My First Million


Looks like my first million (RM) is getting harder and takes longer to achieve. Do you know how to self calculate your first million?

It must be on your "Net worth", not on how much cash you have.
Ok, this is just a basic calculation:

Networth = Asset - Liability

(Asset = Cash, Houses, Cars, Jeweleries, Art & Collectibles, Stocks, Bonds, unit trusts, EPF etc.)
(Liability = Home loan, car loan, credit cards debts etc.)

note: you can also add how much you spend every year on households and "bots", but normally you don't.

Looking at the above equation, you don't need to be a mathematician to understand that every year the liability increases. Though some assets like houses increase, you still get depreciation value on cars and relative value (up and down) on stocks or unit trusts.

There you go. While someone i know is getting a Nissan Fairlady for a ride, i am still far away from my first million. But this is blessing in disguise. I will work harder and smarter i guess :-).

(i think i am smarter now than yesterday)

.n.g.

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