u say 1 share your calculation.. no haf also

No enough money to buy must ask parents to sponsor property one meh?

Go rent ler while working and save up down payment like everyone else ler. I also lived in rented 'room' in low cost flat for first 5 years when i am first employed...

Children nowadays have easy life....

This post has been edited by gark: Apr 6 2013, 01:05 PM

I doubt your children would adopt to your prescribed lifestyles wholesomely.

And that reminds me of a rich doctor , the son jumped from a tall building in Penang not too long ago.

He may be a good controller of his son's financials, but losing him to another human being ( love problem ) .

He is still a loser after the tragedy .

Hi guys, first of all I have to say I'm a fresh grad and I've been reading this thread and it's helping me a lot. So thank you guys and keep posting!

My question is, recently my car (very old family car passed down from siblings) broke down. Long story short I can't really use it regularly anymore. So will be getting a car soon-ish, question is for the next five years would it be better for me to get a new Viva or a secondhand car?

I've been trying to save for my emergency fund/ buffer so I can start investing as soon as possible so this is a big move for me Considered other means of transport but I think buying a car is the only way now, unfortunately.

Any advice?

If he wanna marry then still rent ler? u not pity him? how can be a dad let his son like that.

methinks.. that's how children are spoilt silly

Financial Planning cannot be started with no figures given.

Let's go to the basics , save an amount of what if u intend to save for a goal and purpose, and u can spend off the rest.

If u are a frugal type , then u can save more and with comfort ability .

Then u start to prioritize what u need to spend , maybe a car and so on.

Some say getting a new Viva is not much diff from a second hand ......high second hand value plus repair factors and so on

I let others share more on this area..........

This post has been edited by SKY 1809: Apr 6 2013, 02:18 PM

A lot of people rent even though they have like 3 kids already.

Giving in so easily will spoil the kids, let them work for it will bring character which will last a lifetime.

+100

U give in, give your child marriage home, buy him a grand mattress to make grandchildren for u

But, that's no guarantee that he would be grateful and take care of u til u enter the wooden container.
Cover yourself first, if really got A LOT extra then only give a bit.

Easy to say than to put them into practices.........

In KL there are many safety and security problems...........then sometimes u think u have to give way . in order for your children to stay in a safety zone.

A few months ago , one father wanted the child to be independent by taking a taxi back, next thing the father cannot find/locate the child till today.

This post has been edited by SKY 1809: Apr 6 2013, 02:29 PM

er.. true but yr example of a CHILD Vs a MAN MARRYING is a bit too different right?
A man marrying is supposed to be a provider, protector & guide to his new family unit right? Buy him a house?
If he was a real man - i'd think he'll take that as a kick in the nuts leh - as if he still needs such things from his parents.
Then again... (not accepting handouts) maybe that's why i'm not filthy rich up to now lar heheh

This post has been edited by wongmunkeong: Apr 6 2013, 02:52 PM

Hmm thanks for the advice. Looking around the forum I think since I've already decided to get a car it would be better for me to ask at the car section.

Back to financial planning.

So from what I read so far it's better to have at least an emergency fund of at least 6 months salary before I start any kind of investment? So 2.5kx6=15k ? Better not touch anything before that?

Save 1 year, 2.5k x 12 = RM30K in case family members or love one emergency life or death, the money can be use. Put in FD mature every 2 months. Put RM5K FD every 2 months.

Thanks for the tip! Man I have a long way of saving to go.

for a fresh grad have 3 month salary is more than enuf..u nd 6 month after u gt marry. 2.5k x 3 = 7.5k..5k put in eFD (3month auto renew).2.5k put in saving account..

after that you should go buy medical card & pa insurance.

buying new car or used car is up to you, since u already have 1 problematic old car in house, y stil wan waste money go buy another used car? i tink either major repair the old car or buy new car better. 2.5k, cn consider saga or viva..

just my 2cents..

when u save enuff money for downpaymen the price already jump 100% ler..

That did not happen to me bought the property with my own money. I paid almost 40% downpayment.

You just gotta have to make sure your earning power moves faster than inflation.

I dont save the money in bank account per se, but invest it for good returns. From the returns become my dp.

This post has been edited by gark: Apr 6 2013, 10:06 PM

its not inflation only.. maybe u buy time the property price not crazy like now..

Now every 6 month price up 100k... u think your salary or investment can give u so high return?

Those buy early now ok la.. example i find just recently all prices even the lousiest flat in Penang is cost 100-200 k liao.. More livable 1 with around 800sqft will min 300k.

And last year u still can get around 200k+ for 800 sqft flat.

COndo all over 500k mark liao wif condo which consider medium class few yrs ago now is at least 800-1million

There are a lot more sub-sale property that below 200k in KL or between 250k-300k. Depends what you need vs what you desired. If youngster prefer new property and nice location, of course need to pay for the premium.

You may do a quick search in iProperty with min 100k to 250k, Property Type as Apartment/Flat or Condo/Service Residence and State as KL.

Condo over 500k last year is not for medium class employee with earning power of RM3000, it's more for investor. Your example is not realistic for majority of employees with earning between 2000-4000.

Let's take a location as an example, Pandan Indah is a matured township in KL. There are a lot apartment or flat in that surrounding still can be bought below 250k with size of 800-900+ sqft. I'll name few :

Nuri Court

Grandeur Tower

Kenari Court

Surrounding Pandan Indah

Im work in Penang not KL