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 FI/RE - Financial Independence / Retire Early

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Lembu Goreng
post Jul 31 2022, 10:29 PM

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QUOTE(guy3288 @ Jul 31 2022, 10:21 PM)
Just a claim i made up?

It is like i tell you jumping from 14 floor you can die, 
you said i made it up and you need proof..
just how clever is that?

Hello @Lembu wake up, 
dont pretend dumb you cant fool people in here.
» Click to show Spoiler - click again to hide... «


Special opportunities for bumis is  open secret
everyone in here knows, MattSalleh included.

Bumis  have a head-start in  so many areas,

that BR units paying 16%  only for Bumi is proof enough right?
pretend stupid is not the way to extract more info from me.

From schools (boarding,MARA),exams, Matrik vs STPM, scholarship,
job, promotion, business, licences , permits ,loans, IPO equities,
housing, ASB, ASM, etc...heck even tax also got special,
they can choose not to pay tax......

"While every working adult (includes business persons) is assessed on their annual income to see if they have taxable income, the Muslims may opt out of paying income tax even if they have taxable income. YES!! U read that correctly......."

» Click to show Spoiler - click again to hide... «


i pay donations it is Tax RELIEF, they pay donations
» Click to show Spoiler - click again to hide... «
  it is TAX REBATE.

You must be blind not see that.
"... action in Malaysia covers not only higher education but also land reservation, quotas in public service, licences, permits, scholarships and grants. The most glaring inequity is seen when Bumi can buy houses costing more than RM1 million and still claim a discount from the market rate...."

» Click to show Spoiler - click again to hide... «


"... A tax rebate is a reduction in the actual amount of income tax you have to pay – unlike tax reliefs, which merely reduce your chargeable income amount. Furthermore, the cap on the amount of tax rebate you can claim for zakat is subject to the maximum of tax charged......."

» Click to show Spoiler - click again to hide... «

*
You’re going a bit way off the question in hand here. I only asked what investment that a bumi can make that gives better returns than asnb. So far you keep harping on BR, while everyone here knows BR is no longer a feasible option. If BR so easy why bother put in asnb in the first place.

Anyway, you have already admitted you do not know the answer because you are not a bumi.

My advice to you is if you are going to make a claim, make sure you have something to back it up.

guy3288
post Aug 1 2022, 01:05 AM

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QUOTE(Lembu Goreng @ Jul 31 2022, 10:29 PM)
You’re going a bit way off the question in hand here. I only asked what investment that a bumi can make that gives better returns than asnb. So far you keep harping on BR, while everyone here knows BR is no longer a feasible option. If BR so easy why bother put in asnb in the first place.

Anyway, you have already admitted you do not know the answer because you are not a bumi.

My advice to you is if you are going to make a claim, make sure you have something to back it up.
*
go bury your head in sands ,
stuck to your PNB 4% to argue till lembu comes home..
4% is the best you know, ok ok ok
any thing better is all made up.... thumbsup.gif
waste my breathe showing you my ports..

becos
what i can do above, they can do better
what they can do, many i cant do..

dont wanna waste more pages for you..




Lembu Goreng
post Aug 1 2022, 08:16 AM

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QUOTE(guy3288 @ Aug 1 2022, 01:05 AM)
go bury your head in sands ,
stuck to your  PNB 4% to argue till lembu comes home..
4% is the best you know, ok ok ok
any thing better is all made up.... thumbsup.gif
waste my breathe  showing you my ports..

becos
what i can do above,  they can do better
what they can do, many i cant do..

dont wanna waste  more pages for you..
*
i dont know why you're so agitated. You're the one that claimed there are better investments for bumi than PNB.

I never claimed PNB is the best, I merely asked that you share with us what's better since you claimed to know (and I am interested to know what they are) but it turns that you actually don't know either.


Lembu Goreng
post Aug 1 2022, 08:44 AM

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QUOTE(coolguy_0925 @ Jul 30 2022, 10:31 PM)
One issue is EPF max RM60k/year so it will take 10 years for him to dump his fund all in even if only RM600k
*
I wonder if there are other methods to increase this ie create own company or sole propietership to contribute?

Unkerpanjang
post Aug 1 2022, 09:00 AM

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QUOTE(MattSally @ Jul 30 2022, 04:44 PM)
I have been forced into early retirement (age 58) by a combination of Covid-19 pandemic and a totally unrelated health issues.

Any suggestions?
*
Hi, I'm approaching 59 coming year end. Lost all motivation to work in self perceived stress environment.
Your msg got me thinking abt post retirement finances with regards to life styles.
Trying to understand what range of realistic acquired annual fixed passive income (assumption kwsp 5.5%; asmx 4.0%; sspn 3.0%) ..putting stocks aside vs mental/emotional well being.
A. $80-100K
B. $100-120K
C. $120-160K
D. $160-200K
E. >$200K
cklimm
post Aug 1 2022, 09:43 AM

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QUOTE(Unkerpanjang @ Aug 1 2022, 09:00 AM)
Hi, I'm approaching 59 coming year end. Lost all motivation to work in self perceived stress environment.
Your msg got me thinking abt post retirement finances with regards to life styles.
Trying to understand what range of realistic acquired annual fixed passive income (assumption kwsp 5.5%; asmx 4.0%; sspn 3.0%) ..putting stocks aside vs mental/emotional well being.
A. $80-100K
B. $100-120K
C. $120-160K
D. $160-200K
E. >$200K
*
A, which is already beyond annual salary of most Malaysian
magika
post Aug 1 2022, 03:08 PM

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QUOTE(cklimm @ Aug 1 2022, 09:43 AM)
A, which is already beyond annual salary of most Malaysian
*
Aim higher so that when inflation catches up, all is not lost.


Lembu Goreng
post Aug 1 2022, 04:37 PM

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QUOTE(Unkerpanjang @ Aug 1 2022, 09:00 AM)
Hi, I'm approaching 59 coming year end. Lost all motivation to work in self perceived stress environment.
Your msg got me thinking abt post retirement finances with regards to life styles.
Trying to understand what range of realistic acquired annual fixed passive income (assumption kwsp 5.5%; asmx 4.0%; sspn 3.0%) ..putting stocks aside vs mental/emotional well being.
A. $80-100K
B. $100-120K
C. $120-160K
D. $160-200K
E. >$200K
*
It can be any of them. Really depends on your lifestyle

coolguy_0925
post Aug 1 2022, 06:45 PM

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QUOTE(Lembu Goreng @ Aug 1 2022, 08:44 AM)
I wonder if there are other methods to increase this ie create own company or sole propietership to contribute?
*
This option is a bit troublesome for me, unless you are running a genuine business

Having a company also have to ensure some statutory requirements are met
guy3288
post Aug 1 2022, 10:46 PM

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QUOTE(Unkerpanjang @ Aug 1 2022, 09:00 AM)
Hi, I'm approaching 59 coming year end. Lost all motivation to work in self perceived stress environment.
Your msg got me thinking abt post retirement finances with regards to life styles.
Trying to understand what range of realistic acquired annual fixed passive income (assumption kwsp 5.5%; asmx 4.0%; sspn 3.0%) ..putting stocks aside vs mental/emotional well being.
A. $80-100K
B. $100-120K
C. $120-160K
D. $160-200K
E. >$200K
*
you can go for E, i remember reading you having a lot of golds...or something
c64
post Aug 2 2022, 12:06 PM

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QUOTE(Unkerpanjang @ Aug 1 2022, 09:00 AM)
Hi, I'm approaching 59 coming year end. Lost all motivation to work in self perceived stress environment.
Your msg got me thinking abt post retirement finances with regards to life styles.
Trying to understand what range of realistic acquired annual fixed passive income (assumption kwsp 5.5%; asmx 4.0%; sspn 3.0%) ..putting stocks aside vs mental/emotional well being.
A. $80-100K
B. $100-120K
C. $120-160K
D. $160-200K
E. >$200K
*
It depends on your lifestyle. No same figure for anyone. I am way younger than you (ahem) and already call it quits. As long debt free, got properties, enough money to eat and go vacation once in a while. Apa lagi lu mau?

Being free is more priceless than owning materialistic worldy stuff for me. Ends up in coffin is just a standard single 4 x 6 feet space. I already bought urn and spot, so i won't waste so much space. Must be environment friendly.
c64
post Aug 2 2022, 12:10 PM

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QUOTE(Lembu Goreng @ Aug 1 2022, 08:44 AM)
I wonder if there are other methods to increase this ie create own company or sole propietership to contribute?
*
Means that will be your salary and will be kena tax. Just don't.
Lembu Goreng
post Aug 2 2022, 12:19 PM

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QUOTE(c64 @ Aug 2 2022, 12:10 PM)
Means that will be your salary and will be kena tax. Just don't.
*
Aisey.

Btw welcome back
MUM
post Aug 2 2022, 01:02 PM

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QUOTE(Lembu Goreng @ Aug 1 2022, 08:44 AM)
I wonder if there are other methods to increase this ie create own company or sole propietership to contribute?
*
Previously some forummers mentioned that, sign some forms, ask your employer to deduct a bigger than the "statutory" rate of your part of your salary for kwsp contribution.
Lembu Goreng
post Aug 2 2022, 02:59 PM

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QUOTE(MUM @ Aug 2 2022, 01:02 PM)
Previously some forummers mentioned that, sign some forms, ask your employer to deduct a bigger than the "statutory" rate of your part of your salary for kwsp contribution.
*
Are there any limits to employer contribution?

MUM
post Aug 2 2022, 03:45 PM

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QUOTE(Lembu Goreng @ Aug 2 2022, 02:59 PM)
Are there any limits to employer contribution?
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Employer I think epf got mention no limit.... But Maybe tax accounting may got limits allowed by lhdn.
Employee, many forummers mention the limit is your pay (preferably max 50%, for maybe you got mtd, socso, eis, etc etc)

This post has been edited by MUM: Aug 2 2022, 04:41 PM
Ramjade
post Aug 2 2022, 04:19 PM

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Putting your money into EPF means you have faith in the RM.

I put the least amount possible and direct all my money overseas as I have no fairh in Malaysian currency.
Lembu Goreng
post Aug 2 2022, 04:52 PM

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QUOTE(Ramjade @ Aug 2 2022, 04:19 PM)
Putting your money into EPF means you have faith in the RM.

I put the least amount possible and direct all my money overseas as I have no fairh in Malaysian currency.
*
Good on you mate. Have you FIREd or close?

If you have, would be very interesting to hear how you’re living off your investments


This post has been edited by Lembu Goreng: Aug 2 2022, 04:53 PM
spiderman17
post Aug 2 2022, 05:07 PM

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QUOTE(Lembu Goreng @ Aug 2 2022, 02:59 PM)
Are there any limits to employer contribution?
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up to 19% is tax free. anything more is counted as income and subject to tax.
Ramjade
post Aug 2 2022, 05:31 PM

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QUOTE(Lembu Goreng @ Aug 2 2022, 04:52 PM)
Good on you mate. Have you FIREd or close?

If you have, would be very interesting to hear how you’re living off your investments
*
I can. But I choose not to. My investment are basically earning me 1-2 months salary every month (this is all foreign currency).

But I need to make it safer hence I am still working.

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