Saving 70-80% of your salary is possible if you are earning high income. I'm saving around 60% of my income. I have commitments such as car, house loansand parents. I do not skimp on my expenses.

Another DW in KL.

Juz curiosity is your income 5 digits ?

If I'm earning 10K I also can save 70%

hi PinkSpider,

Me 80% saving. becoz i dont hv car loan.

i consider all debts as liabilities in my personal balance sheet.... house loan included.

this one cannot finish pay 1 -> KIDS .

I have no loans but I pay all the bills and my 99% of my dad's pocket money

i doubt one can save 70-80 % if he earn less than 3k

very good, this investment you get return of 990% in the future.

di akhirat? But sadly I don't believe in God and Heaven

no, not necessarily di akhirat, one gains great merit in giving and caring for the parents.

If and only if the parents care for their children when the children are young .

This post has been edited by BboyDora: Feb 15 2013, 03:13 PM

Ultimately I hope that my kids need not provide for me financially when I'm old

Ya.. Cos got a big jump in salary when I switched job last year.. Before that managed to save around 40% without car loan and giving less to my parents ...

let me guess your age is 29 this year and you working in oil & gas.

Really?

Do you know that the higher the earnings, the more likely the average person will spend EVEN more!
The savers are actually the ones are average income or below.

IMO, it doesn't matter how much you earn.. if one can save 20% or higher.. that's person is going to do well during retirement years.

Interesting.. you and your dad have reverse roles. Does he not have his own job or retirement income?

He's retired and has exhausted his EPF and savings

FYI, my personal spending pattern (but has taken up the responsibility of paying household bills and buying all the groceries ) has not changed for the past few years while my income has risen during the same period.

This post has been edited by Pink Spider: Feb 15 2013, 10:37 PM

no inflation ?- what you past few year stuff you bought or bill payed still same price ...
past few year same place and same fried rice i eat hv increase to rm1.

Of course there will be a bit inflation! By "my spending pattern has not changed", I meant that I'm still eating more or less the same food, at the same places