Posted by ks55 > 2023-01-28 09:50 | Report Abuse

Here are the 2 million and 1 million experts.

https://www.thestar.com.my/news/nation/2023/01/28/stretching-the-retirement-ringgit

https://www.thestar.com.my/news/nation/2023/01/28/how-to-be-penny-and-pound-wise-for-the-golden-years

Posted by ks55 > 2023-01-28 09:51 | Report Abuse

How to save 2 million?
How to save 1 million?

Posted by ks55 > 2023-01-28 09:56 | Report Abuse

What is 2 million when you finally retire in 35 years from today?
What about 1 million?
Can that amount see you through for another 30 years (60+30) assuming by then average lifespan will then be 90.

Posted by ks55 > 2023-01-28 09:57 | Report Abuse

What about for you to retire today?

What about for you to retire in 10 years time? 20 years or 30 years?

Posted by ks55 > 2023-01-28 09:59 | Report Abuse

How can you achieve financial independence by the time you retire (or even earlier)?

What is your definition of achieving financial independence?

Posted by speakup > 2023-01-28 10:04 | Report Abuse

Gamestop one young guy turned us$25k into us$8mil!
that's definitely enough to retire

Posted by ks55 > 2023-01-28 10:06 | Report Abuse

That could be enough to buy a yacht, but no money to maintain it.

Posted by ks55 > 2023-01-28 10:07 | Report Abuse

Easy come easy go

Posted by stncws > 2023-01-28 10:16 | Report Abuse

rm100k..ok

Posted by TrippleZ > 2023-01-28 10:39 | Report Abuse

Nobody should retire as long you still can work.

Posted by speakup > 2023-01-28 10:52 | Report Abuse

wrong! if nobody retire, then our youngsters no jobs leh
old ppl go, young ppl come

Posted by speakup > 2023-01-28 10:54 | Report Abuse

if every body work until they die, our youngsters & fresh grads mana ada jobs??????

Posted by BLee > 2023-01-28 13:49 | Report Abuse

"Posted by ks55 > How to save 2 million?
How to save 1 million?"

Buying properties is a sure way to accumulate millions..
My parents' terrace house bought in early 1970 for 12.5k, now valued more than a million.
My present house bought 25 years later appreciated close to 8x..and it depends on location, locations. The problem is where to get another landed property if I cash out? I have to live in strata property..? For renting out properties, strata properties will be a good way to accumulate wealth..?
Shares investment is still a very risky way to accumulate millions. Just my opinion, might not be the best way to accumulate wealth, wishing everybody a very healthy prosperous years ahead..

Posted by TrippleZ > 2023-01-28 14:03 | Report Abuse

@Speakup, that's why people and government must work together to create more jobs opportunities.

Posted by StartOfTheBull > 2023-01-28 15:53 | Report Abuse

Work more if you need more money to finance your needs and desires, work less if you have enough.
Stop working is like sitting down for nothing and waiting for the Lord to call up.

Posted by StartOfTheBull > 2023-01-28 19:26 | Report Abuse

Work does not mean we must only work for money. When you need not work for money anymore, do some house works, gardening, social works, charity works, so on and so forth. Human body needs to stay active to keep healthy.

Posted by Ny036 > 2023-01-28 22:19 | Report Abuse

Fortune: if you have extra money will you put money into epf personally (currently 60k) if you age is around 55-60?

Posted by Income > 2023-01-29 07:17 | Report Abuse

FortuneBull777
Westerners gave us lazzy and relaxing concepts like Retiring, Happy Birthday party, Happy Valentines Day, Happy Mother’s Day, Happy Father’s Day etc.



Posted by FortuneBull777 > 5 hours ago | Report Abuse
Bull! Before western values came to light, asians never retire! We would work until we die!

Posted by StartOfTheBull > 2023-01-29 08:24 | Report Abuse

We don't look down on ehailers is not because ehailing is a business, it is because we appreciate him for taking us from one place to another.
We should look up to garbage collectors for helping to collect rubbish from our house.
We should also look up to dentist for helping to treat our infectious tooth.

Posted by i3gambler > 2023-01-29 08:52 | Report Abuse

My Simple Calculation:

KLCI's Dividend Yield is now about 4%,

If your annual expenses is 100K,
When you have an investment portfolio = 100K / 4% = 2.5m.
You can retire immediately, as I believe Dividend will grow faster than inflation.

If you really want to retire badly, then include EPF into the calculation.

Posted by stockraider > 2023-01-29 11:23 | Report Abuse

How much u need for retirement depends on your lifestyle loh!

The key to build wealth is to save much more than your expenditure, while u still earning income loh!

Posted by BLee > 2023-01-29 12:25 | Report Abuse

"stockraider > How much u need for retirement depends on your lifestyle loh!

The key to build wealth is to save much more than your expenditure, while u still earning income loh!"

Totally agreed, input more than output, the problem is how to get more input and less output? Everybody knows any investment return more than inflation rate will be a good investment; how about the risk factor? Is it the right time to buy properties with current material prices knowing prices could be twice in 4 or 5 years time? Investment in the money market will it be able to get twice in 4 or 5 years? The best will always be to get money to work for us? If we can answer some of these questions, we can easily get our millions for our retirement...

Posted by StartOfTheBull > 2023-01-29 12:42 | Report Abuse

Investments in Forex and commodities market, equities, properties are uncertain. Best investment is ourselves, besides entrepreneurs, a knowledgeable and capable person can easily earn more than the rest.

Posted by BLee > 2023-01-29 13:19 | Report Abuse

"StartOfTheBull > Investments in Forex and commodities market, equities, properties are uncertain. Best investment is ourselves"

Agreed, investment in ourselves never ends, such as learning from others in this forum. But everything must be taken with a pinch of salt, as today knowledge might not be applicable for tomorrow…
For example, fossil fuel, although depleting, could be replaced with renewable technologies. IT technologies, from wired to RF wireless to optical to virtual to…all this within a few decades.

Posted by Income > 2023-01-29 19:20 | Report Abuse

Posted by StartOfTheBull > 6 hours ago | Report Abuse

Investments in Forex and commodities market, equities, properties are uncertain. Best investment is ourselves, besides entrepreneurs, a knowledgeable and capable person can easily earn more than the rest.

——

I think investment following Otb subscription, he said can achieve a lot of money faster than you invest it yourself in Bursa.
Do you all agree to invest following Otb advice to be very very very very Rich in a few years??? You all agree or not???

Posted by StartOfTheBull > 2023-01-29 21:00 | Report Abuse

Invest in yourself to enhance yourself, NOT invest it yourself (with your own method). Don't get me wrong.

Posted by ks55 > 2023-01-29 23:25 | Report Abuse

For those who earn 8k a month prior to retirement, if you expect him to live on 8-10k a month, surely he will live a better life after retirement.

For those who earn 50k a month and spending 30k every month, asking him to live on 8-10k budget will drastically lower his quality of life.

So whether having 2 million or 1 million is good enough for to live another 30 years after retirement doesn't make any sense. All boil down to your spending habit and your earning power/saving discipline/ability to generate passive income after retirement.

Also need to factor in inflation/periodic replacement of one off big ticket item like car/long term care/ medical expenses for the old age.

Posted by ks55 > 2023-01-29 23:27 | Report Abuse

Purchasing power of future money will not be the same after taking into inflation (very high at present) and the risk of exchange rate fluctuation.

Posted by ks55 > 2023-01-29 23:37 | Report Abuse

Careful planning is required a accumulate your wealth as early as possible. Fail to plan and you will be living under poverty for the rest of your life after retirement.

Posted by ks55 > 2023-01-30 00:05 | Report Abuse

Rule of Thumb is to have saving equivalent to 120 months of your last month salary (Income). If your last drawn pay is 10k a month, you need to have 1.2 million net of liability.If your last drawn pay is 20k, then you need to have 2.4 million savings when you retire.

Hopefully you can generate 7% return consistently. You spend 5% of ROI, leave additional 2% and add to the balance of your nesteggs.

Posted by ks55 > 2023-01-30 00:19 | Report Abuse

Why just ask for 7% ROI?
1. It is achievable.
2. For every 10k you earned prior to retirement, you will have to deduct income tax, EPF and set aside some saving (for investment, housing loan etc). Very likely you only spend up to 50% of what you earn for routine expenses.
3. From the 7% passive income, you only spend 5% which is the actual amount you spent prior to retirement.You add the balance 2% to your capital to counter inflation.
4. You may want to replace your car every 8 years. By not spending all the 7% passive income, that 2% may come handy when you are in need.

Posted by ks55 > 2023-01-30 00:30 | Report Abuse

You will be better off if you already have a mortgage free housing, that could really reduce your spending by 15 to 18% of total expenditure. Better still, by the time you retire, you have 1 or 2 more properties.

If you are having 3 properties by the time you retire, sell one and put the proceed into Reits (low risk medium gain), keep one for rental income, last one for own stay.

Posted by BLee > 2023-01-30 00:58 | Report Abuse

"FortuneBull777 > I have to say investing is not easy! There's plenty of instant sifus who tell you they got rich through stock market, property and so forth!...Question is, how knowledgeable are you! Are you knowledgeable to invest in stocks and hit your target! Are you knowledgeable in property and become rich! Because without knowledge, you won't get there!"

How rich is rich? To me, 知足(satisfying) and not comparing with others richness will be the personal benchmark. We will always 活到老,学到老 (lifelong learning)。
Therefore, with knowledge, at least will be 'rich' in mind.

"ks55 > ..So whether having 2 million or 1 million is good enough for to live another 30 years after retirement doesn't make any sense. All boil down to your spending habit and your earning power/saving discipline/ability to generate passive income after retirement."

Totally agreed. How much we spend can be controlled but how long we spend is beyond our control; therefore input shall be equal output will be the ideal figure..time for my nice slumber as the cracker sound just faded.

Posted by StartOfTheBull > 2023-01-30 07:53 | Report Abuse

There is no benchmark how much saving is needed for retirement, RM1 million only is needed for some people but Rm100 millions may not be enough for others, it depends how a person wants to live for his or her remaining life.

Posted by BLee > 2023-01-30 11:46 | Report Abuse

Read an article and seen the interesting video of a retired couple on how they enjoying their retirement life!! I liked the part on how their properties pays for their expenses...The link:-
https://focusmalaysia.my/why-retired-banker-opts-for-slow-paced-luxury-in-penang-over-singapore/

Posted by Income > 2023-01-30 14:16 | Report Abuse

Posted by StartOfTheBull > 6 hours ago | Report Abuse

There is no benchmark how much saving is needed for retirement, RM1 million only is needed for some people but Rm100 millions may not be enough for others, it depends how a person wants to live for his or her remaining life.
—————-

I just follow Otb subscription service to buy Bursa stocks. This is my investment strategy. Cantikkkkkk

Posted by ks55 > 2023-02-02 07:44 | Report Abuse

Fail to plan is plan to fail. Do you want to fail in life after retirement? Do you want to work till you drop dead? Is your retirement plan is realistic and achievable? Don't have a half past six financial planning that will ultimately fail you at the end of the day.

Read this article carefully. Always remember your future money 1 million is amount to nothing when you eventually retire in 20 or 30 years. Act now or you will regret for the rest of your life.

https://www.thestar.com.my/news/nation/2023/02/02/from-fire-to-mere-embers

Posted by TonsilBasher > 2023-02-02 09:20 | Report Abuse

As long as you dont join any Quick rich scheme, dont spend money on sugarbaby, dont gamble at SKY WOrld Casino, you will be fine

Posted by BobAxelrod > 2023-02-02 09:27 | Report Abuse

Then what's life for????

Posted by ks55 > 2023-02-13 22:19 | Report Abuse

The so-called financial planner in Hongkong suggest if you want to live on HK$ 10k a month, you need to have HK$ 2.7 million, or 270 months of monthly expenses (Watch below video @ 13:27), or 4.45% ROI. You will have to work until 65 and to live another 17 years after retirement.

https://www.youtube.com/watch?v=4ILXzHJJEr0

Posted by Income > 2023-02-14 08:42 | Report Abuse

This is for retirement.
https://www.facebook.com/reel/861464498197802?mibextid=0NULKw&fs=e&s=TIeQ9V