Posted by Jake > 2012-01-16 00:53 | Report Abuse

Why 8 years...with all respect, how young are you, Mr Teh? What is your simple definition of being "financially free"? Everyone aspire for that but sadly not everyone makes the effort to achieve it isn't it?

Posted by Stephen Lee > 2012-01-16 04:15 | Report Abuse

Jake: What you are taliking is true, just look around you and your classmates and how many of them are "financially free" when they retired. Lastest report shows that 70% of combined household income groups staying at Klang Valley earned about RM1,500 a month. Bersif 2.0 Chief Datuk Ambiga refered to last month Global Financial Integrity claimed that Malaysia LOST RM150 bil in illegal Cash outflow in 2009 which is the 4th highest amongst developing nations and also Malaysia lost US$338 billion (RM1.08 trillion) between 2000 and 2010 and WANT the Pakatan Rakyat plan to recover this money back to the Rakyat as these monies belongs to the RAKYAT. )Sunday Star 15 Jan 2012 pg 10. No wonder we have so many POOR people around (including myself)

Posted by cpteh > 2012-01-16 07:20 | Report Abuse

Jake, I was one of those financially-poor mentality lecturer merely 5 years ago. So, I make a total change in my mindset before even talk about investments. So, I have three 5-years plans and I am into the second level now. With 5 years done with, I have 10-years to go ... but seeing the progress, I will want to push it shorter to 8 years!! I am 45 this year, adding 8 ... I will be 53, instead of normal retirement age at 55. Some of my colleagues are still teaching after 55. I wish I am still young and being aware of such financial-knowledge 10 years earlier!! Haha. Never too late to start, tho. Hehe ... thx Jake and Stephen for comments

Posted by kuance > 2012-01-16 08:38 | Report Abuse

Thanks teh for the good advise:) we have to love what we do in order to be success... out from my financial knowledge... its like my music-loving. I learned music all by myself and by book i buy. until today... i am not that good but not as bad too... and still i love it. 10 out of 9 ppl quit guitar because it is tough. U have to learn it no matter what it is to move nearer to success... anyway, ii think this applied same to the market. Quote from my grandma,"Learn thruout ur whole life".

Posted by cpteh > 2012-01-16 08:54 | Report Abuse

Please keep up your passion in learning your music. Do go for some course if you could afford. Yup ... many in KLSE jumped in due to greed and without knowledge. Many have quitted and many more stucked inside there. Some people have high ego and stop learning. Learning is a process and your grandma's words are very wise.

Posted by Jake > 2012-01-16 11:02 | Report Abuse

Guys, what is your simple definition of being financially free? is it that when you wake up in the morning, you don't have to worry about which "Ah Long" will splash paint on your car, or is it that you have the luxury to travel the world, buy anything under the sun without any concern how it is paid off? or is it that you are not under the shackles of debts? or is it that you know you have peace of mind, freedom of choice, no need to work to put food on the table, pay your bills? Wud you consider someone who has no assets but also no liabilities as being financially free?

Posted by cpteh > 2012-01-16 11:26 | Report Abuse

will take this as a discussion and write in my blog. Thx Jake.