Jan 2 2013, 10:54 PM
QUOTE(AAAABBBB @ Jan 2 2013, 08:37 PM)
Boss check and see whether I can retire earlier in 10yrs + time, coz need to take care of aging parents by then.
AFISH - This is my practise
1st priority go for ASN, Wawasan 2020, Sukuk, secure bond etc if can get,
2nd If do not have 1st priority, go for FD every month
3rd Plan to take a personal insurance Public Bank offer with ING - RM57 monthly accept until age 70 (RM57 fix no increment), RM200K insuried, hospitalization- RM200 a day max 90 days, ICU - RM400 a day max 30 days, ...Sifu this one ok?
4th -Go for shares during bearish time, sell during bullish time...2013 potential very bad year, potential shares will be affected.. Thinking of getting Public Bank shares as they offered high dividen return..Buy when stock price go low...ok?
5th - House - Plan to take PR1MA if can get, range between RM100K to 400K. I applied for landed double storey hse in Penang island. Let say I go for the Max RM400K. I intend to pay RM200K downpayment.. Borrow RM200K from bank..Repayment should be roughly around RM1K per month right? I rent out my current Condo at RM1300-1400, and move in new landed house. Rental should be able to cover bank installment. The extra RM300-400, I use them pay maintainance fees, etc - dunno got lots of bill one Indah water, Cantik Api, etc. PRIMA condition is must move in and stay 10 years. Ok I move in and stay 10 years. Then I sell the hse.
Current market price I check landed property double storey is RM700-800K in Penang. If PRIMA let me buy at RM400K untung already. I stay 10 yrs, due to inflation - construction bricks, cement, steel allshould increase. After 10 years, let say the hse is value at RM1.4 million, I sell it lo...Untung RM1 million, the RM400K I pay back bank. I do not think need to pay RM400K that much since I borrow RM200K only. I calculate I will only be paying bank RM400K if I pay installment every month for the next 35 years or less right.
Current condo I am staying market value - RM450K, buy cheap during economic crisis 2008. Sell this one too in 10 yrs time, maybe price at that time around RM700K, or else continue renting..
Then I move back hometown Ipoh lower standard of living, better food, take care of parents.
I calculate my total net worth - RM1 million from landed double storey + RM700K from Condo +RM25K savings per year x 10yrs = RM250K + RM50K from the balance after paying back the RM400k in 10 yrs time.
I should have roughly 2 million...Enough to retire?
Follow AFISH formula learnt from old man millionaire that put every penny into savings, either u suffer now early or suffer later when old..
Easy formula ...Let say u grad age 24yrs old. Save RM2k a month, make it easy calculation RM25K a year like me. If cannot earn that much do part time job, OT , etc to make sure u save RM2K Ok..
Your girl friend do the same ..RM2K per month RM25K per year..
I take sukuk - 100% safe as this is not investment, principle is gurantee
First year - RM50K go buy Sukuk gurantee 5% interest - RM2500
2nd year - RM50K go buy Sukuk, Now you have total RM100K, 5% interest - RM5000
3rd year - RM50K go buy Sukuk, Now you have total RM150K, 5% interest - RM7500
4th year - RM50K go buy Sukuk, Now you have total RM200K, 5% interest - RM10,000
5th year - RM50K go buy Sukuk, Now you have total RM250K, 5% interest - RM12,500
6th year - RM50K go buy Sukuk, Now you have total RM300K, 5% interest - RM15,000
Total intrest collected is RM52, 500
RM25k x 2 persons x 6 years = RM300K...Go buy property at age of 30 with the RM300K, take the interest go get married lo..RM50K more than enough ..If not enough save another year + N or else take the interest buy a car ... Cash is king ! Buy hse cash, buy car also cash !
Ask yourself and your gf this question..Do you want to be bank slave for the next 28 years? They vampire suck your bloody hard earn money...Let say u borrow RM200K, pay installment RM1K per month, 70% -RM700 is intrest and 30% - RM300 is paying principal..
I really think suffer 6 yrs and get back the 28 years of suffering is worth a lot...
Wahhh, ur very good in managing ur money, how and where to buy sukuk ? I'm 25 y.o. and edi settle down my car & ptptn and waiting for my first property to be completed, my only commitment is just personal loan roughly rm1.5k monthly, currently my investments channelled to asb, tabung haji, sspn and bank rakyat share ...can u advise how to buy sukuk ?AFISH - This is my practise
1st priority go for ASN, Wawasan 2020, Sukuk, secure bond etc if can get,
2nd If do not have 1st priority, go for FD every month
3rd Plan to take a personal insurance Public Bank offer with ING - RM57 monthly accept until age 70 (RM57 fix no increment), RM200K insuried, hospitalization- RM200 a day max 90 days, ICU - RM400 a day max 30 days, ...Sifu this one ok?
4th -Go for shares during bearish time, sell during bullish time...2013 potential very bad year, potential shares will be affected.. Thinking of getting Public Bank shares as they offered high dividen return..Buy when stock price go low...ok?
5th - House - Plan to take PR1MA if can get, range between RM100K to 400K. I applied for landed double storey hse in Penang island. Let say I go for the Max RM400K. I intend to pay RM200K downpayment.. Borrow RM200K from bank..Repayment should be roughly around RM1K per month right? I rent out my current Condo at RM1300-1400, and move in new landed house. Rental should be able to cover bank installment. The extra RM300-400, I use them pay maintainance fees, etc - dunno got lots of bill one Indah water, Cantik Api, etc. PRIMA condition is must move in and stay 10 years. Ok I move in and stay 10 years. Then I sell the hse.
Current market price I check landed property double storey is RM700-800K in Penang. If PRIMA let me buy at RM400K untung already. I stay 10 yrs, due to inflation - construction bricks, cement, steel allshould increase. After 10 years, let say the hse is value at RM1.4 million, I sell it lo...Untung RM1 million, the RM400K I pay back bank. I do not think need to pay RM400K that much since I borrow RM200K only. I calculate I will only be paying bank RM400K if I pay installment every month for the next 35 years or less right.
Current condo I am staying market value - RM450K, buy cheap during economic crisis 2008. Sell this one too in 10 yrs time, maybe price at that time around RM700K, or else continue renting..
Then I move back hometown Ipoh lower standard of living, better food, take care of parents.
I calculate my total net worth - RM1 million from landed double storey + RM700K from Condo +RM25K savings per year x 10yrs = RM250K + RM50K from the balance after paying back the RM400k in 10 yrs time.
I should have roughly 2 million...Enough to retire?
Follow AFISH formula learnt from old man millionaire that put every penny into savings, either u suffer now early or suffer later when old..
Easy formula ...Let say u grad age 24yrs old. Save RM2k a month, make it easy calculation RM25K a year like me. If cannot earn that much do part time job, OT , etc to make sure u save RM2K Ok..
Your girl friend do the same ..RM2K per month RM25K per year..
I take sukuk - 100% safe as this is not investment, principle is gurantee
First year - RM50K go buy Sukuk gurantee 5% interest - RM2500
2nd year - RM50K go buy Sukuk, Now you have total RM100K, 5% interest - RM5000
3rd year - RM50K go buy Sukuk, Now you have total RM150K, 5% interest - RM7500
4th year - RM50K go buy Sukuk, Now you have total RM200K, 5% interest - RM10,000
5th year - RM50K go buy Sukuk, Now you have total RM250K, 5% interest - RM12,500
6th year - RM50K go buy Sukuk, Now you have total RM300K, 5% interest - RM15,000
Total intrest collected is RM52, 500
RM25k x 2 persons x 6 years = RM300K...Go buy property at age of 30 with the RM300K, take the interest go get married lo..RM50K more than enough ..If not enough save another year + N or else take the interest buy a car ... Cash is king ! Buy hse cash, buy car also cash !
Ask yourself and your gf this question..Do you want to be bank slave for the next 28 years? They vampire suck your bloody hard earn money...Let say u borrow RM200K, pay installment RM1K per month, 70% -RM700 is intrest and 30% - RM300 is paying principal..
I really think suffer 6 yrs and get back the 28 years of suffering is worth a lot...
This post has been edited by anz87: Jan 2 2013, 10:55 PM
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