My Wonderful Financial Dream...

If I am going to start enter in job market in 24 (I will graduate at late 23), then I need to plan my financial goal well for my future.

Well, I wish and would like to achieve financial freedom at 50 years old. That means I have to save and accumulate a total sum of million net cash in 26 year’s time.

Emm…if start working at 24 years old, just to save a proportion of money and have the money being invested at a compounding interest rate of conservative 10% annually, I was just need to save around RM800 monthly in average, that’s seems not a big problem to me.

But~wait wait wait wait….How about asset? I also wanna purchase some property assets too, with an estimated 7% (based to current Commercial Bank BLR) mortgage rate annually, for a common middle class property of around RM200000, if I purchase at 30 and wish to fully occupy it within 10 years time (wishly between 30-40 years old), it means I need to paid a sum of RM394000 for that. In other words, I have to allocate around another RM800 monthly since 24.

What about a car? Not going to set a too high target, If only just going to get a “Middle Class National Car~:P” Perodua Kenari cost around RM40000 once I have reached 24, and finish all the installment within 5 years with an current loan rate of around 3%, that would increase my monthly saving amount of RM650.

Well, insurance is important too; maybe I will just allocate a RM200 monthly for that particular purpose and increase that proportion if it is necessary at future.

Hmm…seems like I had plan enough for my financial needs, but I think it is better to allocate more RM300 monthly for extra or emergency usage, if there is luckily nothing extraordinary happen before I reached 50 years old, huh, it will be another big sum total of RM110000 at that age.

Huh, now lets sum up all my saving needs one by one…RM800+RM800+RM650+RM200+RM300, the total is…….dang dang dang dang~RM2750, RM2750 monthly~is monthly~! And it is just saving only, not included my daily expenses…Oh shit, If I really wanna achieve that financial dream, that means I need to get a very very high paid job…walao, or either seeks for part time job?? Part time job? It will definitely kill me man~!

Sigh…seems like I have to expand my financial freedom due date to 65, or to adjust my financial goal at a lower level…well, that’s means I gonna calculate again…@.@...so now I know that’s not a easy things to become a financial planner…lol….gonna seriously consider whether want to step on to this career or not~haha~

Conclusion...wonderful dreams always hard to achieve one...sigh...so just keep on dreaming...just like what Jacky Cheung song said: "Life is Just Like a Dream"~what your say~??? :D