Hi. What's your ultimate goal?

Well, to earn as much as possible of course. As long I take the chances of earning, I would.

Hm.. sounds familiar - as much as possible, as fast as possible?
eh - like that better buy lottery ticket lar $3 for $3M or more if jackpot

In my humble opinion, investing should not be "as much as possible, as fast as possible", rather enough returns for the risks and effort.

Just a thought
Yeah yeah - some people "invest" in lottery tickets and 4Ds. As U were

Robbery or kidnapping easier.

I advise him to drive around international schools and just take any kid he sees. After a few times he will be a millionaire

"To earn as much as possible..." how much is enough? RM5millions?
Do you have specific number of your ultimate goal? Like how many xxx of money to be earn by what year....

Do you have any specific goals to achieve in your life? What you want to do when you have the freedom of time & money?

If you have trouble to think what are your goals or dreams in your life, you can start visualize what would you do if you have RM10millions in your bank account?

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Added on May 9, 2012, 12:35 pmHi.

There are differences between a poor man and a rich one, they are about mentality: the Poor one that everyday sees a day full of problems, another day of work; but for the Rich one a new day is a day of success and challenges.


This post has been edited by how2wfh: May 9 2012, 12:35 PM

Sounds like a rich dad's advise

Guys, as much as possible simply means of the highest possibility la. I know kidnapping is very possible but I don't think it's a good idea LOL. All I want is possible earnings like FD, or like suggested the flexi mortgage but I am not eligible for that. So what is other solution that commonly people do to have an addition of money instead of just keeping the cash in the savings account.

read this http://thestar.com.my/news/story.asp?file=...0906&sec=nation

your link doesnt work. there is ... after file= ..
Please paste the full link.

Hi dear Lyn bro & sis, i need some advice & view for my financial management.
Below is my financial report

I'm married so will add in all my wife income & family expenses too.

Monthly :
Total Income : 9k-10k (me + wife)

Child : born soon (this year)
Car & House loan : $3000
Car Maintenance : $700 (including insurance, petrol & all service)
Phone & Electrical bill : $400
Personal Insurance : $500
Meal : $800
Personal Care : $200
Tax : $200 per month (divided by 12mths)
Parents : $600
Outstation : $300
Medical expenses : $300
Future child expenses : $1000
Etc : $200
Total Expenses : Around $8200

After monthly expenses, we left around 1k-2k.... please advice any planning changes i should make.
Should i just save the 2k into bank, or make some investment ?
I already mess up my car loan few years ago... car loan itself already more than 2k per month... 2 years ago my income was few K higher... now still left 2yrs+ to finish the loan.

Is above expenses for 2 persons?

Parents : $600 - for both parents?
Medical expenses : $300 - what is this medical expenses?

Yes, it's all for 2 person.
Parents also both side.
Medical expenses $300 is for those minor cough which cant claim by insurance. So i just leave it there... somemore my wife is pregnant also need checkup

U can get a savings plab for ur children. there's a lot of good savings plan out there

2k savings issnt too bad.Its 20% of your iincome.
Yes 2k for a car is bad.
Appears to be fuel guzzler. Big car? Sell and get smaller fuel efficent one.
1k for a child monthly expenses appears to be quite high. i suppose thats inluding the nanny.
Can you pay your mum to do nannying?

1 month car maintenance RM 700 ?? 2 cars??
Medical also RM300/month? u sick every month?

Any plan to recommend, katrinacheong ?

Maybe becos i suffer from income drop few years ago, now really scare 2k saving not enuff.
If next year income drop another 2k means i no more saving. And if drop more than that means i going to eat grass with negative income.

My car is a honda accord 2.0, not a fuel guzzler it's still acceptable. If sell this accord and get a smaller car... mean i need to loan one more time from bank again... then i also rugi becos of bank interest %

1k for child is estimate, my mum is not very healthy so can't help...

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Added on May 14, 2012, 11:33 amCar Maintenance : $700 (including insurance, petrol & all service)
Car Ins. $170 (after 55% NCB)
Petrol $400
Every 5k mileage service around $130

Medical $300 for backup... i just leave it there.... if didnt use will just bring to next month and so on


This post has been edited by LifeIsNotEasy: May 14 2012, 11:34 AM

If you are serious about cutting.
1st one is the car. 2 liter engine is pretty serious guzzler.
Smaller car means a new loan but you are using the 2 year balance of 48k plus to pay this.
BUT you pay less for fuel for the forseable years of usage.

Car insurance and servicing is not a monthly cost.

This post has been edited by prophetjul: May 14 2012, 11:41 AM

Hmm... will take into serious consideration about my car
I know car insurance & servicing is not monthly expenses, but i just divide it into monthly so that i can see my monthly report more clearly

I think that the above expense is reasonable for a family man.
Just put the 2K per month into the bank as emergency fund or waiting for any opportunity.

It will still be wise to sell the car and get something that you dont have to take up loan. This is the best choice.