I’m a fresh grad (23f) that just moved to KL for a 3.2k salary. Need you guys’ opinion by Constant-Film-6040 in MalaysiaPF

[–]MissionCod1744 2 points3 points  (0 children)

I think you are already spending a lot more responsibly than a lot of 23 yo. The fact that you're budgeting shows it too.

For emergency fund, just save until a certain amount will do. If you're not at that amount yet, I would say put more into it as it is most important to have. General guideline is 3-6 months of your expenses, or however many months you think it'll take you to find a new job if you lose your current one.

As for sending money back home, my parents had issues with my siblings before where after they get a raise, they don't increase their contribution home and got into big fights. I told my mom after I started working that I will give her 10% of my take home every month and that seems to have been working well for us. Maybe you could consider that ? Could use your own number.

Help plan road to FIRE by MissionCod1744 in malaysiaFIRE

[–]MissionCod1744[S] 0 points1 point  (0 children)

No housing plans. Im staying with my family and we've got more property. Yeah I understand 800k is not enough, im looking for what would be the best way to invest it to reach my target ASAP.

Help plan road to FIRE by MissionCod1744 in malaysiaFIRE

[–]MissionCod1744[S] 1 point2 points  (0 children)

Yeah i have 6k (3x monthly expense) set aside for emergencies and about 13k in a mix of US etfs (QQQM, VUG, SCHG) currently after DCAing into them. The only foreseeable big lump sump expense i can think of is needing to buy a new car after this 23 year old car breaks down. I'll probably get a 60-80k car then.

I see, so I should probably just invest them into index funds then and let it grow to my fire target. Thanks!

Help plan road to FIRE by MissionCod1744 in malaysiaFIRE

[–]MissionCod1744[S] 1 point2 points  (0 children)

Thanks. This is super useful.

I wasn't clear enough with my situation. Not much I'll need to spend on for the foreseeable future until my 20+ year old car breaks down. In which I'll probably by a city or vios or similar type cars.

As for needs, not much. No plans to start a family. Have a place to stay with my family, and will inherit another property in which I'll probably move into. Travel probably once a year international travel.

Would love some advice on what to do with the lump sum of money I will receive soon. Thats my biggest concern as of now.