Learning from Mr. Money Mustache

The story of Mr. Money Mustache is not easily replicated in Malaysia.

He start with a Software Engineer job with salary $40,000 and eventually earn up to $120,000 per year.
He can keep his annual expense down to within $25,000, thanks to the buying power of US dollar.
He lived in a small town, where people can actually buy a 3 bedrooms house for less than $100,000.

In malaysia, it would be difficult for youths to earn up to RM120,000 per year at their earlier thirties.
Even if they can keep their expense down to within RM 25,000, this would mean no long distance travelling, for a family of three. Thanks to the low buying power of Malaysia Ringgit.
And everywhere, a 3 bedrooms house will certainly cost you more than RM 200,000.

The only advantages we have over US, is that we generally pay lower taxes (no capital gain tax especially).
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But the philosophy remain the same, if we want to retire earlier, achieve financial freedom and enjoy our life, living the way we want when we are not born as son/daughter of Robert Kuok.

Save at least 50% of your salary by
Cutting down unnecessary expense such as
i. Fancy Smartphone and Data plan
ii. Imported Car
iii. Dining out , whether in expensive restaurant or mamak stall.
iv. Clothings and other expensive staff

You can share house rent, utilities bills, internet, even car pooling with friends.

And then invest all your savings into blue chips equities or paying down your mortgage.
Invest regularly, hold the blue chip stocks, dont try to time the market.

You will be surprised how fast you can gain the most precious gifts in your life, the financial freedom.

This Forbes Interview is a good read for any of you who are interested to his story.
http://www.forbes.com/sites/laurashin/2013/10/03/how-mr-money-mustache-retired-at-age-30-and-how-you-can-too/