No emergency funds for 2 years
+$50K of credit card debts (at what, 18%pa to 20%+pa effective rate charges?)

VS

how much cash flow is that investment going to bring in again?
cash flow positive investment (after minusing mortgage. monthly fees, yearly fees, insurances, etc)?
for sure?
rental worse case scenario = ?

from the above VS - imho, if the rental isn't going to beat 18%pa by DOUBLE, i won't risk it.
reason: capital appreciation is HOPE, rental is more real for cash flow
AND i've no emergency fund if kaka happens to me, family or investments + interest on credit card still running
+ if kaka happens and i tap credit cards.. LAGI big hole
Just me lar - chicken little heheh

Wong Sifu,
Cannot be chicken in life leh... to win we must take risk... more risk more enterprising... more enterprising more successful... more successful more rich la.

I invest in gold... gold price go up or down, I make money... the secret is I pusing pusing the gold, I pajak and buy more, gold price go down, cheaper price and I get more grams, pajak again, and buy more. I started with only a few grams, now have many, many grams.

I invest in mutual funds... price go or down, I make money... the secret is I buy one fund and sell after distribution, buy another fund with cheaper NAV and sell after distribution to get more units. I started with several thousands units, now the units more than double and triple.

I invest in condo... I only put 20k as down-payment last year, now I have a condo valued at 800k. And that 20k down-payment, I only have 3k cash at that time. Yet I turned 3k into 800k.

What you talking.... you must be smart to take more risk when young lah. Then more successful and rich...

IMHO - taking risk is ok if it's statistically smart.
Think insurances / actuarial science and casinos - the probabilities should be tilted to my side before i take the opportunity .
Not about age - age doesn't make one invincible VS devastation even if young enough.

Anyhow, me small fish only lar - no $ to go after condos, gold in kgs and stuff.

This post has been edited by wongmunkeong: Jun 24 2014, 06:32 PM

Hi all,

Not sure if I am the right place to seek for guidance.

Anyways, I am currently a full time employee in the [undisclosed] profession.

I intend to build up my income on paper by additional RM2,000+- / month (at least for the 1st year) by setting up an enterprise. The nature of business would be provision of business consulting services.

As my real income i.e. salary increases annually, I will also increase the revenue of my enterprise gradually. This will show some kind of growth in my so called "business".

Let's just say the purpose is to build a strong personal financial record for my future business, investments which may require financing from the banks or purchase of own property.

Any advice for and against such move?
Any major tax impact if I were to do so?
Any legal consequences / risks to consider?

Appreciate and many thanks in advance.

"Fools rush in where angels fear to tread."

Let's tell some truths before someone take everything in - hook, line and sinker.

Me and you know you can afford the gold and condos if you want to. And that the ways of creating excellent returns in my previous post was a joke.

What really puzzles me is this thread, version 4 and more than 200 replies... is there any replies with substance or are they mostly empty chit chat?

I meant how much is there to "Personal Financial Management" that one thinks his or her situation is so unique that he/she cannot find a answer from all the previous posts. Afterall, the situations are generally described... which beg general replies.

nice sharing...the only investment i havent go in is GOLD.

Maybe next time you buy GOLD- might share to us.

I also dunnow which the best price GOLD is down can go in and can made money.

Gold dummies

This post has been edited by felixmask: Jun 25 2014, 01:12 PM

heheh - a lot of folks in MY has less than average comprehension of sarcasm & even simple English (read a few post back until i discovered it's a kukaracha persona non-grata to be ignored for easy example).
thus, what more logic & maths on something emotional - one's financials & future
like most people, like fruits heheh, some mature faster than others, some "gets it" faster than others.
of course, there are always "special" folks thinking they are the only one with those problems and options - wouldn't it be great if these "specials" find other ways than:
1. spend less than one earns
2. save some for emergency, invest some to grow
3. keep learning
4. rinse & repeat

eh, but i'm serious leh.
i tried greedy when ppl greedy
i tried greedy when ppl fear - dang cow hard to stay calm (until i found the beauty of emergency funds - told U i'm average / slow)
thus now no give a flying fish when others greedy or fear - as long as it's statistically logical to me, "banzai!"
and i write down the "why i did it" nowadays for each investment or trade, forcing each transaction to be clear on why it's logical & acceptable enough to myself.

and ar.. really lar - kgs of gold & condos no $ lar, can't "afford" to re-allocate now when i'm getting into the balance of investing vs trading

aiyo.. rambling after lunch & gaming with my little one - sorry yar, joinging the ranks of the old folks

This post has been edited by wongmunkeong: Jun 25 2014, 02:00 PM

2 different emoticons because I don't know how to respond... whether you had swallowed the joke or pulling my leg!

I can give you the whole thing on gold... this is not the right thread... ask me in my favourite thread and will tell you more.

Better to hear your long rambling when it has a tiny fraction of substance than reading short but no substance posts that were a waste of time... oh hell, I got lots of time to waste.. just got some agents all rile up and defensive in a post! LOL.

And in case people think there was no substance in Wong Sifu's post, read his post again... one of his advice was 'if you know you are on the correct path, don't be afraid to follow through'.

This post has been edited by j.passing.by: Jun 25 2014, 04:15 PM

Firstly, I'm older than you in the forum, and I'm sure in absolute term as well. So between you and me, you're the newcomer.

Second, I don't disagree with the clarifications; it juat depends on which side of lens you see through, so you should take it as a lesson too.

Keep learning.

Start by having the right mindset, and not goals. Else you'll be fixated at that and lose the sight of the big picture. Businesses fail within 2 years, passion is a must. So focus on the tools, not the final product.

Alright we are on the same boat then. welcome...

Don't conveniently leave out the whole context. Grow Up bro. We can all learn here.

Your fight is not with me. No need to compare epeen size here. The others n myself have shared our views.

Stick with the topic.

Any further aggression will not be tolerated.

There is, and was no aggression. You disgressed when you wanted to and then threatened with intolerance when others do the same. At the same time wanting to be technical on the definition. I'm doing the exact same things. Are we not open to personal views here, or hypocrisy runs one way here? Anyway back in the days if we're really comparing epeen we'd settle it over a fight and then finish it with a cup of coffee. Not that I'm suggesting that but there's no hard feelings on my side here. My olive branch to you or anyone if the message came out wrong. 🌱

Guys lets keep it down. We are all grown ups here, some older than the others but there must be a certain level of civility and respect that can be given to each other.

Regardless, I just talked a client today who complained that her car was not sold off by the dealer. Instead the dealer actually allowed a "buyer" to "sambung bayar" the car. Recently the car got into an accident and my client was surprised to know that her car was not actually sold.

Told her to make a police report. I wasn't part of the deal for her to sell the car, I only knew of it since I took care of her property loan application, but I should have given her a stern warning when I saw that the "redemption letter" seemed out of order. A fair warning to all, don't trust the dealers. Make sure you get your car loan fully settled when you sell of the car.

Can she make a police report against the car dealer?

She very well could, but I am not sure what good it could do to her:

1. CCRIS records (the new "owner" a bad paymaster)
2. Insurance claim records (insurance still under her name)
3. And now she has an accident record against her and her car that she has to settle

Quite a mess right there.

To Bankers,

I'm looking for personal loan up to 30k. Please PM your bank offer. TQ

Hi, already PM you some info. TQ

Anyone who would like to apply for personal financing or just ask for advise from direct banker, can PM me for further info. TQ