pls, the world is bigger than u think, i have engineer friend who bought 300K house within 3yrs of working with CASH, 2nd house in another 2yrs later. another friend may not be that capable but owning 3houses with loan but more in FD/share.

for TS case, we do not know whether he was working part time b4 and for the past 5yrs if u invested well from 2004-2007, u might have make a sum from stocks, probably he cash out n put in FD. that was just my assumption based my friends' experience.

afterall, if TS keep his expenses low, he doesn't have to earn 10K/m to get wat he has now.

I assume u know O&G engineer can make alot of money if u r very very hardworking...

@santaclaus,
do respect here is not Kopitiam.
U can always ask for clarification on 20K for insurance, in this case, I assume is policy value. it was not mentioned under liabilities.

This post has been edited by yewkhuay: Sep 11 2009, 06:05 PM

as u mention , rich ppl never tell u how rich they are, perhaps this fren of mine got other income that i don know. Probably only he can do it coz most of the time he is oversea and he never own any car or luxurious watch or phone, stay in sister place , can consider he save up >90% of his nett income. I m not in O&G business, i reserve my comment on how much they can earn. Just be open with what ppl wanto claim they have earn n save up, it is always better to ask HOW than say NO WAY.

My example of mentioning this fren is not to lift my status , but to indicate that there are ppl out there that can earn n save up alot. If I bought 300K house with cash , i will say so.

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Added on September 11, 2009, 6:23 pmthen i think is best for u to tell insurance agents wat u do not trust in insurance and see if they can clear ur doubt, since u plan to do something about it. there are a few insurance thread here, u might wanto go through some of them.

This post has been edited by yewkhuay: Sep 11 2009, 06:23 PM

she is too rich to have anyone qualify to be Rich BF for her...

u mean after u join discussion in LYN more frequent u became a bigger spender ?

u mean u r unemployed ,right? u told me wat...waiting for fully extended story...

congratulate him for "Owe the bank 1mil" ?

pls explain further on the debt tht ur fren is having, and by having a mil debt and able to pay back doesn't mean he has a good net worth, it takes one recession that hits ur fren to wipe out everything he has.

tht's d reason y i ask for explaination on what kind of debt he owe bank before I assume anything (businessman also have millions of debt that generate $$ for them...), and yes, i know what is good debt n bad debt. I myself have few 100K debt tht generates income for me but I do not think i need to be congratulated. as long as u have debt, there are variables that can turn bad.

Very very impressive, I was wondering whether u set up a fund for ur kids' education need (may be in the insurance I supposed )? how old are they btw?

now tht i have a bigger target to work on, 500K p.a at age of around 45...

this topic still alive? lol

I think u misunderstood what is moderator and what is elite.

LOL!

I long time no post, better respond to topic b4 spam here:

Age: 32
Occupation: Manager
Marital Status: does it matter ? wife and gf also asset , lol


Asset(s): or Liability ?
Property: current value
1. RM52K Outstanding Loan: RM 30k, 30yrs?
2. RM36K Outstanding loan: RM 19K, 25yrs?
3. RM36K outstanding loan: RM 18K, 25yrs?
4. RM41K outstanding loan: RM 27K, 30yrs

Car - depreciating asset? lol
Market Value: RM 9k Outstanding Loan RM 7k


Liability (ies):
Study loan: RM15k, bcoz BN i donwan to settle.

Insurance:
Life: RM50k
Medical: RM15K

Investment:
UT: RM2k
Bond: RM1K

Cash in hand
RM10k

wat does tht mean ?

cut and paste is easy without knowing the insight.

thanks for the insight