max 4-5k per month only

Can but don’t.
It is time to do things you enjoy while making money.

i support...

young ppl to take more risk, explore more opportunities, build wealth, sucure future n retirement...

and old ppl to park everything in epf... 

one should have at least matching account size outside of epf...

wifu doing 60% salary deduction into epf now... she dun wan to shake leg yet...

Where got ppl buy new house renovate?

FIRE is only for those who wants financial freedom and passion for those who wants to pursue their own ideas and lifestyle 🤦‍♀️ a good example would by my dad who already fire since early 1990s and yet he is in 80s and doing round the world trip doing adventurous stuff like hiking and nature  trips as when you FIRE you would live even healthier life than ever 🤦‍♀️ rather doing the rat race which would shorten life more

If you got property.rental, you need to continue filling until you die.

What are the key things  to do 1 year prior to retirement? 🤔

Same here.. 31 year old corporate slave..
lately with this economic conditions, company politics and top management direction has gone out of control.. whole management team feeling extremely demotivated and everyone looking to leave already..
was planning on latest FIRE by 35, but thinking if i should move it forward to end of this year or next year

Well I'll just say I'm not your average 31yr old if I can manage to RE at this age.. I used to work 18-20hrs a day 7 days a week from 23-27 and even fell asleep behind the wheel and got into a car accident on my way back to office one day, then managed to climb to c-level position in a local plc since I was  27.

So I guess feeling burnt out at this age seems right for me.. Also coupled with the extreme toxicity, politics, backstabbing and betrayal by the owners of my current company eventhough I made them extremely rich this year.. Yeah this is really tiring..

I'm not really sure about FI though since I have to nibble at my capital monthly as I don't really have any passive income generating tools.

Still considering though.. Don't want to get myself into a financial mess by a rash decision made.

either through capital drawdown 3% per anum, or my other side business income which is pretty much passive (requires maybe 2-5 days work per month since i have a partner running the operations, im just more on the sales side)..
or i have a warchest on the sidelines waiting to be deployed, could easily get into income generating dividend stocks, bonds, etc..

im just planning to leave fulltime employment to free up my time, not exactly planning to be sitting around doing nothing all day

Maybe he means he wouldn’t have to depend on his full time job. His “passive income” is from his side hustle which he doesn’t define as a job in the strictest sense of the word, since it’s on auto-pilot most of the time (if I’m reading the meaning correctly)

Yup absolutely agree, I'm actually already not paying interest on my mortgage since I'm fully utilising the flexi loan facility. Just need to wait a few more years for the lock in period to lapse then I'll settle the loan.

I'm also an accountant by profession, but absolutely hate my job.. Only found out I don't like it after being in it for so many years and at the top of the ladder..

So even if I leave my job soon I won't be fully retired, will be doing some trading business on the side and probably some consultancy work which shouldn't affect my lifestyle much since I'm currently living off my salary but side business is already generating more income for me compared to my side business

Leaving my full time job shouldn't be an issue income wise, I might just need sometime to leave the title and all I've done professionally behind and start from scratch again

well sorry if i mislead you, i don't consider my side hustles as passive income as i still need to entertain my customers and follow up on orders eventhough it might be just a couple of phone calls a month..
what i mean by not really sure on FI is that I cannot just spend without giving a damn about anything and still have loads to spare.. I can drawdown 3% per anum and still survive till 85 with my investments growing at an average of 10-20% pa for the past few years.. but that doesn't mean i can still grow them at that rate in the future as i might want to lower down my risk appetite if i were to leave my fulltime employment with stable income..
so thats the part im unsure of.. whether or not im giving myself a large enough margin of safety or not.. nothing is guaranteed in life.. especially income..

what i would consider as passive income is like our bro @hksgmy which can just sit back and collect his interest from FDs and Bonds monthly
yup, you read my mind.. this is exactly what im referring to

mine is 4.05% currently, well im not fully invested at the moment, still having cash on the sidelines
so might as well utilise the flexi facility instead of just letting my cash sit idle or in a money market fund which still returns lower than 4.05%
i need instant access to my cash when required thats why got not much of a choice.. unless you can recommend me something that can generate higher than 4.05% with a withdrawal time of T+1

hmmm thanks for your insights, was looking for some feedback like this.
what if for example my net worth excluding my home equity is 2.5mil:-
invested equity - 1.5mil (growing at 10-20% pa, high growth equity)
warchest - 1mil (can be deployed at an instant into my growth stocks or other lower risk fixed income bonds/dividend stocks)

employment income - approx 20k per month
independent director fees - approx 10k per month (meeting once per qurater only)
side hustle - approx 20k per month (my share)
monthly expenditure - approx 10k per month

numbers are for illustration only.. not an exact representation though..

so now i have 2 options, either to stick with my employment and continue being a corporate dog to let my pot grow bigger and bigger each year and risk going into depression, or take a chance and cut out my employment income to semi-retire to have some freedom and spend more time on my family, investing, my side hustle which i really enjoy

so if i were to leave my employment, monthly income would be reduced from approx 50k a month to approx 30k a month, after expenses still have 20k to be reinvested and to grow at 10% per anum
and if i were to lost the 2 independent director seats, income would be approx 20k a month and 10k left to be reinvested..

appreciate if sifus here can give some insight on what this is? FI or not? since i still have active income which i still technically need to work for or still a corporate slave that needs to obey boss orders

assuming using your illustration numbers for case study, if i'm was you :-

1) 1mil warchest @ 4% = 40k p.a/3.3k p.m
2)1.5mil equity, since you're confident its growing 10-20% pa, for FI calculation i take 8% pa(lower return to compensate for capital preservation, means the 1.5 mil worth will not fluctuate) = 120k p.a / 10k p.m

equity returns = 160k p.a / 13.3k p.m (Basically means that your equity returns enough to cover your monthly expenditure)

so literally you can considered FI, whataever active income gain per month is extra, splits it between your warchest and equity.

I'll quit my employment if your ratio is correct, since your side hustle and director fee is 1.5x more than your employment income. i'll just use that funds to grow my warchest & equity investment

The question for you is whether the director fee & side hustle can sustain, lets say it can sustain for 10 years, and i believe if it could sustain for 10 years, by end of the 10 years, u sell out your shares, and with the RM 30k per month rolling for 10 years, you can comfortably FIRE, whereby 10 years later, you can even spend 20k per month without problem. (lazy to calculate edi lol)

wow Affin Bank 28.88% a month! must visit them tomorrow.

worst case i can just return to the workforce as a consultant as my skillset is very unique and extremely high in demand, to the point that im getting calls from bosses/headhunters/companies every couple of weeks to jump ship, some even offering up to 50% increment from my current pay

...would be much easier for me to make the decision, or until one day I get so fed up with my boss that I give them the middle finger

well, there are a few things that i need to mentally accept myself..
1) to leave the title, reputation and accomplishments i've built for myself - this is more of my identity now and to let go of it takes alot
2) risk that it might not be as easy to join back the workforce as i thought since it could be a few months, or a few years and my skillset might not be as relevant with the changes in business environment or legislation

its easier to make a decision like this when you get pushed to a breaking point of do or die..
its not as easy to make a decision like this when you choose to leave it all behind and walk away..