RM30k isn’t enough for that kinda lifestyle, even RM100k/month is a bit tight.

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But I don't want u guys to misunderstood as if I have saved millions to retire upon....

Thirdly he lost his mental sharpness as a result of the above. he was very successful when he was young and had accumulated alot of assets.

Honestly don’t say as early retirement....say semi retirement....

For someone still below 50-60 years old..able body and mind.....trust me you will be damn bored on nothing to do....

Today I was wandering around with no aim and waste my time in cyber cafes....

Also Early Financial Independence is depend on your personal life expectation....I used to have a share partner and also part of the BOD...ex GM of very big public listed company...very gangster notorious style...used to earn rm25-35k a month....but at 60 once contract ended he say still have to work and find project...can’t afford to really retire....

Bcoz he have a very big appetite for luxury....he got like half to a dozen of those expensive Harley’s, BMW’s, etc big2 bikes...he drive an expensive cars ....I can feel even if he’s earning 20-30k a month still won’t be enough due to his kind of lifestyle....also a lot of expensive property that monthly still need to top up as the rental can’t cover the monthly cost.... but he resign and sold his shares already due to some fight with other BOD....

If u lead a simple life and don’t overcommit u can go semi - retirement/FI much earlier.

I’ll try to limit having only 1 child for now....

Hi Sifus, just wanna ask is it possible for me to achieve FI at my 40, aim for passive income of 4k. Currently I'm 29 years old, have 110k in FD, 40k in stocks and 21k in mutual fund etc. I'm able to save 4k per month after deducting my commitment and expenses. Any advice if I'm invest my monthly saving into high dividend stocks? Seem impossible to achieve my target in my age 40 right?

Hi Sifus, just wanna ask is it possible for me to achieve FI at my 40, aim for passive income of 4k. Currently I'm 29 years old, have 110k in FD, 40k in stocks and 21k in mutual fund etc. I'm able to save 4k per month after deducting my commitment and expenses. Any advice if I'm invest my monthly saving into high dividend stocks? Seem impossible to achieve my target in my age 40 right?

how many can afford to have passive income solely by relying on FD to built its next eggs or provides enough passive income for retirement?

how many can afford to have passive income solely by relying on FD to built its next eggs or provides enough passive income for retirement?

I knew someone who had 10mil in fd when he passed away at aged of 49. His wife and next of kins were living solely on fd interests and rental incomes for the next 16 years and counting.

I knew someone who had 10mil in fd when he passed away at aged of 49. His wife and next of kins were living solely on fd interests and rental incomes for the next 16 years and counting.

that is why my question started with....."how many can afford....."

btw, that person whom you knew as how many millions in investment vehicles?
wow 10 millions in FD.....

Any property that generates passive income?

4k/month translates to RM 1.6M in FD (assuming 3% p.a.). Need to strategize to make your cash/assets worth RM1.6M in 11 years. Seems possible, but need to invest more to generate better returns, and combine with dividends from stocks maybe.

And by the way, for discussions with FD interest, we should be bear in mind that future FD rates just will not be at 3%, it is getting lower, let alone BNM is expected to further lower 25 points by Dec 2019. So when calculating for interest from FD in future, I will tend to be more conservative.

Any property that generates passive income?

4k/month translates to RM 1.6M in FD (assuming 3% p.a.). Need to strategize to make your cash/assets worth RM1.6M in 11 years. Seems possible, but need to invest more to generate better returns, and combine with dividends from stocks maybe.

And by the way, for discussions with FD interest, we should be bear in mind that future FD rates just will not be at 3%, it is getting lower, let alone BNM is expected to further lower 25 points by Dec 2019. So when calculating for interest from FD in future, I will tend to be more conservative.

Assuming 4% inflation and 7% investment return, you should get c. RM1.2 mil by 40 yo, but that can only last you until c. 60 yo before you dried up you money.
Keep working until 45 yo then then you can extend that to 77 yo.

But mind you, 7% consistent investment return is not easy, and you need to factor in extra for medical expenses when you are old. Medical cost goes up for way more than 4% per annum.

All, there are active communities in oversea that working on FI/RE by hard saving, investing and living below our means.
For sure there are also FI or already RE people in here.

Appreciate to share your experience; Pre-FI/RE and Post-FI/RE life.

Thanks

#I’m working towards FI/RE and currently saving/invest 50-60% of my monthly salary. (On top of this around 20-25% spent for commitment like ASB loans and properties).
I like to hear sharing from all who working towards FI/RE so we can learn in term of planning, lifestyle, achievement, obstacles and etc.

-Update-

FI/FF is the priority that we need to work on - planning, executions, monitoring and improvement

RE - Decision is yours once achieved FI/FF

______

Actually chucking in FD is very good..
Less troublesome.. confirm get interest.. pidm protected..

I saw a lot of my fren doing alot of investment..
Some made it.. but most busted it.. especially property..

Not only not making money, every mth is negative cash flow and lots of maintenance fee. Rental cant cover..

Those in Unit trust all see unit price dwindling 20% below..

FD one all happy and no stress

Of cuz there r those who made it too.
They put money into their business and grow it.. hands on with it.
Some punted / investee in stock.. and get double / triple..

But how many percent can be in that category? Not much ooo...