May 12 2014, 01:30 PM
QUOTE(sonicbull @ May 12 2014, 11:32 AM)
I agree to save 50% of your income. Anything more, will probably downgrade our lifestyle quality BUT
if someone plans to retire early, saving >50% is required. How much we earn monthly is a huge factor as well, earn more + save more = win
from what I can see in generation X in their retirement age, RM300k is a lot for them
Tell them about inflation and medical costs and they dont even care.. die then die lor like that
btw, i save around 25-30% of my monthly income and the amount it's not enough
single
no car loan
monthly expenses:
+insurance
+unifi
+phone installment(thanks god, going to end soon)
+PTPTN
+food & groceries
+ mom & dad allowance
yearly expenses:
car road tax & insurance
car maintenance
In my case saving 50% of income is a bit crazy considering i already lost almost 30% to tax and epf combined. I know the epf money is mine but then again it does not contribute in paying up my monthly commitnent (except for housing loan).if someone plans to retire early, saving >50% is required. How much we earn monthly is a huge factor as well, earn more + save more = win
from what I can see in generation X in their retirement age, RM300k is a lot for them
Tell them about inflation and medical costs and they dont even care.. die then die lor like that
btw, i save around 25-30% of my monthly income and the amount it's not enough
single
no car loan
monthly expenses:
+insurance
+unifi
+phone installment(thanks god, going to end soon)
+PTPTN
+food & groceries
+ mom & dad allowance
yearly expenses:
car road tax & insurance
car maintenance
To save 50% of net should not be a problem though.
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