Don't worry if the parents has such thought process, I can confirm that the children won't be contributing much to the society.

And the 1 million also has been long spent on 200K cars and living up the lifestyle of a rich guy. The children prob wont have much left.

1&2 Seek and you shall find. Don't be lazy.

3. What to do? a degrading post deserves a degrading response.

Because your statements clearly shows your lack of knowledge in this area. Substantiated by your own statements.

Was that directed at me? HAAHAHAHA...so I must spend 1 mil on my daughter's education so that she contributes to society.

You make a statement, substantiate it. That is the basic premise of a discussion. But apparently you failed to even understand that.

So basically you have no facts and just pulling statements out of thin air?

I think its pointless to continue discussing this topic with someone as obstinate as this.

Since this have, once again, drifted away from purpose of this thread/section, i'll agree to disagree and this will be my last response to you on this issue.

Lolol haha not directed to you. I was riding on your comments because I'm allergic to stupidity and so I don't want to respond directly to MeToo.

I do believe that he also insulted you first but later in comments, framed that you resorted to personal attacks and calling him stupid - premise of a truly ignorant person.

And based on his comments of overseas studies, I don't think he has any clue (because first he hasnt been through it, and second his children are not nearing that age).

I respect your views on higher education. I just chose a different path for my daughter. Will help her if she wants it and is capable but not give her everything. I think I did mention that but not sure why suddenly other people getting their knickers in a twist and all upset that I am not putting aside millions for her education.

Oh okay...sorry about that. I thought it was directed at me. Anyways I respect your approach and I just chose mine.

My 3-year in local uni costed me a total of RM5,000 in tuition fees, and I think I'm making more than my peers that spent 6-figure in private colleges.

Kudos for getting in to local university and not making your parents pay an arm and leg for it.

No worries, you have my support on your decision - personally i find that it builds character for your child. There are definitely others who don't have the same opportunity (and vice versa there are also alot kids who do have that privilege). And it isn't up to strangers to question or criticize what is essentially just a "decision" for your children.

wow, very impressive income you have there.
you are running a business?

Yes a very small one. 2 full time, 2 part time employees

This post has been edited by cynthusc: Jul 25 2018, 10:45 PM

You have a very good business there.

Like most of my SME clients, they too have problems hiring good attitude staff or worse they can't even find anyone to work. Probably retails or skill work it's " too dirty / low pay" for the fresh grads to even consider.

For my kids education, I'll would advise them to take the PTPTN loan and invest the savings I gave them else where. Still long way to as both my kids are still very young.


I'll chip in with my income & expense for first 6 months in 2018.

Income %
Permanent 40%
Freelance 60%
Total Income 100%

Expenses %
House upkeep & renovations 21%
House loan 15%
Savings/investments 15%
Car loan 14%
Eating Out 11%
Fuel 5%
Groceries & babies stuff 5%
Insurance 5%
Maxis bills 3%
Car maintenance 3%
Apartment sinking fund 2%
Outsource accounting work 1%
Electricity & water charges 1%
Total Expenses 100%

There are work that I've completed but fees still yet to be paid it's not included in the above.

Personally, I feel PTPTN is a good loan/debt.
Lets say, even the parents are able to afford the tuition fees.
I don't see any wrong in getting full PTPTN loan.

Let me back my pov with 2 main points:
1. For 1%, lets say you get full 20 years loan.
You can put the money in any investment vehicle which can easily beat this non-compounding interest loan @ 1%!!
Yes, even FD!
2. If the kid ended up with good grades, the loan may be waived, ended up - free education!

Try sharing your expenses here?

I don't say RM20k is more than enough, but it depends on how you allocate it.
Who knows 50% of the salary went to serve housing loan liaw?

Insurance is there to cover if any medical emergency happens.

No children fund. Apply PTPTN loan.

Lost of jobs looks for new job lo. I am sure there are lots of oppurtunity available.

As a manger of MNC i thought they would offer you a better car with Company interest free loan. Hmm?

I am sure the pocket money can be saved up for rainy days if you are really determined to do it. Not all of it but a little bit in the long run will make a difference. Just like how Rosmah did it.lol

Woahhh, very very good man, looking after the ENTIRE family - top, side & bottom. But kinda GG weh. RM1k for a daughter only, if 2nd one comes.....

Any existing investment or passive income e.g. unit trust? properties?

Advise:
- Relook into your insurance, whether you're over insured or not.
- Relook into your housing loan, whether currently you're getting the best rates or not

Opportunities
- Wife got any potential to contribute to the household income? It has to come from her heart, less effective to stress her into it.
- You holding a senior position in a MNC need to network A LOT for opportunities as you're quite likely to be exposed to high leveled people as well
- Manager already, so polish up further on your leadership skill
- Learn up the flow of business & gain business logics from your job or company
- If you got no interest in business, then aim to climb higher for more salary & opportunities
- Invest in yourself to enhance your value, it increases your opportunities

From what I see here your food, personal expense of 2K for both you and your wife and utilities can be cut down drastically.
Can save about 2K there.

I get a lot of applicants but very few work out because they can't handle the work. They don't have the interest or personality. I pay slightly above market rate so no short of applicants.

Yes PTPTN is a good option. My daughter can explore that if she wants to. At the moment she is still targeting scholarships. At least a partial one where she can also work part time. So far she has saved enough to pay for her first year in a local private university. If she can get in to local university, even without a scholarship she has enough saved up coz a year of private local university is almost 100% of a 4 year local university like UM and UKM. We are also exploring US universities as she can work as well as study if she can't get a full ride.

This post has been edited by cynthusc: Jul 26 2018, 08:29 PM