Materazzi,

In my book and as per RDPD definition, FIRE means that you can MAINTAIN your EXISTING life style indefinitely without working.

Rich?? What is YOUR DEFINITION??

As per my definition, I am RICH now.

A) I am living in the life style that I want.

B) I am doing the job that I LOVE.

C) I am saving 50+% of my gross income.

It is EASIER to be RICH.

FIRE means that you can STAY RICH indefinitely without working.

Dreamer

Hi Dreamer,

I'm 24, and i have all the A,B, and C, that you have... would i categories as RICH ?

if i intepret this correctly mean, u still gain, just that with bad decision cause u to gain lower 

can i make some assumption and is not to offend  u in anyway, but it will help me on some personal decision ? 

u must be flying high at one point of time and did u get too comfortable ? cause u been emphasizing on continous improvement ?  or your downfall is just purely coming from the recession ?

do you think with your continous improvement it would have a different result ?

thanks 

wrong place wrong time, but why need to suicide 
tis remind me a quote - Speed is irrelevant if you are going in the wrong direction. - M. Gandhi

Tigerr,

That is THE POINT..

Why should ANYONE accept someone's else POV of what is RICH??

I used to have a Billionaire boss.  He does not buy BMW and so on...  He live a reasonable life.  He drive a Lexus.

One day, my car broke down in front of the traffic light.  He saw me and jump start my car for me.

I used to work in a place where it was bought by a big company.  Hence, many people over there has 10 millions to 500 millions.  They still do their job and treat everyone as equal.  They live like anyone else.  The ONLY thing that they change is their house costs millions.

This is THE PROBLEM with most people.  They ASSUME a lot of stuff.  They REALLY have NO FIRST HAND experience of Rich People.  They talked on something that they know NOTHING about.  And, they CHOOSE not to study and research the REALITY.

This extend to almost all areas: Job Hunting, Investing and so on..

Once in a while, people come across people like me.  I am ABNORMAL.  I actually spent time and effort researching a lot of stuff that I talked about.  If I know NOTHING, I will say NOTHING or I will tell you so.  People ASSUME that I am a PRETENDER like everyone else.

Most Rich People that I know do not live a luxury life style.  It is NOT that they cannot afford to.  It is just not important to them.

Dreamer

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Added on August 22, 2011, 7:23 pm

He made a CRUCIAL MISTAKE.  He stayed in Malaysia.  A place / environment where his talent is not appreciated.  If he left Malaysia before he was 30 years old and take the Singapore job with the game software company, he will be doing very well by now.

He is an expert in 3D graphic.  But, Malaysia is NOT where you want to be for this kind of talent.
 
If you go back to my FIRST POST, one of the key ingredient is to find / go into an environment where your above average effort will be appreciated.  He recognized this TOO LATE.  So, he has to start all over again.

Dreamer

 
If you go back to my FIRST POST, one of the key ingredient is to find / go into an environment where your above average effort will be appreciated.  He recognized this TOO LATE.  So, he has to start all over again.

Dreamer

Many rich people does not live a luxury life.

A job is just to keep us alive if there is no career in it, we decide what and how to build our own career if cannot get the job we desire with the free time but a lot of people can't understand and rather go for part-time job such as MLM. The time should be spend on self improvement because it has better chance to make more money when we understand other things that yield business opportunity.

Materazzi,

In my book and as per RDPD definition, FIRE means that you can MAINTAIN your EXISTING life style indefinitely without working.

Rich?? What is YOUR DEFINITION??

As per my definition, I am RICH now.

A) I am living in the life style that I want.

B) I am doing the job that I LOVE.

C) I am saving 50+% of my gross income.

It is EASIER to be RICH.

FIRE means that you can STAY RICH indefinitely without working.

Dreamer

Materazzi,

1)  Let's get to the bottom line, what is your FIRE number?? 

A) What is the AMOUNT of money that you can sustain your EXISTING life style INDEFINITELY?? Let's call this Basic FIRE

B) What is the AMOUNT of money that you can sustain your DESIRE life style INDEFINITELY?? Let's call this Desire FIRE.

Which FIRE do you aim for??

Basic FIRE or Desire FIRE.  And, what are the numbers?? Do you know??

In my case, Basic FIRE = Desire FIRE.

<<My 1 yr salary can sustain 5 yrs without working with existing lifestyle.>>

Do you mean that in one year, you can SAVE enough money for 5 years of expenses??

I save 50+% of my gross income.  In one year, I can ONLY save for 2 years of expenses.

2) If you know and reach your FIRE number, will you AIM to be RICH?? At that time, you may REALIZE a simple fact.  You cannot buy TIME.  Life is TOO SHORT to spend on making money.  Let's say it takes 5 more years to go from FIRE to RICH, will you do it??  You are YOUNG.  You believe that you live FOREVER now.  When you are OLDER, your POV might change...

3) One of my family member passed full physical health check without problem.  2 weeks later, he fainted in the bathroom and rushed to emergency room.  They found 2 brain tumors in his brain.  He died 8 months later.

Dreamer

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Added on August 21, 2011, 9:55 pm

arielyek,

It is VERY SIMPLE.

I LOVE ENGINEERING!!

I like solving technical problem.  I do not like dealing with people.  This is ever since from childhood.
3dassets,

I thought that I had made it VERY CLEAR.  I BELIEVE my EPF money will be gone soon enough.

A) I had been investing for 20+ years.

B) My EPF money is TOO INSIGNIFICANT from my standpoint.  Whether it exists or not when I am 55 will not matter to me.

Dreamer

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Added on August 21, 2011, 10:02 pm

Materazzi,

<<U are 35 and don't have family, if u retire means failure?>>

Failure from YOUR POV aka a stranger.

Why should a person lives his / her life based on POV of some strangers??

You live YOUR LIFE and he live his life.

Your POV of success or failure is ONLY RELEVANT to YOU and no one else.

I stopped my career advancement by working from home for a few years.  To most people, I am a FAILURE.  But, for me, spending more time with my family is MORE IMPORTANT than career advancement.  Furthermore, I had made ENOUGH MONEY to reach my financial goal at the pace that I want.  I can stop my career advancement without impacting my financial future.  This is the kind of FINANCIAL FREEDOM that most people do not have.

Ditto, I move from management position to senior engineering post.  I have the FREEDOM to do this.

Dreamer

Are there books entitle "The failed attempts" or "How not to fail" only "Dare to fail"?
Inventors in the past failed many times to succeed, formula are derived and new inventors will not repeat knowing what to avoid is equally as important as how to succeed. Business people take advantage of the young & naive and repeat the cycle to keep salary low, turning natural resources into money every year, how can recession happen and where are all the monies? Go tell the rich people to spend their money because they reap profit from the average people until not enough money to circulate.

Are there books entitle "The failed attempts" or "How not to fail" only "Dare to fail"?
Inventors in the past failed many times to succeed, formula are derived and new inventors will not repeat knowing what to avoid is equally as important as how to succeed. Business people take advantage of the young & naive and repeat the cycle to keep salary low, turning natural resources into money every year, how can recession happen and where are all the monies? Go tell the rich people to spend their money because they reap profit from the average people until not enough money to circulate.

Please tell me I am dead wrong and tell us the truth about economic recession dreamer101 of the 10k club.

Tigerr, your posts don't make sense, first you say what is the meaning of being rich with all the luxurious lavish spending to justify the rich status, then you contradicted your own statement by saying how many rich people you know are stingy and live like average people. Please elaborate...

I quote examples of being rich is when the time that you can or affordable to spend larvishly without blinking an eye. But when you have reached that level of rich, that doesnt mean that you really have to do that to prove it as everybody also know you are rich and are capable of doing that.

The rich men that i know, they are quite prudent (take note, their prudent may not bear the same meaning as your prudent) in their daily life style, but when they go overseas, wow.....they can really spend money like watering their garden. And you can see faces of them when they are at home and when out station.

u seems to be enlighten and have you found a solution to your problem ? care to share ? 

My previous boss is rich and my current boss is even richer, they become rich not because they know everything but happen to make the correct move according to the condition and they don't go around telling people average are not rich and want to write a book about themselves. Are you going to condemn the gov and their policy not fair to investor like you?

Participate in forum to challenge your own state of mind

You could be successful in ANY career / business as long as you can EXCEL and ABOVE AVERAGE in that career / business.

To do that, you need 3 things:

1) Motivation -> You LOVE that area.  Then, you could INVEST the extra 10,000 hours to be VERY GOOD in that area.

2) Talent / Temperament -> You are born to be better than average people in doing this kind of stuff.

3) Environment / Industry -> You are working in a country / environment / culture / industry that appreciate YOUR STRENGTH and would not mind your weakness so much.

Do not follow the herd of cows.. Cows get slaughtered.  They just go into any hot areas that pays well.  They do not ask and care whether they could be ABOVE AVERAGE in that area.  That is what AVERAGE people do.

Find out WHAT you are.  INVEST on yourself to be VERY GOOD in the area that YOUR STRENGTH will be appreciated.

Dreamer

i agree on this 

Folks,

My point is VERY SIMPLE.

You cannot THINK and BEHAVE like average people if you want to be Rich.  And, Rich is dependent on what your own definition is.

And, one of the KEY is you AIM to excel in whatever your chosen career or business.  You are NOT aiming to be only average in your chosen career / business.

The MENTALITY and  ATTITUDE are different too.  It is PROACTIVE and ACTION oriented.  Instead of WHINING, the QUESTION is always what I "CAN DO" about this??  How can I learn?? How can I improve??

There is a FAITH of doing whatever you can to improve your chances of succeeding.

Some people believe that I post all these stuff to show off how successful that I am.  I will let you to be the judge as to whether this is true.

I am showing you ONE WAY.  It is NOT the only way.  It may or may not be suitable for you.  It may or may not be your goal in life.  But, I know this way works for quite a few people that I trained and coached across my 20+ years of career.  And, that is something I am very proud of.  Not the money, fame, glory, success that I had in my career.  But, the people that I had helped along way.  Because, in the end, that is all that matters...

I am a DREAMER.  I believe in helping people achieving THEIR DREAMS.

Dreamer