That 3% figure cannot be correct.

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

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?

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.

Conclusion: average ktards income per month is above RM20k

Don’t worry mate. Let them in their non-believers and denial.
You know yourselves better.
Some of them in that position maybe because they are older than you but not started early or maybe just ignorance.

Keep it up! Keep positive.

Haters will always be hating and "grapes that we can't eat is always sour". So don't mind them. Impressive achievement you have there. I know of 5 figures earner of early 20's but are nowhere close to what you achieved due to lifestyle spending being the priority than portfolios growth.

Great explanation.
Dose that mean need 80k pa for rental only then meet he 8%pa? meaning 6.6k per month.
A few houses I see worth 1.2 also rented out as 2.5k per month at lost 3.5k barely touch 5k....

Meaning the owner is at lost?
I thought as long as the rental can cover all expenses and loan amount (per month) consider an ok condition? If having surplus eg: loan 400 per month rent out 800 per month.

Property is long term asset/low liquidity you calculate at book/cost value. Furthermore you have debts on the property.

Stock is a short term/mid term asset/high liquidity you calculate at market value.

Use this method will be easy and handy.

On the other hand, you can apply fair value to your property / stock if you really want to calculate the yield. Of course Fair Value is very subjective but you will have better feel. E.g. Bought XXX apartment 400K. Current Market Value is 600K. So you think you can sell it immediately for 560K. Then U can apply 'Fair Value' as 560K to use it in your yield calculation. Fair Value is very useful but you have to be honest. If you buy 500K and current market value at 300K and actually you think you can only sell it at 260K, so you will apply fair value between 260K-300K.

Applying which value in yield calculation will depends on your honesty and feel good factor.

BTW, I'm not talking about Accounting for company.

Agreed.
Lots of folks can't even hit the basic level of financial freedom (ie. BASIC living, not lifeSTYLE) BUT one shot want to hit level 2 or 3 liao.
Step by step is the best - achieve "level basic" first, then think about adding gravy if wanted. If i looked at the gravy only, instead of hitting the basic living first, i'd have totally given up before trying

----------------
To share simple maths on "how much is enough" (my own PoV la, for those who's unsure or totally no idea how much they need):
1. Life style expenses wanted in future value of $ = current value of $ * (1+4%)^years
eg. 60K pa *(1+4% inflation per year) ^20 years time
= $131,467.39 pa needed in future value of $

2. Minimum investments/savings needed to generate (1.) pa = $131,467.39 / 4% returns = $3,286,684.71
Note - eg uses FD only. If U are an asset allocator & investor, 6%pa on total is very doable, thus need way less seeding / investment assets.

3. To be safe, assuming we spend only half of (2.) + invest the other half to keep ahead of inflation =  $6,573,369.43
This is the safest place to be - high probability to be able to leave something behind +have safety buffers.

NOTEs:
a. the above, even (2.) is assuming we do not eat into the seed capital / investment assets, just skimming 4%pa off the top, thus (2.) works as if one doesn't plan to leave $ behind. To be even safer (i'm a worrier, so...)

b. (3.) would be a "safer place" + U may want to run Monte Carlo simulations on your projections (at least 1000 iterations) if your assets are allocated in highly fluctuating investment assets, eg. in stocks, businesses even properties (look at rentals for residentials & offices nowadays due to the overhangs)

Just sharing PoVs ya - no absolute right/wrong in personal financial planning. It is PERSONAL after all.

Source? Individual or household?

I actually didn't know how much i would need for a comfortable retirement for me in Msia even going back 1-2 years ago which is why i was so interested in retirement/cost of living threads esp in this forum (which actually is the only forum that i read/join). My relatives were all telling me how stupid i was quitting my job when my package is so good and that i could easily work another 5 years and build up a bigger retirement fund. My siblings are all calling me stupid fool behind my back!! I then tell myself - how much is enough? My wife has been bugging me for years to retire (as she is home alone most of the time as she has stopped working at 50 and we are the same age).
If i were to live and retire in Sydney (next year), then the assets i have would only give me a very modest retirement because cost of living is very high in Sydney esp when you want to enjoy a bit in life like eating out and overseas travel because Sydney is so far away from everywhere! I have been doing a detailed budget each time (last 1-2 years) recently when i go back to Kl for a holiday (i have been going back to KL for holidays every 5 months for about 4-5 weeks and i love it!) and i have been doing this for the past 4-5 years. I spent about rm3k/week (not incl my air tickets) when i was on holiday staying in Bangsar Baru (i inherited the house from my mum) and this involves eating out everyday and short trips to nearby towns (Ipoh, Muar, Melaka). I also pay for those who accompanies me around and i would eat at canton-i, i-dragon, Din Tai Fung, Greenview Rest and Overseas Imbi quite a fair bit but i don't usually order live seafood (because my wife doesn't allow me to eat live animals/seafood due to her religion!). I am not going to spend like this if i retire in KL (we might go out and every every couple of days but not everyday!). I only concluded (in the last 2-3months) i have got much more than i need  to retire in Msia but knowing my thrifty lifestyle that i have led in the last 40 years in Sydney, i think i will need a lot less than rm3k/week when i am really retired next year in Msia.
Also the fact that i am an easily contented person which is the most important (i feel) gives me even more confidence that i have enough to live on and i don't need to work more.

Added later: Lastly i would like to add this - i think i will probably need about rm5-7k/mth for the lifestyle i am currently used to and even though my retirement income were to skyrocket and hit rm30k/mth, i think my lifestyle will not change much from what i am doing now and also my satisfaction/happiness level will not have increased at all since i am already very happy with my lifestyle now.

Not sure if anyone shared this but this guy's blog (Mr Money Mustache) can be a good start to setting a frugal mindset.

Here's the introduction post in his blog...
https://www.mrmoneymustache.com/2013/02/22/...-one-blog-post/

Actually when you look at someone who is frugal/thrifty, you will find that with such attitudes, you will definitely cut down your living costs. I never thought (in my earlier days of my youth) that frugality was important for achieving early retirement/financial independence. I always thought it is crucial (absolutely compulsory!) to build income-producing assets (by gearing) and i have always lived with this attitude all my life until recently in the last couple years when i start to think more deeper about retirement expenses. No doubt building income-producing assets is important but if one doesn't have a very expensive lifestyle (usually because they are frugal), they require a lot less income-producing assets to sustain their lifestyle and hence can become FI/RE because any extra income will just add on to their buffer (as an insurance for periods where their expenses may grow due to unexpected events in life like major illness, etc...).

A lot of my friends in their 60s (in Sydney) are still working because they tell me they need A$55-70k/yr in expenses. All of them are professionals and they keep telling me they cannot retire because they don't have much income-producing assets. All have children who are in their 20s/30s and independent. They tell me that when their children were little, they just couldn't managed to save as everything comes in goes out immediately and they have been made redundant a couple of times. I tried to convince them their lifestyle is way too expensive (a lot of eating out - oldies like them like to drink good wine with some reds costing a couple of hundred bucks). When i analyze their lifestyle, i can easily see they can reduce their living costs by $15-20k/yr but they are accustomed to that kind of lifestyle so cutting down will become miserable/intolerable for them so they are happy to continue working. They tell me they will not stop working until they get retrenched.

Actually when you look at someone who is frugal/thrifty, you will find that with such attitudes, you will definitely cut down your living costs. I never thought (in my earlier days of my youth) that frugality was important for achieving early retirement/financial independence. I always thought it is crucial (absolutely compulsory!) to build income-producing assets (by gearing) and i have always lived with this attitude all my life until recently in the last couple years when i start to think more deeper about retirement expenses. No doubt building income-producing assets is important but if one doesn't have a very expensive lifestyle (usually because they are frugal), they require a lot less income-producing assets to sustain their lifestyle and hence can become FI/RE because any extra income will just add on to their buffer (as an insurance for periods where their expenses may grow due to unexpected events in life like major illness, etc...).

A lot of my friends in their 60s (in Sydney) are still working because they tell me they need A$55-70k/yr in expenses. All of them are professionals and they keep telling me they cannot retire because they don't have much income-producing assets. All have children who are in their 20s/30s and independent. They tell me that when their children were little, they just couldn't managed to save as everything comes in goes out immediately and they have been made redundant a couple of times. I tried to convince them their lifestyle is way too expensive (a lot of eating out - oldies like them like to drink good wine with some reds costing a couple of hundred bucks). When i analyze their lifestyle, i can easily see they can reduce their living costs by $15-20k/yr but they are accustomed to that kind of lifestyle so cutting down will become miserable/intolerable for them so they are happy to continue working. They tell me they will not stop working until they get retrenched.

I don't quite understand what you might mean by 'fulfillment' but after 60+, most people work because they need to (because they don't have the funds to sustain their current lifestyle). I can tell these people dread their job because they complain they are all required to meet strict kpi(s). If given the choice of sitting at home and going to work, you can guess which they will choose. They are all wage-earners and they are unlike people with their own business where all profits generated goes to their own pockets and thus the sense of fulfillment comes in. I am 56 and i can tell you my job doesn't give me any fulfillment. I am strictly in there for the money. I don't have any stress at work because my kpi(s) are easily met and i am bored at work because i am so free which is why my wife keeps reminding me about me getting 'gaji buta'. However, not everyone is as lucky as me and a few of them comes to badminton to 'de-stress'. If they had got used to surviving with a cheaper lifestyle, i suspect a lot of them would have stopped work. After all, most of us migrated because we hope life would be better (and easier) in a foreign country - if we need to continue to work till we are in our seventies, would you think that migrating to Aust is a mistake? All the friends that i was referring to have all migrated to Aust from Msia in the 70/80s like me.

As mentioned by @MUM, it depends on several factors. Is it doable? Yes of course but is it wise? That's something to consider.

Car loan is a very straight forward one, due to its fixed interest (nominal interest rate). So if you can generate more ROI than your car loan's Interest Rate, then just keep the car loan & continue using your extra funds to generate better returns. Can service your loan & can even get some extra pocket money for yourself.

Home loan is a bit different cause the rates aren't fixed, it's a bit more complex but same logic applies: If you can generate better ROI than your loan's interest rate, keep the loan & use the extra funds to generate more money for you.

There's good debts & bad debts, understand the difference & learn to leverage on good debts to bring you higher. A lot of people here has the mentality that debts = bad bad bad. Hope this opens up your vision a bit.