dunno ler, my family said landlord don't like to rent to single old people.... risk of dying in their unit...

so owning a place, even if single .. is important lo....

Although I am inclined to rent , but as I get older, I do see their point....

With supply > demand and more new supply, rental of most units is unlikely to rise in the foreseeable future.

Just put into EPF. EPF giving 5-6%p.a
Unless you want to earn other country currency at 5-6%p.a but no capital protection.

I wonder if there are other methods to increase this ie create own company or sole propietership to contribute?

Bro...the RM240k is a joke. Totally unrealistic. Their basis was based on decades ago and only been updated once or twice to the RM240k figures now.

When I was a kid, chap fan can be eaten for RM1. Now RM10 also cannot.

Yes, you need to do a calculation because everyone's assets are different. But if you want to live comfortably (and I mean no lavish lifestyle), RM 3 mil is roughly the net worth mount you will need in order to generate passive income PERPECTUALLY between RM5k to RM10k per month, depending on the type of assets your net worth is.

Sure you can get by with say RM500k....but you better find some source of active income and continue working and basically no retirement for you.

Here is a recent article on this issue. Although it's much lower than my calculations (because I want it runs PERPECTUALLY), this article at least set a much more realistic target even if you expect the retirement nest to dwindle down to zero but at least have 20 years to it. Again, RM240k is a joke.

https://ringgitplus.com/en/blog/retirement-...o-30-years.html

My hobbies needs a lot more time..learning electronics to refurbish retro computers, play piano/guitar, learn coding for retro machines (my background is coding), learn Japanese...all these needs loads of time and not simple...

And also need to clear all my backlogs of videogames....muahahahaha!

Where got time!

Having more money is meaningless for me...to me even if you add another zero behind my current net worth, it won't change my lifestyle. I have no desires for wasteful expensive stuff. Hopefully I can achieve Nirvana soon in a couple more lifetimes.

Fark arrogant angmohs, I always say. Ptui!

My friend's friend kena LHDN investigate...he runs an IT company....the LHDN officer told the guy..."Ini Kari lah...".

guy3288 got audited 5x with lhdn and each time lhdn walk away empty handed.

Nobody likes  LHDN´s visits

They got their reasons and they dont have to reveal to us why
We cant avoid , may be just luck
may be people dengki
they also just do their job
and when they go back empty handed
we sort of received an approval stamp la.

more approval stamps  better lo...ha haha

that i dont know,
but can see they audit accounts for almost every year 2011 2012 13 14 15 16 etc
2019 last, so may come again but  i am prepared

Co  accounts always need the whole team  tax agent, secretary, auditor  accountant
so they are around.

tax  cannot main main, must be prepared from beginning..
if  do hanky panky  sudah kena lo.

a good tax agent or auditor will not let  you kena
he will warn you before hand ie dont do that etc.
but sometimes i dont listen also, i take the risk

some auditors like robot, too straight
not thinking for clients
only want to be on the good book of LHDN
i dont like
we want max tax savings mah
if not why spending some 15k paying them yearly

thanks!
good to know and kudos.

coz if you are in the 20s, that doesn't mean much.
but now that you are in you 50s, the expenses cost is low. kudos and i assume your housing and transportation is pretty much sorted too.

3.ppl

current have 16k passive untouched with additional income 20k+ nett. 

20k - 8k -4k ( cars)-5k ( all expenses)

still can save 3-4k pm

Cars all.should.settle in 3.years.

wanna ask, have you guys considered medical inflation and private insurance increasing cost that will eventually eat into your FIRE, or you have decided to go government hospitals for future care and let life takes its course ?

According to wealth reports, only about 4% of adults in this country have over usd100k net worth. those could fi is few and far in between.

Networth or income? Almost 2M and become Top 1%?

Malaysia standard so low 

understand... very rare to know of a person that is ok to drawdown on principal...

Yeah. That's why I earlier said rare for drawdown of principal.
But it turns out depends on how one view it.

Cos if got large leftover upon us kicking the bucket, did we really planned to drawdown on the principal?

50X? that is really really conservative.... as it is just 2% wr...

i guess if one is really young... this can be a good justification for such conservative spending.... and can gradually increase one's wr as one ages.

Well… I also lean towards both your views; a lower SWR than 4% when I first FIRE’d.

Now, if I reset my spending budget to today’s portfolio value and apply a 4% SWR, my budget would jump by 150%.
That either means I could have afforded a higher SWR earlier… or that I can now reset to an even higher SWR, say 5% or 6%.

If set SWR to 2%, then really can throw bulk into EPF and chill.... EPF min div is 2.5% already...