Is 1 million usd aka 4 million myr enough to retire at the age of 26?

My concern is that the buying power of 1m usd will reduce a lot in 30 to 50 years, due to money printing, inflation etc.

I thought ILP isnt fixed? Its subject to the investment doing well?

That's where ILP comes in. Provided you got money in ILP, it helps to pay some of the insurance. But if you are just getting admitted for dengue/ food poisoning, it should not warrant increase. Lol.

DIY investors like you surely can beat these ILP fund managers return right?

FIRE if solo doable..

Add in kids .."habis cerita"

some more.. nowadays kids all private education. that suck out more $$$

then come the uni another round of sucking $$$..

then when they come out to work.. as parents we kesian. give downpayment for car.. downpayment for their property another round of sucking $$$$

so advise to the young.. do calculate all these into the retirement planning.

RM500 per day is just M40 lifestyle not a luxury. If take RM200 per day for general utility bills, petrol and the likes will have a balance of RM300. 3 main meals per day for a family of 4, is RM100 each meal and its hardly a luxury.

thats quite a T20 statement

This is the reality now even thought the official classification is T20 . However the spending power has slipped from what used to be  T20 lifestyle to M40 lifestyle.

A few decades ago when i just started working, at that time a retirement sum of RM1500.00 monthly used to be a dream.
Fast foward to the present, and that sum is now poor man's territory.

I m there n living it so i should know. FIRE for quite a number of years. Official classification are like telling us what we should do and be happy about it.

( Repost from another thread )

Because of FIRE movement, quite a number of forumers are trying to make the cut. In order to achieve it, most simply lower the bar by saying , i can live with such and such a sum every month.

There should be a targetted approach with high bar with a cutout age. For example :

A. If i reach a sum of RM50 million by the age of 35 then RE.
B. IF not a sum of RM25 million by the age of 40...
C. If not a sum of RM15 million by the age of 45 ...
D. If not a sum of RM10 million by the age of 50...
E. If not a sum of RM5 million by the age of 55....
F. If not retire by the age of 60 or work as long as needed...

My thoughts....

guys, am thinking of taking the next step.

kindly advise if i have left out anything?

assuming if there are flaws or things i left out in the calculation please highlight.

ideally of course hoping that current savings are sufficient to cover and be in self sustaining mode, but of course if inflation rises, can always start "eating" into the current savings.

if anybody is able to help to improve the spreadsheet to say:
inflation rate at 3% to 5%, what would be the current required savings (both basic and upgrade version) value to cover the increase year on year for me to say live another 35 years.
alternatively same scenario applies but without self sustaining model but depreciating savings model.

thanks.

PS: any advise on what to do post retirement? i am currently in mid 40's

??? 4% return on capital

he just doing the 4% spending rule in reverse... instead of savings * 4% = spending... he doing savings = spending / 4%

thanks for your reply. in all honesty i find the reported inflation rate on yearly basis a bit unpredictable and rather hard to gauge. furthermore some items goes down too instead of up albeit more on increase rather than decrease though. but i understand your point.
but to argue further, it should be inflation rate on the spending rather than an outright 7-9% return on savings. so it should be 4% + (4% * 4%) = 4.16% the following year and continue on subsequently, no?

yes i forgotten to factor in ang pow and phone/pc replacement say once every 3-5 years.
fyi i got my ip7 from launch and still using it although i think it's time for a change.
travelling is meant for local travel and the "upgrade" which has a factor of RM6k per annum allows me to travel yearly somewhere below that threshold or travel somewhere <rm12k every 2 years. does that make sense?

paid off props - yes
stocks with divvy yield - yes
but not intending to muzzle the already complicated calculation hence only concentrating on return from cash instead.
and forgot to mention, everything is based on individual for the time being.
as the saying goes, help yourself before helping others.

yup. with the slightly higher opr, FD rates are going back to 4% ish and EPF is 5% ish or more.
am taking 4% just to be prudent without taking into account other riskier return which carries some risk of decreasing my capital

this FI/RE thingy is new concept ? never heard of it until now. if retire early then do what?

For a little context

SOS

In reality, very few in this country could fi and re.

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.

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