Wanted to share my opinion on debts. A lot of people want to be debt free, because debt free is free from worries etc.

This is not entirely through in my opinion. While in the process of getting FIRE, taking debt can speed up the process, if manage properly. Yea debt free is good after you reach getting old or after you have the ability to FIRE. While still

I used to thought I need to be debt free at all time so that I don't have to worry about it. Now I realise that having a manageable amount of debt can be beneficial. For example:

i) Using credit card effectively to manage cash flow. This also includes the use of 0% balance transfer to spread out the payment over a longer period of time.
ii) Some loans like hire purchase repayment already calculate the interest till the end, so I find it no point to pay off it earlier (although pay off earlier will get some discount, not much).
iii) Share margin financing is such a great tool to borrow money at a low interest rate. Be sure to only buy good counter with SMF
iv) Some will refinance the house to cash out since the mortgage loan is only ~4.5%.

Things like that can help us along the way to achieve FIRE. The cash obtained from the above can be used as you like, e.g., investment

I wish to stress that the debt must be manageable and within your control to make it beneficial. Using debt is like a small leverage of your asset and it is a two-edge sword, if used improperly will bring terrible outcome

Feel free to discuss

For illness part - this is why exactly we need insurance. Insurance is crucial in financial management, it helps to avoid large spending on medical treatments. Without insurance it is quite common to find someone who has lots of saving only to find it gives to the doctors

As for losing job, if finance is managed well, there is usually a few months of backup fund to prepare for this situation.

Nice to have all the debts pay off. Does your company allow you to continue working after retirement age? (60 for Malaysia) I assume you are working in Malaysia.

if this case, is this good?

cars:

bmw 3 series 4 years old (fully paid off)

honda civic ketam 2 years (bought cash)

House : Loan rm400K to go (will settle in 5 years by paying extra)

other commitments : rm2.5K pm
Monthly no savings as all dump into house  (about rm8k per month)

Other passive income : rm3000 per month (accumulating) - in asnb cash rm600k

Expected epf in 15 years : 3.8mil
Summary cash in 15 years including saving : Approx rm5 mil in total with house fully paid off

cars might come n go as need to change every 10 years