Yea, stamp duty and legal fees some more

This amount is not small.

I believe we late invest in property for short term.
Too high the loan we bear with not many ppl hv the errning power to purchase.

Just to share (in case there are interested fellow forumers):

http://forum.lowyat.net/topic/2717999/+30
Save minimum of 10% of gross salary from your net cash (on top of EPF savings lar) cukup for simple life up to 81.
If have grander ideas or children, 20% of gross salary from your net cash (on top of EPF savings lar) can do gua.

Editable version for U to play with (YELLOW CELLS - change the variables and see results):
https://docs.google.com/spreadsheet/ccc?key...RWc&usp=sharing

Original version (uneditable) - for reference in case some folks totally screwed up the original:
https://docs.google.com/spreadsheet/ccc?key...bUE&usp=sharing

Please note - my GoogleDocs Spreadsheet is a bit stiff, this is my first time doing something "semi-complicated" using it.

Oops - UPDATED the links.
Copy & Pasted links from LYN dont work well heheh. My bad

This post has been edited by wongmunkeong: Mar 12 2013, 04:02 PM

still better than waiting for retirement (60 years)

We're sorry.
That is not a valid spreadsheet URL.

There are lots of good spreadsheets out there too, I've used this before:
http://www.simpleplanning.net/

Wong Seafood,

Let's say gross salary 5K, net salary 4K+, so have to save 5K x 10% = 500 on top of EPF?

500, wet wet water la

Yup - exactly.
That's if we dont want to leave any investment a$$et$ behind lar
AND can live on the gross amount we started with
ie. if we started work get $2,500 then retired, expect value of $2,500pm for spending during retirement. Note that the $2.5K is inflated 4%pa for retirement years, thus ok mar


BTW - to AlexKOS, i've updated the links
My bad - copied & pasted from my other LYN posting. Doesn't work coz shortened.

This post has been edited by wongmunkeong: Mar 12 2013, 01:47 PM

Let's make 10% an absolute minimum then. Anything extra e.g. bonus of course we can top up our investments.

Extras are for financial freedom AND giving back gua

It also comes back to the amount of commitment you have, although mostly financial gurus will say 10%, which I really cannot understand why 10%.....why not other number?

Agreed. For me who have to pay all the household bills and pocket money for my dad, 20% is the absolute maximum I can go, 10% still fairly comfortable though.

Those who don't have to pay all the bills and only have to give parents a nominal amount, they can easily save half of their net income.

The "financial gurus" 10% is a MINIMUM bro.

Also keep in mind, most of these gurus are from Ahmehrikah - where they've social security
They've also 401K and gawdknowswhatelse where they pay themselves with some matching from Employer.

Here we pay ourselves & our employers help out via EPF.
Thus, different calculations though approach is similar - SAVE
The WHY 10% for us here - take a look @ the simulations above lor (post #2248)

This post has been edited by wongmunkeong: Mar 12 2013, 03:48 PM

US got unemployment benefit...Bolehland u menganggur, u sendiri punya problem. Thus, I fully agree that 10% should be ABSOLUTE MINIMUM.

To all sifu out there~

I am 21 yrs old and will be starting my work next week with salary of RM 2700. But the sad news is after EPF (300), Car installment (580), petrol - tolls - parking for work (440), phone bills (60), I am left with around RM 1300 a month for personal expenses (food, clothing, etc) and personal savings. None of the expenses could be claimed as allowance from my company and the high car loan is because I only have RM 5000 from my own bank to pay as the deposit.

Not sure whether RM 1300 is sufficient for me in KL but I will still set aside RM 300 as savings, which will give me RM 3600 a year. So any tips on investing this savings beside FD in bank? Being a chinese, all ASN quota are filled up so I could not get hold of one and my salary is still way insufficient to support a property investment (at least for the first 5 years). Though I have a fair understanding and methods in making small medium-term gains in the share market, could not invest since I am starting my job as an auditor in Big 4. (Welcome to super stress and late working hours huh ) We would get into trouble for investing in shares due to the confidential info we had.

So is there any other form of investments for me? Did not read enough on UT and FOREX during my university years so is a big no for me. (too risky) And gold and silver bubbles has long burst in year 2011. Hope all the sifu out there could give me some insight on better alternatives to invest my savings every year~ LOL. Thanks and sorry for the long post~

FYI, my company reimburses our auditors for their meals if they work OT at our place

RM3 roti canai + teh tarik
RM6 nasi campur + cina teh ais
RM8 nasi campur + teh/kopi ais (ok la, dinner drink better a bit after a hard day at work)
Total: RM17

RM17 x 30 days = RM510 ONLY

But 99% of auditors I know do not eat nasi campur...they always take the excuse of "hard work, must reward ourselves..." to splash out $$$ on meals

Whose $$? Personal? Company? For the "luxurious" food?

Sometimes McD, sometimes mamak, sometimes even japanese food

I know. My point is whose $$.