https://www.malaymail.com/news/malaysia/202...es-rm161m/71679

I'm sure it has been discussed somewhere before. if not here you go. Some here already in 1% club but maybe not yet 0.1% club. if cannot FI/RE then something wrong I guess

1% can FI cannot RE because wanna be 0.1%...

No problem bro, we are all at different stages of our journey through life but we all have the same goal of achieving the same financial independence and freedom in the end.

It is good for you.

but many forget their roots.......
when become rich
must eat walk and talk differently
act and think differently
become arrogant ...

Yes, we just turned 50 a year ago. But, Wedchar2912 is correct - it's something worth thinking about, how I'd like to leave a financial legacy behind, if there's anything worthwhile left to leave.

I guess that's what everyone would like to do when they depart - to leave a little something of them behind, in the memories of the living. In my case, I'm happy to report that I've made a significant and indelible contribution for the better, to many lives in the course of my work and career, and some of my patients have gone on to become doctors themselves because they were inspired to do so by their interactions with me - that's already a legacy left that cannot be taken away. So, I guess the thought of doing something like a bequeathment for a scholarship or an education fund wasn't first and foremost in my mind, but it's surely a worthy consideration!

Bro, you read me like an open book.

This is my greatest fear and the only thing that's holding me back from calling it quits tomorrow. I need to come to terms with the fact that there is still a life to live after work.

Just some quotes, bros,...

You either answer to a boss, or you'll have to answer to the market.

If you have made enough money to earn FD interest, or share/REIT dividend payouts, the you'll have to answer to boredom.

Bro, that's erm, something I'm a little hesitant about. Not that I buy into the Knights Templar and the Illuminati stuff, but Freemasonry is not for everyone. I'm a little too low-brow for that. I would never cop an invite.

For those that aim to retire. RM240,000 cannot already. need 3.9m according to study below. That's about USD1m said many times in this forum.

HSBC survey shows Malaysia’s mass affluent aim to stop working by age 57, need RM3.9 mil for comfortable retirement

https://theedgemalaysia.com/node/689008

Cannot be, according to all here retirement fund must be USD1-2mil wor, else how to survive 😂

haha....

I think we all need at least USD 2 million to retire... I round round it up to RM 10 million.
Spend per year 5% sap sap easy also means 500K rm. that is only 40K rm per month of spending money (tax free btw). I also feel its not enough.

lol...  no wonder some did say need 10 million to retire here. 

It's not about what the clientele think, it's what the bank thinks. HSBC will tell you to close your account and go open a local bank account if you do not meet their expectations on bank balance and activities.
The other foreign banks do it as well sometimes but HSBC is far and away the worst when it comes to getting rid of the peasant individuals and companies.

sounded like how UM think they are top tier uni internationally but not self aware. syiok sendiri.

so basically you just gotten brainwashed by a lousy bank called HSBC. lol. even within senior bankers, none cares much about HSBC MY.

great marketing spin by the bank to spin a handicap into a positive attribute... 

eitherway, hsbc is a mass universal bank, especially so in Malaysia. Similar to Citibank once upon a time.

Yes, HSBC MY requirements are quite low, esp since the requirements are denominated in RM. The figure is approximately the same, for HSBC premier Australia, I needed AUD200,000. For HSBC premier Singapore, it's $250,000 and for HSBC RM, it was RM250,000 IIMN. In the end, I only applied for Australia (home base) linked to Singapore - didn't need the Malaysian one.

They want to get rich by Tuesday. Of course cannot. Both assi and dividend warrior took 10y+ to build their portfolio.

I fully agreed with your post, "Not all tools can be used by everyone with the same proficiency".

Which I beliefs it is true too.

If those who are interested to follow you can just follow your portfolio or assi and dividend warrior's portfolios too. ....so they don't have to wait for 10 years and also avoid mistakes ...

yeah - good example is my sibling, who went for all sorts of investing and trading workshops yet can't consistently invest nor trade. at the end, handed-off to me & EPF to manage coz cannot manage own temperament (fear/greed).

Most Malaysians lack financial literacy and over rate their own intelligence. So what's the outcome?

Join all sorts of scams and fail in investing.

Hence EPF is the best tool most Malaysians can have.

I consistently put in EPF and also have very high risk assets. I know what I can bet on and what I can't afford to lose. If my other investments fail, at least I've EPF to fall back on which will be in millions when I retire.

I think in Msia,... there are lots of weaknesses and loopholes in the system and in the data-collection mechanisms. Lots of wealth are 'hidden' and not captured. And I think this is purposely being encouraged by the same persons in the executive who have wealth,... and hence, wished this to be done too.

Hence, we always read reports of authoroties seizing stacks of cash, gold bars and LV handbags in rooms of some individuals.

As for transactions - 'sizeable' only comes into view when there is a chk,... if there are many small transactions or nobody checks, then it will slip beneath the radar. Pls don't use 1MDB as an eg,.....

Secondly, the tax authorities must be efficient too,...

Guessed you don't know the law as well as I do. I'll give just one simple answer to fend your second statement : will they want to do it ? any benefit for them to do it ????????? Human factors are in play here, as in everything else.

I'll be a little nit more helpful to you by adding these : How abt the counter-parties they are requesting data from ? will these parties be cooperative ? how cooperative will they be ?? Sure, there are OECD rules,... but we are in Msia,... we are not the US Govt or any major ctry,......... how much copperation will be accorded. ?

Again,... pls don't use 1MDB as an example,.......

Obliged, yes,... but really do ? I know many who said they have hak ketuanan,.. no need to do,...

But anyway,.. I was referring more on international transactions. YOU're right - cross-border. Our executives all have crossborder transactions.

why did you get sus?