The different way towards financial independence

by - April 10, 2017

Here are the stories of my friend's financial journey. I knew them around the same time in 2011, when we were all broke and talking about money was straightforward and innocent. We all took a different route and approach in personal finance works.  Fast forward six years and this is where they are today in the late '20s. I like to share these because it shows how things can be possible for everyone.

1. The conventional investor - Engineer - 27 yrs old
He started off with a salary of RM4000 and save RM1200 each month. RM600 each in tabung haji and ASB. That is on top of the RM150,000 house he owns. I never ask how he's doing now, but I know he has a minimum of RM150,000 in cash. Yes, I believe one can never be poor if you qualify for ASB and other peaks that you must claim. (But you must be the first class citizen to qualify)
2. The unconventional trader - Trader - 29 yrs old
A genius friend of mine, who unfortunately is not eligible for ASB. Yet, he has a brilliant mind. He trades equity from the first day of graduation and never turn back. I do not know how well he does but it's been six years, he bought a car, bought a high-end condo and has never thought of trying a 9-5 job. It wasn't family money, and no, he's not involved in any invest-with-me scam so that must be something.
3. The shopaholic with an asset - Banker - 26 yrs old
Even my shopaholic friend has a way of building financial security. She bought an RM280,000 unit in 2012 and has since rented it out near to RM2,000/month. Yes, she doesn't save and splurge on fashion, food, travel, products. Nevertheless, with the income generating condo, the likelihood that she will retire with a good fortune is rather certain.
4. Work at a different place - Engineer - 28 yrs old
This university friend of mine was making RM2,000-RM2,500 a month until he decided that enough is enough and drove over to Singapore in early 2013. It wasn't such a long drive, and he started with around SGD3500, and now he is making close to SGD6500. His saving is growing 6x my rate. 6 times eh! It's not like I can eat white bread every day and save that.
What's your story?

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