Exactly!

that's very impressive, mind sharing what you do as a freelance?

I find your thinking funny. If net worth is not valued at market price, then at what price? Cost price? Lol. Guess Warren Buffett is just a millionaire.

But your accounting freelance is basically trading your extra time for money no? Your time is 24 hours a day only. So there's some sorta limit (aka not so scale-able), unless your increase your earning per hour rates. How practical is it to achieve 1:3 day job to freelance income ratio?

Take it with a pinch of salt, but from my observation....accountants or whoever working in the finance department can climb up quite obviously. The CFO from my last MNC company climbed his way through from a normal exec from the Big 4. I noticed the same trend for those working in the accounts department in each of my previous employment. The key difference is, the one that tends to climb up very quickly exhibits very obvious leadership characteristics on top of being good at their work.

What I'm suggesting is, increasing your daytime job income via self-improvement should be the better path instead of increasing freelance income as the opportunity is much better no? If you suck at your daytime job, chances of you suck at your freelance is kinda likely too no? Both daytime job & freelance is basically trading your time for income.

IMO, the function of freelance is to gain extra pocket money or something to keep your mind active when you retire at 60.

Calculation of net worth should be at market price, whether we are talking about property or stocks. If you personally want to value at cost price, of course you can, but  u can't say u feel funny because others value at market price. Those who value their net worth at market price are free to apply a 10% or more discount to whatever net worth to derive their own conservative net worth. I personally will value stocks at market price and properties at average of last few transacted price. I dun apply discounts to this figure .

For both stock and properties , there are market yields and yield on cost depending on what base u choose for your denominator. In any case , yields have no relevance in the calculation of net worth. Net worth is new worth. Yield on net worth is another thing.

Yes,
Stock, reit also the same, and should be judged based on its current yield based on current price.

eg.
Bought a stock at 1.00, now is 2.00, it gives dividend 10 cents pa.
It should be viewed as 5% yield, instead 10%.

And decision to sell or buy from now on, should be based on the 5%, as it is the real yield.

As if the share price goes up to 4.00, and still gives 10 cents pa.
One may consider to sell it, as it no longer a good yielding stock, as it is only 2.5% yield, no longer a 10% yield (syiok sendiri approach)
Sell at 4.00, put in FD 4%, you get 16 cents, instead of 10 cents dividend. So FD yield is better than stock yield already.

But if one uses 10% (syiok sendiri) approach, it is masking the real situation.
A so called 10% yield return (10 cents) worst than 4% FD (16 cents)

RM300 per 3 hours, assuming you spend 3 hours each working day, that’s RM6k per month assuming you have roughly 20 clients. RM9k per month assuming you work 30 days for 30 different clients, right?

If you climb up the ladder, you could earn more than your freelance & network with higher profile people. The higher you go up, the higher level people you get to meet. Attend annual budget seminar = meet more high leveled people from your industry. Manage a whole department = network with other head of departments & more.

That’s why I was throwing some food for thoughts for you to reconsider growing your day job income instead of being too focused on your freelance. But don’t get me wrong, doing freelance is great too. Just that depending on what you’re planning to achieve at the end of your career, balance out between day job & freelance. 
The amazing wonders of having a more open mind; you’ll learn really fast from various different perspectives.

Freelance is a good step ladder to become own boss.
Many become own boss through this way as well.

While too focus on freelance job may jeopardize one job career path (climb up the ladder within the company as employed)

No right or wrong in between, it is personal choice, as sometimes, climbing up the ladder involves a lot of office politics as well.
A lot of time, not the best or better person get promoted. I guess many get what I mean.

Not mean to encourage or discourage which way one should go.

Yes, an open mind indeed is essential in learning path in any financial planning/career.

Yes it's a great stepping stone indeed. Agree with you, the key is to find the balance between both that can help achieve their personal long term plan; whether to become a highly positioned person in the corporate world before retiring into a freelancer or to leave corporate world earlier & build own accounting firm. 
Seems like the opportunity presented at you now is gearing you towards existing corporate life earlier to pursue your own accounting firm 
Opportunity comes & goes, capitalize on it while the window is still open.

Have you met or do you have client from the retail world?

Don't use invoicing software? You're referring to softwares like Autocount, MYOB, Peachtree or cloud ones like Financio, Biztory & QuickBooks? Then each & every sale will have an physical invoice generated? Only half of my sales have invoices i.e. sale to other businesses (B2B). While my B2C sales don't have any physical invoices. So ideally even my B2C should have an invoice too for my own recording & filing?

Yes I am facing a huge problem tracking my cost, especially to determine my COGS. My COGS fluctuates so regularly to the point that in my inventory, even for the same identical product, they has different COGS because they're bought at different periods. Is there any method to solve this challenge with MS Excel? Barcoding may solve this issue because each item details can be captured & tracked. But woah, the software alone will cost several thousand, the printer will cost several hundred & the stickers will cost few hundreds too. Then not to mention the labor cost to stick the barcode on all the products during inbound phase 

Ho mai gaddd.....that's basically a manual barcode method aka stone age barcoding 
Only viable for those al-cheapo misers lol, this method will make accountant smile but retailer puke    Looks like for this issue, somebody have to puke - either the accountant or the retailer

Ok, I'll put more thoughts into it & see if can innovate something from there or not 
If you're not a flipper, then find those places that you foresee people would prefer to rent than to buy. Then the rental market will increase & hopefully exceed the monthly installment. Yes it's mainly the market forces in action.
Hang on, I'm lost half way there cause I suck at accounting - need more layman terms
Basically when I buy, I add in the actual cost incurred value into the inventory?
But when I sell, i minus off an average cost instead? If that's the case, the figures won't tally no even when I sell off the whole inventory? Cause a variable cost is added in while a fixed cost is minus-ed out.

Can you enlighten us how does travelling can help a person accumulate income faster? How does a person can out do others in an interview by knowing other countries culture? May be applying as tour guide?

If you can spend few weeks in one country in one country that mean you are definitely don’t have any commitment to worry about.

Because the rat race is MORE stressful than that.

I like your spirit, bro,... what business are you in pls ?

I have seen some of my my older friends retire relatively early. One at 42 and another 40. Then there is my own parents who retired at 60 and 55. From my observation my Dad was happy to retire. Most of the days he just woke up at 5am, go for roti canai or wantan mee, read all the newspapers until 10am. Then have his 2nd breakfast and then wash his 2 cars. After a late lunch he would bug my mum or brothers with incessant questioning until around 7pm. Light dinner then bed at 9pm. The next day the same. Occasional trips (5 times per year). He passed away  almost 4 years ago.

My mom retired at 60. Regretted it and went back to part time work a year later. Did part time for another 5 years. She is 78 now and is very active. Goes from her kids house to house visiting grandchildren. Travels every month, gardening  groups, walking groups etc. She still complaina she is bored.

Friend who retired at 40. Very active in church so now works at the church like a regular employee but no pay

Friend 42 helps with the kids at home coz wife wants to work. Tells me that its worse than working. LOL

So from everything I have observed...I am gonna continue working at least part time .

I didn’t mean to dig up an old discussion, but in the interests of FairPlay and to show that there was no malicious intent in my initial declaration, I’ve included a snapshot of my latest (painful) tax returns for your perusal.
[attachmentid=10515501]

Hopefully this further clarifies and removes any co fusion or misunderstanding on my original post.

    He is blessed,
can't deny, but is mindset is good to follow..

Rich guys can splurge on big mansions, sports car, yatch, penthouses, fine dining, private planes.
But he is spending what is nessasry to bring the optimum "joy" and satisfaction to live comfortably and not in excess.
Save and prepare for future.   

Alright thanks, I get it. It's YOUR OWN interpretation.

By the way, what do you call someone who has enough money that he never has to work again, but is not retired? You can't call him RE