In order not to get DepopZ

Are you Ontrack??? courtesy of Millennial Finance

Are you on track or not pandans...

if u follow bnm standard chances are you can never retire.

bnm standard at 50 only 400k? tabuli ini machiam. Must at least 2x or 3x..

Pls clarify what do you meant by "saving"?
Does it include EPF and personal saving/investment?

The figure shown seem ridiculously low.

Asking here, most /k by 30, millionaires already lah

Why the BNM figures show sharp increase like that? As if a person saving can suddenly multiply a lot from 40 to 50...

everything... that you can live off once you retire.

so it should include all forms of investments.

figure seems low coz we are Merehsians with more than half having less than 10k in EPF.

rm10m. always set a higher bar.

But first column titled "EPF saving target", then 2nd column show BNM figure (not sure what it even means), is the BNM column personal saving excluding EPF?

If you can't hit 1m by early 30s, just go kill yourself.

I beg to differ. After reading the LHDN filing thread.

I don't know how all these millionaire is getting refunded from taxes.

why are u not dead by 50yo? u guys really think u can live till 80?

Dayum,

Then many should have died

Including my self

not relevant....we here all are millionair net asset

seems like I can retire already.

3x annual salary, damn, I am so far behind that amount

It's not that hard seriously.

My salary when I started working was 2.7k at age 24. At age 26 I was making 3.3k.

Building net worth requires a lot of discipline and sacrifices.

fak it,i dont follow those...
i more to relax now n dailly....and die early jer

We don't belong to this world

Reaching 53k savings by the time you're 30 is stupidly difficult at this point in time.

Who ask you gaji besar

i think also need to consider whether the 53k savings include after owning house? or its wholly just savings and the person doesnt owns a house and have yet to paid any house instalment/deposits..

Tunggu mati jelah. Dah masok kubur tak payah simpan2.

I touching 40 soon, epf also close to 1m liau. The target set so low wan

don't care what you bought, or what you are currently paying...

if you've setup this emergency fund , you can easily achieve these figures...

unless you have no emergency funds setup or very low emergency funds to last you 1-2 months...

4 million per person.

MYR jatuh gila, macam mana nak jimat?

Maybe company cut PCB very high kot

Agreed, cause you gonna run out of money 5 yrs after retirement...

Cukur can meet it all
40+

Lets say its savings la

53k in 10 years (realistically, 8 cause you probably only get your first job around 22yo). Means you need to save ~6k a year for 8 years. Doesn't seem a lot, but if you're earning 4k, your nett is around 3.5k, and RM500 is close to 20% of your salary. With price of everything today, unless you stay home with parents and mummy still cook for you, unlikely can save that amount.

Also in the same row, it says EPF saving by 30 should be 35k. Using 8 years as benchmark, that's only 4k/year of EPF contribution. If your salary is 4k, per month about ~RM900 already goes into epf. One year already 11k. Can hit your EPF target in 3 years.

Quite impossible for salary to be so low that you only have 35k in your EPF by age 30. Even if your salary is only 2k, your EPF would be at 46k, not counting dividends and compound interest

savings is ok... epf i think a bit on the low side... esp when you work close to 10 years?

about there ..3x of annual*

this is unrealized gain/loss*




if didnt take EPF into calculation



This post has been edited by fantasy1989: Apr 15 2024, 11:35 AM

i have RM132.03 right now.

2.6b

If follow k standard, 20k incum month


Wow u are rich

Donation to their sub business unit and declare tax

you're oversaving. please stop doing it.

Yeah lor, so now have to start saving even more now.

Like that all b40 can go dai oredi

if ur 50, EPF only 175 can really eat dust jor.

semua simpan simpan.... siapa mau belanja.... ekonomy GG...

kek

30yo - 240k saving (1x)

40yo - 720k saving (3x)

/k standard

PMX and angkatan ketongkatan is here to help .. apa takut...

World would be a better place

I think it is achievable if they save up all the bonus they got, the crucial point is the financial discipline.

If can get an IT job in SG for 10 years, easy to become millionaire.

What does BNM living standards even means? Can live in Bank Negara Malaysia lifestyle?

This post has been edited by Capt. Marble: Apr 15 2024, 12:33 PM

I was earning 2.7k at age 24 and 3.3k at age 26. Way lesser than what you posted here. Heck even took 1 year off my career, still can hit 1 million ++ net worth with 9 years working.

It's definitely possible.

Alot pepolz not practice delayed gratification...

they got money... they spend ... on things they want.. not what they need.

if pepolz save 30-50% of your income monthly... and leave way below your means for few decades... you can actually reach your goals..

but most would want alphards or ketamz once celery reached 6k above...

gross maybe

nett lepas all sohai thing ..peanut left

I think I see your face before and I guess you must be in 40++. Do you have any plan for your future actually

got epf n saving a bit la....wont die of hunger 1 if got hand n leg

oh ya i going jakarta this may...hope can meet some ladyies called me koko koko koko koko uh ahhhhhhhhhhhhhhhhh

This post has been edited by poco loco: Apr 15 2024, 01:35 PM

24 - 48k
25 -100k
26 -195k
27 - 280k
(Exclude epf)

Portfolio
70% US stocks (unrealized gain : 30k)
20% ASNB
10% Cash/FD

Very slow progress, tell me when can I reach 1 million?

Why you like that. I feel so demotivated and depressed. 😔

doing good, stay focus.

But not for 80%+ epf members

If you buy house and property price went up, easy to hit 1m networth la.

Having 1m in your bank account is something entirely different.

The simple fact is, you are you. Maybe you got lucky in some way, or worked really hard to create a high income path for yourself. You're an outlier, which means majority cannot be like you. You need to structure policy/benchmark based on achieveable results by the masses and at the level they are at. Financial education is certainly lacking, but even if we can educate people, those numbers listed are going to be really hard to reach with current market conditions.

Stay focus.
Why not? They withdraw?
You do know what's net worth right? It's after deduct liabilities.

I never include property and it's loan into the calculation. The rent can cover monthly installment, so I'm putting it aside.

As per Epf reported many members very little money in acc

Because these cibai keep withdraw. Then blame government.

How many people under age 30 withdraw epf to buy house and renovate house?

Why can't rent and build up epf money

damn, i iz lucky hit age 50 epf in age 33.
gooding k/ standard

Regardless what multipliers at whatever age before retirement, once old and past retirement age, must make sure networth is more than 20x of annual expenditure.

If possible, 30x to be very comfortable.

according to /k/ standard I saved 20k per month net...

my fren just dieded recently. so dat taught me money isn't everything after all

Glad I meet k standard

me

Even dun take out the majority over 12mils member had below 72k in acc

I just hope you know what you're doing.

Most people don't, for them, owning a 700k - 1m ringgit house with 200k renovation liability is more important than growing your pot of money.

Luckily I don't follow the majority

How much money he left behind?

The majority got gov and asb. Epf is stupid for them cos still need to deduct zakat

deii mana bole retire with those amount at least triple pls

how shud i know. but he got amg cla 45 and 2 smol kids. feel pity for the family