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

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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
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
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
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
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?
BooYa
post Jan 24 2019, 01:29 PM

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I aim so high that im unsure if it is even realistic. like rm40k/mth passive lol.
BooYa
post Jan 27 2019, 01:40 PM

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I have a question, lets say someone with a strong active income (example rm100k nett monthly) do they look much into passive? or they would rather spend more time increasing their active to the next level?

This post has been edited by BooYa: Jan 27 2019, 01:42 PM
BooYa
post Feb 13 2019, 01:22 AM

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QUOTE(BooYa @ Jan 27 2019, 01:40 PM)
I have a question, lets say someone with a strong active income (example rm100k nett monthly) do they look much into passive? or they would rather spend more time increasing their active to the next level?
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Sorry guys, think I missed out some words. The correct question should be

(example SAVING rm100k nett monthly) means nett saving after all the expenses deduction
BooYa
post Feb 15 2019, 01:01 PM

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if one need to live frugally means their income is too low? no?

if your INCOME is 50k monthly, you SPEND 10k/month and SAVE 40k every month, i think you can live comfortably with that 10k/month and still get to save half mil a year


BooYa
post Feb 15 2019, 01:59 PM

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think he mention 'getting almost 15k after all deductions...'

This post has been edited by BooYa: Feb 15 2019, 01:59 PM
BooYa
post Feb 18 2019, 04:32 PM

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I know a few friends that save few million RM in bank and not own any property because they think those property for own stay is liabilities.. they achieve FI but havent RE

This post has been edited by BooYa: Feb 18 2019, 04:36 PM
BooYa
post Feb 19 2019, 02:41 PM

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Good question.
BooYa
post Aug 15 2019, 04:41 PM

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QUOTE(frostfrench @ Aug 15 2019, 04:28 PM)
I like to know can I stop work/retire early now, cause I like to spend more time with my son.

I am a single mum 40yo, son is 7 yo.

What I have at the moment is a single story house in cheras(all load paid) value at around RM400k. Am the rental income from the house is RM1800/month
I am living in a condo with my son,this condo still owe the bank RM550k, mortgage at RM3300/month

I have around 1mil in FD and recently I have inherited RM2mil (think of going to pur in FD)
Also around RM200k in stocks and Stashaway My
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It would be easier if you include your monthly expenses/spending etc.
BooYa
post Aug 29 2019, 08:52 PM

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QUOTE(max_cavalera @ Aug 27 2019, 09:05 PM)

But I don't want u guys to misunderstood as if I have saved millions to retire upon....
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Do you mean you RE but not FI?
BooYa
post Sep 12 2019, 04:12 PM

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If one does not have to worry about money means they achieved FI? or is there other way to determine if one have achieve FI? sorry newbie question.

This post has been edited by BooYa: Sep 12 2019, 04:13 PM
BooYa
post Sep 12 2019, 04:49 PM

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QUOTE(Win Win Inspiration @ Sep 12 2019, 04:24 PM)
The basic understanding/definition of Financial Independence would be - you have the income/reserve to sustain your desired lifestyle (on your own terms) without the need to work for active income.
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Ok *Goes back to work on a bigger nestegg* sweat.gif
BooYa
post Sep 20 2019, 01:53 PM

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my passive is currently RM4,xxx per month, plan to do mini retirement next year, moving oversea country to country every few months. But still worry if 4k passive wont be sufficient, actual target was to generate 10k passive per month
BooYa
post Sep 20 2019, 10:21 PM

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Bank lelong have plenty of fire sale / force sale

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