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> 2 mil more than enough to retire

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FollowMeRogerThat
post Jun 17 2021, 12:22 AM

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give me i show u how
Garysydney
post Jun 17 2021, 06:10 AM

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QUOTE(greyPJ @ Jun 16 2021, 10:23 PM)
wah very generous hor Aussie.

i miss asian tea house rendang, that time 3 dishes and rice so little, i could eat 2 plates.
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Wah - your memory still so good ar?

Asian tea house closed about 20 years ago but the boss made so much money that she could afford to buy a few houses in the surrounding areas. I don't know if you remember her daughter who sometimes manage the till - she was always sulking at customers but i must admit their food is pretty good. Imagine how much tax the boss avoided paying in the 80s since their business is cash only. Everyone in the Eastern suburbs remember Asian Tea House as they were probably the first few Malaysian restaurants to open there. As it was very close to UNSW, most Malaysian students who studied at UNSW would have remembered it. From memory, the lady boss name is Slyvia and she was from Seremban. Slyvia would probably be in her 70s now. There are quite a lot of Malaysians living in the Eastern suburbs smile.gif
KLthinker91
post Jun 17 2021, 06:17 AM

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yeah but can you get Rm2 mil?
Bill888
post Jun 17 2021, 06:30 AM

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2 millions in US dollars ok but not 2 millions in ringgit lol.
TSeddyooi
post Jun 17 2021, 04:40 PM

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This post has been edited by eddyooi: Jun 17 2021, 04:43 PM
TSeddyooi
post Jun 17 2021, 04:43 PM

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those with 4 m will have a helli good life .... but its so hard to achieve 4mil for nomal people like us
TSeddyooi
post Jun 17 2021, 04:43 PM

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QUOTE(KLthinker91 @ Jun 17 2021, 06:17 AM)
yeah but can you get Rm2 mil?
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2 mil most of us can get
ohitsme
post Jun 17 2021, 05:12 PM

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loan everything settle and yearly travel will be enough
at what age plan to retire?
KLthinker91
post Jun 17 2021, 10:41 PM

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QUOTE(eddyooi @ Jun 17 2021, 04:43 PM)
2 mil most of us can get
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"most"?

The median household income in KL is Rm8000/month. let's say one works for 35 years. how is one supposed to save up that much?
Sum Ting Wong
post Jun 17 2021, 10:48 PM

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2 million saving is doable.
working lives: 25 years till 60 years old= 35 years= 420 months
2 million / 420 months= 4.7 k per month saving.
for ktards this saving is doable as monthly earning is 20k/month.
greyPJ
post Jun 19 2021, 08:33 PM

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QUOTE(Garysydney @ Jun 17 2021, 06:10 AM)
Wah - your memory still so good ar?

Asian tea house closed about 20 years ago but the boss made so much money that she could afford to buy a few houses in the surrounding areas. I don't know if you remember her daughter who sometimes manage the till - she was always sulking at customers but i must admit their food is pretty good. Imagine how much tax the boss avoided paying in the 80s since their business is cash only. Everyone in the Eastern suburbs remember Asian Tea House as they were probably the first few Malaysian restaurants to open there. As it was very close to UNSW, most Malaysian students who studied at UNSW would have remembered it. From memory, the lady boss name is Slyvia and she was from Seremban. Slyvia would probably be in her 70s now. There are quite a lot of Malaysians living in the Eastern suburbs  smile.gif
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wah you really an old timer, hahaha.

there was one restaurant called The Eating House at Belmore Rd, the boss called Colin not sure if you know him. i worked there for several months during holiday.

when you back to Malaysia and happen to be in penang, let me know i belanja you eat yummy hokkien mee and ckt. smile.gif
Garysydney
post Jun 19 2021, 09:42 PM

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QUOTE(greyPJ @ Jun 19 2021, 08:33 PM)
wah you really an old timer, hahaha.

there was one restaurant called The Eating House at Belmore Rd, the boss called Colin not sure if you know him. i worked there for several months during holiday.

when you back to Malaysia and happen to be in penang, let me know i belanja you eat yummy hokkien mee and ckt. smile.gif
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What a small world!!

Yes - i know Colin. Colin is still in Sydney but i don't think he is doing well (he would be in his 70s now). There were three partners who started Eating House - i think they were all taxi drivers before they became partners in the shop. I used to go to Eating House a lot as i lived in Randwick. The partnership split a few years later and Colin opened another eatery in Avoca Street (cannot remember the name) - it is opposite an Indonesian restaurant called Bali Restaurant.

One of the other partners (Henry) opened up Sing Ma in Kingsford and it was doing very well until about two years ago. Henry is from Batu Pahat but he got involved in some illegal business employing Malaysians and promising them PRs. I think he charged them a big sum of money for sponsoring them as Aust PRs and he was busted and i think he got a criminal record. He is now back in Batu Pahat now and cannot get back to Sydney because Aust Immigration will not renew his PR due to the criminal record. Do you remember Henry?
greyPJ
post Jun 20 2021, 10:43 PM

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QUOTE(Garysydney @ Jun 19 2021, 09:42 PM)
What a small world!!

Yes - i know Colin. Colin is still in Sydney but i don't think he is doing well (he would be in his 70s now). There were three partners who started Eating House - i think they were all taxi drivers before they became partners in the shop. I used to go to Eating House a lot as i lived in Randwick. The partnership split a few years later and Colin opened another eatery in Avoca Street (cannot remember the name) - it is opposite an Indonesian restaurant called Bali Restaurant.

One of the other partners (Henry) opened up Sing Ma in Kingsford and it was doing very well until about two years ago. Henry is from Batu Pahat but he got involved in some illegal business employing Malaysians and promising them PRs. I think he charged them a big sum of money for sponsoring them as Aust PRs and he was busted and i think he got a criminal record. He is now back in Batu Pahat now and cannot get back to Sydney because Aust Immigration will not renew his PR due to the criminal record. Do you remember Henry?
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no i dont know henry, i only know the chef gilbert, also from johor.

if you frequent Eating House alot then we must have met before, lol.

you still remember their famous combination kuey teow? oh man what a memory.
sniper on the roof
post Jun 20 2021, 11:01 PM

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QUOTE(eddyooi @ Jun 14 2021, 03:49 PM)
1 mil leave in epf or any generating interest
calculation:
1 mil = 5%@ rm50k per year rm4k per month passive .... this money can leave it to compound interest (A)

1 mil to spend ... assumption no interest (B)

i million bahagi 12 months bahagi 20 years = rm4166 per month
so easy to retire with such amount
emergency can use the funds from[B] A[/B] to tambah.
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https://www.dosm.gov.my/cpi_calc/index.php

Go count yourself
Garysydney
post Jun 21 2021, 12:47 AM

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QUOTE(greyPJ @ Jun 20 2021, 10:43 PM)
no i dont know henry, i only know theĀ  chef gilbert, also from johor.

if you frequent Eating House alot then we must have met before, lol.

you still remember their famous combination kuey teow? oh man what a memory.
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I used to go Eating House a lot as i was working in UNSW initially. I think Eating House opened some time in 1984 (??) and was there for a few years.

If you go there now, Eating House is where KFC is now.

From memory, Gilbert is also from Batu Pahat. As i have been living in Sydney since 1981, i know a lot of Malaysians in the Eastern suburbs. A lot of my Malaysian friends there are already in their 70s now and we have known each other since the 80s/90s.

If you had worked at Eating House back in the 80s, you would probably be in your mid to late 50s now smile.gif

This post has been edited by Garysydney: Jun 21 2021, 12:48 AM
icemanfx
post Jun 21 2021, 08:41 PM

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Those have > rm2m is fewer than most expected.

backspace66
post Jun 21 2021, 08:51 PM

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QUOTE(icemanfx @ Jun 21 2021, 08:41 PM)
user posted image

Those have > rm2m is fewer than most expected.
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These are active contributor, if you stop working it will no longer be part of active contributor. Other than that after 55 you can take all the amount from epf even if you still continue to work which will go into akaun emas.
TSeddyooi
post Jun 22 2021, 01:04 PM

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QUOTE(icemanfx @ Jun 21 2021, 08:41 PM)
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Those have > rm2m is fewer than most expected.
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fake news

those in mnc easily rm2-3 mil by 60yrs old

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