I don't think this is a good arguement. There are some mutual funds having >15% annualised return since inception too, not only the one mentioned here.

https://my.morningstar.com/ap/FundSelect/re...tab=Performance
This is for any Malaysian can buy, young funds with 5 years annualised return got two over 15% annualised return. A few older funds there with 10 years annualised return are around 13%, but I can confirmed if count since inception it was >15%, as you may know stock market in earlier time is much more profitable.

Also, Google about Soros hedge fund, or Buffett fund if you need oversea example.

Edit: if anyone curious what is the return of the unconfirmed money game fund - http://gllt.morningstar.com/iq0vzqd22a/fun...anguageid=en-GB

I worked in temasek group ,if they re going in, sure they wan full control of this company already ...

Please visit the Singapore website at: https://cpglobal.com.sg/
The Singapore office address can be found there. MAS regulation is mentioned on the main page at the footer (scroll all the way down).

A financially successful person doesn't necessarily means he is wise in investing his money. It is more likely that he became wealthy from his earnings and income from his occupation and profession.

Secondly, those who had already retired early doesn't necessarily means they are more financially successful than others... just that they retired early because they already have enough money and enough of the rat race.

What leh... just wasted my data quota reading the link, the writer was talking to a couple of people in their early 30's who were lacking common sense, they were earning minimal and were just making plans to retire early by age 40, and then realised they couldn't hack it.

It would be much better interviewing people who did really retire early years before the usual mandatory retirement age of 60 or 65.

I don't think anyone has posted here any 'suffering' or 'hardship' in making fi/re possible.

To me, it's just going along with the flow of life. Be thrifty and have savings and not spending beyond our means.

If able to stop working and retire earlier when there's adequate savings, take the plunge and do it.

But many will continue working till the official retirement and as long as possible because the job and profession is an important role in their life. It is part of their identity and image and persona.

Without their occupation, they are no longer the Boss, the CEO, Mr. Manager, the person in charge, the captain, the pilot, the teacher, Mr. Lawyer, Mr. Consultant, etc. etc.

Just Mr Dad, house husband/wife and retired person.

Sifu Hansel,
Very impressive. How to qualify as bank private client?
So, are you believe in the FI/Re stuff, or still in shares or asnb?
Thank you for sharing.
What advise to share with us wanna be wealthy ambitions?

This is in usd right?

Wow, another HNWI in this thread.
Very important to learn from sifu Hansel n Icemanfx.
Understand how these successful people think n do.
Achieve 10% of them amount, also new wealth milestone.

I believe bank clients are less than the actual number of ppl who have assets more than 3mil.

I know there are ppl who don't trust bank employees so they are not part of the private clients (they don't even apply to be premier customers), and some bought properties instead of just having cash in banks.

Those are not a good measurement of HNWI.

With only those as benchmark, we are still staying in a terrace house, driving proton jap cars, and tarpau food at hawker stalls.

That stats just goes to show Msia is a ridiculously low income nation.

Its nice that the bank tell me I'm a HNWI, but I certainly do not feel like it... and my peers in the same range agrees.

Like this, bro,... the bank gives you a 'title' because you keep 3mil RM with them. But I don't want the title. I want to be able to make money with money, so that I don't need to make money with time and effort.

Hence, the title is not important.

If one has a lot of assets outside the bank, it's the same thing,... why need the bank to give you a title ?

I think,... this is the same thinking sa many in a ctry like Msia who want the Dato', etc titles,...

I'm not hitting you, bro,... just giving my opinions only.

By the way, if you are really an economic student, then I'm really sad with my own performance because when I was a student, I only aimed to do well in my job. Never knew abt all these things until I made some money.

4% with net worth above 100k?? true or not?? I think this figure is under-reported.
P
everyone pays by cash, is it?

Then I'm on the 'unlikely' case. My paper assets in banks are more than my fixed assets outside of the banks.

Keeping CASH to preserve wealth is,... to me,... loss of opportunity cost. This is especially so if you are holding cash in the form of a weak and easily-wavered currency.

Waiting to pick up dead chicken is also loss of opportunity cost. If the dead chicken does not come, then he will be waiting forever, forced to 'enjoy' low deposit interest rates, which keeps going lower today as time goes by.

Then you might tell me it's a form of diversification,.. well, I'll diversify with instruments then, not with cash. Having said this,... I can never stop cash coming in,... cash is coming in faster than I can invest out.

Most important is one must have the knowledge and experience of where to invest with the best risk/return adjustments.

I'm aware of this,... but since you mentioned cash, so I followed what you said.

But if we speak on the basis of having instruments to invest into, then as I said earlier, I would choose a Private Bank that can provide me with programs that I can make more money on with my available money. If such a Private Bank exists, I wouldn't mind going with it.

Liquidity comes via a few ways, one is availability of gearing that the bank can accord to me.

My experience tells me all Private Banking institutions have gearing facilities, what we have to be careful of are the details with which we deploy this facility, ie the terms and conditions of the loan. And then,... what programs are available and how DANGEROUS those programs are when we deploy the facility onto the programs...

An eg would be : do they do mark-to-mkt activities every week onto our holdings ? If they do, then I wouldn't want to 'play' because it will be too strict. I wouldn't even join them in the first place.

Yes, true,... we can avoid,... but well,... to make larger amts of money, legally... I'm afraid we needed gearing, how else to do it ?? Perhaps,.. steal, or mis-use national funds ?

I am not aware of any other tactics,...

Then again, the term : large amts is relative.

Just to add:

If you live well below ur means, doesnt matter how much you earn you are on a right track for ur long term FIRE target.

Doesnt matter even if u earn below 5k or below 10k. I experience myself and i seen others...yeah we talk about being FIRE but most of us cant resist the tempting thought of that hot ‘bmws, mercs, audis or ducatis’ everytime we just started to gain more and accumulate more.

Better ask urself if ur burning feelings is more towards those expensive stuff everytime u make more... u can never be trully FIRE.

But pls dont misunderstood me that i cant drive, own expensive stuffs. When u are on certain income level and those expensive stuff mthly commitment is just less than 20% nett mthly income then no probs.

Just to add:

If you live well below ur means, doesnt matter how much you earn you are on a right track for ur long term FIRE target.

Doesnt matter even if u earn below 5k or below 10k. I experience myself and i seen others...yeah we talk about being FIRE but most of us cant resist the tempting thought of that hot ‘bmws, mercs, audis or ducatis’ everytime we just started to gain more and accumulate more.

Better ask urself if ur burning feelings is more towards those expensive stuff everytime u make more... u can never be trully FIRE.

But pls dont misunderstood me that i cant drive, own expensive stuffs. When u are on certain income level and those expensive stuff mthly commitment is just less than 20% nett mthly income then no probs.

The problem is when you earn in high income country, would you come back to low income country?

High and low income country is relative. Malaysia could be a high income country compared to Bangladesh for example.

In other words, if one earn in a low income country currently, would you try to achieve fi/re by living in a lower income country?

Is there such a term as ‘low/high income country? The usual terms are developed and developing countries and 3rd world countries.

I think it is the strength of the Malaysian dollar and its exchange rate you were referring to.

Our currency system is dollars and cents, same as in Singapore, Brunei, USA, Canada, Australia and New Zealand. The purchasing power of the dollar can be viewed as the same in each country. A millionaire is a millionaire.

It is different from other countries that don’t use dollar and cents, as like the Indonesian rupiah. You need thousands of rupiah to buy anything. And the wages is paid in millions. Can this be counted as earning a high income?

Thailand’s currency is the baht. Very few people know that there is satang. 100 satangs is equal to 1 baht. It is rarely in circulation because the satang is so low in value. (In some places like 7-11, the cashier will hand out a sweet in replacement of half a baht or 50 satangs.)

Would it be possible that the Malaysian cents could be the same as the satang in the coming future? We could only speculate…

Yes, if the country’s exchange rate is becoming worse and worse, it would be relatively easier to consider working abroad in seeking better and higher wages for the same effort and talent put into the job.

As it is currently, one could get better wages and income in neighbouring countries such as Thailand and Vietnam instead of the usual developed countries such as Singapore or Australia.

Sifu Icemanfx, you still an Economics undergrad, or, already working n swimming with investment?

I mean it respectfully, as I m trying to understand as forumers are of diff demographics, risk aversion, etc.

People like myself, no hope liao. Thankful to be healthy, working, etc... But nothing much to look forward to financially.

But, the things u all describe is like moon n stars leh. Malaysia OK place to stay mah. Why forumers complain? My uncle last week go KL GH, got this abdominal artery anuresym... We cannot afford mah, reference letter, n only KL can do Ops n hospital stay rm211.

I think if in Singapore, my uncle already cover white cloth liao.