nice... only need 2.2 million ringgit to be T01 in Malaysia...

Also mean about 99% of people net worth is <RM 2.2m and 99% people opinion and advise on investment, finance, etc is unworthy.

Except gomen servants, most people don't have perpetual pension, quality retirement life is a challenge to many. Fi/re is often promoted by mlm and money game to entice new recruits, is filled with many traps.

This post has been edited by icemanfx: May 18 2023, 01:42 PM

The stats provider, like you said, is clearly targeting this segment only... the rest will be targeted by retail FI with mass manufactured products like UT or SI or FI.

IMO, 2.2m is only kuli level. True T1 throws a couple of million for loose change only.

This post has been edited by CommodoreAmiga: May 18 2023, 03:10 PM

I believe it is more of a statistical fluke.

Lets say a person has 10 million ringgit networth. 99.9% chance within the 1% population size.
but if said person's family size is 5 persons, then it becomes 2 million on average.

then again, we don't know how Knight F calculate this, but the stats is not too inconsistent with the T20-M40-B40 income stats.

This post has been edited by Wedchar2912: May 18 2023, 03:27 PM

Find it hard to believe

Think lots of politicians or people dont declare

but singapore's 3.5 usd dollar for their T01 is also a bit too low...

I would have also thought that 3.5 usd would be T01 of Malaysia.

That's why i mentioned that we have no idea how Knight F calculate these stat.

Don't be so greedy lar. Top 10% enough. After all epf say 240k enough to survive 20 years.

Not yet in 40s and also not high net worth, paiseh.

Both actually, my side hustle got me 5 figure income for quite a while before it died. But what is more important is to live a simple life and save.

Very hard to retire la as you get close to the age limit especially if you doing well in one career which also mean you at your highest earning capacity.

And even you have to be declared or forced to retire at 60, one will find way to continue stay employed.

I can't imagine seating idling being unproductive. I don't mind to cut back the hours and have a little work life balance and enjoy the fruits ...

And when you being in position of power as manager or leader, you will find it very bored not being challenged or dealing with crisis. I told my wife if I really retire, I go back to college for a master or doing some courses to keep the brain from going senile.

Also.pretty consistent with KWSP where only 0.5% of members have more than RM1m in their account.

What's net profit for the side hustle.

I agree. Live simple life and save

I was into SaaS back then. So the cost is actually my time as I did the code, design and business development all by myself. Grew it to a 5 figure income (MYR) before the market got really saturated and I had no choice but to leave it to die a slow death.

'T20, M40 and b40' refer to household income not individual net wealth.

Reality could be hard to accept. This number is consistent with EPF, other ib wealth reports and number of people with privileges/priority/premier account.

This post has been edited by icemanfx: May 18 2023, 05:23 PM

Still got market with specialisation with CSaaS if you have the market and customers but highly competitive

As long as we based our calculations to the Almighty EPF only...

we will never get the true figure of people's networth in malaysia.

Especially those with tonnes of side hustles 🤦‍♀️ which is why you see EPF is also hustling for their slice of the pie as well 🤦‍♀️ when those side hustles are more burden relief to those who are hardworking 🤦‍♀️

but the real question is what is the cutoff to be T10 and is that number really enough to survive for 20 years?

here many already saying 2 million ringgit is not enough to retire... so I guess T10 is destined not to retire also.

you decide if you can then go ahead lor... who cares t10, t1, dll...

decide on what??