Shop RM500k for investment or own use?
Wow...are you finance it to bank?

This is a good thread. Thought I'd put mine up here too for comments,...

Age: Early-forties
Occupation:  Company/Firm Proprietor
Marital Status: married with 2 kids
Income per year: Don't know, hasn't counted for sometime.

Properties :-
2 Shoplots
1 Condominium
1 House (for stay)
Total : approx 2.54 Mil, all paid-up

Vehicles :-
1 Benz
2 Japanese
Total : 115000, all paid-up

Liabilities :-
Parents upkeep - RM 24,000 p.a.

Insurance:
Unsure, some items come with Insurance Policies built-in, eg Credit Cards
No fixed policy

Investments :-
Local Gov't Bond : 542K
Foreign Currency FD : 1.10 Mil at current exchange rates, set to go higher
KWSP : 196K
Foreign Structured Notes : 37K
Foreign Bond : 77.3K
Foreign Shares : 454K
Cash in hand : unknown, too volatile, if needed money, just take from company account

That's about it,.... Would appreciate comments - good and bad and neutral,.... Thank you.

xuzen,

<<You need to reassess your insurance again. It cannot be ignore. >>

Why??  It does not make sense in HIS case.  With 1 million in asset and 500K in Government bond, he is SELF INSURED.

Only insurance with coverage of 5 millions to 10 millions is useful to him but the PREMIUM may not be reasonable.

<<Another thing is that you do not know your income, you should. It is the first step in cash flow management. >>

Why?? If person work as a LAWYER as long as the person earn enough to cover OFFICE RENT, it is NET PROFIT.  He is NOT in retail service.

<<It allows you to optimally allocate your financial resources.>>

Which does not matter to HIM.  He has ENOUGH.  It ONLY matters to YOU because you do not have ENOUGH.
You are in WEALTH ACCUMULATION mode.  You do not have enough.  You want a lot more.

He is in WEALTH PRESERVATION mode.  He has enough.  He just need to protect what he has.  He does not need a lot more.

Dreamer

hi guys,

i was thinking of a way to save money. i earn 2.4k a month and i just graduated on May this year. i was thinking of saving money with my current income and would like to invest if i got enough of money and i would like to know what kind of saving methods you guys are using. some forumers mentioned that save 15% of your gross income ( after EPF and other stuffs right? ) and use all the others?

for my current situation, my spending and expenses in a month written below,

Petrol = RM 350
Food = RM 400 (sometimes eat with gf and i spend it )
Utility bills = RM 450
Other expenses = RM 300 (Entertainment stuff and ETC)

all add up together and deduct from my gross income, i only have below RM 700 left. is this good enough?

come and share your methods and care to give me some advices? smile.gif

thanks!!

i not sure yet about the surplus because when i count it, there are something that might deduct my surplus every month. for example, my office parking monthly ticket, i have to pay advance 3 months and it cost me RM 189 and other stuffs like taking car to service, buying groceries and others maybe.

yeah. i have to admit that i can't buy house or new car but if i got at least RM 500 as savings. what can i do with it? invest in FD after save to RM 10k? and for sure that i know i will buy my own gadgets and i think it is a very difficult part for me now to save money.

maybe in the future when i earn more, i will save more?

Xusen,... thank you. I think I can manage my own money-lah,... no need to pay someone to manage it, after all, it is, well,.... not really a lot,.. right ?

this may sound simple trivia question to some, but still interested to know.

In Malaysia, I heard that foreign income below certain threshold is not taxable under company operating profit. Does the same applies if you earn based on personal foreign income? i.e. dividends and rentals from oversea investments.

Somewhere along the line, you will have to be considered as 'tax residents' even if you are not their actual resident, if you earn substantial amount. But that is based on employment only or applicable to general investment income also?

roughly what is the threshold for our neighbor countries, e.g. Singapore, Australia?

this may sound simple trivia question to some, but still interested to know.

In Malaysia, I heard that foreign income below certain threshold is not taxable under company operating profit. Does the same applies if you earn based on personal foreign income? i.e. dividends and rentals from oversea investments.

Somewhere along the line, you will have to be considered as 'tax residents' even if you are not their actual resident, if you earn substantial amount. But that is based on employment only or applicable to general investment income also?

roughly what is the threshold for our neighbor countries, e.g. Singapore, Australia?

Yes, I guess some of them are at the top 5% class of the good earning people.

Earning RM500K annually is the moderate size company director's salary.

They must be good in financial planning than us, can be our gurus here.

I am not at the top nor the bottom, I believe I am at the middle.

For me, spend great efforts to maintain debt free, having a little spare money is great enough.

I guess money does not bring everything, if you don't know how to use it towards the target of your life. (you are not supposed to stuck at house with these much of money rite?)

Most people here earn 2-7k, not seeing any easy way to go beyond this range.

guys this my net worth

Age : 24
job : System Engineer
status : single but got GF

Asset(s):

ShopHouse- 1 Unit ( still owe bank rm 180K)  RM 270K
Single Storey House ( owe bank rm 45k) RM 70K

12 years old proton saga ( fully paid to bank)
Mondenas Kriss 110 motorbike

Insurance

not sure ( i dont think i have any insurance)

liabilities

PTPTN loan - RM 10k guess - paying minimum now
credit card - 4K out of 10K for my gold card

investment

currently no at all

cash in hand - 3K (very low) sigh~

both of my propertys is now on rental so i managed to pay  bank using the rental money
guys i need advise on insurance and the investment.

By the way, this is mine, feel free to comment.

Age 38, married with one wife and 3 kids.

Property one - 2.5M
Property two- 2.2M
Property three- 300k
EPF-300k
Cars- driving parents cars.
Stocks- 2.5M
Alternate investment- 500k
Loans- 3.2M
Cash-min
FD/bonds-none

I think some ppl who have posted their net worth here arent telling the truth. Its silly to see someone who earns so high and yet believes in putting tonnes of money in FD. For what? Plus some have so much money sitting in FD so why bother taking a car loan? U get about 3.5% in FD and then take a loan and pay 3.5% to the bank. Does this make sense???

Some say they earn 500K per annum but then keep almost 300K in gov bonds and FD but only has 1 house as asset? Anybody who knows investment well enuf will know that u should invest in property especially in prime areas e.g Damansara, TTDI, Bangsar, etc. Plus you have 2 Japanese cars with an outstanding loan of 40K for the next 3 yrs. U earn 41,600 per month so u can easily pay off the loan with about 1.5 months salary and save a little on the interest rite? So why dont you? He has a 700K house whcih is fully paid up but he decides to keep a 40K 3 year loan active despite his RM41K/mth salary???

On top of that, he claims he pays 40K premium for 4 members of his family. A person earning 41K/mth can only afford to pay RM 833/mth/pax for insurance? Most insurances now have the investment tagged to it so the more premiums you pay the more its invested for you and yet this guy only pays RM833/mth/pax?? But ke keeps RM110K in FD with rubbish rates?

I think this is all bullshit. Common guys. If u wanna share then tell the truth la. Why need to boast and increase figures just to prove what? Ure only using a nick name here. Nobody knows you. So just tell the truth.

Anyway the following rough figures are mine. Nothing great but im working on it.

Age: 32
Job: Engineer
Married with no kids
Income: RM168,000 / annum

ASB: RM 255,000
EPF: RM121,000
Gold: RM 60,000
Cash in hand: RM22,000

Property (prime area) purchased at 475K in 2009 but worth 680K now (based on recent transactions)
15 year housing loan to finish in 14 years or earlier if i choose to.

Japanese car worth 45K now but loan paid off in full.

Currently paying insurance premium of RM 1100 / mth

How does weekly repayment help since the interest is calculated on daily rest? Im already dumping in a bit more than my fixed amount monthly.

Since it is not a legit business, so hows is your RM 700k income consider ok?

If you are saying RM 700k for illegal business, then i would believe it is possible to attain that figure or even more.

Currently no other investment plan due to history, lost too much in stock so no more guts..
So all money keep in FD only.
My car interest is only 2.7% while my FD is about 3+%  (depending on tenure etc) so I rather put in the bank than to pay off the car.

Do you see my point?

Ladies and Gentlemen, member of the press,

I am "also"  new here 
May I "also" 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 "also" want to learn if my existing financial status and net worth is healty, lousy, etc...but guess what...I'm leading a miserable life now...

So I "also" 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: xxxxxxxxx Engineer
Marital Status: Also Not Married but also got gf.
Asset(s):
--4 yrs working exp
--humor sense
--"still healthty" body -- (<3 mc days in 4 yrs working)
Liability (ies):

Study loan: no more...by some how ptptn allow me no nid to pay (luckily) ...i got their letter as prove

Parents : srry ah pa ah ma...I was ur liabilities and now ur turns

gf : sorry ah....before u get  ur job stable..u r still liabilities

gf car : P2 rm700/month (3 yrs left) (she says will pay me back when her job stable...i think mostly not...or i will be dumped soon)
House (condo)-
RM270 k Outstanding Loan: RM 250k 29 years more ( I wan rent room out... but gf dun allow...now 1 room bcome store another bcom guess)

Car (Japanese car)-
Market Value: ~RM 60k Outstanding Loan RM 45k 3 years more
Insurance:
medic : RM100k (bought from previous gf's fren....), premium pay =250/mnth

Investment:
Bond: RM0
FD: RM 0
Stock options : 500 unit nia...=.= net =22usd/ canot sell untill min usd 30 nett per unit

Mutual fund : rm7k (but it nvr moves)
Debt:
creadit card : RM3000
Cash in hand
<RM2k
The thing is....every month I am suffering to secure my cash outflow...

pls save me! I think I going broke soon !!!

Ladies and Gentlemen,I find this thread is very GOOD.

I am new here 
Can someone please guide me on how i can optimise my investment as below.
I also want to learn if my existing financial status and net worth is healty, lousy, etc.

So I want to share my info and hope that can help me .Please add your comment/advice.
Sorry all the asset are belong to me and my wife (2 person)
Age: Me 35  Wife 34
Occupation: Sales
Marital Status: Married with 1+1 (on the way).

(Properties:)/ (Purchase Value)/(Current Value)/(Current Outstanding)/(Monthly Instalment/Year To Go)/(Current Rental)
(Condo A) / (200k) / (300k) / (187k)/( 1111/25) / (1260)
(Condo B) / (153k) / (200k ) / (123k) / (600) / (950)
(Condo C) / ( 70 k)/ (75k) / (Nil)/ (Nil)/ (500)
(Condo D) (88k (In progress 1/2 shared with my mum)) / ( Nil) / (Nil) /(Nil)
                 
Own Staying House -
(Condo E)  (238k) (230k)  (198k)  (1000)                                          -

1st Car (Japanese car)-
Market Value: RM 60k Outstanding Loan RM 40k 4 years more
2nd Car (Kancil)-
Market Value: RM 10k -no outstanding 
Liability (ies):
Parents spents about 4k per annum (Medical)

Insurance:
Life: RM 5k whole family

Other Investment:
Wawasan : RM11k
Unit Trust : RM 10k
Oversea Land Banking : 32k
Palm Oil :25 k

Cash in hand
RM 5k

Please Help !!!!

:stars  

Hi SilverfoX ,alexkos
Thanks for your advice ,agree with you to boost up on my liquid asset.Will also increase
my insurance coverage.
Wodenus,
My epf should be around 150k and my wife around 100k,can this be calculate into net worth as well ?

Hi xuzen,
IS it worth for me to convert my property investment into a company ?
Isnt that if i set up a Sdn Bhd will increase my expsenses ?
My worry is my passive income might not even cover a company basic exspenses like Audit fees, Sec fees etc

Age: 24
Occupation: Student (graduating in May '11)

Assets:
FD- 111k
Tabung Haji- 130k
Sukuk Simpanan Rakyat(gov bond)- 50k
Sukuk 1 Malaysia(gov bond)- 50k
Invest some in swiftlet farming- 10k

Liabilities:
Japanese car(market value 50k, fully paid)

Once I start to work, I plan to move my FD monies into tabung haji which distributes dividend around 4-5%. However, is that a wise thing to do?

Plan to dump the bonds into mutual funds once the bonds mature. Again, is that a wise thing to do?

Am planning to buy insurance/takaful(life & medical) but with soo many choices around, I've got no idea which to choose from.

Kindly advice and thank you in advanced