garysydney

First of all, I would like to thank you for the contribution and sharing. This is what this thread for. Not only people who stay/living in Malaysia but also for those who still love and planning to come back to Malaysia.

As already shared by our friends here, “how much is enough “ is always depending on individual (or family) lifestyle and commitments you have current and Post-FIRE. Also be aware and prepare of cost of healthcare and house (should be ok for you as you inherited the house), kids education fund.

My personal observations from what you shared, you already in a good shape (financially and attitude/mindset) to go into FIRE phase. Many people not only don’t have the enough reserve/saving but worst their lifestyle cost is way beyond their capabilities. (Dont event talk about investment)

Myself (family with one kid) just entered this new phase (or rather called semi-retired/in transition) and currently learning and starting to do new things to keep myself busy and hopefully earning additional income.

I just completed repatriate back to home from neighbour country where I got NETT income USD127k per annum, company shares, cash incentives, accommodation and transportation provided. I’m mid 30s.

Now living with RM15,000 permonth that includes giving to my father, in-law, installment/top up of my properties.

My decision to fired my boss after I received my wife’s blessing.😁

I hope you will make a good decision for your life and your family. You and your wife know better about your financial and your capabilities.

Keep on sharing Bro. Thank you.

If net worth including car, and home, then it is not good yield stick to determine FI.

It is ability to generate passive income from the gross/net worth which is more important that determine the FI.
Eg.
A lives in a house that worth 5.5 mil, but has nothing else, A net worth is 5.5 mil. But has zero passive income, A is not FI at this point, until A liquidates the house.

B lives in 500k house, and has other investment/asset worth 5 mil that generates 5% average or 250K pa passive income, B is FI.

Cash money is needed for paying daily expenses, not net worth.
Don't be surprise this cashflow management 101 that even some big corporate, listed company failed to do so.

6% consistent passive income is not a figure easy to achieve.
Also, there is no guaranteed that EPF payout will be 6% as well.

EPF shouldn't be taken into consideration for FI at the moment, as you can't touch those money until reach retirement age.

Yes sir. My kid 1yr plus. I bought one flat in oversea for his education fund.

In 10 years time, your epf's 1.5mil is not the same as today's 1.5mil in epf. There is inflation every year and therefore the 12.5k passive income (in 10 years time) will be a lot less in today's term.