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

______

This post has been edited by meonkutu11: Jul 5 2018, 12:14 PM

Park here...

got interested in FIRE from Reddit but dont know the best way to do it in Malaysia..

this might help me alot

With about 3% of adults have over us$100k net worth, those with practical experience is fewer than most expected.

Also working towards FIRE here. Current saving about 60% of monthly salary plus all of my passive income which is about 25% of salary.

My lifestyle is really boring to a lot of people though.

Hopefully those who already achieve FIRE will share their life experience.

Hopefully some of those will be willing to share their experience here.

anyone tried reit?

Great move ZeaXG.

Boring now for happiness and freedom in future. I think it is worth it.

Can you share the financial planning after FIRE, it is will follow 4% SWR or you have your own set of numbers/calculations?

Thanks. Well Done.

How to work with FIRE

I am glad that there are Msian blogs/forum on FIRE.

I am currently working in SG and intends to achieve FIRE before 40 and enjoy life in Ipoh.
I am saving about 42% of my current take home pay and currently taking part-time tuition jobs.

I have been living like a monk, most of the time staying at home

Actually I haven't set an amount for retirement. I just save as much as possible. Right now, I am keeping track of my passive income (which is mainly dividends from shares) to see if it can eventually overtake my salary. Once it's close to overtaking, then I'll see if I can FIRE.

Cannot just keep all the money. Must invest in health while you are young, otherwise you will not get to enjoy your retirement also.

Do you invest with heigher weightage in MREITs?

Well Done on your saving rate and passive income.


mind to share what is your age now? Also, what is your target annual income after FIRE (in term of % of current income)?

Keep it up!

Agree with that.

Keep up with your health and doing sports also can translate to more live cost saving! Instead of everyday having teh tarik and eating mamak with friend, spend more time in public park, jogging etc.
Its free.

My current age is 28.

It's hard to say because I am earning SGD salary but my plan is to have about RM3500 per month from my passive income portfolio when I reach FIRE.
I intend to diversify my portfolio by investing in income stocks listed in both SGX and Bursa.

Good job SetsunaSoon. I believe if you persistent you will successfully achieve your goals.

Keep on sharing Bro.

Thanks for the encouragement bro!

Let us encourage more Msian to join FIRE movement to end this meaningless cycle of rat race through this forum.

Just started to look into FIRE after procrastinating for quite a while due to life circumstances plus some excuses. Hopefully not too late yet!

That 3% figure cannot be correct.

For sure, a lot more people have over USD100k (RM405k) net worth.

This post has been edited by howszat: Jul 3 2018, 07:57 PM

About 20% in MREITs

That’s what we need to do. Give support and encouragement.
I believe FIRE is not only chasing for our own escape from rat race BUT will also later on contributes and giving back to society.

Welcome Bro.

Everyone has their own battle. That’s understandable.
But we need to start somewhere, so lets work towards it and keep sharing your journey.

Good luck!

FIRE is just glamorous word for be fugal and invest wisely. How many can give up the YOLO lifestyle and be frugal? To be frugal need discipline and dedication.

Yes, really need discipline and dedication.

But I think it is doable in Malaysia. Only from my short observations, many of us spending more than it should be on non-important stuffs and easy to follow others lifestyle in order to keep up the standard.

I’m consider myself lucky because working outside with a small team and less to none after hour activity. So less friend’s influence and more time with family.

FIRE makes no sense.

Retire earlier, then do what? Eat and sleep? FIRE is about saving and sacrificing like shit, and then what?

It makes more sense to find something sustainable to do over your working life, rather than make monetary achievements and earlier retirement the objective.

Don't go for these bullshit acronyms just like that.

The option to work or not to work. If you don't have FIRE, you work until retirement. By having that option, you can semi retire, quit your job and have more time to yourself.

Not a bro but a sis

For me it was a sudden realization / slap that I ended up in the "Rat Race" altho few years ago I've been reading on some of these topics. Thought I'd avoid the trap since it should be obvious having some "upfront warning" but little did I know all I need was a sudden downfall and I just got deeper into the race.

My goal is really to invest time now to free up time in the long run to do things I want to without worrying on the consequences.

Aiya, so childish.

More time to yourself to do what? Eat and sleep, and just generally waste your life away?

There's so much you can do. No need to force yourself to go to work, stress up over work issue, come back late because of work. You get to live how you like. Get up what time you want, do gardening, go hiking, go jungle tracking without big bosses breathing down your neck.

There is so many things you can do when you achieved FI. If you want to continue working, nobody will stop you. But the point is you have options and you can decide which way you want to go.

Many people as Ramjade said cannot give up YOLO and that why comes with a lot of excuses.

Maybe for example we can see Mark Chua who was also active in this forum. He chose to resign because he can afford to. Then by chance (maybe) became a well known author. And now he is back into what he likes and good at. He once quoted "I work because I want to Not because I have to"....so again, options.

And of course we do not want our body just rotten on the couch.

So why is Early Retirement THE objective?

Why force yourself, and get stressed about achieving RETIREMENT funds, so that you can do nothing after that?

Why not pace yourself before and after, and spread out the stress?

Aiyo, you missed the point.

Of course everybody wants to achieve FI. So that is not the point.

My point is there is a cost. You need to make sacrifices. You either make sacrifices earlier, or you spread it out.

Who said anything about not doing anything? There's so much thing you can do.

First, which job allow you to set your own pace? How many of us are lucky to end up with such jobs?
With FIRE, you have that option about setting the pace you like. If you don't work, there's still money coming in to pay your bills and whatever stuff you need. If you don't work you still can afford to go on vacation as money is coming in.

Make sacrifice early. Rather work until full retirement.

This post has been edited by Ramjade: Jul 3 2018, 10:43 PM

You are assuming the earlier sacrifices is best for other people. That's a naive assumption.

If you want to work until retirement, be my guest. No way I am working 12h+ and not compensated well for it.

This post has been edited by Ramjade: Jul 3 2018, 11:04 PM

Sorry, my bad

Good luck with your journey. It is not easy but it is not impossible.

I believe in order to keep us in-line, we need to have a clear current financial status and target (monthly/annually) that we want to achieve.

Mind to share (in %) what's your current expenses?

Who said anything about 12h+?

My post was making the point about "balance". I guess you are too inflexible to understand what "balance" means

Like I said which job let you have balance and how many are lucky to end up with that kind of job?
If we are not lucky, we need to think of ways out either by
1) quiting the job - no money how to quit?
2) finding a replacement - is not easy to find jobs nowadays?

My job is 12h+ and there are many people who are in the same boat with me. Besides if you have achieve FIRE, you don't need to think about being retrenh when economy is bad as money will still come in. Peace of mind is priceless.

This post has been edited by Ramjade: Jul 3 2018, 11:19 PM

1st rule in FIRE, know the difference between needs and wants and spend only on the needs
2nd rule of FIRE spend less than what you earn.

Here's a blogger who is closer to us than those mat salleh blogger.
http://singaporeanstocksinvestor.blogspot....ive-income.html
http://singaporeanstocksinvestor.blogspot....s-of-ak71s.html

This post has been edited by Ramjade: Jul 3 2018, 11:22 PM

Still don't understand?

My point was don't get flat out to achieve "retirement" as in FIRE, so you can do gardening after "retirement".

Have some balance. You don't undertand still, I cannot provide any more enlightenment.

Sacrifice early for future happiness, I will go for it.

It is not only about money, it translated to more free time.

More time to help you keep up with long lost family, doing volunteering, traveling, doing part times, etc.

Not everyone loves what they are doing but stay put because of the good package they received. (One type of sacrifice)


Anyway, I respect your input and wish you good luck!

Let me give you my example. Working 12h+/day with only one day off/week. Mine working hours are basically about 14h/day How are you going to find balance after work? I am all ears to suggestion.

I was simply saying that there is no clear line before/after that you need to achieve as far as retirement is concerned.

You need to consider what before/after factors are relevant to your way of thinking, and your personal circumstances.

But I would suggest that if you are working 12h+/day, you need to get higher paying jobs which includes getting degrees/diplomas/certificates. With PTPTN, you can get loans and qualifications.

Spend more time on getting a qualification, and less time on forums.

This 3% number is from a investment bank i.e. independent, is consistent with data from epf.

If you consider the average house price, as well as the number of Mercedes, BMW, Camry, Accords around, and 20k earners, you can see the 3% is too low.

Got a link?

Many of these are bought with borrowing, which is reflected in elevated household debt.

Actually my job requires a degree. No qualification, can't get in. Well that's what you get for working in Malaysia without proper labour laws. People in other country in the same field works like only 8 hours and get much higher paid.

Agreed. 3% is too low and when was this data publish.

Numbers published yearly, about 3% was last year.

This post has been edited by icemanfx: Jul 4 2018, 12:09 AM

I believe everyone have their own plan post-FIRE.

For myself it is simple. Free time I will dedicate to myself, family and giving back to society.

Pre-FIRE, I’m one of the lucky guy that while saving 50-60% of salary, my family don’t have to live too frugal. Thanks to company that provided me full expat package. Earning USD and spending with lower currency is a good stuffs.

Also back in Malaysia,
- No car loan (settled)
- No Personal Loan
- No PTPTN Loan
- No outstanding on Credit Card

Post- FIRE targeting to live same or slightly below what we are now. Insurance as usual, education fund for kids ready (fully paid property), excess money for charity works & travel oversea at least once a year.

Remember we will have different numbers to achieve FIRE but let it be reasonable and achievable. Most importantly we have free time to choose what we want to do to make us happy and lively.

"FIRE" is a scam ! Sorry to burst the bubble for those young ones who posted here....

It's a scam devised by the elderly, society, parents, bosses, including MLM/insurance etc (collectively known as "beneficiaries") so that the beneficiaries can motivate young people to work hard for them

It's a carrot that looks sweet, but eventually if you get it, it is just a normal plain old carrot.

The whole FIRE concept is wrong in the first place. It assumes "work life is shit, and retirement is heaven". For those young people who suffer much while working, it fits perfectly into their true experience. But no, the assumption is not correct.

Have you considered that to be in the heaven, you not only require financial freedom ? To be able to just live day-to-day plain survival life, you will not enjoy life. Meaning if you just watch TV, surf internet, gardening, exercise, (and all those activities that cost very little) which you thought is stress free and enjoyable life, then you will find out soon human beings are species which will get bored easily. Human needs more than food to live happily. Human is also greedy so living with minimum necessity will not make him/her happy.

In other words, human needs a lot of other stuff besides money to be happy. Love, sense of success, recognition, health, to be the best in the field, seeing people around you to be successful and happy......etc etc depending on individuals

Come back to the assumption that "work life is shit, retirement is heaven". If you feel that work is shit, then you are just pushing the blame to the boss. The core problem is not with the work, but your attitude ! The fact is you cannot face stress in your life. Who told you making money and work is easy in the first place ? They are not ! So, if you change your attitude that work is not easy and you have to deal with problems everyday, eventually you will get used to the stress, and work is no more shit. Work and problems are normal phenomenon which happens everyday. You should be happy there are problems for you to solve. Otherwise, you are redundant and have no job !

If there is no problem for one day, that is just a bonus, but entitlement.

If you can get your perspective right, then you will look at the problem as a challenge. If you can overcome any challenge in life, then nothing will make you unhappy.

I don't expect young people to understand and appreciate what I said. Because when I was young, I think like all of you too. But as you experience life when it unfolds, both extreme happy and sad events, you will reach a stage that everyday is a blessing to you. Work or retire has no difference anymore. No more mood difference be it a Monday or Friday. Work is just a small part of your life. There are many more important stuff.

So, don't be influenced by the FIRE concept. It tells you life is a drink which tastes bitter first, sweet later. Is the drink taste all the same for everybody ? Most probably not. What if you find out your drink also taste bitter later ? It will be too late.

If you can ditch the FIRE concept, change your attitude towards life, then you actually start enjoying a nice drink (with all taste of life) for the remaining 50-70 years...

It is only logical that only a small % of population can achieve FIRE, especially early FIRE. Otherwise, there won't be enough rats running in the treadmill to generate power to sustain the whole society. So, how to become the minority? To do what the majority can't or won't do. Spending is easy. Saving is hard. So, u must do the opposite. Savings is earnings less spending. Do your best to climb up the ladddr to increase earnings. Then, while earnings increase, do not increase spending like most people do. Maintain spending, increase savings. Invest the savings. That's it.

Many aim to achieve FIRE before age 40. Close to impossible unless u live like a monk after that. Why quit when earnings is at its highest? Delay to about 45 to 50 at least would be good. Meantime, I know it sounds contradictory, but u dun want to live like a peasant now. Whatever people enjoy now, u also go for it but less frequently. It's a fine line.. because spending begets more spending. This is where discipline comes in. Otherwise, life is too dull. Why sit at home when u r most youthful. Go for those low expense activities. "You dun want to save up sex for when u r old."..Warran Buffett.

Try me bro. I eat the same food in out on a daily basis (prepared at home). But I never get tired of them. Why? Because
1) I make sure they are nice
2) and all food turns to shit.

For me, nutritional value of the food is better than the taste. Again try me bro. I have the cash to buy the latest gadget, cars, indulge in YOLO lifestyle, go for overseas vocation but I don't. I don't follow the herd mentality of YOLO. I don't need those "wants" nor do I intend or embrace them. I prefer my simple lifestyle. Why do you think my friends look at me one kind when I am talking about FIRE, savings, investing? It's because they are not doing that and don't see the urgency for it. They prefer to "live the moment". They are eagerly awaiting the month's paycheck as
1) their bank account is dry
2) eager to go shopping/indulge in good food/go on expensive vacation.

I look forward to the month's paycheck too but not for the reasons above. I look forward as it's a means to increase my warchest, ready for deployment.

I don't drink starbucks/dine at fancy restaurants/o high tea/ buffet or buy branded clothes, buy apple products (except their ipad which I am still using to this day - ipad air 2). My clothes are all pasar malam/bundle shops clothes. My sandals cost < RM10/pair and can last a year. My Laptop and my phones last min 5 years. I eat at your regular economy rice stall. So try me bro.


Businesses will hate people like me as I don't spend. I only spend when is needed.

For me, I like the option to work or not to work rather than force to work.

The concept of FIRE is having the option to work or not to work and not force to work. o need to worry about when the next paycheck is coming in/no need to worry whether you will be retrench.

Agreed. If more and more people get into FIRE, there's nothing to power the economy as consumerism will drop. Again agreed. Never let inflation lifestyle hit you.

This post has been edited by Ramjade: Jul 4 2018, 10:35 AM

I agreed on FI, but not RE.

FI is a good goal to set upon, so that one can escape the rat race.

RE - it sounds glamour for younger generation.

Why it sounds glamour? Because we (or majority youngster) are in rat race, need to work long hours, little time and money to pursuit personal interest due to work commitment etc.
But once you get older enough and accumulate decent wealth aka FI, then the mindset might be change completely.

It is just like 20~30 years ago, eating outside like having dinner at fast food chain, seems like luxury, sound glamour, many people/kids are happy can get a meal at there.

But 30 years later, when majority people earning power increased, then taking fast food everyday is seemed become a non-healthy life by some.

So the view can change, so does on the RE issue.

So work on FI, and forget about RE.

You can't be RE when you don't have FI. Only think on RE when the time arrived.
Personally, I think RE is a bad concept to be introduced especially to youngster. More often I see RE being used/exploited in marketing tool to lure people into something vested interest purpose only.

More effort should be on FI, how to work towards it.

I think both is relevant as it let my generations know they have a choice then working paycheck to paycheck. The question is are they willing to take the leap of faith to start their journey towards FIRE.

The question is how many are willing to forgo their current lifestyle?

A lot of time, I see FIRE being used/exploited thoroughly (like selling "dream) in MLMs, or something try to lure investors or recruitment purposes, instead talking about how to achieve FI, or proper personal financial planning.

Age 25, aim to retire at 45 with RM500k in ASX while pay off all debts and live happily ever after. Why is it impossible?

Agree. Funny to see youngsters nowadays say want to retire by 30y/o.
Not impossible, but they don't know how much they need to do/sacrifice including face, friend, social life JUST FOR THAT UNSURE RE.

Once, a friend of mine ask me, what will you do if you have RM1mil now?
My 1st answer, do business and retire loh! That is what majority ppl will answer.
but wait, do business doesn't mean you retire. As long as you still need to watch that shop, you're not even near to retire.

My next answer, put 1mil in long term investment that can give at least 4-6% interest per year.
With that, you could have passive income of ~4-5k monthly and retire. Why not?

I would like to join this FIRE community too, as I have been working on it for years. I have joined the workforce for 3 years now since I quit my long stint in entrepreneurship and doing few years of freelance jobs, and I am 33 this year.
Currently in a stable job and being able to save in between 65% - 70% of my NET take home salary (after deduction of EPF/Socso/PCB). I live quite a comfortable lifestyle and providing for my mother. Apart from my employment salary, I have also built up a passive income of approximately 30% of my GROSS salary (which is tax free).

Based on my calculation (barring any unforeseen circumstances and assuming NO increment in savings amount) and a timeframe of 12 years (until I am 45), I should be able to achieve 100% of my current GROSS salary post-FIRE, while maintaining my lifestyle or possibly upgrading my lifestyle to include more travelling if the inflation remains low.

I agree that we need to work towards FI first. That will be the hard part.
Then we will have option whether to go for RE or continue working.

I see people misunderstand the concept of RE. It is not completely retire and doing nothing the rest of our life. But rather stop working on what we have to do and start working what we want to do. So, there many things that we can do out there.

Most of the time we see people not willing to give up YOLO attitude and trying to impress other people with what we have.

“We buy things we don't need with money we don't have to impress people we don't like."

Buying luxury things and living YOLO style will not give us permanent happiness.

And I believe can live moderately as same lifestyle while continue to have "happiness" factor in daily life.

I felt sorry for some of my friends which having good paycheck, buying Mercedes/GTR and living hipster kind of lifestyle while do not having an investment other than their own house.

In my industry which is depending much on the Oil Price, having a good financial planning and saving rate and good investment is a must.

During good old days, people especially US guys stock up with new boats and trucks (I guess in Malaysia also same) and when downturn, they are crying when get retrenched.
Thats is 40-50 years old guys. Crying!

-So start early, save and invest wisely to achieve FI, Then we have luxury to choose RE or not-

#I'm not selling anything so there is no taking advantage session here, just sharing.

Well Done. Keep sharing your journey. Thanks.

I achieved FI b4 40 yrs old....
During that time, i planned to open a barber shop....watch astro daily in the shop...chats with friends when they visited me during my barbershop openning hours.....i don't really needed the earning from the barber shop.....bcos i had passive income arranged.
Well that was the plan, then as faith or some called it, prelife planned journies.....i met a girl, went out for few dates......liked itthen continued a few more dates.....as times goes by......got married, got dependents, got new properties, got many more liabilities.......
Now, still have to work ......
My moral of the story is....yes, we can plan, but in the end it is someone higher up there are the arranger of life's journeys.
Who would have known GE14 changed the lives of many FIRE peoples.....

if i could have RM1mil, my answer as per bold above.
looks tired to manage a company..

Like what Cherroy shared, FI (Financial Independence) is the core component, RE.. hm.. things may change when U reach FI or reaching FI.

During my days, no such acronym, FIRE. Just focused on FI thus have options - option to continue working current job/Co., to change to another Co., to change entirely to another field that is more in-line with one's "purpose", no more "cold sweat middle-of-night awakening" due to monetary worries, etc.

Thus, if RE means freedom of options, FIRE has been around for ages, though known as a different thing .

------
Sharing:
1. Financial independence/freedom (FF)
a. Personally, I was supposed to be FF in my 40s (now late 40s) but life happens - divorce, complicated birth, children, etc. Now, pushing it back to 50s to ensure children's education option.

b. I know the numbers needed - looks scary at first but do-able as we keep our focus, live below means (also good for planet, less destruction/wastage) & keep on growing investment assets.

c. I save 100% of my investment returns + at least 20% of my net income (excluding EPF/CPF), + IF there's bonus, >=50% is saved for investments & remaining is gifted & used for "feel good".

2. Man-at-work Vs Man-avoiding-work
Maybe i'm lucky, i enjoy what i do +i get paid well enough to be able to save & invest. Not many enjoy what they do, thus they just focus on "getting out" - which should not be the case. If U do not like the Co., then move. If U do not like your field, then learn other fields while working - suffer the 80% to get to the 20% of cheese/dream.

3. Ignore the noise
Be CRYSTAL CLEAR on what U want, ignore others - it's your life. When you're crystal, U literally just smile at "others' good intention/advice" - they aren't U, they can say/feel/opine whatever.

Just like Ramjade, loads of friends/colleagues/relatives will say things like:
a. What - U eating that again? Every day, how can U tahan?
b. Why U buy local car lar - U can afford ****
c. Eh, buy together lar holiday home - together gether cheaper, worth it la..
etc.
BTW, most of these folks.. they are the ones complaining not enough $ lar, blame employer for not paying earlier during Raya/CNY/Christmas la, blame Gov for too much tax lar, this lar, that lar

Also, most of these folks are either overweight or not able to do body-weight excercises - telling me to eat better

Apologies for the wall of text - just sharing my FIDO (Financial Independence, Doing Options) for U to convert to better FIRE.

I think a lot doesnt understand the RE concept...

RE - retired early from being a kuli, then pursue whatever work that you like, without having to think about basic income for survival...

like being an artist or innovator...

Thank you for sharing this.

like people said "Fail to plan is planning for failure".

So I guess it is better to have a plan and work with that plan and adjust accordingly.

Anything beyond our control we cannot do anything.

Also, in planning always factored in contingency or safety margin to cover as best as we can things that we not expected.

Exactly.

Priority work towards FI and choose on RE later.

RE is still relevant just its up to individual to choose and live their post-FIRE.

Exactly!

You know, you don't need to reply individually every single post. You can multi quote.

I don't see myself retiring unless I'm force to retired.

My aim is to quit my job and work on my freelance.

For now my job salary ratio to my freelance income is 1 : 0.75, my aim is to reach 1 : 3 before i can really commit quitting my work.

Still long way to go.

reposting.

This post has been edited by kingz113: Jul 5 2018, 09:04 PM

what ever it is,....have a little plan, NOT overly focused on THE Plan...
else, one may missed the meaning of being alive in this world.

Plan is a must, just don't overly focused on it.....

wise words to ponder about indeed...
i liked this.....
“Suppose your monthly income is only 2,000, you can live well.
I can help you put money into five sets of funds.
The first $600, second $400, third $300, fourth $200, fifth $500.”
for more,..read this...
Asia’s Richest Man “Li Ka-Shing” Shares Advice For Young Entrepreneurs
https://addicted2success.com/success-advice...-entrepreneurs/

This post has been edited by yklooi: Jul 4 2018, 01:37 PM

In economics, the more people try to achieve financial independent, the more difficult it will get.

Most if not all passive income is from someone who worked e.g rental, interest, dividend, etc payment.

If many achieved financial independent, could the remaining working population sustain? Shrinking work force will cause wages inflation, drop in demand or both that diminish passive income.

This post has been edited by icemanfx: Jul 4 2018, 02:56 PM

My main point is not about nutritional food, YOLO, business people hates a miser.... etc

I'll explain again. My point is very simple :

1. FIRE concept implies that work is shit. That's why you strive for financial freedom and retirement early (ie don't need to work)
2. If work is not shit, but an enjoyable adventure you do everyday, then the FIRE concept is not needed anymore

Agree ?

To give you an analogy :

3. Those who believe in FIRE is similar to treating their job as a prostitute.
4. They feel that they get fxxked everyday in the job to make money
5. That's why they want to end their working life as early as possible

My point is :

6. If you treat your job as a gigolo instead, your job is instead fxxk other people and get paid
7. You help solve other people's problem by satisfying them
8. And you get paid along the way

Of course, it is just an analogy (I am assuming being fxxked is bad, and fxxk other people is good. This may not be true in real life)


Yes. It is hard to swallow, but the fact is those who believe in FIRE concept deep down is thinking they are "prostitute". They can't wait to retire.

The challenge is how to turn it around and become a "gigolo" instead

If your everyday work is to orgasm, your client/boss treat you like a god and get paid at the same time, who want to retire ?

Couldn't agree more with your analogy but how many lucky enough to lend a job they like? Majority need a job to put food on the table. So they force to take any job which comes their way.


But you are forgetting one thing, majority people my age don't save, don't invest and live paycheck to paycheck. They prefer to live the moment. Well is just going to backfire on them in the future.

good lord, i nearly choked on my drink when i read these

This post has been edited by wongmunkeong: Jul 4 2018, 03:59 PM

I like the analogy so much until my boss saw me smiling like donkey on the screen.
Gigolo vs Prostitute,

FIRE is just a sugar coated excuse or reason or justification for people to go through hardship at work. A carrot or a dream dangled in front of people for them to go through the present moment with a hope of a much better future.

Some calls it scam cause it's a long journey, 10 - 20 years down the road. A lot of things can & will happen in between. You may or may not obtain the carrot/dream or perhaps you may partially achieve what you wanted. Nevertheless, it's still a good motivation tool for people who are still headless chickens at work.

As mentioned by others already, the key is to strike a balance between FIRE & YOLO. Those are 2 extremes has been around since ancient time. It's probably known as something else back then & most likely be called something else in the future. So find your balance or your middle path between the 2 extremes. Everyone's middle path is different, there's no 1 single middle path for all. So those who are more tilted towards FIRE, stop imposing your ideals/beliefs onto those who are more tilted towards YOLO. Same goes to those who are more tilted towards YOLO, don't pressure those who are more tilted towards FIRE. Everyone's different.

For those who complain job sucks, boss sucks, client sucks, work sucks, I'm unlucky, s/he is fortunate etc etc. Learn to seek for answers within rather than blaming everyone & everything else. More often than not, the solution is within - just need to look & work on it.

You are looking everything from your own tunnel of vision, and assuming the world is as what you see

From my experience of almost 40 years of working life, I have encountered many types of colleague, staff, bosses...from high level to low level.

There are a very wide spread of characters and their approach towards their job.

Some are really passionate about what they do. While some characters are hopeless. They are unhappy no matter what they do

Proactive, pragmatic, positive, hardworking, easy going, responsible, strong leadership are some common characters which make a person a happy worker who can excel in their career. These are the "gigolo" type of workers



From day 1 I have already mentioned this to you in stock market forum :

Wealth is not accumulated through cost savings. It is accumulated through how you expand your income

Cost saving can only allow you to reach a certain level. To go beyond that, you must know how to make money

Yup, agree with you.
You need to use some of your savings to buy assets and get rid of those liabilities

Actually both are important.
https://stestocksinvestingjourney.blogspot....f-dividend.html
https://stestocksinvestingjourney.blogspot....-of-saving.html

This post has been edited by Ramjade: Jul 5 2018, 07:40 AM

I like the FI concept but not RE.

Retiring early at 40s seems a little silly when earnings potential is at its peek, as well as commitments - vacations, occational outings to nice places, trust/education funds for kids, probably a bigger house since kids have grown in size hence need more space etc. My belief is that do not shortchange you family when you have the ability to do so. Relying totally on passive/investment income to fund these things would be a bit of a stretch, unless we talkin about having an 8-figure pool already

On FI, I prefer the middle ground - struggle a little for now, hit a target, then I can cruise a little afterwards - by this I mean maximizing the 200k limit on both ASB and ASB2 accounts (via cold hard cash savings, not by financing) by 30 yrs old, and just let the interests compound to an aggregate of RM2/3mil by age 55/60, which I hope could provide a 100% passive net inc of 12/16k every month

So by 30 yrs old, I would know that I had provided a solid cushion on my retirement, and I also have EPF to support as well. Spouse portion is another extra too.

After hitting that goal by 30 then I can lax a lil bit more, increase my spending more here n there. Perhaps I'll finally go for equities to increase my risk exposure

But if life happens that requires me to withdraw those principals then that's another story

Thanks for sharing. good you have your own plan.
Can you share what is your total saving rate monthly (%)?

Thanks.

been follow this topic few days...
read most of the posts..

What i found myself is
before married, easily can hit FI since saving is easily 50% of my salary... no commitment at all except food and fun.
(which age to meet, i not really count)

after married, still ok, saving still in good performance, acceptable.

after got kids, FI is too far for me to achieve. dont even to think about RE.
Saving left 17% per month.

what can be done now is compound my previous saving learn to go for some investment + save the 17% every month

what my opinion is, FI/ FIRE is so challenge for those who have family.
so, start your financial planning as young as you can.

close to 50% of nett, with 1 roof to pay and extra 2 mouths to feed

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