All this talk about FIRE, but at what amount can someone say that they are FIRE? This is especially true for the people where there is a chance of money running out. There has to be a minimum amount.

Ive made some money, and although i can say at the moment i have not much constraints, but i do not think i am anywhere near what i would be comfortable with, having said that, realistically speaking. Many people do not have such financial stability.

On a personal level, i do not feel frugal, however i dont have the expensive taste most people do. I dont splurge much.

Is rm2million enough? Rm5million? Rm10million?

Realistically speaking, how many people have achieved such success? I know many have, but most havent.

How much can a person comfortably have and say, i can do whatever i want. I no longer have money worries.

No doubt it looks better but this is HOUSEHOLD INCOME (means husband and wife normally). If wife doesn't work, you are probably looking at half that figure and we are talking about T20!!

The more money that can be saved and prepared for investment opportunities the earlier, the faster FIRE can be reached.

Whether this pocket of funds comes from controlling expenses or increasing income is secondary. As many opportunities come by, if there r no funds, u r just a spectator.

Rather than having a specific amount, learning when to pull the trigger and preparing. That will bring FIRE.

I'm a bit curious about the idea of living like a potato so that one can eventually choose NOT to work AND live like a potato still afterwards. Many of the buggers i run into with this retire early mindset appear look like their only goal in life is to NOT work. Which turd is so lazy kenot deliver anything of value once retired?

I also plan to be financially independent la, but i cannot NOT do anything that doesn't generate value - feels so wasted - maybe at least gerai burger or something or spend time with kids teaching them how to invest ke.. all have monetary value somewhat. Part time lecturing might be my thing once passive income stabilizes.

inb4.. having 2 engines also create babies.. oh wai... GGWP

Due to income tax being very high here (you pay nearly 40% marginal rates once you hit A$90k/yr), even though it looks very good having a package of A$135k (with A$25k after-tax going to super), i estimate my income being similar to someone getting about rm15-16k/mth (after-tax) in KL.

What i am trying to convey across is that Msian wages are very low (by international standards) - only in the recent few months i understood why people would take such high risks to come over to work here illegally. There is a tv program (shown weekly) here on customs and immigration and i see a lot of young people being refused entry because they came across as someone who intended to work illegally. A good proportion of them are Msians.

Then we are going back to the arguement "is travelling a boost to our personal skills or just a pure enjoyment".

That would be a 1000 words essay and I'll just state that I'm on the stand that travelling is good for self-development. It does in fact helped in my interviews, made me stand out in during my peers during working and let me have different views on investment per se.

Those are the points which make a person more valuable, higher pay and able to see opportunities and dodge risks. (actually made gains in bitcoins and sold everything before the peak and didn't go in like everyone else during the peak again)

This simply makes a person, i.e. me, to simply accumulate income faster.
Of course, my type of "travelling" involves a few weeks and a deep look in the culture of the locals, not just pure an insta-taking session like those "one week 3-5 euro countries" trip. Those are for me, pure waste of money and nothing to gain other than exhaustion and a great hit on the bank esp with our garbage exchange rate.

NGL internet gives a lot of info nowadays but something is just unobtainable without visiting the spot.

I'll just try to put down a few things here:
1. Switzerland: can you imagine a place where people can live with their easy-going life harmony yet the whole place is being run beautifully? (Japan is not easy-going life harmony lmao)
2. Northern Europe in a general: people can actually close shop at 5 and not work on weekends and yet still live like saints!
3. China and Japan: business means working 2-10 of the workload of a normal white human, and that's how we Asian become ultra successful in so short of time
4. every european country other than italy and france: man Malaysia is just good man cheap food 24/7 insya'Allah 
5. Italy and France: culture is good stuffs and one definitely can make money while maintaining them

These might not be something significant to you but all these times spent definitely shaped me, or some parts of me!
And of course travelling is fun, ain't gonna deny that 

I'll just say you are yet to pay a visit to somewhere significant, go travel more！

p/s: add one more

6. europeans dont give a shit about luxuries(LV, blueberry and Chanel) unless they are realllllly rich and from upper class, and always curious what's wrong it is with Asian 

Hi guys, i have some question with FI, how do we know if we achieve FI? after our monthly passive income exceed/cover our monthly expenses?

hi need advice in this LAST decision of my life to make:-

age 45
salaried earner from day 1 till today
never venture into business
never invest in stock/bond/unit trust etc

consider myself FI >2yrs ago but not RE yet.

FI as in
>> 2 houses fully paid in 2017 (1 currently staying, 1 on-rent);
>> current kwsp+fds fund generation if compounded 6%(kwsp) & 4%(fd) the next 10yrs, and start withdrawing monthly at age 55 (Yr2029) as retirement expenses is 9200/mth; and if factored 3% inflation rate thereafter Yr 2029, i should die at age >72 (meaning fund 0)

NOW, i need to make ONE LAST decision in either below two option >>

option A, take up a 10yrs mortgage loan of 580K@4.45%pa for a 730K DSL (3rd property); pay 6000/mthx12x10yrs = 720K+(730K-580K) = 870K ;OR

option B, pay ownself (in fd@4%) 6000/mthx12x10yrs

for option A, loan just approved last week, that why need to decide soon.

I wish to hear from the sifu, specially FIRE sifus here, is it wise to tie myself at 45 (tail-end employment age) to this next 10yrs mortgage commitment, or just pay ownself (option B), particularly at current property market

thks for your input.

option B; and start reading on stocks for next 10yrs & start somewhr with the 10yrs mortgage installments accumulation right.

No, not depending on rental income.
Correct it won't run empty, if ONLY annual %/dividends are withdrawn as annual retirement expenses.

my case, i take 1st yrs retirement expenses to be 70% of projected last drawn salary & projected fund size at age 56

age 56; 1st year 10,500/mthx12=126,000pa (with 3% inflation per year) against initial fund projection 2,250,000@4%= only 90,000

so, kena mati age 75 unless i take 90,000/12=7500 pm (1st year)

just my 2cents

Thanks!

No, I reached FI with about 1.5m in savings (the other 900k from flipping properties - this all happened in the past 10 years), and another 500k in EPF.

Waiting for my EPF to reach 1m (currently at about 600k) so I can start withdrawing the dividends. I think I can RE (yes still working) in 5 years time with 3m in total.

My wife is on the same path & progress as me, so household should have 6m.

well, i have been taught to live frugally since i was small but with some added twist.. lol.. not as frugal as parents.. man they are LEGEND.. seriously respect!

now my FD and dividend able to cover my monthly expenses with much leftover..
and now im aiming for 2x the amount with unit trust, hopefully.. 

Defines misery. What seems misery for one may not be misery for one who is used to it. For one not used to it,  yes will be culture shock.
Hear hear. I am living almost like you.

Just some examples of what i think i did that was frugal

1. Kept same car for 15years
2. Go to work by lrt
3. Electricity bill averaging rm50. Got AC but never use.
4. Water bill RM0
5. No astro for 15 years
6. Meals stick to 3 times a day. No snacks in between
7. I dont take coffee, or tea. So avoid those ‘starbucks trap’
8. Minamalist furniture

please be more aware that property is no more the same as before ... i mean no more wealth creation tool.

Previously many people made money due to the property boom which has in fact ended. property boom was due to excessive speculation which increased the property prices tremendously to a level which is beyond affordability by many. Prices are actually future price (10-15 years ahead) and it is expected that property price will remain stagnant for a very long time.

It was a lucky year for many whom were in deals in the property boom period where money was made up to millions and gave them the opportunity to FIRE. Those were the real lucky bunch ...

I know a few friends that save few million RM in bank and not own any property because they think those property for own stay is liabilities.. they achieve FI but havent RE

I am not a rich guy, but I have achieved FI (still about 11 years to my scheduled RE age), but I do not plan to get any property YET as I feel it will disrupt my plan to RE.
Everyone has a different approach depending on your situation. No one way is the perfect way to achieve FIRE (ie doesn't necessarily mean everyone who FIREd will have to have a property).

There could be 2 versions to your question above:-

1. Do you need to buy a property in order to achieve FIRE?

2. Could you delay the property purchase until you have FIREd?

There are very distinctive differences between these 2, and I chose the latter. I am still renting my house (and rented out other empty rooms as I only needed 1 room).
Again I would like to stress that this is based on my situation (in my 30's and unmarried with a stable job).

You meant to say parasites?  

Well, I wouldn't mind giving what's mine to her, as long as I get what I want
After all, the husband is supposed to share the happiness, sorrows and wealth together with the wifey.
I would like to go makan together and go for outings together. I won't kira much one as long as we are doing things together.
That is why my FIRE plan is made for 3, not only for myself.