Wong Sifu,

i read with great interest & i applaud you for sharing your insight & knowledge with the rest of "ignorant" people like me here. I wonder if you could drop few pointers on my situation.
I’m 34 years old, engineering line. 
Drawing  MYR12.5 gross, net ~9k.
After minus all expenditure/insurance/loan etc -  left around 1k for saving.
Asset (cash/stock/FD) ~ 50k. I’m planning to get married early next year, so bye2 to another 10k or so.
I sold my house in JB ( bad decision) & lost money. Supporting siblings financial, parents & even my ex-gf’s hence not much saving ( yes, I’m very generous hehe)
I have 4 insurance policy
Insurance 1 – MYR200 per mth/ 20 yrs (maturity 2018)
Insurance 2 – MYR200 per mth/ (maturity 2018)
Insurance 3 -  MYR100 per mth/ (maturity 2018)
I foresee a return of MYR200k upon maturity in 2018.
All 3 insurance policy above from MICS, supporting my best friend when she was agent back then!
She left some time ago, I have no idea if MCIS will still entertain me if I would like to check the value & possible gain upon maturity of those policies.
But in a way its good cause I don’t really have discipline to save.
Insurance 4 – SGD100 per month / 10 years (maturity 2014), conservative estimation can get MYR50k with 2.5x exchange rate. 
Saving per month not much cause a lot responsibilities, supporting parents, wife to be & lifestyle.
EPF ~ 100k, just started working in Malaysia for the past 3 yrs. All this while in SG no CPF
Credit card debts – 5-6k
Btw, I’m planning to marry my Muslim GF hence I would be eligible to invest in ASB.
I do not know if I should take loan to invest in ASB, I read some said not worth it while some said go for it.
What would be your advice to me on how i could further maximize my gain for future?
many thanks

you already have more than 20K at 24?

I dont even have 5K that time... haha

3rd Plan to take a personal insurance Public Bank offer with ING - RM57 monthly accept until age 70 (RM57 fix no increment), RM200K insured, hospitalization- RM200 a day max 90 days, ICU - RM400 a day max 30 days, ...Sifu this one ok?

They call my hp and explain that plan from Public Bank and ING insurance plan. I forgot the name, but they say can check at Public bank website

Can call Toll Free Number at 1-800-22-9999 to find out more!

http://www.pbebank.com/en/en_content/perso...ance/index.html

Food maybe can but RM 100 impossible ah. My lunch 1 meat 1 veggie already RM5.

Transport is fixed already. I travel by bus and MRT, not in KL. Hehe..

I like this

How to Live Cheaply
http://www.wikihow.com/Live-Cheaply

How to Retire in Your 30s
http://www.wikihow.com/Retire-in-Your-30s

How to Calculate How Much Money You Need to Retire
http://www.wikihow.com/Calculate-How-Much-...-Need-to-Retire

Yes thanks for proving my point. It is a freedom of choice.

You too will be rich someday if you continue having this attitude.

Yes, out of sight out of mind. I actually have told people before on some trips I have made about people below 30 making a fortune and some people have even outright called me a liar to my face.

It's sad that for them, this reality does not exist. It is like telling someone you know of a person who can fly. They cannot comprehend how a 20 something year old can be a millionaire without being:

i-born in a rich family
ii-winning a lottery
iii-selling drugs illegally and exempting tax
iv-or any other silly excuse

However, when you find that "group" and you mix with them your reality starts to change. This is my reality, and nothing people say or do can change it. That is why I am at peace now when people call me a liar or a spoiled child. Doesn't change anything.

are you sure bro? most of people graduates at 21. There's no way he/she can gain his wealth that fast unless he started at a very young age. please enlighten me.

i do not agree. A birth cert in M'sia with the word bumi can buy up to max RM400K ASB with a return higher than 7%

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 ????

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?

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.

Brother,

Buying a first house for fresh graduate is consider a wise choice, since house is consider an asset , and you need some roof for yrs living. Try to get a house that you can affort comfortably to pay the instalment every month. The property market was at the peak at the moment, dun be too rush to get a property, try to walk in to more house launching and familiar with what type of property offer in the market, see the real shown house and etc. When they is an opportunity arise, just grab it.

For fresh graduate, buying a new car cost almost double yrs annual income is not a wise choice, you end up burden with the car instalment and please remember never to take loan > 5 year. For my experinces  owning a few local car at the initial age, the experiences told me Proton car althrough buy in cheap, but the resale value also drop like hell after 5 year, the more important aspect  like safety features was missing in lower end local car. Another aspect you need to consider is proton car tend to give you bad NVH after 2-3 year ownnership. If you want new and shining car at initial 1-2 years, Proton is yrs choice.

Since you are working on Island, and yrs family in Ipoh, and the distance i can say is not that far away. The better option is to buy a Japanese used car like T , H or N, car age allow 5-6 year, the car price have dropped almost haft the value, the cost between 45-55k, more important is the car depreciation will be lower, low spare part cost, easy to maintenance, less insurance cost, less worry on theive issue and much better car insulation and NVH, even after 10 year of ownership. This range of car used to be equiped with safety feasture like ABS, airbag, VSC, BA etc.  For personal matter, owning a Japanese used car , not look poor for me.

Hope this help.

I still have my old bike, almost 20yrs already. Dont know what to do with it as very seldom use now.

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!

Net worth? EPF balances kira tak?

If tak kira, I'm far off
If kira, I think I got it

Anyone here using any Financial software to keep track your incomes and expenses ?

To be financially free must do something, no point talking and doing noting.

I know is hard but something must be sacrificed with time and luxury.

Like wise; must have discpline saving and cut unnecessariy spending. Im also salary-earner (RM60,000 per annum) age 31, no car, no airasia, no ipad, no fancy hanphone, no fancy haircut, no fancy old town , non-smoker, no clubbing, no broadband, no laptop, no pet but got 1 wife.
I can save, so can YOU.Happily save together.

Nope my dad sell soyacincau hawker..Make he is like Ah Kau selling newspaper..diversify his business and make it lo...

I also scratch head till bald thinking how my dad a hawker can make it..He the other day offer me RM3K salary help him sell soyacincau in a van, work 6 days a week, 10 hours a day..

i bought apartment penang for RM230k in 2008, now worth 500k ...Not bad..