I also manage to save about 25k p.a and almost had 100k now but still think not enough...
Always have the thinking of what if... as in comparing with SGD currency which is 2.5x then it would be RM250k 
Had planning to go sg for quite sometimes now, just dont have enough courage to do so.... 
cos currently in my comfort zone... office only 5min drive away and mostly stress free environment....  or should i go sg?
it would certainly double my income 

erm... i'm a saver but not an investor (still learning)
My target is to have bout RM2k passive income monthly at least... and free from loan 
Study loan: Will settle latest by oct 2013
Car loan: Finish by 2013
Hse loan: NIL - no hse    my biggest headache LOL

still looooong way to go to financial freedom!

Why would a person need an SG exit plan for?

The entry objective is quite simple - to make more money until your objectives changes if you have no better objectives in the meantime. When you are young/younger, you will never know exactly what you want until you try it out. Then you learn for your mistakes/experiences, and quite likely change your outlook/objectives in life. If it doesn't work out, or when your objective(s) changes, you try something else.

In a perfect world, everyone should know what their objectives in "3, 5, 10, 20, etc years" should be. But how many people have that perfect foresight?r

>. Well, perhaps with objectives or reasons clear & focused, one would do better than just exchanging time/life/risk to chase after MORE $? Don't U think so?

No problems, I agree, it is "better", if you know what you want in 20 years. But that's not my point.

>. Oh well, of course if U insist that objectives/goals/reasons must be set in stone before planning ahead or knowing why we want the more $ for, then U live in a more perfect world than I heheh.

No, I did not say that. In fact, the opposite - most people don't know exactly what they want in say, 20 years. You may know you want $ now, but you may change into a monk in 20 years time. So you cannot set any realistic goals for 20 years ahead, except maybe very generic ones like I want to be rich, famous and completely happy, but then want something completely different in future. So it may be more relevant to look at say the next 1, 2 or 5 years and decide from there. If you want to try out Singapore $$$ in the next few years, and be a monk in 20 years time, why not? You would never know until you try it out.

>> To me, as long as i know where I want to be, I can take many different routes to the same/similar destination. As I travel, I can choose to vary or change th destination mar, right? But if I travel without some sort of destination or objective, I may be just drifting where the tides & currents take me. Can also ar but where I eventually arrive, I may not like lor

Agree. A plan is always useful. If you know what you want, great. But if not, go and earn that SG $ until you have a better plan rather than not doing anything. All I'm saying is you don't necessarily need a 20-year masterplan before making your next move.

4% interest monthly?!? Yearly ma become 48% annually?? This looks like A-Long Sdn Bhd.

Oh didn't know there's such term as monthly rest. Paiseh la.. 

It's 4%p.a monthly rest, is it worth?

Err sorry sifu! 

PL interest rate is different from most mortgage reducing rate, so the effective interest rate p.a. is much higher than stated.

Effective interest rate for PL @ 4% is about ~7.4% p.a.  (our in-house accountant pinky can help us count )

PL @4%, 20K loan 3 years = 622.22 per month x 36 month = 22,399.92, total interest paid = 2,399.92

PTPN 20% rebate = 14K x0.2  = RM 2,800

You only save like RM 400 for 3 years.

Well technically he say company personal loan  . This kind of 4% loan is very common in GLC/govt institution working together with major banks. The payment will then be cut directly from salary.

A lot of people has been conned to think they get better interest rate. Typical sales talk is "only 4% mar a bit higher than FD only what, special for GLC employess only u know..." 

If really he means company benefit loan, then by all means go for it. 

4%p.a, if take 3 years for 20k means 1.3k in total which is 2.1%p.a with constant rate.

For 20k, 3 years i need to pay RM591 monthly.

Eh how u get this 4.17%p.a? Mind to share?

I found it is lower than any other loan can offer..

The kopitiam scenario initially came up because a member stated how people saving on soap at kopitiams were millionaires. This is not the best[ way in my honest opinion to gain your wealth.

If sitting at kopitiam after landing huge business deals is their choice then all props to them. They have achieved the freedom of financial choice which is true wealth.

Yes I am talking about high net worth individuals
But not all of them-yes I can't say this enough from my last post. If you are a billionniare, multi millionaire, millionnaire, or have 25 cents in your pocket and you overspend-you WILL be in debt and later on bankrupt. That is not the point, the point is if you have high cash flow-you can increase your spendings BUT not to the point that it overextends your cashflow. If you do wish to do that then you need to increase your cashflow futher. But your spendings must always be lesser.

Case in point,
If you want to own an EX5-you must try to increase your earnings from 1000 to 5000 a month for example.
If you decide later you want an Aprilla-you must try to increase your cashflow from 5000 to 50 000 for example.

Under the stanley and danko millionnaire you CANNOT:

Buy rolex
Go to starbucks
Eat sushi
Buy first hand cars
Buy first hand clothes
Buy gifts
Eat at posh restaurants
Go to first class trips

You must be a slave to your budget.

On the budget topic, for me it was veryyyy hard.

I started around age 14 because my mom at that time told me to keep a notepad.
In this notepad I had to write all my incoming and outgoing expenses down to the cent.

Even if it's a piece of chewing gum I had to write down. So from my teens I already wrote my balance sheet/income statement even though I didn't have a job/ my allowance was put under "income".

So yeah it's hard but it usually takes 3 to 4 weeks for a practice to become a habit based on a science study I once read which has proved true for me. So do this for 3 weeks and it will as natural as walking to you after that.

You know why those old men will not own a merc? Because they know that a car is not an asset but a liability.

I have a medium priced car <100K, yet i rather spend my money on properties/investment that generate monthly returns.

Lol if I liquidize all my investments, can buy more than a few luxury cars.... but I choose not to do so. It is my choice to make right?

Not everyone will spend money if they have it, it is usually those who have easy come easy go attitude, who have not sweat blood and tears on their hard earned money.

I would say let those who live a frugal lifestyle has it's own merits, so no need to keep advocating on splashing the/your wealth on 'things'.

Wow, a lil tough for a young guy turning 25 this year and having only worked for nearly 2 years. Any other better yardsticks for a poor chap like me?

hi guys im pretty impress by the ah kaos & unkers in kopitiam stories

bt dun uu guys think living prioritising the future while forgo things uu can do in the present is kinda sad?

life is short & we cant bring wealth to the nxt world.
wt do uu guys think?

Nope, frankly speaking, not even any on stocks yet   
I considered myself not up to Maximum 'attack' zone yet, I just work hard and smart on my current career, take any possible opportunity to learn and upgrade myself, and since then i rarely have any weekend free, i work everyday but only 8 to 5, including weekend..and i think i'd only done 50% of my capability to earn; another 50% which is yet to achieve, would be side-income on my free time at evening hours, as well as making other passive investment options like UT, stocks, property, business...etc, still searching for best opportunity, i believe i can earn up to around 5-6x of my current salary.

Btw, i believe everyone has painful life experience before, same to me..and that's why experience is so invaluable to me; I did some big mistakes after graduated and started to work, like some others, buying a big and cool car, enjoy life, clubbing, travelling, outing for nothing...just to spend money to enjoy.. for years... Fyi, i even threw my fresh cash equal to a new toyota hilux value as 50% downpayment for my first car...thinking back also heartache, what a stupid nonsense i did last time   

Until end of last year, one of my close relative needs some cash in urgent, and asking help from me..I was kinda disappointed as I cant even come out with this little cash immediately to help him; after few rounds of transferring money from different bank accounts, only then able to gather that sum and passed to him, lucky in time to settle his problem... Since then, a question triggered me to think, how if my closest family or loved ones is in same trouble one day?  what can i offer to help them?  how if it's really urgent that it comes to life matter?  I started to get serious with my financial managements, and actually 2013 is the new start cornerstone for me as I've planned series of targets for myself, so im just merely a 2months old beginner 

I can sleep well, live happily and enjoy my life if i choose to, as my salary is actually enough to cover my current needs.  But now, i rather choose to live below par, enjoy moderately, spend wisely and most importantly, to achieve financial freedom asap!  And, to enjoy precious time with my family and friends, doing my favourite jobs without any finance worries, how nice would that be...    

Just something about my past, for sharing 

so good to see different approaches and thinking. for me, i think 16 months or even 12 months is way too much. i keep about 3 months only for CRUCIAL xpenses. that means some other luxuries are NOT catered for, e.g. entertainment.

maximize the rest in investment, whether ut or property or shares...

if there is a serious need for more than 3 months then there is still sufficient time to plan.

just my views but i agree everyone will have different planning/requirements.

Hmm ...

If sole breadwinner, but monthly passive income > monthly expenses, then 1 month emergency more than enough?  Or no need to have emergency fund...