All I can say is google is your best friend

I was refer to flight who suddenly mad. Google really can help me?

Most probably. But only after you read the link I provided to the thread in Property section

Sorry? Do you mind link me to the thread?

FI RE D - Financial Independence Retire Early Done

so i have decided to be fired and need advise from all here. Please only valuable advise.

1. Quit job 17 August 2018 (one of the most stressful workplace)
2. Managed to pay of car and house
3. 1 Kid
4. 1 wife
5. Passive income from interest rm3500
6. No bad habits
7. KWSP 800K (cannot touch for 15 years)
8. Other savings rm600k (including benefits & insurance termination from company) -- in process
8. Other income 7k pm
9. Healthy
10. Family expenses pm rm3k-4k
why quit? too much stress and empty promises.

what am i considered now? jobless? or retired?

plan to just reinvest the cash and generated interest. Waiting for the payout which plan to just put in FD or ASNB ( 4-6% interest ) 2-3k pm

Consider generation of monthly income rm3500 + 7000 + 2500 = 13000

with my current expenses only 3-4k pm, can save up another rm10k pm but some months indeed have other expenses like insurance or etc which i say maybe rm10k per annum. so saving per year approx (rm13k-4k) x 12 - 10k = rm98000 and again to be invested in safe deposits to generate interest.
did i make a wise decision?

I have gone through a few rounds of crashes. 1987, 1994, 1998, 2008.

Since 2008, there is no serious crash. That is when most of the youngsters born in 80s and 90s started to invest. And they never been through the plight of a crash. Some talked very big like investment guru  So much confidence backed with numbers, charts and theories....

Until they experience their first crash, then I am sure they will learn what is risk and returns.

Same thing happened to Greece and Venezuela. Before the crisis, nobody would have thought the country would go bankrupt. There were 101 theories to back up stability of the economy. But you can see what happened to them now...

And look at Gary’s friend who only invest in Aussie banks. A big chunk of portfolio was gone

Diversification is the universally accepted practice to mitigate investment risk. Because there is no certainty in investment world. Anything could happen. And usually they catch you by surprise. By that time, it would be too late for you to do anything.

I have invested in property since ~30 years ago. To the contrary, the property price has gone up tremendously. Maybe I have better luck ? 

May I ask what has my credibility got to do here ? In a forum, my point of view is more important than credibility. If it makes sense, that is the thing a reader can take away. If my point of view doesn’t make sense, even if I am the most credible person in the world, how would you benefit from it ?

Sorry I cannot remember, did I said something bad about you previously ? Just curious....
Bank of Australia ? Never heard of it

You must be talking about Commonwealth Bank of Australia 

Gary was telling you a real life story. His good friend loss million of dollar by holding substantial shareholdings in banking sector during the financial crisis.

I don’t understand what are you trying to get to....are you trying to prove his friend did the wrong thing by selling the shares ?
Diversification is trying to address the issue of “what if something goes wrong”

Even if a country’s economy is extremely sound, there are also benefits to diversify to other countries.

Just look at the thread in this forum. There are SGX, ASX, US stock, ETFs etc. Forummers here do diversify. They don’t put all their eggs in one basket.

However, if you feel that your investment objective is to invest in only Malaysia, that is entirely up to you. Nobody here can stop you. Everybody has his own choice and preference.

https://forum.lowyat.net/topic/4600862/+300

Starting from post #308 page 16 to page 18

Ramjade

since you were an extreme frugal, read this and perhaps it sparks you an new perspective.

https://www.reddit.com/r/financialindepende...i_have_learned/

Ramjade

since you were an extreme frugal, read this and perhaps it sparks you an new perspective.

https://www.reddit.com/r/financialindepende...i_have_learned/

What I Have Learned

So having participated in many threads here in recent months, as well as other financial forums going back to before the 2008 crash, and having been at various points in my life a broke college student/graduate student, having net worth at my absolute lowest point somewhere in the neighborhood of -$155,000 (negative number), quickly digging myself out of debt, marrying into more debt and helping my wife pay her debt off, putting my wife through school and teaching her about investing even when she wasn't entirely on board but agreed to get started (and now is saving aggressively), these are some of the general principles I have learned:

1. No matter how much of your income you save every month, there is always someone on some message board who will claim to save more and say you aren't doing enough. You save 70%? Well someone else saves 80% and plans to save even more moving forward. It doesn't matter. Comparing yourself to people on this forum in this regard is just as futile as comparing your vehicle to people on the opposite end of the spectrum and wondering why they have a nicer car than you do. They might have more income, more debt, more help from family, an inheritance, a wealthy SO. So don't come here and ask "is saving 20% enough?" any more than you would ask the guy in the BMW 5 series, "is driving a 10 year old toyota enough?"

2. There is no shame in enjoying "things" on occasion, even if those "things" cost money.

3. Given #1 and #2, it is a worthwhile exercise to sit down and look at exactly how many hours you have to work to pay your fixed monthly expenses. Want a new car? Calculate exactly how many hours you have to work every month to pay for it. Ask yourself if the tradeoff is worth it. If the answer is "yes, it is worth it" don't fret about the fact that some person on a forum tells you it is an expense you should avoid, or how it might delay your retirement in 1-2 decades, or how you could buy a car for $5K and that would be plenty adequate and you should be happy because you have more than people do in third world countries.

4. When your entire goal is to stop working as soon as feasible, a negativity creeps in about the value of your work, and what it means to be employed and contribute in some way. I am not in any way rationalizing being in a terrible work environment. I fully recognize the work place can be malignant and unpleasant, depending on your supervisors and the culture of your job. I am just pointing out there is a certain value in doing something to feel like you are contributing to the world and helping others and trying to approach your job with a positive frame of mind. If you are a young person who is a decade or more away from retirement, and you are already approaching work with an attitude of, "I don't want to do this a day more than I have to", you would serve yourself well to find a new line of work or change your attitude/perspective just as much as you would by saving every penny available to get out as soon as possible. And sometimes treating yourself a little bit will make you feel better about your work, more so than watching your account balances go up with the goal being to "get out as soon as possible". If you are too extreme with saving a substantial portion of your earnings, your work immediately feels less rewarding because you are not seeing the fruits of your labor other than on paper, which leads me to #5....

5. Reaching financial milestones is not as gratifying as you may imagine. I have met many of them, including paying off significant CC debt and student loans, building up retirement accounts, etc. I have yet to join the "two comma" net worth club but I am not far away. None of the financial milestones have been nearly as meaningful as I imagined they would be when I was younger and my net worth was a large negative number. The reason for this is I know how much I have sacrificed for each of them. When I reach the "two comma" net worth I suspect that day will be no different than any other day of my life thus far or any other milestone I have met. I thought the six figure net worth would be a big milestone for me. I felt no different than the day before. Same with 250K and 500K. You get there and there is no celebratory moment or major life change other than realizing you put a lot of things on hold to get there. It ain't all bad but it certainly isn't the way I imagined it when I was younger.

6. There is a wisdom in pursuing hobbies/outside interests that are inexpensive, but if there is something you feel you need or want to do it might be worth shelling out the money. I have never owned a boat but I would love to and could afford it, could have years ago. I sometimes wonder if I am putting off things that I won't enjoy as much when I am older, whenever I choose it is finally "the right time". You might even find yourself more motivated to work more to support a hobby that makes you happy, if the cheap or free ones don't quite do it for you.

What is my point? I am not sure I have one. I still to this day spend a lot of time on financial forums, here and elsewhere. I still spend a lot less than I earn, although I have loosened up a little recently. But I have noticed in forums such as these there is such an extreme point of view in some cases that doesn't sit well with me. It seems as if many are recommending what I would consider extreme measures which in some cases make people less happy.

There are people who go through life spending way too much money, more than they have, and they are miserable. There are also people who save every last penny and they are miserable too. Each may have their own regrets later in life. The best balance is somewhere in between and there are some extreme points of view in this forum, which may not always be the best way to proceed.

That is really an impactful piece of writing ! Thanks for the link 

Especially point #4 and 5

For everybody's ease of reading :

My #4 is splurging on a car that I don't mind driving and yet within my affordability - something that makes me want to drive to work every morning.

#5, one of my first milestones when I was younger was more materialistic, a watch costing me one whole month wage. Years later, upgraded to a 2 months salary piece... another milestone achieved.

Hi guys, thought I would join the discussion how much do you think is enough to FIRE on per month in KL with a fully paid off home?

Yea....having lots of money is not always the only goal in life.

Job satisfaction will bring joy money can't buy. Like a doctor saving lives, an engineer building a tall building, an artist drawing a masterpiece, a teacher's students score straight As, bosses who created jobs and indirectly support many families etc etc. If a person's only goal is to make money so that he does not have to work again, I doubt he will enjoy his job. He would drag himself to work everyday, and life is like hell to him

Instead, if everyday a person achieves something, reaches a milestone, people thank him for his work (like saving a person's life).... he won't rank money highly. Volunteers social workers are this category of people. They are not after money, but they are happy contributing back to the society. They are selfless people, compared to people who only want FIRE.

I think a person's attitude to life is very important (to be happy) whether in retirement or working. Now if we are able to appreciate/value our hard-earned assets/possessions more easily than others, we generally tend to be happier than others. I think the secret is being able to feel gratitude (感恩) for the things we have. If we are able to do this, we will feel that a lot of times, we really don't need more (money) in life.

Like in my case, compared to my group of Msians friends (all migrated to Sydney in 70s/80s), i am probably one of the poorest in the group but i am one of the happiest. Most of them have built up retirement/income-producing assets of more A$4-5mil (doesn't include their house) but yet they feel poor. They are all in their 60s/70s and they keep telling me to working to generate more assets/retirement funds. I ask them how much they need in retirement and they don't really know because they don't really calculate/plan. I don't really compare myself with these friends (they all have a few kids so may need a bit more to help the kids out ) because when you start to compare then you will feel miserable.

A very good link by sky18 - must say i learnt a few things from it.

Well for me,  very simple. Seeing my account grows and money coming in without working is extremely satisfying.

People look forward to paycheck every month as they are living paycheck to pay check. I look forward to it so that  you chest is refilled and I have more money to invest

Know what you want and work on it and be happy with it as you are responsible for your own action.

Find your balance point, else, your burn out is much higher, dont let yourself "hate" your jobs especially there're more years away from FI.
One of my key believe is there is no absolute black or white, almost most of them fall in between.

Go checkout the millionaires interviews. (https://esimoney.com/category/millionaires/), you'll noticed there're many way to reach the goal and common trait among them too.

I wish read all these sharing a decade+ ago prior my journey is started. And trust me, there is no different than the day before when you hit a million or multi-million.

That is really an impactful piece of writing ! Thanks for the link 

Especially point #4 and 5

For everybody's ease of reading :