Hi guys,
Newbie here..
I'm currently just started my working life and I'm obsessed with FI. Would like an advise or two on how to improve my money management so here it goes..

I'm 23 this year just started working 10 months ago in reputable M&C.
Basic salary is about 3.6k
I have a side business that has been running for about 6 months which gains me about 3k(during starting period)-17k(currently) per month.

Currently I only have about 10k in my savings account currently..

The rest of the money i stored in :
FD = RM58k
ASM = RM42K
EPF = RM16k (inc self top up)
Stocks = RM11K
BTC = RM57k++

My target has always been getting RM1M before I'm 30 (planning to get married that time)

At the moment, my strategy is to keep pumping my EPF self contribution to gain as much compounding interest as possible (i don't need the money currently so I'm okay if the money being locked up there)

Any advise from sifus on how to improve my goals? I've been working hard on it and trying hard on how to improve my strategy. Any advise will be appreciated

This post has been edited by ywliang96: Sep 18 2019, 11:55 AM

I’m considered myself quite lucky where I have both house & car (FAMA sponsored)

So I’m planning to take that advantage and save/invest as much as possible for the future.

Currently my expenses is about RM1k++ and the rest go to EPF. I target myself to top up at least 3-5k for EPF every month and the rest of the money goes in to Stocks/BTC and some to e-FD (emergency fund)

My long term goals has always been having at least 2M in my EPF which roughly have 120k in a year (assuming EPF stays at 6% interest ) to retire comfortably

But short term is 1M in 30

This post has been edited by ywliang96: Sep 18 2019, 12:23 PM

If not mistaken, EPF can withdraw when it hit 1M.. so that’s another goals of mine as well haha..

Yes BTC is risky but I’m willing to bet it over it when I’m still young and can recover my losses if there’s anything wrong. I wouldn’t touch highly speculative investment if I’m 30/ commitment though..

And my side income isn’t very fixed.. when I first started I barely earned about 300 per month. Just that recently it got better but I’m not sure how long can it sustain especially when there’s competitor popping up. As for leaving my full time job, I’m still in a huge dilemma because my full time job is in a reputable company and I’m afraid if I leave I would miss out my chance. At the moment I try to juggle both and it leaves me extremely drained out if I’m honest. 😧

Yup I'm really grateful for that FAMA support but I'm planning to take advantage of it and get as much savings as possible so that can live comfortably in the future with my kids haha.

I’m 23 years old with a business operation going on and I have major goals like this FIRE.

I’m very sure most of you over here are at their 30s or probably near retirement?

Would like to know where did you put your money to generate income?

So far I tried to max my 60k self contribution EPF, and consistently put money in stocks to gain dividends. Still looking for more options actually....

This post has been edited by ywliang96: Dec 7 2019, 09:30 AM