Can i assume inflation rate averagely for our country is 3%?

IF today annual expenses is RM60,000 p.a. (RM5,000/mth),
and, the inflation rate is 3% p.a., assuming everything is constant,
no change on inflation, no change on life style, no any change.

After 36 years due to just 3% annual inflation, annual expenses would be at RM144,914 (RM12,076/mth).
RM50,000 x (1+0.03) ^36 = RM144,914

How am I going to sustain my life when i'm old and no longer able to work to generate income ?!

Can i assume inflation rate averagely for our country is 3%?

IF today annual expenses is RM60,000 p.a. (RM5,000/mth),
and, the inflation rate is 3% p.a., assuming everything is constant,
no change on inflation, no change on life style, no any change.

After 36 years due to just 3% annual inflation, annual expenses would be at RM144,914 (RM12,076/mth).
RM50,000 x (1+0.03) ^36 = RM144,914

How am I going to sustain my life when i'm old and no longer able to work to generate income ?!

That's why either you save like crazy or earn like crazy. When you do that. Your base build up. You have more money to invest and grow your money at faster rate.

so can you advise him how much he should save up to invest?

Min 30%.Workup your way to 50% or more.

30% of what? 50% of what? Your answer as usual is vague

What else is there to save up. Income la. :You asking save up in what. Obviously is income.

if a person like you earn RM4K, 30% of it is RM1.2k, 50% if RM2K so you 1 month also can save up already so what are you going to do with that?

Two ways
1) keep investing regardless of price
2) Hold on to cash and deploy when market drop
3) just dump it into amanah saham every month

People who does option 3 will find their wealth increases quite fast. Used to do that.

1) Investing in what? what price are you referring to?
2) deploy into what?
3) Amanah Saham 2018 dividend is 6.25% so let said you save RM2k a month for 12 months and 6.25% is Rm24K x 6.25% = RM25,500 so how long he required to save?

thanks tippman & Ramjade for inter-discuss to crystallize the ideas.

I'm starting on 3) and will continue until I shortlist and share portion of monthly into 1) as well, then until 2) happens will withdraw partial of 3) vest into 2).

So now, try EARN + SAVE like crazy.
Need to shortlist some for 1) and 2) to start and monitor, any suggestion?

Interesting on the Ramjade current portfolio and those under surveillance which return expected to be higher than 6% avg, as you mentioned 3) was "Used to do that".

thanks tippman & Ramjade for inter-discuss to crystallize the ideas.

I'm starting on 3) and will continue until I shortlist and share portion of monthly into 1) as well, then until 2) happens will withdraw partial of 3) vest into 2).

So now, try EARN + SAVE like crazy.
Need to shortlist some for 1) and 2) to start and monitor, any suggestion?

Interesting on the Ramjade current portfolio and those under surveillance which return expected to be higher than 6% avg, as you mentioned 3) was "Used to do that".

Hi guys what's your monthly expenses breakdown, and do you consider yourself a spendthrift or thrifty person

Necessities
Eating Out: RM1000 (quite high, I love eating, I pay for my GF and family quite often)
Groceries: RM100 (including non-food items)
Petrol: RM500 (At least 3000 km a month, my well maintained 2006 myvi still 13.3km/l)
Toll: RM250
Phone bill: RM78 (Digi 78)
Parking: RM50-100 (shopping malls, sometimes meet customer)
Parents: RM300 each
Siblings: RM200~ (my brother/sister come ask for help every 3 months)

Subtotal: RM2.8k

Service/insurance/maintenance
Google drive subscription: RM8
PTPTN: RM290
Health + Life insurance: RM210
Auto insurance + road tax saving: RM42 (roughly RM500 every year)
Car maintenance: RM150 (for minor service, major service, change battery, and change tyres)

Subtotal: RM700

Entertainment
Vacation: RM300 (my gf and i go on budget vacation every year)
Movie: RM30 (once a month)

Subtotal: RM330

Grand total is RM2800 + RM700 + RM330 = RM3830 per month.

I actually thought of decreasing the budget for food, but I find no reason to do that. Simply because I don't smoke, drink, gamble, game. My main source of entertainment is eating
I guess the only way to save more is to earn more.

Cool budget. Would it exceed? I mean in reality?