u have the best forced savings method ever!

bring back the usd lar to pump up our myr... so sad to see it now at 4.62....
tried to google search what was the lowest ringgit ever got during asian crisis (i thought it was like 4.8) but google returned that right now is the lowest...?????

REITS are better diversification than outright owning a property... so agree with you.

many don't realize how much headache it is to manage a property, let alone many... unless the management part is outsourced, it is not really passive income.

just becareful not to be too splashy in terms of your spending... since you have not paid any taxes at all.

that's all I know about rental income tax payable...

what's the threshold for 0.1% club? is it the 30 dollar number?

that is more like the top 1% of the top 1%. T 0.01%...

already FIRE'ed... nothing really changed in terms of investment strategy. Just prior to resignation, I aggressively optimize my "free" cash by pushing all available cash into EPF, which helps with passive income with at least 2% yield pickup vs FD.

If anything, the key to sanity is to make sure that your passive income (div or rental or interest, etc) can cover all your expenses. Then you don't have to worry about forced selling to raise funds to pay for expenses.

You can even do some "freelance" work for fun. I did try that for fun, but at end it is not worth my hassle to follow my friend's schedule and requirement.

The funny part is recently I have the anxiety that I may not live long enough... I already know of a few people personally in their 40s and 50s who passed away past 2 years... and I would not have think it is possible...

so in reality, the worry cuts both ways.... worry not enough time (would be a waste to chase for more money in this case) and worry not enough funds too (worry live too long and poor).

Then it is best to make managing money one's hobby...

That is what I meant...

if it is one's hobby to manage money, then one will find it rewarding to do it oneself.

I do know of many who cannot manage money properly... somehow they dont have the knack for it. In office, I am sure you know of those who just cannot handle a budget of a project.

There is a good, hidden outcome as an introvert.... less interaction with others means lesser chance of being conned to invest this or being asked for some money to help with this or that....

haha.... I think loner is easier to be scammed... cos they may be intro or extroverts, who feels lonely... needed companionship.

introvert has lesser urge to interact with too many people... so lesser chance to chit chat here and there and hence lesser chance to be targeted. All about numbers x chance... not about intelligence...

why not? you already stated that 5% return from 4 million = 200K.
Your spending is 120K rm max pa. The 80K extra is to be reinvested.

how long do you expect to live? just put it all in a excel, and you can even input 3 to 5% inflation rate on your spending and see the profile of your cashflow upon reaching terminal age.

many never even could earn 4 million in their 2 lifetime, and suddenly someone have 4 million cannot retire already.

reality benchmark really went off.

10 million cannot retire lar... all that idiot can achieve is 40K rm per month of passive income doing nothing...
40K rm per month just cannot cut it.... what if suddenly need to take first class flight to USA to eat at the most expensive restaurant and then fly back?

plus 40K rm will soon be worth only 8K usd per month. that is barely living standard in Dubai or Manhattan...

Somemore the 10 million need to adjust based on inflation.... cos by 10 years time, it is worth only 5 million today's money.



There you go, I helped whomever the somebody already with all the excuses...

lol

but for a person like Olga, after he is forced to retire, based on his own argument, does he start to be a leech or be useless to society? At worse, from his logic, he will die within a few years.

The issue, from his point of view, didn't solve itself just because one reach normal retirement age....

sometimes, the family encourages one to work... spend less time at home can be a good thing. haha.

strictly speaking, one can count on EPF as part of one's assets/networth when doing the calculation for FIRE. reason is simple: it is part of one's networth and one can drawdown on it sooner or later.
Your concern has more to do with cashflow.... ie EPF cannot drawdown would just mean one has to take it from another asset type: it will just make the asset allocation a bit imbalance until one reaches the age of 55. If such imbalance is uncomfortable for the retiree, then work extra few years.

Btw, this is not an issue for those with more than 1 million ringgit in EPF. You can flip it the inverse side: just need to source extra 50K rm pa income if die die need to draw down from EPF, since most of us here cann't bare to see principal decline (using inflation as scarecrow).

(lets not kid ourselves... not many can retire before the age of 50... even lesser before the age of 45. Before the age of 40 is even rarer. So in reality, we are just talking abt a waiting time of like 10 to 15 years for most people wanting to retire early)

someone like him... 48 million usd may actually turns out to be not enough....

he must have many many an enemy, and dangerous ones. No way he doesn't need security for the rest of his life. and now he just made Putin pissed at him.

You can count... just need to be slightly more intelligent and diligent in how you do your drawdown. Ie, in your excel when you do your forecast and cashflow (ie which assets to withdraw money from), you then have to be specific where until you reach 55 years old or above 1 million in EPF, all your drawdown will come from other buckets.
=> there is a side effect of this: you may not be able to balance your asset allocation properly.

Remember, EPF money is still yours... Either at 55 or upon death, it is urs to touch. Preferably at 55.

but what is financial abundance?

judging from how we Malaysians/Asians think/plan, basically if we have enough to leave something behind for our descendant(s), it means we already achieved it.

The article's definition of financial independence excludes this rite?
note: most of us here take it that FIRE must leave something behind...

Agree with your understanding of FIRE, but if you read this forum thread, many will not agree with you.... somehow Malaysians feel the need to leave something behind and they build it in their FIRE process.

Financial abundance doesn't mean keep spending until cannot finish lar... because if you think there is a max to what you can spend, all it means is you lack imagination...
From the article, it seems to be just FIRE + leave something behind. Sure, the FIRE can be obese FIRE...