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.

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

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

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.

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!

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.

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.

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.

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.

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 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.....

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...

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