Meeting up my course mates in Johor Bahru for the final time before I end my journey with the current company. Next week will be the transitional moment for me and more excitement coming! To me, sometime we just need such casual catching up with the closed friends that we have which comes invaluable. It is not easy to keep in touch with friends that we fight and play together, experiencing stuff together and hone the bond. With that, we make good friendship that lasts.
Getting to know everyone’s direction and keep each other intact with the current market trend and opportunities, is always fascinating. We will never know when we can get some jackpot hit or a reminder that will save our ass through gossiping. In addition, sharing experience between friends also could give us different perspectives of how work life in different scale of company. That’s the reason that I think it is a great thing that we could see things that we are unable to be there personally.
I think most of my friends as in architectural course mates are working in Singapore. The temptation of SGD is real and estimating one can save around 1k SGD per month and with one month bonus at its minimum. That would put a person saving up to 15k saving per annum. Working there for around 3 years, one can accumulate an amount near to 50k which could be equivalent to 150k MYR! In Malaysia, one could hardly get that accumulative saving just by being an employee and that’s why working in Singapore is definitely a place that could accumulate cash.
No doubt, it is a good amount to start with, assuming you want to invest in a property for around 500k value. Then, paying up around 50k downpayment and other expenses for like 20k, one still left with around 80k to play with. Assuming 30k is used for minor renovation and buying furniture, that would left us with 50k. Paying down mortgage loan is another concern whereby we need to pay around 2.5k per month for the property. Thus, with the 50k, we can use that to pay for 20 months, near to two years without worrying on any cash flow problem for property purchase. Not a bad deal while we can build up the cash flow needed in 2 years time.
It really depends on how we want to play with the wealth accumulation game. We have the choice to choose which path we gonna take and I believe that, in the end, we will definitely got what we want if we are serious enough to pursue and take action!