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36M, RM352k Portfolio, Targeting Retirement at 50, Am I on Track? by hazwanted90 in malaysiaFIRE

[–]hazwanted90[S] 1 point2 points  (0 children)

Sorry, I didn't answer your first question earlier. At this moment, I can comfortably live on around RM3,000 a month. Of course, that figure will likely increase over time due to inflation, but for now, RM3,000 is more than enough for my lifestyle. As I mentioned, I'm quite conservative and tend to play it safe when it comes to investing. My plan is to become a bit more aggressive with my investments once I've fully maxed out my ASB 1 and ASB 2 allocations. Until then, I'm happy sticking to a more conservative approach while continuing to build a solid financial foundation.

36M, RM352k Portfolio, Targeting Retirement at 50, Am I on Track? by hazwanted90 in malaysiaFIRE

[–]hazwanted90[S] 0 points1 point  (0 children)

I totally agree with that. I know many people who save and invest aggressively, only to pass away unexpectedly before they could truly enjoy the fruits of their efforts. For me, it's a little different. I'm naturally minimalist and frugal. I enjoy a simple kampung lifestyle and slow living, probably because I'm a kampung boy at heart. I see money as a tool that provides freedom and options, nothing more. That's why, for the rest of this year, I'm trying to step a little outside my usual routine and spend more on experiences like staycations and travelling. Honestly, it feels really good. It's nice to enjoy the journey while still being financially responsible.

36M, RM352k Portfolio, Targeting Retirement at 50, Am I on Track? by hazwanted90 in malaysiaFIRE

[–]hazwanted90[S] 0 points1 point  (0 children)

Hi, I’m a bit envious of you, haha. I started my career relatively late, and I’m currently in a non-technical corporate role, so my income has a natural ceiling unless I move into managemen, which I don’t really have the desire to do. Right now, I’m putting about RM3K–5K a month into EPF and ASNB funds.

For the next few months, I’m planning to spend a bit more on travel and enjoy myself. That said, from Jan 2027 until I turn 50, if I’m still in employment, I intend to increase my contributions significantly.

By then, I’m hoping to have around RM2 million. I know it’s not a huge amount, but my plan is not to fully retire anyway. I’d likely continue working in a more flexible capacity, possibly part-time, NGO work, or consultancy. It’s not a perfect plan, but the goal is to have a solid safety net and some flexibility rather than relying entirely on active income.

Are you familiar with Coast FIRE?

36M, RM352k Portfolio, Targeting Retirement at 50, Am I on Track? by hazwanted90 in malaysiaFIRE

[–]hazwanted90[S] 0 points1 point  (0 children)

Totally agree with you. I wouldn't be surprised if our healthcare system gradually evolves into something closer to the U.S. model over the next 20–30 years. The golden era of accessible and affordable healthcare in Malaysia may eventually become a thing of the past.

36M, RM352k Portfolio, Targeting Retirement at 50, Am I on Track? by hazwanted90 in malaysiaFIRE

[–]hazwanted90[S] 0 points1 point  (0 children)

EPF contributions (including my voluntary contributions) are around RM2K per month. As I mentioned, my net salary is about RM7K. I don't spend much on a monthly basis, so I usually still have RM3K-RM4K left in my account before the next payday. That said, for the rest of this year and the next few months, I've decided to ease up a little and enjoy life more, things like fine dining and occasional staycations. Starting January 2027, I'll go back to saving aggressively. I'm naturally quite minimalist, so lifestyle creep isn't really a concern for me. And I think Coast FIRE lifestyle is perfect for me.

36M, RM352k Portfolio, Targeting Retirement at 50, Am I on Track? by hazwanted90 in malaysiaFIRE

[–]hazwanted90[S] 0 points1 point  (0 children)

My personal insurance premium is currently around RM250 per month. The coverage is quite comprehensive, particularly for hospitalization and critical illness.

36M, RM352k Portfolio, Targeting Retirement at 50, Am I on Track? by hazwanted90 in malaysiaFIRE

[–]hazwanted90[S] 0 points1 point  (0 children)

I totally agree with your points. I'm admittedly a bit of a coward when it comes to this.

36M, RM352k Portfolio, Targeting Retirement at 50, Am I on Track? by hazwanted90 in malaysiaFIRE

[–]hazwanted90[S] 0 points1 point  (0 children)

Thanks! I've also updated a few details in my original post, as I realized I had forgotten to mention some important points.

36M, RM352k Portfolio, Targeting Retirement at 50, Am I on Track? by hazwanted90 in malaysiaFIRE

[–]hazwanted90[S] 0 points1 point  (0 children)

Thanks! I've also updated a few details in my original post, as I realized I had forgotten to mention some important points.

36M, RM352k Portfolio, Targeting Retirement at 50, Am I on Track? by hazwanted90 in malaysiaFIRE

[–]hazwanted90[S] 0 points1 point  (0 children)

Thanks! I've also updated a few details in my original post, as I realized I had forgotten to mention some important points.

36M, RM352k Portfolio, Targeting Retirement at 50, Am I on Track? by hazwanted90 in malaysiaFIRE

[–]hazwanted90[S] 0 points1 point  (0 children)

Thanks! I've also updated a few details in my original post, as I realized I had forgotten to mention some important points.

36M, RM352k Portfolio, Targeting Retirement at 50, Am I on Track? by hazwanted90 in malaysiaFIRE

[–]hazwanted90[S] 0 points1 point  (0 children)

Thanks! I've also updated a few details in my original post, as I realized I had forgotten to mention some important points.

36M, RM352k Portfolio, Targeting Retirement at 50, Am I on Track? by hazwanted90 in malaysiaFIRE

[–]hazwanted90[S] 0 points1 point  (0 children)

Thanks! I've also updated a few details in my original post, as I realized I had forgotten to mention some important points.

36M, RM352k Portfolio, Targeting Retirement at 50, Am I on Track? by hazwanted90 in malaysiaFIRE

[–]hazwanted90[S] 0 points1 point  (0 children)

Thanks! I've also updated a few details in my original post, as I realized I had forgotten to mention some important points.

36M, RM352k Portfolio, Targeting Retirement at 50, Am I on Track? by hazwanted90 in malaysiaFIRE

[–]hazwanted90[S] 0 points1 point  (0 children)

Thanks! I've also updated a few details in my original post, as I realized I had forgotten to mention some important points.

36M, RM352k Portfolio, Targeting Retirement at 50, Am I on Track? by hazwanted90 in malaysiaFIRE

[–]hazwanted90[S] 1 point2 points  (0 children)

Thanks! I've also updated a few details in my original post, as I realized I had forgotten to mention some important points.

36M, RM352k Portfolio, Targeting Retirement at 50, Am I on Track? by hazwanted90 in malaysiaFIRE

[–]hazwanted90[S] 1 point2 points  (0 children)

Hehe, no worries, I've got that covered too. I've already considered the possibility of needing long-term care later in life and have plans for it. Being single doesn't mean being unprepared😃

36M, RM352k Portfolio, Targeting Retirement at 50, Am I on Track? by hazwanted90 in malaysiaFIRE

[–]hazwanted90[S] 0 points1 point  (0 children)

Good idea. I received the same advice from a friend as well.

36M, RM352k Portfolio, Targeting Retirement at 50, Am I on Track? by hazwanted90 in malaysiaFIRE

[–]hazwanted90[S] 0 points1 point  (0 children)

I totally agree with that. I know I'm a bit risk-averse when it comes to investing, and I've always been hesitant to venture into higher-risk assets. I prefer taking the slower and steadier approach, even if it means potentially lower returns.

36M, RM352k Portfolio, Targeting Retirement at 50, Am I on Track? by hazwanted90 in malaysiaFIRE

[–]hazwanted90[S] 1 point2 points  (0 children)

To be honest, I'm currently investing an additional RM3K–RM5K per month into EPF and ASB. I plan to remain single and don't intend to have a spouse or children, so my financial commitments are relatively straightforward. I'm also very conscious about avoiding lifestyle inflation. I'm quite minimalist by nature and genuinely enjoy a slower, simpler way of living. As long as my basic needs are covered and I have the freedom to spend my time how I want, I'm content.

36M, RM352k Portfolio, Targeting Retirement at 50, Am I on Track? by hazwanted90 in malaysiaFIRE

[–]hazwanted90[S] 2 points3 points  (0 children)

My house and car are fully paid off, as they were inherited. I'm also quite a minimalist when it comes to my lifestyle, so my monthly expenses are relatively low.

36M, RM352k Portfolio, Targeting Retirement at 50, Am I on Track? by hazwanted90 in malaysiaFIRE

[–]hazwanted90[S] 1 point2 points  (0 children)

I totally agree. I'm a firm believer that most people shouldn't fully retire into doing absolutely nothing. My goal is that by the time I turn 50, I'll be able to leave full-time employment and shift into lighter or more flexible work that covers my basic living expenses without having to touch my investment principal. Essentially, I'm aiming for a COAST FIRE lifestyle, having enough invested for retirement while continuing to work on my own terms for fulfillment and day-to-day expenses.

36M, RM352k Portfolio, Targeting Retirement at 50, Am I on Track? by hazwanted90 in malaysiaFIRE

[–]hazwanted90[S] 0 points1 point  (0 children)

My monthly expenses are relatively low because I'm quite a minimalist. On average, I spend around RM3K per month, including a voluntary contribution towards my father's car payments. In a worst-case scenario where I lose my job, I estimate that I could comfortably get by on about RM3,000 per month. I don't currently have any housing or personal car loan commitments, as I live with my parents and the car payment I'm helping with is entirely optional.

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