senpai, what you work as?

Own business. Tech related

looks like your financial goal will be easily reached in less than 2 1/2 yrs

This economy crisis might bust out my business if I’m not careful. So it’s best for me to find multiple streams of income via dividends from stocks or rental payment from tenants.

Advisable for me to be investing in properties during times of recession to gain another stream of income? (Rental payments)

Currently I made a loss of RM20k from stocks itself. (GENM & Maybank dropped badly )
Looking to add more money into Maybank

if i were you, after reaching that RM1mil financial goal, then try think of this...

depends on which segment of the property rental market you are looking.....
will the rental demand be easy or have to wait for some time, will the rental returns be as good as before Covid19?
as you had mentioned..."This economy crisis might bust out my business if I’m not careful."

Good for you. Hope you can get new business and boom.

for your investment in bitcoin, may i know which platform you are buying from? did you store in the platform wallet or another better wallet? i am also trying to learn more about investment in these period and try to focus on crypto

Don't know whether you're still following this thread haha. You can actually park your cash in ASB2 even with 200k loan in ASB1. That's what i'm doing. 200k loan in ASB 1 and filling up ASB2 with cash. If i'm not mistaken there's limited units for ASB2 coz they only have like 10bil units in total. They might have added more. But so far I have filled up 60% in ASB2. In my opinion, you shouldn't cancel your ASB loan. You can still use your cash to invest in ASB2 and elsewhere. Just my 2 cents.

This post has been edited by afif737: Apr 27 2020, 06:45 AM

ASB1 & ASB2 max 200K capital. Dividen no problem. ASW2020, ASDidik, ASM, ASM2, ASM3 for bumi quota still have plenty. No limits... Average dividens around 5-6%.

Yes, 200k for ASB1 and 200k for ASB2. Btw I read your post with your assets etc, very impressive sir. It is true that makan gaji pun boleh jadi millionaire. Especially when you start investing early.

But the part that you said 'kerak kena kecil..Keep liability to low such as cars, rumah juta-juta please avoid', I have a slightly different mindset. I spend on things that I want/like (not only needs) but within my means. I like expensive cars so I bought a 600k car. If I list down my monthly expenses I'm pretty sure a lot of people here will cringe and think that I am stupid hahaha. But to me it is up to the individual and the most important thing is you are happy. I do have a target for retirement and I do save. I also have an emergency fund. I try to live a balance life. I save and I also spend.

If I didn't buy an expensive car and just buy clothes at kamdar, sure i'll probably have an extra 2-3million 20years down the line, but i don't know whether i'm gonna even reach that age haha. So I save for retirement and I also spend on things that I like and I'm happy. And if driving a myvi(which is not a bad car tbh) and saving as much as you can, makes you happy, I respect that. To each his own

One need to be careful of their ways/habits of spending
Unless of course when you retired, the saving/passive income able to cope with your lifestyle
Otherwise, the later half of your life will be painful

I agreed with you. Different people have different lifestyle and enjoyment. As for me, I know my capability (Tak pandai belajat, kerja seaman) and the opportunity to earn and save money only come once. Some people they spend on what they like because they know how to make money, they know their capabilities well. Many youngsters now jutawan senyap. Online business. youtubers, gamings income, etc.

As for me, I am a 44y old borned well before the I.T era. Only know word star program, c prompt and disket was big during my time as a child.

My enjoyment is when i wake up in the morning, I don't have any debts and I can work at any place that i like. And hopefully later can retired comfortably.

Congrats on your achievement. Were u guided/mentored or self learned on your career n financial planning since young?

One should also read a post in its entirety.
That's why i said 'I do have a target for retirement and I do save'.

I'm 32 years old and not tech savvy either haha. Nice to hear of your achievement sir.

opps
sorry about that
i assume you are on the way to reach your target for retirement

did not know you already have reach your target
i am sorry for the assumption
enjoy your life!

Age: 27
Nett Pay: 3,515


(Normal life before Covid-19 and soon to be back to normal life once again)
Monthly Expenses:
Food: 400-600 (Breakfast + lunch)
Phone bill: 10 (Redone Amazing 8)
Progressive Interest: 100 (Housing loan)
LRT: 100
Investment allocation: 500 (SAMY)
Entertainment: 200
-----------
1,510

Monthly savings: 2,000-2,200

ASM: 37,000
Stocks: 3,500
House down payment: 35,000 (Rumawip)
Cash in hand: 38,000 (Aiming for some stocks, waiting for a better timing)

Living with family at the moment and single. Am I doing alright at the moment? Is there anything I could improve on? Thanks in advance for responding!

No pocket money for parents? Since you are staying with them.

Other than that looks pretty good, maybe can try to increase your salary at this age.

My parent. We came from a poor family. My father was the one that guided me.

Thanks. Need to becareful too. Nowdays the world economics are not stable. Even the conglomerate and big companies can go bankrupts anytime.

One of the tips to be wealthy or senang is to give some money to your parent. Trust me, it will work. If you have less give less, if you have more, give more. As a parent, they will not ask. Just give from your heart.