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.....

what ever it is,....have a little plan, NOT overly focused on THE Plan...
else, one may missed the meaning of being alive in this world.

Plan is a must, just don't overly focused on it.....

wise words to ponder about indeed...
i liked this.....
“Suppose your monthly income is only 2,000, you can live well.
I can help you put money into five sets of funds.
The first $600, second $400, third $300, fourth $200, fifth $500.”
for more,..read this...
Asia’s Richest Man “Li Ka-Shing” Shares Advice For Young Entrepreneurs
https://addicted2success.com/success-advice...-entrepreneurs/

This post has been edited by yklooi: Jul 4 2018, 01:37 PM

mid 20's
started to work 5 years ago in KL after graduating from over seas (only do partime there)
no $$ helps from FAMA
70~80% of income used for investment

invested in properties, from just 3 years ago

have not let go of any properties yet. (so no flipping here)

having a 7 digit net worth....yes net worth

I think it is ok to get loans for the 1st one and 2 properties, assuming the pay is used to sustain the repayment of your first 1 & 2nd properties.
assuming again 10% down payment (100k for 1 million property)

the rental yield of these 2 properties must be definitely very good and stable to be able to get sustained income to get another property ...

thus whatever earned from the 2 properties will be use to get the 3rd property (30% downpayment at 300K for the 1 million property)

then, the rental yield of these 3 properties must be definitely very good and stable to be able to get sustained income to get another properties ...

it is amazing, how much money can be made (7 digits net worth) in 3 years

you hit the jack pot....repeat the cycles few times,, one can buy a village.





Ramjade....can try follow this?... since you're having some attributes similarity...young, frugal and money saving smart...

This post has been edited by yklooi: Jul 15 2018, 01:51 PM

I will make a gross assumption here....
this 80/20 rules will has great variance in the income grade.
those in the 3 digit income upon graduation
those in the 4 digit income upon graduation
those in the 5 digit income upon graduation
those that are not graduated
those that has great and financially sound parents,
those that are not so educated, experienced, exposed,
etc, etc...

my assumption, is also,,,,for those with 5 digit income, .....the chance of making a 1 million networth after a few years of working will definitedly be a lot higher than those at lower grade.

thus, we are all different and hopefully these posts, will just be a morning easy reads and be forgotten later in the day. For those shared posts, may not will fit with our current situation, our philosophy, our risk appetite, financial mishaps learnt, etc, etc and it will just be a good read to me....and definitely this is not a place for me to follow these posts as a guide/reference/point to start the FI/RE journey or what ever they are called.

Thus, not need to be envy, jealous, trying to emulate, etc, etc.....for one man's meat, maybe another man's poison.

a friend of mine shared this in my whatsapp this morning....

"We sacrifice our time on relationship/health to make wealth, then we scarifice our wealth to get back our families/friends/health".

thus no need to fights in support or oppose to these posts......we are all different in many ways......

need FIRE to be able to afford insurance premium?
if that is what you meant

good for you
thus, your circumstances may not be applicable to some too.
some may be too overly focused on meeting their preset saving goals thus maybe lead them to neglect or taking chances of possiblity of medical situations (may or may not happens) (young vs old chances)

thus i said earlier.....no need to fights in support or oppose to these posts......we are all different in many ways.

that is very true.

I had a close friend told me once,.....it is not a good holistic feeling to have in life, when one has reached a stage in which, one felt not much joy in having some extra money given to him.....
for he will just put it into his saving/investment vehicle....they just keep on adding up.
for he had preplanned and arranged most of the needs in advance.

he continue to reflect in comparison to the time when we felt so much joy when his boss suddenly gives him some extra pocket money as bonus.

thus will contentment rob something of one's joy in a way? (ex: the joy of having some windfall in comparison to others?)

yeah,...I had reached that stage too.....a small % in relation to my friend I guess, for a times,.....when I saw 10 cents on the road,.....I just pointed to the next guy and tell him to pick it up.
yeah,....i guess i kind of understand how my friend felt.....at that in that time.

that is very true (from what I saw and heard too)
if wanted to use collateral at time of business cashflow crisis.....
they don't really interested in how much machinery assets you have or how much they are valued now.
they will "MOST prefer" to be shown how much your business property or building valued

that bottom line of your is

WOW...more expensive in Malaysia than in Australia to wash a car.....
luckily, i think water in malaysia are cheaper, thus many car DIY in Malaysia

great to know that....
btw,...don't forget to spend some time to smell the flowers during your journey to FIRE.
at times, there are many things one may have missed during the course of reaching the FIRE goal....and those things may not be available anymore when FIRE...

if ".....they would rather spend more time increasing their active to the next level?"....then it may not FIRE.....
for they maybe financial independent but no able to retire early......

bcos they will keep working/looking for ways to increase their "good" to haves.....
and these actions/activities may have prevented them from being able to retire early

RE is retire early.....

try to figure this out......think as,
what is the minimum amount of money does one need to achieves his/her dreams?
not
what is the amount of money does one need to achieves his/her dreams?

bcos I think the 2nd question got no limits, unless one really knows what he/she really dreamed about what he/she really wanted.

well, unless they have a large pool of money, which they can retire and spend that money on their retirement dreams and at the same time their retirement dreams consisted of activities of making more money with another pool of money that they have set up specifically just for that purpose....
like some retail stock pundits in the securities office during trading days....
some are already retired and wealthy, they just spend their time there for the "environment"

This post has been edited by yklooi: Feb 13 2019, 02:28 AM

while waiting for his answer,.....
i for one would like that to be, but too bad my spouse is not Ivanka

i would lurk around lyn and doing some of the things as suggested in here....
https://www.google.com/search?q=what+to+do+...chrome&ie=UTF-8

while waiting for his responses,.....
I had a different view on your question.....my would be...
"Wow, so young already retired. Just wonder how much minimum passive income can make u retired?

now R and E earlier by 3 yrs from plan
now are in the process of trying to reduce 10% off from the expenses of my household need to have needs so that they are in synn with my passive income.
and hopefully the expenses of my household good to have needs will be able to be continuously generated from my investment income.

This post has been edited by yklooi: Jul 26 2019, 09:22 AM

not sure about others....but as for me, still new in R, just entered 70 days to date.
currently trying to do things that I had been wanting to do since decades ago.....
2 things came into my mind
keeping myself fitter, by trying to reduce my decades old beer tummy.
had managed to reduce the 1 inch....hope to be able to reduce to desired level by end of the year.
then will try to learn Thai language. Had books, CDs, VCDs and etc since 15 yrs ago...just hope that i could convince myself to start next year.

wish to know answers on your question from other veterans too.

I had them in property and some in UT & SSPN

I guess one must first know what is the MINMAL amount he/she needs to retire.
each individual need are not the same, as can be read from some examples posted......some needs to have FEW millions to feel that they will need to have a retirement.

what is your minimal amount need?

Then, I guess, it will never be a good time to retire, for the unpredictable will also be there no matter how much one have?
diversified investment may crash, family member got kidnapped, siblings gambled away his savings needed your financial helps, business failed, etc, etc...

Just how many % of our past n current retired population has more than A million myr in their bank to live for retirement?