thanks for your kind words bro.

maybe those needing RM20M or more for FIRE is looking at FATFIRE instead of norm or leanfire heheh - ya, some variations flying about.

Also, some really young FIRE may want to use a 3% approach based on some stats i read as the 4% was for the previous traditional retiree in US 60s+/-. Still.. RM20M+ *3%pa/12months = RM50Kpm+ spending.. that's a lot of "happiness" there - may be too stressful for some to spend that much

yeah, the presence is a present - need to be "in the now" too to enjoy the presents .
In my simplistic execution - 1/3 to pay for the past (debts, transgressions, paybacks), 1/3 for the present + 1/3 for the future hehe - ie. 1/3 debt repayment and gifting, 1/3 spending, 1/3 stockpiling and investing for future

This post has been edited by wongmunkeong: Jun 9 2020, 02:55 PM

why not?

different people have different needs.

Some need 100m to FI/RE, some need 1m.

who are we to judge

To realize $20m fi/re, one need to has or could has >$500k p.a regular income and has >$10m net worth.

This post has been edited by icemanfx: Jun 9 2020, 04:07 PM

yeah, and for someone like @hksgmy that number is too low

Well, it’s is/was my concern - even if it’s somewhat irrational. As I’ve said so before, our wealth and assets came about from the more than generous remunerative packages that came with our professional careers - and weaning ourselves off that will be difficult to accept, at least initially. We’ve worked hard for what we have all our lives. There are others who’ve achieved a far greater rate of return on their investments, and at times, reading their achievements make us wonder and worry that we’ve underperformed.

But, talking it out loud and vocalizing my concerns, and listening and reading the feedback and opinions have helped assuage those concerns to a great degree.

It won’t be easy, since I intend to retire next year, but with any luck, it won’t all be a rough ride.

Peace.

if one has huge income and savings there is nothing to worry about investment returns no matter how low, even 1% return on 100M is already $83+k passive income a month...just how much do we need we cant bring to next world

This (and many articles like it) is one of the reasons for my concerns, irrational or otherwise: RICH BUT NOT RICH ENOUGH ARTICLE

Having said that, you’ve made some very valid observations - and we could always liquidate our properties to free up more cash should that is required. No drawers to stash the cash in the coffins, like you said.

Thank you.

This post has been edited by hksgmy: Jun 12 2020, 08:25 AM

Well most people who have loads of money like 100M would at least like their net investable assets to be same year after year after taking into account inflation. So a minimum return of at least 1% above inflation rate would still be required

Thanks to @stoolpresidente #DDTG community, I have earned enough $$$ to retire at 27. Thank you Dave. I am forever loyal to you and the trading community that you built #retailbros #straightwinners
https://twitter.com/cowabungabrew/status/1271508413017731075
https://twitter.com/stoolpresidente

This post has been edited by icemanfx: Jun 13 2020, 06:08 PM

Sounds like a scam?

Met a friend working in HARTA glove as senior Manager (12 yrs)
Told me due to Esos, his stock value almost hit RM2million..

The peers who same batch with him all touching few millions ringgit value of stocks.

FIRE unexpectedly.

All thanks to COVID19 eh? Always a silver lining behind any dark cloud.

https://mobile.twitter.com/stoolpresidente/...350291653791747

https://www.foxbusiness.com/markets/barstoo...impression=true

Ah, erm, ok. Too sophisticated for me. Good luck to him and his followers though - fortune favors the brave.

"Amateurs can get lucky, but only fools mistake that for wisdom.”

I didn’t mean to dig up an old discussion, but in the interests of FairPlay and to show that there was no malicious intent in my initial declaration, I’ve included a snapshot of my latest (painful) tax returns for your perusal.


[attachmentid=10515501]

Hopefully this further clarifies and removes any co fusion or misunderstanding on my original post.

Trying to prove just make it more dubious on what you really say you have. But if you really want prove it then prove it with your payment to the IRB since you have no problem sharing something so personal here.

Given some of your /k replies I really wonder is it the same person.

if after he did that (above), will someone else asked for proof that that income and payment details are really his/her and not of others? (like client, employer or family members, etc)

i remember once in one of the thread, there was one forummer mentioned "that could be photoshopped" when trying to dispute the data shown upon challenged

This post has been edited by yklooi: Jun 14 2020, 10:40 AM

yeah, pointless trying to play piano to cows nor ask for proof of such neh XD

This post has been edited by wongmunkeong: Jun 14 2020, 10:55 AM

Yes, indeed, it doesn’t end does it?

The Notice of Assessment is an interesting secured PDF form that cannot be altered, obviously - at least not by amateurs like me.

But, the above message wasn’t so much for you, as it was to close a side discussion with the other 3 whom I tagged. Still, I didn’t think it would cause even more suspicion and envy.

Perhaps it’s best to let sleeping dogs lie. I will delete my earlier post and let the discussion here continue without the unneeded distraction.