. The investments I made in those years have doubled in value with >10+% CAGR.

Do you know that gold outperformed most of the property in Malaysia over the past 10 years.