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

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tippman
post Dec 20 2018, 12:44 PM

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QUOTE(Melvin117 @ Dec 20 2018, 12:35 PM)
Basic assumption gained from people downright denying the good side of travelling tbf.
Even I as a strong supporter of the statement only mentioned it does help in soft skills, character building and such, not the direct monetary effects.

For interviews, it's all about the wow factor and the display of a person's character and leadership and skills.
While applying for top jobs or decent companies(MNCs for me), applicants are usually sharing a similar set of skills and abilities. It's the individual's characteristics that will make the difference here and I would just say the exposure gained from travelling definitely helps.

For business opportunities, it's more apparent. Seeing something that we don't have here in overseas and just bring it here? Let it be goods, concepts, or just an idea or MLM. Definitely not fresh news.

Networking, well, of course, a more knowledgeable person will be more popular, have more kinds of stuff to talk and you know, more chances for everything if the person can capitalise on it.
And not only sales could be gained, investment ideas, and most importantly, relationships that makes networking so important.
This aspect shines so much in the job listed in my signature.
Truth to be told the free trips were really meh (only got those that went to and go to China lmao), and even for those to Europe and other decent places, those were no different than following traditional travel group  sweat.gif

Only good for marketing and let the company and agent feel good and free  brows.gif 

I have travelled all over Europa and other decent places with the way I want (weeks long, full immersion on culture and conventional life) with my money mainly (some earned from doing insurance business)  brows.gif  brows.gif

And you're wrong, most people actually do read the policies, just not detailed enough to go through like 20-30 pages of them  brows.gif

It's not a direct effect like I have said, it's subtle, it's soft skills, it's all about character building
Really sound financial view and advice over there!
Hey, I wrote a part of what I want to express in the top part of this reply. Please give my reply to @tippman a read first yeah  biggrin.gif

Remember my sixth point listed on what can be seen from travelling?

Luxuries are not important. Buy stuffs which are essentials. But don't cheap out.
Like Ikea. Like decent clothes from Uniqlo. Like a good leather bag that lasts forever with no brand. Discounted.

Small stuffs like this lead me to think about cutting commitments in long run. It's all subtle changes.

My goal is not to retire early but build up a business that can sustain itself by the time I need free time to spend with my family (I'm actually below thirties smile.gif, have inherited properties from my parents' legacies but for my goal, I'm still a decade away from making my business into what I want it to be)
IDM working for 9-5 as long as not whole day like the bulk of business owners in Malaysia, you know, like those start-ups  nod.gif

Books and people will tell you travelling is a waste of money and I do agree that travelling at old age will be truly waste of money (it's a luxury by the very definition)

Travelling when one is still building or working on something, however, will give the person a boost, however light it is.
Some trips are just fun, but some trips are truly soul-searching and open one's eyes to perceive stuff differently. And I think these characteristics are what make top talents and entrepreneurs stand out among normal people, and lead to big bucks (if that's the goal).

All I say is, in one's capacity, go travel as much as one can!
Ain't persuading you people to travel like rock stars, and ofc careful planning is required.
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You first quoted travelling make you accumulate wealth/income and when you are asked to quantified then suddenly travelling improved soft skills. Can you point out to me which statement that I said travelling is not good?

I would assume you can't point out which statement I have said that travelling is not good, thus, how do you form your basic assumptions? By travelling to a place for a weeks long, is sufficient enough to feel the culture? you must be kidding right?

Against when I ask you to quantify your statement you are unable to quantify.



icemanfx
post Dec 20 2018, 01:50 PM

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QUOTE(xcxa23 @ Dec 20 2018, 11:04 AM)
the goal is to achieve fi/re
i get it higher chances to score a high salary job but from there how one can achieve fi/re
tats good.. so how far from your targeted fi/re?
whats ur goal btw?
how much of ur goal related from the networking? izit sorta like investment/business at those travelling countries?
from books, article to ppl experience, i heard of only travelling after retirement.. this is or at least for me 1st time come across travelling b4 retirement will helps to achieve fi/re.
hence the curiosity.
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With only about 3% of adults in this country have over us$100k net worth. There are few and far between could achieve fi/re in this country.

One needs not fi/re to have a fulfilled life. often, a fulfilled life is more important than fi/re.


This post has been edited by icemanfx: Dec 20 2018, 03:18 PM
PeterSi
post Jan 19 2019, 06:09 PM

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I think that this is very interesting topic for many people in general and I am glad to see it on forum. I am also interested to retire as soon as possible. But with average salary this might not be as soon as I have initially believed.
woonsc
post Jan 19 2019, 10:46 PM

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QUOTE(PeterSi @ Jan 19 2019, 06:09 PM)
I think that this is very interesting topic for many people in general and I am glad to see it on forum. I am also interested to retire as soon as possible. But with average salary this might not be as soon as I have initially believed.
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average or not.. save 80% and u can retire in 5.6 years!!
Slash21
post Jan 20 2019, 09:42 AM

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QUOTE(PeterSi @ Jan 19 2019, 06:09 PM)
I think that this is very interesting topic for many people in general and I am glad to see it on forum. I am also interested to retire as soon as possible. But with average salary this might not be as soon as I have initially believed.
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Yes it is indeed an interesting topic, I am an avid FI/RE follower as well having read many sites on this.

Saving as much as you can is one point, another would also be trying to find a way to get the highest returns with your savings in investment. It makes a huge difference returning 4%, 10% or 15%... you need a lot less if there is the possibility of getting higher returns. So far I see that value investing is the only way to go... one of the safest, yet research shows it is able to return double digit growth. Anyone here into value investing?

This post has been edited by Slash21: Jan 20 2019, 09:42 AM
FiFiQ89
post Jan 23 2019, 11:56 AM

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Went other country for weeks and have the audacity to tokkok about how great the other countries are. Generally speaking what you say is correct, but realistically, you never worked/studied those place or stayed for an extensive period of time. I went to study in one of your lists for years, it's not even close to what you 'experienced' there. U gotta take into factors their livelihood, tax rate, cartels, elitism and different of class between the poor and rich. Even with traveling over said place for weeks you still naive.

After study there and worked for a few good years, I can honestly say, yes I agree with the notion that we can learn more on the internet. I love to travel but you can make it cheap and memorable without much money and bragging it out.

It's just immature to say one is better than the other.

QUOTE(Melvin117 @ Dec 19 2018, 04:23 PM)
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  brows.gif
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  brows.gif

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  brows.gif
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tippman
post Jan 23 2019, 12:03 PM

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QUOTE(FiFiQ89 @ Jan 23 2019, 11:56 AM)
Went other country for weeks and have the audacity to tokkok about how great the other countries are. Generally speaking what you say is correct, but realistically, you never worked/studied those place or stayed for an extensive period of time. I went to study in one of your lists for years, it's not even close to what you 'experienced' there. U gotta take into factors their livelihood, tax rate, cartels, elitism and different of class between the poor and rich. Even with traveling over said place for weeks you still naive.

After study there and worked for a few good years, I can honestly say, yes I agree with the notion that we can learn more on the internet. I love to travel but you can make it cheap and memorable without much money and bragging it out.

It's just immature to say one is better than the other.
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BooYa
post Jan 23 2019, 01:39 PM

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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?

This post has been edited by BooYa: Jan 23 2019, 01:40 PM
aspartame
post Jan 23 2019, 01:44 PM

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QUOTE(BooYa @ Jan 23 2019, 01:39 PM)
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?
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Yes...

But dun kid youself too much..

Say, u earning salary 10k, then expenses 10k.. and passive income 5k

Then u quit job and cut expenses to 5k and declare financial freedom.. technically yes, but play cheat a bit..smile.gif

TSmeonkutu11
post Jan 23 2019, 01:45 PM

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QUOTE(BooYa @ Jan 23 2019, 01:39 PM)
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?
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Generally speaking, yes. In case you are retrentched or quit from your professional job, you still can have fund to maintain your existing expenses/lifesytle.
BooYa
post Jan 23 2019, 02:32 PM

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QUOTE(aspartame @ Jan 23 2019, 01:44 PM)
Yes...

But dun kid youself too much..

Say, u earning salary 10k, then expenses 10k.. and passive income 5k

Then u quit job and cut expenses to 5k and declare financial freedom..  technically yes, but play cheat a bit..smile.gif
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Lol ok. no im not cheating myself laugh.gif

QUOTE(meonkutu11 @ Jan 23 2019, 01:45 PM)
Generally speaking, yes. In case you are retrentched or quit from your professional job, you still can have fund to maintain your existing expenses/lifesytle.
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I went through many page of this thread, most comment on salary and job. but im self employed. not sure where im standing now for FI bangwall.gif
Ramjade
post Jan 23 2019, 02:46 PM

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QUOTE(BooYa @ Jan 23 2019, 02:32 PM)
Lol ok. no im not cheating myself  laugh.gif
I went through many page of this thread, most comment on salary and job. but im self employed. not sure where im standing now for FI  bangwall.gif
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Financial freedom is very simple. If you don't work, do you still have the money to survive? Simple right?
BooYa
post Jan 23 2019, 03:37 PM

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QUOTE(Ramjade @ Jan 23 2019, 02:46 PM)
Financial freedom is very simple. If you don't work, do you still have the money to survive? Simple right?
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survive for 100mths only. guess i have only 1 option thats to increase passive

This post has been edited by BooYa: Jan 23 2019, 03:39 PM
Slash21
post Jan 23 2019, 05:18 PM

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QUOTE(BooYa @ Jan 23 2019, 03:37 PM)
survive for 100mths only. guess i have only 1 option thats to increase passive
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Generally... for every 50K RM expenses you need per year, you need about 1M. So if you need 100K a year for all of your expenses, then you need about 2M. This is provided your investments return about 10% a year, spending 5% and re-investing the 5% earned. This way, your savings will continue to grow even though you spend 5% a year... again this is a general idea, I think most people will not only save up a large amount and spend it, they have to rely on some form of investment to provide additional returns.

This post has been edited by Slash21: Jan 23 2019, 05:22 PM
BooYa
post Jan 23 2019, 07:23 PM

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Don't think i can get 10% investment return. I suck at investment, only doing FD now with 4.x% return anually
woonsc
post Jan 23 2019, 07:45 PM

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QUOTE(BooYa @ Jan 23 2019, 07:23 PM)
Don't think i can get 10% investment return. I suck at investment, only doing FD now with 4.x% return anually
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10% every year is hard, but annualize for years, can achieve that.
Slash21
post Jan 23 2019, 09:45 PM

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QUOTE(woonsc @ Jan 23 2019, 07:45 PM)
10% every year is hard, but annualize for years, can achieve that.
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Yea it's true, if annualized for years it is definitely achievable. One of the ways could be through value investing, buying undervalued stocks.

This post has been edited by Slash21: Jan 23 2019, 09:47 PM
xcxa23
post Jan 24 2019, 09:39 AM

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QUOTE(BooYa @ Jan 23 2019, 01:39 PM)
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?
*
Technically, based on your goal.. if your terms/goal of FI jx cover expenses, congratulations! U achieve your goal

Mine passive income covered my expenses but being greedy/cautions, it's not enough. 2 reason
1. Inflation
2. Wants and desires

So I'm keep on working hard to gain more capital and those passive income re invested.


xcxa23
post Jan 24 2019, 10:47 AM

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QUOTE(Tucker Crowe @ Jan 24 2019, 10:18 AM)
yeah...

I achieved FI last year, but I want to retire in luxury

So continue working lah  biggrin.gif
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Don't wanna retired living too frugally..
Aim higher, work harder for retiring comfortably

B4 global slowdown, stock market profit able to cover my expenses as wel.. now... Lol.. burned approximately 1 year worth of my expenses..


BooYa
post Jan 24 2019, 11:03 AM

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retire in luxury/comfortable means we need higher number in passive right? i assume everyone have different numbers but in what income do you consider as luxury? 10k passive monthly? 20k passive monthly?

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