Saw the mh17 news. I am freaking out as I am working in airline industry.

Wish to retiring tomorrow. Can I do it?

Age 41

Asset
Epf 680k
Fd 700k
Dsl market price now 450k.zero loan
Car 130k market price. Zero loan
Klse Share/Annuity Insurance/PRS 25k

Debt
Zero.

My expenses.
Lifestyle expenses 2k pm. (food, sundry expenses, petrol, utilities etc)
Mother 1k pm.
Medical card 2k per year

Investment. I prefer low risk.

I eat healty and play badminton games 3 times a week.

I am gay male. No children no gf/bf

What should I improve?

Ty

Hi guys, just wanna ask, am i doing fine with this income and expenses flows?

I am 26 this year, found out that I have little/tight free cash flow, probably due to the high commitment on housing loan. Think of renting it out soon in order to ease my burden. Luckily, i didn't commit into car loan last time and currently driving a 7 yrs old car.

Here's my income and expenses

Net Income MYR 3,293

Housing Loan MYR 1,100
Petrol MYR 300
Lunch (during working days) MYR 200
Forced savings + Insurance MYR 450
Telco, utilities MYR 390
Laptop EPP Instalment MYR 200
Parents MYR 300
Entertainment MYR 200
Total Expenses MYR 3,140

Balance MYR 153

Am I doing fine with this kind of expenses? Appreciate the advice from expert here.

Thanks.

how much do you have in yr emergency funds? + funds for "just incase" car break down funds?

about RM20k

try following this at post # 301
https://forum.lowyat.net/topic/3004579/+300#entry69330231

yes based on below assumptions

your net spending is approx. 50k a year

your interest gain from ASB (i assume 6%) - 40.8k per year
your interest gain from FD (i assume 3.5%) - 24.5k pear year

Where did u see ASB

and LOL on the "I am a gay male"

This post has been edited by Pink Spider: Jul 18 2014, 05:33 PM

ok i need to get my eyes checked

even if 1.38 Mil in FD with 3.7% rate also just nice to cover his yearly expenses. Matter of choice i guess.

38K per annum expenses.

For ease of calculation, lets imagine your EPF and FD are lumped as one into RM1.4 million and placed in FD.
With an int rate of 3.5%, you'll get RM49K a year, which more than covers your expenses.
So if you can maintain those expenses at 38K per annum, you're set. Of course, life isnt always hunky dory..

This post has been edited by Hapeng: Jul 18 2014, 05:45 PM

Also, you must not forget to include inflation on your expenses.

Your investment income must still be ahead of your expenses for at least 40+ years.

Also, I would not recommend retiring at such an age. Maybe change to a different field of your interest to at least have some income, even though your investment income is already sufficient now. Or maybe even do some portfolio diversification, where a portion of your investments are in higher growth equities such as growth stocks.

Thank you Mr/Ms bearbear,

Look like I can retire tomorrow. Great.

Thank you.

I will retire asap.

I still have 1.4mil and the house plus the monthly balance. all this cant take care of 4% inflation?

If the retiring life not ok. I still can return to take up a slightly easy job with lesser pay.

I will never invest in equities. So sorry.

Thank you brother/sister.

This post has been edited by khan1005: Jul 18 2014, 09:19 PM

Happy retirement!

I'm still having a long way to go.

happy retirement!
you've worked hard and earned it.

yes, take up an easy going job. plant your own vege. haha

U save a lot of financial trouble for being gay. If I were to be u, I throw in rm700k into a good condominium by not taking loan. Monthly rental shall let you have 26k per annum while you still enjoy capital appreciation in long run.

This post has been edited by re_freako: Jul 19 2014, 09:35 AM

double post

This post has been edited by overruled23: Jul 19 2014, 06:25 PM

hi all,

tried to search through the term flexi-loan but unable to find a good answer. basically i have a difficulty in understanding this term even after a few readings.

i am currently applying for a home loan and have a few offers at hand but all are under "semi-flexi".

what i understand from this "semi-flexi" term is that i can reduce interest payment by depositing extra money into the loan account. but for every withdrawal i am to pay a fixed fee.

my problem is this: will it be more beneficial for me to dump money into the loan account or asb account?

Lets say
Loan amount: 500k for 30 years
Loan interest: 4.4%
ASB: 8%/year
And I have 50k of cash at hand

If i dump the cash into loan account, my interest rate will be calculated at 450k but i will not be given any dividend, afaik.

Will it be more beneficial for me to dump into my ASB with a 8% dicidend payout and once I have enough money, I will pay the home loan lump sum bit by bit.

For long term, which is better? Hope all in the know can help to make things clearer. Thanking in advance.

We are very unfortunate, born with homosexual. Family member + government + public rejecting us.

We therefore have to help ourselves. Poor, old and sick very bad for homosexsual. No children or spouse taking care of us.

Mother and father can't always taking care of us.

Realised that, majority gay standby or put aside high amount of money.

Invest in property?

Me and some gay friends think the current property price is too expensive. In particular condominium.

Add to this, many condominium stay empty and cannot lease out.

But if major property bubble and price turn 50% cheaper. We will invest 70% of our cash and lease out the unit for old age.

Thank you very much for the post.

Homo or no homo, regardless of your sexual preferences, finances are finances.