Argument against FIRE(on finding the balance) does echo with most people out there.
Many didn't quite understand the RI part. Its not about being lazy bump, but rather freedom to do what we want without worrying about money.
Manipulative bosses? resign
Tired of working? just take few years off
Ugly coworker? quit

I used to save half of my salary for few years. Currently only 15% due to personal circumstances.
My immediate target, is at least 40% saving so I may retire comfortably in 15 years.

My only worry is, to get my wife onboard. She's younger and easily swayed by all those hipster food and travel . I blame instagram lol
Early Retirement Calculator: https://networthify.com/calculator/earlyretirement

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

______

cool and inspiring..
what i learn from your post is.... saving as young as possible + compound interest from saving.

Congratulation to your move, which country are you working now? I wish my day will come soon   

this thread is alive...

share my opinion here.

the only way can fire is that inheritance.

a lot story want to share.

fire is doable. if you got the right way right mind right time to do it.

This is also my desire~~ but I am less ambitious, I only want to retire right before the age of 50.

My strategy is a simple lifestyle and a booglehead style of investing (in low-cost index ETFs) and hopefully some great property deals.

Kena burnt by a few local mutual funds and local stock trading already. Now, I only buy really solid stockpicks, but gosh, they move so slow. Still learning

Planning to have kids next year, not sure how much that will impact my finances.

To inspire those who don't work overseas...and prove the naysayers (like my older relatives) who keep saying a job overseas is the only way to make it in life...I believe its possible to achieve goals early even for those working locally. Its all about controlling your lifestyle. I've built up a property portfolio in the 7 figures with an average yield of 6%, with a net worth also of 7 figures, and have never been based out of KL for longer than a few weeks at a time.

Fyi I have been in the workforce for 5 years and am in my mid 20s. No, I did not receive any boosts from my parents not even for studies (full scholarship with allowance) and they did not assist me in any way for any of my properties except that I stay under their roof and receive some moral support and family love.

To consistently invest 70-80% of income, may not sound easy but just ask yourself if you really need to drive that Jap or Continental car around in the traffic mess of KL? (I drive a fully paid off local vehicle and am frequent Mrt/Lrt user) Do you need to go on cafe-hops...? Why not just stick to one? Do you need a starbucks every morning? Make your own! Do you really need to have your entertainment outside? Have house parties with duty free booze. Is it a must to watch latest movies every other day? Go torrent or iflix or something. The list goes on...

I see my post is dubious to many.

Since my studies was fully covered including expenses, whatever I earned part time, i slowly brought back home, its 5 figures in SGD. And no I'm in some illegal or immoral industry. I worked all sorts of jobs there in whatever spare time I had, photography, crew, promoter, tutor...anywhere from 8-50 sgd an hour type of jobs. Since starting full time work, which started in KL and still is in KL, my income has always been in 5 figure territory. I do not only rely on FD to grow savings that is not invested in props.

1st and 2nd prop is residential, subsequent is commercial. 1st was a mistake, bought from dev, yield is just over 4% which don't even meet the interest: am trying to exit. 2nd was the effort of 8 months of patience, non stop viewing and lowballing sellers until I got a unit more than 6 figures below market value. Believe seller was in dire financial difficulties, and he actually already had an interested buyer, who just wanted to push him another few k down from his asking, I offered to buy at the asking price and got it. Student rental play prop, yield is 9% counted at the market value, more than 10% at the price I got, incl renovate and furnish. I don't think I am not overestimating the value of my props: I take an average of the latest transactions listed on brickz and from the owner group chats.

Sorry to those who feel bad or disbelieve me, I'm being honest, I don't want to boast, I just wanted to inspire some young people my age and its not about the income. Its about the discipline in work, expenses and investments. Some of my work days are as long as 14 hours when I need to. Never buy investments without weeks (or months) of study, made that mistake on my first prop. Never overspend. Some of my friends with 4k income a month probably think I earn less than them, from my lifestyle. I grew up in my grandfathers' attic, sleeping on the floor, eating rice with fruits and veges that me and my grandma stole from neighbours' gardens (sorry guys XD) or expiring old meat that my uncle, a wet market worker, was allowed to bring home. When I see people my age spending 110% of their income, with the 10% from parents or credit, and all the spending going to expenditure, it just pisses me off.

People could believe in many things e.g Robert kiyosaki's "rich Dad poor Dad". The question is how realistic and practical?

Oh ya, "rich Dad poor Dad" is as real as Harry Potter.

Nice! FIRE arrives on Lowyat.

Count me in as another FI person here. Working towards RM3K a month in passive income currently. Not even half way there. =(

If 5M then based on 4% FD it is about 200k/year which is about 17k per month

It definitely looks a lot for now, even for a family with a reasonable good lifestyle

I think the main consideration here is in the future 10 years or so perhaps there is no more guarantee return of 4% per year in FD, who knows the interest rate will decrease to a new low. Therefore at least RM 5M is just to be safe and worry free.

Again I think if someone can achieve RM 5M current asset (easily disposable to generate cash such as bank savings, stocks, unit trust etc), then his/her ability at that time will be enough to continue surviving, and growing the capital without working

can you survive with rm15k/mth? how old is your kid?

how much did you budget for your kids edu fund? will rm1 mil be ok?

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?

That's not key.

I have achieved FI, but I still have mortgages (25 years to go), hire purchases etc other bills to pay.

The key is that, my passive income is greater than my expenses.

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.