I agree with simplifying your life to get "MORE life". I myself consider my life as simple compared to others in my profession. I believe I am a medium minimalist. I only have twelve articles of work clothing and five of the casual variety. I keep them in neutral shades for easy matching. Two handbags (used to be only one until a friend gave me another as a gift), two pieces of luggage for the two members in my small family and just 5 pairs of shoes. My house is pretty clutter free and to some, quite stark as I have very few items.

In paring down my belongings and adopting a more consume - less lifestyle, I feel that I have a better quality of life. I work 4-5 hours a day, 5 days a week. I take 2-3 one week holidays a year and I definitely have less stress. Some people might say that I have semi-retired. A lot of my fellow professionals envy my freedom and ask me how I do it but when I tell them, they always say that they can't do that because to them, appearances matter a lot: They feel that in giving up their BMWs, bungalows, luxurious holidays and latest gadgets means that they are not a success. The admiration they get from friends and family is too addictive. Societal pressure can be dehabilitating.

This post has been edited by cynthusc: Jan 17 2013, 11:19 AM

Hi ... im new fresh graduate working as goverment servant earning rm4500 after epf
currently already have a car and stay with my family
im looking to maximize my saving to rm500000 in 3 year... it possible
any advise ????

one more ting ....it is wise decision to get personal loan rm 200000 at 3.88% interest rate pay in 20 year and invest all of it into investment which give 6% dividend,....???

bro - quickie. 3.88% interest personal loan? Flat rate 3.88% izzit?
Not comparable to the 6%pa dividend coz flat rate % is NOT effective per annum compounded rate %

yes it flat rate.... thank for enlighthing about this thing....
so it not wise .....thank you...

bro
if u save ALL ur monthly earning for 3 years oso cannot get 500k

wow..bro u fresh grad yet earning 4500 after epf with gomen...u have PHD izit?
500k in 3 years? then after may i know wats ur plan?

Razor21,

There's no such as saving or investment method that can let you earn $500,000 in such as short time, especially three year. Regardless you're going to save it, you need at least $13,888 a month for 36 months to get $500,000. LOL

Hahaha so it unrealistic dream..any advise so that i can maximize my saving?
I realy like stock market but unfortunately i dont have time to supervise the market everyday..
I do have public bank unit trust and phb investment account, is there any other good investment that could i try?

er.. U talking about SAVINGs, Investing, Trading or Gambling?
The best answer to a not-too right question won't help the inquirer bro.

I'd say there is a probability of U having $500K within 3 years via..
Savings... nigh impossible unless interest rate shoots up like mad (ie. crazy inflation), thus defeats the purpose coz your $500K in 3 years is like toilet paper

Investing... ultra low probability as based on investing 50% of $4.5K pm, one would need 483.95%pa compounded

Trading... may be possible but can U handle it? Try leveraged trades like options, futures, forex but know that U can lose everything and more (leverage mar)

Gambling... possible but unless U are a card shark, the house / casino usually have the edge in probability, thus the longer U gamble, the higher probability U will lose more than U win. It's statistical.

Just a thought . Good luck.

I will tell you something, but you maybe found out that it is stupid or bad move.
Direct sales, pyramid scheme, or business but you may need a large capital with good mindset and management, if you have special skills like them in the outside. I always positive for direct sales because it offer good management skills and training.

Forex is a bad move, 90% of the investor lose money instead of making it, the one earn a lot only those people who created forex trading system and platform. Unit trust is not for short term investment, whether it give a good return, it is impossible to get $500,000 in three years at least you have million capital.

This post has been edited by adolph: Jan 18 2013, 03:35 PM

I will be making around 4k+ month when i start working soon.

Since I will be busy with work I wont have time to think or plan my spending wisely once I started.

I want to ask about 2 most important thing house and car:
Im thinking 1500 for house and 1000 for car. 1500 for living + parent allowance.

1) Buying a house is consiedered liability or investment? Should i quickly get a property once i have the money for downpayment?
The extra money i have should i save in bank for dividends or for property instalment?

2) I want to save money but i also dont want to look poor therefore thinking maybe spend 1000 for vios monthly? Is it wise? Should i settle with proton? Thinking if proton i might want to change car in 5 years the car value depreciate greatly compare to vios.

I don't find that a relevant point. A car is a tool, not an investment.

U missing THE POINT bro - "..but i also dont want to look poor therefore..."

How really wealthy we will be if everyone was blind, no eyes to impress.

What's the use of driving a Jap car but u got a thin wallet or worse, no money to buy house/pay for children education when u finally found that special someone to tie the knot with?

And I only broke the RM100,000 barrier after my mum passed away. From life insurance payout

Damn I shouldn't be clapping

Only the lucky ones who don't have to pay much to support parents and/or a household have the luxury of saving thousands a month.

This post has been edited by Pink Spider: Jan 18 2013, 05:34 PM

LOL!!!!

1)
Buying a hse can be consider liability and investment.

buying 1st hse to stay, settling down instead of paying high rental per hse per month.

when u move in stay, let say u get a $200K hse, u pay around $1k per month installment. This is liability.

After moving in to stay, u decided to try the market demand, u put a sign board in the front gate "For Sale". U asking for RM300K. This is an investment.

If there is a buyer who thinks your hse worth that much - Ong , feng sui good, nice interior decoration, etc then u can sell your existing hse and move to a bigger one.

My buddy change from apartment > condo > double story > now living in Semi D. He make it too. Now although living in Semi D, he still hang a sign board outside his Semi D - "For Sale". He aiming to live in Bungalow

Buying 2nd property for not for own stay depends on situation..

1. Speculator - They buy and speculate after complete built up, they can sell at higher price and earn juciy profit (investment)
2. Investor - They buy, and then want to collect rental from it long time..holding power long..(liability if buy with bank loan- usually after deducting rental and pay the installment equal to 0, investment if buy in cash ! - rental every month as additional passive income!)

2) What is the point of sitting a big car when AES is everywhere cannot even speed...Sitting local car cheaper spare parts and maintainance cost, ppl sit big car like Benz or BMW when too much money dunno where to spend- thus sit big car to be more comfortable, what is the point paying installment to sit a big car?

I don't see Ah Kau sit big car when he is a newspaper seller but the fincial executive sell his proton and get a honda civic when he get promoted, later the company lay off the financial executive gone mad

"What?" You scream out cold. "I got a lot of liabilities on the card! Who's gonna pay for my mortgage? My car? My credit card? My gym fees? My bills?" You yell like there's no way out.


I see later Ah Kau is a taukeh besar only sit BMW 3 series

http://www.skorcareer.com/malaysia-eng/ent.../ahkaustory.htm

Think twice you wanna be Ah Kau or the Financial Executive?

This post has been edited by AAAABBBB: Jan 18 2013, 06:42 PM

Why need to impress others? As long as you are comfortable with yourself, why bother what everyone thinks?

But that being said, no need to dress like a hobo.

AAAABBBB, you my idol already

Just to check, y don't u just live with your parents? Will safe you a lot more. Like what im doing now HEHE.

This post has been edited by doremon: Jan 18 2013, 07:19 PM

Live with parents, drive old car is an option

But lifestyle not cool... want to pikat awek with new shiny car

i thought with 4k salary enough, 1k house 1k car 1k everday use 1k saving