Bro... er..
U really looking to achieve your goals or?

Quite a few folks pointed out yr groceries & makan is high + your rental, yet you're creating excuses/defending.
Note - my personal makan PLUS family groceries is about $600-$800/mth MAX AND i'm a family man + dog!
U leh?

No right / wrong - your right to eat $800 or more per month. But don't kid yourself on your priorities lor - want to increase savings
Just a thought yar

This post has been edited by wongmunkeong: Mar 6 2013, 06:46 PM

If U keep going like that AND keep climbing career / making more $, U'd be a millionaire easily in your 30s.

Married EVEN MORE TURBO to hit multi-millionaire
Trust me - a responsible person will be even more responsible and step up when living their lives for others (wife, child & other greater causes)
Just make sure it's the RIGHT partner else... nothing can help U

This post has been edited by wongmunkeong: Mar 6 2013, 07:26 PM

Another "cheat" for A/C1 = CIMBC25, CIMBA40 and other foreign ETFs via "self-directed" investments

EPF A/C2 with a Flexi Mortgage lor

Monthly withdrawals - can, coz it doesn't even reach your financier, it goes into your "local bank account".
Once there, can put into flexi mortgage to "sit as capital repayment until taken out", thus saving/making the %

Yearly withdrawals - technically cannot coz it goes straight to your financier.
well, heard stories lar but unsure executable or not.

Just a thought

FYI - monthly withdrawals were specifically made to enable members to withdraw and paydown OR...
coz it was during the 2008 crises where i think the Gov wanted to stimulate personal spending, thus i guess the "obvious leeway" was built-in.
Of course, personally i'd rather $pend it on investments / appreciating assets than a Galaxy Note 2 lar

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

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

Extras are for financial freedom AND giving back gua

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

Kenji-san, anoneh - never say never (for shares/stocks).
Try ETFs - they are baskets of stocks, thus similar concept to Mutual Funds BUT liquidity as per stocks (ie. via bids vs offers) and listed as per stocks.
local listed ETFs = CIMC25 for China largest 25 cap stocks, CIMBA40 for ASEAN 40 largest cap stock (methinks), etc.
plenty others in SGX and NYSE (but U need larger capital to hit "Economic Order Quantity")

ETFs have lower cost of purchase (sales charges VS brokerage & stamping) & holding (yearly mgt fees and stuff)
HOWEVER, not as liquid as Mutual Funds where Fund Houses buys back at NAV (ETFs sold off via bid vs offers as per stocks, thus if no meeting of price....)
+ need to save up to about $2.8K before worthwhile executing a buy (local stocks's EOQ cost, approximately 0.42% to 0.5% of value)

Just a thought

eh? Jupiter has no more minimum $X or 0.XX% whichever higher now?
or just for special time-period or must hit certain amount of trades?
Interesting neh time to go checkout my old Juniper a/c hehe

This post has been edited by wongmunkeong: Mar 12 2013, 09:44 PM

Gomenasai - i thought stocks was a prob bcoz of the "individual company's data" that U may have access to,
unlike ETFs which are literally "basket cases of stocks", similar to UTs,
thereby bypassing that donkey ruling

Interesting, thanks for sharing on the auditor's need to report their own shares held, even ETFs
<plans to discourage my children from being in such stifling positions are a brewing >

This post has been edited by wongmunkeong: Mar 13 2013, 07:30 AM

Aiya Pink, methinks "haiwada" is trying to generate income for the "class" lar.
A few buddies & even my sis went for it and... heheh from the information i gathered,
they teach LEVERAGE as a friend while maybe not exposing too much details on the possible pains of leverage.

For the gung-ho, can even go for high personal D/E, as long as income/debt is worthwhile.
Me - i'm a bit of a chicken, max personal D/E allowable is 0.6 coz saw spectacular blow-ups before (several times)

IMHO - just from common-sense perspective:

Old Chinese saying "People compare people, compare until die" ("Keeping up with the Joneses" in YingGlish)
Perhaps the more useful view should be "where/how i can improve my lot" and, more importantly WHY.
Reasons:
a. Logically, it is nigh improbable (not impossible, just highly unlikely) to jump from a "govt servant parents" to multi-billionaire without sacrificing something.
Are we willing to sacrifice?
Coz there's no such thing as "something for nothing" - even taking into account cows & apartments + other similar stuff (payback & karma's a biatch )

b. Thus, if we know the WHYs we want to achieve specific financial goals,
we have conviction to sacrifice certain things to achieve these financial goals
AND most importantly, are willing to live with the related consequences if any (good/bad)

BTW, keep in mind that "what U see", may not be "what is".
eg.
in the latest Personal Money magazine (April 2013 issue),
U'd notice 2 specialists doctors earning a combined income of $366K+ pa
BUT
1. in debt (not too smart type of debt although for a good reason)
2. saves less than $20K pa combined
3. net worth $1.3M+ including their cars!

To keep things in perspective, they've a 17 yr old son - thus, they aint no spring chicken anymore (my guess mid to late 30s at youngest, more probably 40s)
"Looks good" externally to folks but when diving into details - looks shaky right?
We're talking about take home pay of $366K+ pa wor (that's a huge mountain to me lar, maybe not to U)
VS
savings rate of less than $20K pa (excluding EPF) and a combined net worth of $1.3M+ "only" at such earning capacity & age

er.. why am i amazed?
Look @ some fellow members postings' - U'd see salaried employees making less than $10K net pm but saving at least $2K+ pm.

Just a thought

ah.. young padiwan, methinks there is mix up between "comfortable / having choices" VS "happy" in the examples above.
Happy IMHO can be achieved without severe indulgence - like playing with my puppy/dog or playing with my children & seeing them grow smarter/stronger/better.

me - father to a young girl.
my wish for her in this context (boy-girl)?
to be MORE THAN able to take care of herself
BEFORE getting into a serious relationship

reason?
unhappy & incapable woman + unhappy & incapable man = die of implosion/explosion/blames/etc. (like 2 wrongs dont make a right)
happy & capable woman + unhappy & incapable man = shouldn't happen unless woman likes to take care of strays. never mind, still ok neh
happy & capable woman + happy & capable man = superb partnership & win-win situation
happy & capable woman + no man = still a happy & capable woman that can help herself & contribute to world mar

just a low-brow's thoughts

PS: Capable in my context is "able to take care of oneself", not multi-billionaire.
Multi-billionaire with multi-billion "extra-women" = wife koyak mar

This post has been edited by wongmunkeong: Apr 3 2013, 05:46 PM

dear - cart before horse neh?

gal shd be looking for
good guy, then rich if possible neh
OR
rich guy, then good guy if possible?

Same kaka for us guys
we want HOT first, then good woman if possible?
OR
good woman first, then HOT if possible?
Lots of folks got into trouble with the former leh

all else being equal, sure lar want rich/hot lar
BUT look in mirror - what can U give in return VS other women/men?

a great or screwed-up life partner can greatly enhance or nuke one's personal finance leh
One of the few MAJOR impacts on personal finance

This post has been edited by wongmunkeong: Apr 4 2013, 03:00 PM

IF U only have $400 to yr name as emergency funds... (unless U share the same reality as ahjib kor $500 can use for 1 year)
AND if yr Fixed Income assets category % is just that $400
i'd think U just tried to commit "hara-kiri" (suicide) OR is not investing but trading dangerously (ie. improper position sizing / risk of ruin)

In fact, seeing U question AFTER "throwing all you assets...", i think the above is true.
I do hope i'm mistaken

Just "IF" yar

This post has been edited by wongmunkeong: Apr 5 2013, 09:39 AM