Anyone FIRE without owning a house? Is it doable? Reason why I want to ask this is because I think house is a terrible investment, it won’t appreciate already compared to 2008 time due to property oversupply. Plus, have to pay mortgage interest which is 2x the house price, no rental yield due to own stay. 1 mil house need to pay almost 2mil after 35 years.

If let’s say we have 1million capital, instead of buying a house. Can’t we just put it to the equity market? US index fund, ASM, EPF etc and let it work?  Assuming a conservative 6% average annual return from S&P500, 1 million capital will yield 60k a year or 5k per month. Then use part of the passive income to pay rent at whatever place we like. The remaining use for daily expenses or reinvest it.

Can this method work?? Why I never hear people talk about this before? Rent in Malaysia isn’t too expensive anyway. 2-3k can get a decent place.

My unqualified comments,...
FIRE = Financial independent retired early...
Thus I don't see owning a house is a factor...
Just that, if you can achieved financial freedom and are financially independent (you hv income streams by not dependent on others to gives you income), and you can retired without the need to work anymore and are emotionally prepared to hv a none working lifestyle.....

If renting a house without buying one suits that Fire,... To me it is fine too

it depends on individual's wants/priorities.

for married folks with children, they may want a "home base" for the management of stability - U know, like logistics to schools, kids' extra curricular activities, support, friends, etc. Ya - once we had kids, our lives aren't ours anymore XD. All decisions are weighted more towards the kids' welfare IF that's a priority to the parents

for those who are into travelling / digital nomad lifestyle long term, a home may be anywhere they are as long as they can keep in contact with their loved ones

i fall into the former grouping but i also leverage on my home's flexi mortgage for savings and investment usage when opportunities pops up.

No "one true way" ya, not Mando's this is the way XD - just sharing personal thoughts and executions.

Holding Malaysia Ringgit for FIRE = playing fire. Look at Sri Lanka, and good luck.🤞

agree... this is why I'm investing more overseas such as US and SG. Using their currency is a safer bet.

still got invest in Bursa but just a small amount in banks and REITs. And also some emergency fund.

"that privilege" would not earn just 4% only, i meant those others that can earn up to 16% eg units in bank rakyat etc..

I am not so sure about Msia insurance they can insure all the way to age 100? Insurer confirm lose monies if sell you the policy until 100 years old? You mean medical and hospitalization to age 100 correct?

Also get your policy to the newer pools whenever you can.
I was upgrading my parent's policy which they bought 20 years ago, the premium of this old one vs coverage amount is so much more expensive than the new one I am buying for them. Reason being you only have old people left in the pool and all starts to claim, you don't get new young healthy people in the pool.

Put it this way:

You have accumulated RM 6,000 in your ILP account, and you are hospitalized and the bill is RM 15,000;

The hospital bill of RM 15k will be paid from the 'pool' your RM 6k remains intact in your ILP account.


But your monthly insurance charges will be deducted from your ILP account balance; which you top up via your monthly premium payment.

The insurance charges is not only "monthly medical card fee" but also includes Sum Assured and all the Riders that you add-on.

A Top Up is required when there is insufficient balance in your ILP to pay for the increasing insurance charges. Insurance charges increases yearly as illustrated in policy book/Sales Illustration.

Hope gives a better understanding.

Enjoy a blessed new year too.

Something like that. That's why medical card on its own is generally more expensive as you age while ILP-mdical card is more or less fixed.

You want to pay RM20k+/year in premium Vs RM3k in premium at age of 70+?

thought about that. probably going to re-finance my housing loan.

some loans like car loans and credit card cash advance loans are dirt cheap. take it and throw inside during FD promotional rate could yield you additional 0.5-1% after contra.

the real deal comes when financial crisis strikes again. you can easily forgo the interest and get good blue chip stocks at 30-50% off

Like i mentioned that i am frugal but not to the extent that i have not enjoyed the fruits yet. i have been enjoying along the way. And found that there is still excess while i am already 60.
Spending 400k on a car will dent like 6% of my cash standing.
However, i have never spent 400k at a go before. i am not sure whether my mental capacity allows me to do so! 
And i so not really care whether i drive a 400k car or wear a 100k watch.

The most enjoyable things i enjoy most is to be among my family and friends. Therefore i spend most of money on them. It's not too expensive most times.
i also spend on helping some of their children through higher learning amongst others.
So is you ask me maybe i will spend the 400k on helping them like so.

BUT i love travelling! Especially to meet up with family and friends in far away lands.

Spending 400k at a go is really a mental thing. 
But if i do spend this on a car, i will get one in Australia where i do not have to pay exorbitant taxes on cars!

Only if your net worth is very big. Or else don't think it's worth it.

I believe they have piecemeal services and focus on insurance. In fact they even refund the commission to you.

I can put you in touch with one of their advisor if you want.

What careerr in demand in SG now?

Point to self. 30 years down the road, I am likely dead(hopefully, don't want to live too long, old and senile and immobilized). I think if can last another 20 years also more than enough. So I am not so worry about inflation. As long as passive income > expenses and DEBT FREE and you have at least 1 paid off property (so you have a roof over your head no matter what), I believe it is absolutely fine.
Inflation eat also never mind lah. So much money for what, cannot bring into coffin also.

In this new era, the key for a long career is to find one which will not be so easily obsolete and replace by AI. Looking at the progress of AI...it is pretty scary. It can even replace jobs once deemed impossible like creating art  ChatGPT is really the beginning of SkyNet....it's freaking amazing. I have even asked ChatGPT to write some codes for Commodore Amiga.... So one of the best career which I feel to go now is the AI field.
..you should be behind creating the technology of AI...then you are somewhat save.of termination by SkyNet....

Yes inflation is over emphasize to scare people off
Just live within our own capability
Come what may we just face it

If you earn 5-10k being made to feel sad as some earn 50k, then remind self many are earning even lesser than us
Why worry unnecessarily.

Investment no guarantee untung

Bekum doctor guarantee untung

In SG minimum salary is 5k SGD per month liao... I thought it's still 4k...

https://www.sinchew.com.my/20230204/%ef%bc%...b5%b7%e8%96%aa/

yes

why pay when gomen can provide FOC.
unless you cant get what you want here,
then terpaksa pay  yourself lah overseas

you so jimat i am sure  u also study locally right?

...
problem is gomen didnt control number of medical schools,
more than 32, madness, percapita higher than UK USA etc.

but want to stinge on healthcare budget
no money to pay drs simply say too many drs already
purposely make it no post,
create contract posts to cut corners

by right you allowed so many to graduate
you take them all in
pay them all equally.

close crony mediocre medical schools
set higher entry requirements
go for quality not quantity.