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 FI/RE - Financial Independence / Retire Early, Share your experience

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LNYC
post May 19 2020, 11:26 AM

On my way
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520 posts

Joined: Jul 2015


QUOTE(mmwe @ Jan 17 2020, 11:26 PM)
Retired at 42 but could have done it at 39.  Practised FIRE without knowing it. 

Would sum it up to
- hard work which is worked like 10 hours a day
- saved 70% of my income which means up to 34 only 2 foreign holidays
- invested my money wisely
- high salaried stressful sales job
- lots of luck

I'm thinking of starting a blog on this do you think you guys would be interested in
this type of blog?

Thanks.
*
I am interested notworthy.gif please and thank you
Agent 592
post May 19 2020, 01:54 PM

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Joined: Dec 2012
From: Ampang


QUOTE(garlicpesto @ May 12 2020, 01:04 PM)
Hello everyone, glad to have stumbled upon this topic on a local level.

A quick self intro - I'm very much into the whole movement.

Im possibly one of the most frugal millennials out there due family influence. I got passed material things at a very young age, Chatime > others because cheap, took advantage of reselling fashion sneakers to peers (great times), absolutely loathe starbucks, and don't-order-drinks when makan outside type. Back in college , some would put a label on me and mock me for being stingy but many others (friends and partners) were also understanding enough that we are from different family backgrounds. Im still close with a handful of them and now that I have my own income, I would "belanja" them on the rare occasions since they've stuck with me since day 1.

As of late, I've just started on my career. I was lucky enough to land a short gig in SG, thus giving me a small boost in capital to invest in the long run.

By the end of my SG stint, I would bring home about RM1XX,XXX in savings and was thinking of:
1) Capitalizing on RumaWIP/PR1MA in prime locations as collecting rental. I'm totally fine with staying with family and commuting via LRT/Family car
2) Was thinking of stocks but am extremely unfamiliar with it. However I have a US & SG bank account set up if that helps with saving on fees. I hear alot of talk about SG REITs as of late?
3) Also considering letting my mom have a go at my capital. She's a casual 'telegram' trader where she follow leads and take margins by the daily. I'm not very comfortable with that as more preference to blue chips where I can just stash it and forget for the next 5-10 years, but she's been bragging to me about her winnings here and there lah hence the temptation.

I don't have much apart from that. I am heavily researching into this topic as I know the younger we start the better. I'd like to hear how some of you seasoned sifu/sisters would do it based on your experience. If you were in your mid 20's in today's environment and had some capital to roll with, whats your move? biggrin.gif

Thanks for reading.
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It is illegal to rent out RumaWIP and PR1MA, the control may not be too strict, but I believe it is better to leave this opportunity to those in need of housing.
victorian
post May 19 2020, 01:58 PM

Look at all my stars!!!
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5,596 posts

Joined: Apr 2011
From: Kuala Lumpur



QUOTE(Agent 592 @ May 19 2020, 01:54 PM)
It is illegal to rent out RumaWIP and PR1MA, the control may not be too strict, but I believe it is better to leave this opportunity to those in need of housing.
*
For RUMAWIP it is ok to rent, but only to Malaysian
mmweric
post May 27 2020, 02:01 PM

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Joined: Jan 2020
QUOTE(LNYC @ May 19 2020, 11:26 AM)
I am interested notworthy.gif  please and thank you
*
Will most probably be starting it at the beginning of next year as a bit busy with some personal hobbies at the moment. Will keep you updated.
mmweric
post May 27 2020, 02:15 PM

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Junior Member
156 posts

Joined: Jan 2020
It would be really nice to know how us Malaysian financial goals change by age and life stage. It would be really nice and appreciated if you participate. I will summarize the data every time 10 people participate

Question a. Gender
1. Male
2. Female

Question b. What are your financial goals
1. Buy a car
2. Budget for a wedding
3. Buy a house
4. Plan and budget for retirement
5. Plan and budget for child expenses
6. Plan and budget for a child's further education
7. Plan and budget to start a business
8. Others (please elaborate)

Question c. What is your age group
1. Below 25
2. 25-30
2. 36-40
3. 41-45
4. 46-50
5. Above 50

Question d. Life stage
1. Single/Divorced with no dependents
2. Married without kids and don't plan to have kids
3. Married with kids
4. Married and planning to have kids

Answer can be like
a. 2 b. 3,5,6,8 (take care of my parents) c. 4 d. 2


Thanks.

This post has been edited by mmweric: May 28 2020, 01:01 PM
speedfamgirl
post May 28 2020, 09:11 AM

Not afraid of #138
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Senior Member
1,900 posts

Joined: Apr 2007
From: Mental Asylum
OK, here goes nothing...my answer in bold
QUOTE(mmweric @ May 27 2020, 02:15 PM)
It would be really nice to know how us Malaysian financial goals change by age and life stage.  It would be really nice and appreciated if you participate. I will summarize the data every time 10 people participate

Question a.  Gender
1.  Male
2.  Female

Question b.  What are your financial goals
1.  Buy a car
2.  Budget for a wedding
3.  Buy a house
4.  Plan and budget for retirement
5.  Plan and budget for child expenses
6.  Plan and budget for a child's further education
7.  Plan and budget to start a business
8.  FIRE by 40 - that depends if i eventually have the guts to quit/retire by 40, but initial number of FI must be achieved ASAP. Because once i have the FU money, i couldn't care less if i lose my job at all. While most of the replies in here aimed for FatFIRE, im more of coastFIRE/borderline LeanFIRE mode. The reason im still working now is for society's sake (paying taxes as khidmat masyarakat).

Question c. What is your age group
1.  Below 25
2.  25-30
2.  36-40
3.  41-45
4.  46-50
5.  Above 50

Question d. Life stage
1.  Single
2.  Married without kids and don't plan to have kids
3.  Married with kids

*
PrincZe
post May 28 2020, 10:21 AM

Look at all my stars!!
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3,050 posts

Joined: Oct 2008
QUOTE(mmweric @ May 27 2020, 02:15 PM)
It would be really nice to know how us Malaysian financial goals change by age and life stage.  It would be really nice and appreciated if you participate. I will summarize the data every time 10 people participate

Question a.  Gender
1.  Male


Question b.  What are your financial goals
4.  Plan and budget for retirement
8.  Others (please elaborate) - Future expenses.

Question c. What is your age group
2.  25-30

Question d. Life stage
1.  Single/Divorced with no dependents



*
seanlam
post May 28 2020, 10:27 AM

Casual
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Joined: Jun 2009
QUOTE(LNYC @ May 19 2020, 11:26 AM)
I am interested notworthy.gif  please and thank you
*
keep up the good work
woonsc
post May 28 2020, 10:30 AM

Financial Padawan
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Senior Member
2,032 posts

Joined: Jan 2014
From: Sabah, Malaysia


Question a. Gender
1. Male
2. Female

Question b. What are your financial goals
1. Buy a car
2. Budget for a wedding
3. Buy a house
4. Plan and budget for retirement
5. Plan and budget for child expenses
6. Plan and budget for a child's further education
7. Plan and budget to start a business
8. Others (please elaborate) FIRE!

Question c. What is your age group
1. Below 25
2. 25-30
2. 36-40
3. 41-45
4. 46-50
5. Above 50

Question d. Life stage
1. Single/Divorced with no dependents
2. Married without kids and don't plan to have kids
3. Married with kids
mmweric
post May 28 2020, 01:01 PM

Getting Started
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Junior Member
156 posts

Joined: Jan 2020
QUOTE(mmweric @ May 27 2020, 02:15 PM)
Oops forgot to add my own. Thanks for all the responses.

It would be really nice to know how us Malaysian financial goals change by age and life stage.  It would be really nice and appreciated if you participate. I will summarize the data every time 10 people participate. 

Question a.  Gender
1.  Male
2.  Female

Question b.  What are your financial goals
1.  Buy a car
2.  Budget for a wedding
3.  Buy a house
4.  Plan and budget for retirement
5.  Plan and budget for child expenses
6.  Plan and budget for a child's further education
7.  Plan and budget to start a business
8.  Others (please elaborate) already retired and achieved a not so lean FIRE a few years ago planning to start a hobby business to keep myself occupied

Question c. What is your age group
1.  Below 25
2.  25-30
2.  36-40
3.  41-45
4.  46-50
5.  Above 50

Question d. Life stage
1.  Single/Divorced with no dependents
2.  Married without kids and don't plan to have kids
3.  Married with kids
4.  Married planning to have kids
Answer can be like
a. 2 b. 3,5,6,8 (take care of my parents) c. 4 d. 2
Thanks.
*
encikbuta
post May 28 2020, 03:53 PM

Getting Started
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Junior Member
275 posts

Joined: May 2020
From: Kuala Lumpur


Question a. Gender
1. Male

Question b. What are your financial goals
4. Plan and budget for retirement
5. Plan and budget for child expenses
6. Plan and budget for a child's further education
7. Plan and budget to start a business
8. Others: To be exact, I'm currently on a "minimize spending, maximize earnings" warpath without any clear goals. Retirement and child related expenses are more like 'minimum requirements'. Other things like going on budget-free holidays or starting a business would be categorized as 'nice to have'.

Question c. What is your age group
2. 36-40

Question d. Life stage
3. Married with (one) kid
frostfrench
post May 28 2020, 05:21 PM

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465 posts

Joined: Oct 2011
From: KL


QUOTE(mmweric @ May 27 2020, 02:15 PM)
It would be really nice to know how us Malaysian financial goals change by age and life stage.  It would be really nice and appreciated if you participate. I will summarize the data every time 10 people participate

Question a.  Gender
1.  Male
2.  Female

Question b.  What are your financial goals
1.  Buy a car
2.  Budget for a wedding
3.  Buy a house
4.  Plan and budget for retirement
5.  Plan and budget for child expenses
6.  Plan and budget for a child's further education
7.  Plan and budget to start a business
8.  Others (please elaborate)

Question c. What is your age group
1.  Below 25
2.  25-30
2.  36-40
3.  41-45
4.  46-50
5.  Above 50

Question d. Life stage
1.  Single/Divorced with no dependents
2.  Married without kids and don't plan to have kids
3.  Married with kids
4.  Married and planning to have kids

Answer can be like
a. 2 b. 3,5,6,8 (take care of my parents) c. 4 d. 2
Thanks.
*
Female

Plan and budget for child expenses
Plan and budget for a child's further education

41-45

Single with 1 kid

smile.gif

saintmikal
post May 28 2020, 07:05 PM

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157 posts

Joined: Sep 2007


1,6,4,3

'Semi-retired' due to CV 19.

This post has been edited by saintmikal: May 28 2020, 07:06 PM
mmweric
post May 29 2020, 01:39 PM

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Junior Member
156 posts

Joined: Jan 2020
QUOTE(frostfrench @ May 28 2020, 05:21 PM)
Female

Plan and budget for child expenses
Plan and budget for a child's further education

41-45

Single with 1 kid

smile.gif
*
Oops missed out that option
Zenph
post May 29 2020, 03:48 PM

Getting Started
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Junior Member
297 posts

Joined: Apr 2020
QUOTE(mmweric @ May 27 2020, 02:15 PM)
It would be really nice to know how us Malaysian financial goals change by age and life stage.  It would be really nice and appreciated if you participate. I will summarize the data every time 10 people participate

Question a.  Gender
1.  Male
2.  Female

Question b.  What are your financial goals
1.  Buy a car
2.  Budget for a wedding
3.  Buy a house
4.  Plan and budget for retirement
5.  Plan and budget for child expenses
6.  Plan and budget for a child's further education
7.  Plan and budget to start a business
8.  Others (please elaborate)

Question c. What is your age group
1.  Below 25
2.  25-30
2.  36-40
3.  41-45
4.  46-50
5.  Above 50

Question d. Life stage
1.  Single/Divorced with no dependents
2.  Married without kids and don't plan to have kids
3.  Married with kids
4.  Married and planning to have kids

Answer can be like
a. 2 b. 3,5,6,8 (take care of my parents) c. 4 d. 2
Thanks.
*
Murasaki322
post May 30 2020, 01:13 AM

Casual
***
Junior Member
452 posts

Joined: Jul 2018
Question a. Gender
1. Male

Question b. What are your financial goals
2. Budget for a wedding
3. Buy a house
4. Plan and budget for retirement


Question c. What is your age group
2. 25-30


Question d. Life stage
1. Single/Divorced with no dependents


stephdreamcloud
post May 30 2020, 01:59 PM

Getting Started
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Junior Member
97 posts

Joined: May 2020


QUOTE(mmweric @ May 27 2020, 02:15 PM)
It would be really nice to know how us Malaysian financial goals change by age and life stage.  It would be really nice and appreciated if you participate. I will summarize the data every time 10 people participate

Question a.  Gender
1.  Male
2.  Female

Question b.  What are your financial goals
1.  Buy a car
2.  Budget for a wedding
3.  Buy a house
4.  Plan and budget for retirement
5.  Plan and budget for child expenses
6.  Plan and budget for a child's further education
7.  Plan and budget to start a business
8.  Others (take care of parents, increase investment portfolio size)

Question c. What is your age group
1.  Below 25
2. 25-30
2.  36-40
3.  41-45
4.  46-50
5.  Above 50

Question d. Life stage
1.  Single/Divorced with no dependents
2.  Married without kids and don't plan to have kids
3.  Married with kids
4.  Married and planning to have kids

Answer can be like
a. 2 b. 3,5,6,8 (take care of my parents) c. 4 d. 2
Thanks.
*
Oklahoma
post May 30 2020, 06:08 PM

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Junior Member
878 posts

Joined: Mar 2020
Hi guys does marriage ruin your plan to retire early? Share your experience.
mmweric
post May 30 2020, 06:32 PM

Getting Started
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Junior Member
156 posts

Joined: Jan 2020
QUOTE(Oklahoma @ May 30 2020, 06:08 PM)
Hi guys does marriage ruin your plan to retire early? Share your experience.
*
It can go either way depending on who you marry. biggrin.gif

This post has been edited by mmweric: May 30 2020, 06:32 PM
Oklahoma
post May 30 2020, 07:00 PM

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Junior Member
878 posts

Joined: Mar 2020
QUOTE(mmweric @ May 30 2020, 06:32 PM)
It can go either way depending on who you marry.  biggrin.gif
*
I scared to persuade my SO to save at least 60% of her income lol, crazy.

Also, children are expensive.



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