from your replies, even if i share more (which i already did), you will still blame me for not sharing more.

so.. i guess i have to agree with you.

over and out.

Bro, its Friday lah. Just joking, why so serious ? Blame you ? For what ?

From your avatar, you must be heavily into stock ? Brexit vote count right now affecting the uncertainty of the whole world's market. Chill man ! It won't be the end of the world

My current objective is working towards having at least RM20K/month from my investment portfolio. Combination of property(rental income), ASNB (combination of loan and cash), Tabung Haji.

I'm saving more than 50% of my salary. Planning to pay off housing loans as soon as possible. Targeting to achieve this in 8-9 years so that I can spend more time with family, and giving back to community.

Besides rental income, need to ensure the market price for the houses are giving same or more income (dividend) if I sold it off later and put it in the ASNB or Tabung Haji.

EPF just the bonus for me as my last contribution was on 2013. Also plus company saving scheme and company shares.

What? You talk alresdy like no talk like that.

the devil's in the details kua?
asset & sub-asset allocation, currency/country location, buffers, how much is enough lv1, 2, 3, etc
then
when kicked the bucket.. how to share without causing world war 3 OR want to control from beyond the grave via trust funds,
all with as low tax or expenses VS value?

This post has been edited by wongmunkeong: Jun 24 2016, 02:00 PM

Yes I agree, self discipline is the foundation and trying to keep up with others is a very common trap for many people.
Your goals are inspiring (especially the giving back to community part), and the savings rate of 50% is very good.

Could you elaborate on how you're planning to pay off the housing loan in 8-9 years? For example, do you consistently pay off more than the required monthly payment, or do you make multiple payments in a month etc? Also, what is your loan type (term/semi flexi/flexi) ?

If the monthly commitment rm1700;
And the rental rm1700/month ---will pay the loan
I will also pay at least the same amount on that month.

The rest of my income/saving will go to asnb/tabung haji.

Any cash incentive or shares that lapsed will also dump to pay off the housing loans..

Consistency and discipline. Hopefully I'm strong enough.

P/s: The timeline is based on current employment which My expenses are mostly covered by company.

This post has been edited by meonkutu11: Jun 24 2016, 06:48 PM

Thanks for sharing !

Is it?

Ok, let's say you save everything until you can achieve financial freedom. That's possible, but it takes time. Most people take a long, long time to do that.

The fact is, for most people, by the time they achieve financial freedom, they are too old to enjoy the things they could have enjoyed when younger. You cannot wind back the clock. I'll leave it at that, because one either understand that, or one doesn't.

There are 2 or 3 people who achieved financial freedom in the 40s or early 50s here. Can't remember their nicks, but they are in the retirement planning thread.

I have a number of my friends who retired in the 50s. And I know some who can afford to retire, but choose to continue to work. I am one of these people.

The elderly in my family mostly live beyond 70s close to 80. Some >80 years old and still healthy. Assuming the "design" of my body is similar, I still have at least 20 years, or maybe 25 years to enjoy my life if I take care of my body well

Many young people now live the YOLO life style. If they do their financial and retirement planning early instead, they could realistically achieve financial freedom in the 50s. After that, still have maybe 20-25 years to enjoy life. Plenty of time

I will also leave it at that, because one either plan early, or one doesn't. And that determines one's retirement with financial freedom a reality, or a far fetched dream.

For completeness, I will clarify my point.

I am not saying you should spend like no tomorrow. At the same time, I am saying one should not solely save for tomorrow. Somewhere in between, there is a balance.

it all boils down to how much you can earn a month, assuming nothing much to inherit from parents.

if one earns big income, it wont take long to achieve that. so first aim to get high income, 5 figures a month, then push up further.

i admit it wont be easy for one with a family with 5k or less a month...

Yes. Agree. No money for enjoyment is very difficult. But some people did it that way. Especially women

Just like to add on what lowya posted :



Note that he is talking about "income producing assets" which will generate income which pay for the expenses. It is a process, instead of a final result. One got to start somewhere and slowly accumulate the assets. As such, initial years will be harder, and it gets easier as years go by

If one starts early maybe in the early/mid 20s, when he reaches mid or late 30s, his passive income could be of sizeable amount by then. At that stage, the retirement planning will be easier and he may take stock of his financial position and decide to allocate part of the passive income for early enjoyment.

To me, nothing comes easy. The most difficult part will be to take the first step to plan, and then stick to the plan faithfully. It is easier said than done, but I have seen quite a few achieved their goal. The common character of these people is they have the required discipline and determination to put their plan into action

I agree that it is a very delicate balance. If a person maximise savings, it means he is completely depriving himself of pleasures now so that he can achieve financial freedom latest by 55. However, if he enjoys a bit now, you might think it is OK, but often, this enjoyment will cut his savings by half, and it means he will never reach financial freedom before 55 or even 65 or forever. You see, the power of compounding gets its power from maximum firepower early on in life. If those precious firepower are used up for fun, then the power of compounding is very much reduced. To enjoy now or delay gratification? It is up to you and it is often either or. You can say, you enjoy a bit, save a bit, sounds nice but unless your earning power shoot through the roof from 35 onwards, it is unlikely for u to retire comfortably by 55.

This post has been edited by aspartame: Jun 24 2016, 11:20 PM

Yes and that's why saving alone isn't enuf. Especially with sky high inflation. You need to grow you money faster than inflation eats it.

And have u worked out your NAV now? Is it still RM20mil like you claimed before?

Spot on
Can share here or pm how u accumulate RM20m NAV?

Share here la. We also waiting for his info.

But must ask him whether he knows what is NAV in the first place. Earlier post he got it completely wrong.

Haiyo, both you two old birds know he lacks the knowledge, but still want to push on

Lacking knowledge is no issue. But his arrogance is quite surprising.