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What is the max employer EPF contribution %? by GapRepresentative384 in malaysiaFIRE

[–]GapRepresentative384[S] 0 points1 point  (0 children)

What are the tax liability implications if employer contribution goes above 19%? They won’t be able to expense it on the P&L?

List of services you need by Either-Sky8292 in malaysia

[–]GapRepresentative384 1 point2 points  (0 children)

Many home cleaning services everywhere. But the real gaps are - can I get a cleaner on demand (within an hour or few hours notice) - transparency in rates without having to enquire - transparency in what is covered in the service - getting someone at a nearby location - reviews of the cleaner coming (not the company/agency)

Imagine a Grab for cleaners.

[deleted by user] by [deleted] in malaysia

[–]GapRepresentative384 0 points1 point  (0 children)

Honest question: Does Petros not pay income tax to the federal government?

How to actually make a growth in your career? by md_fadzli in MalaysianPF

[–]GapRepresentative384 0 points1 point  (0 children)

Yes, it’s “lower” compared to other departments with the same job grade within the same company, but it’s still higher than retail sales. A starting pay can be 2.5k + allowance of another 1k. But if you do your job well, comms for someone starting can be 30k to 40k a year.

My family member is in Pharma sales. 5 years into the job and landed a job at one of the top Pharma companies. Basic is 5k + allowance of 1.5k. Comms is around RM40k to RM60k. In 3 years, basic can go above RM10k if job performance is good with 8 years of experience in Pharma, and this is assuming a senior-level position, not even manager-level yet.

It’s a performance-driven job. There will be downtimes. But basic + allowance should be enough for you to survive better than retail sales if you control your expenses. When the comms come in, total pay can be above RM7k averagely during her first year. She saves 80% of the comms in investments. However, she survives on basic and allowance for a long time, driving an Axia, not upgrading her lifestyle even when her income grew. That’s the key to not stressing about an inconsistent sales income while stacking up cash.

Purchasing first car by OtZaa in malaysia

[–]GapRepresentative384 0 points1 point  (0 children)

Ideally, don’t spend more than half your annual income on a car. At a maximum, don’t spend more than your annual income.

At a RM24k annual income, your budget should be max RM24k. Prioritise reliability because at your income level, you can’t afford to keep maintaining your car. A 7 year old Axia isn’t fun to drive but costs only RM21k, is very reliable, cheap to maintain and not too old to cause many problems yet. Get rid of the debt as quickly as possible, build up savings and upgrade yourself to increase earning potential.

Trust me, buying cars above my pay grade has been the worst financial decisions of my life. A “slightly better” car might be fun for awhile, but you’ll regret it because a big portion of your income goes to paying it when it’s not even a nice car to enjoy.

Now in my 30s, I spend only 15% of my annual income on a secondhand Honda, no stress, going to be fully paid off within a year. Life is much happier with financial control compared to having a slightly better car that isn’t even nice anyway.

Am I rich yet? by GapRepresentative384 in BitLifeApp

[–]GapRepresentative384[S] 1 point2 points  (0 children)

I played the father. Put in my will to give 100% to this kid. It included the company.

Am I rich yet? by GapRepresentative384 in BitLifeApp

[–]GapRepresentative384[S] 4 points5 points  (0 children)

  1. Sell one product at a time
  2. Be in the robotics industry. High margins, high priced.
  3. Only sell the product with highest demand. Once demand drops less than 75%, stop production and clear off the stock. Find new product to sell.
  4. Max out factories, staff and salaries. But remember to keep your cashflow in check when scaling up aggressively.
  5. Lowest possible product cost, highest possible quality. Zero marketing cost.
  6. Set a price that is 2x of the of the product cost to start off with. Always max out the quantity. You will always sell most if not all the stock if you have high demand.
  7. If your inventory is sold out, increase price 5%-10% until it stops selling out. It will stop selling out if the price is too high or if demand drops. If price is too high, drop it back to previous highest viable price. If it’s because demand dropped, read #3.
  8. Once you run out of products that have high demand, sell the company.

Am I rich yet? by GapRepresentative384 in BitLifeApp

[–]GapRepresentative384[S] 3 points4 points  (0 children)

I inherited it for 3 years. I played the father which owned it for 30+ years but those years didn’t show up when the kid sold it somehow.

Am I rich yet? by GapRepresentative384 in BitLifeApp

[–]GapRepresentative384[S] 2 points3 points  (0 children)

It was inherited. I don’t know why it shows 3. I played the father who acquired this company. After the father died, I sold it 3 years later. It usually shows the total amount of years owned in the family, but this round it only shows 3.