resjudicata
New member
@victoriousnikky look into palantir $PLTR because we don't want chink ccp here and profit at the same time
Some Advice Needed For a 26 y/o Bumi Noob
- Thread starter victoriousnikky
- Start date
@ellie1998 the ASB.. i use the dividen to roll back the money inside the account,.. but recent years show i need to top up more and more cuz the dividend we get is dropping.. do u think its wise to stay in this scheme?
@wisefly Ahh so I guess you're using ASB financing. To be honest I will never recommend loaning money for investment especially in this recent years.
By using dividend to roll back money do you mean using your dividen to pay the monthly loan? Not especially a wise choice because you lost compounding benefit there.
With BNM lowering OPR you should enjoy slightly lower monthly payment which hopefully could cover your lost although realistically, I don't think ASB performance would improve much this year.
By using dividend to roll back money do you mean using your dividen to pay the monthly loan? Not especially a wise choice because you lost compounding benefit there.
With BNM lowering OPR you should enjoy slightly lower monthly payment which hopefully could cover your lost although realistically, I don't think ASB performance would improve much this year.
estradamanny98
New member
@victoriousnikky Hi fluffyJerks,
I'm a licensed financial planner. My general advice would be to save at least 6 months worth of expenses in ASB. Maxing out ASB is all well and good, but the key thing is, if you now have the 6 months worth of expenses accumulated, then what is the balance for?
The reason why this is important is that you have to have a long term goal of what you want the money to achieve. Let's say, that your monthly expenses is RM2k. That means, you should hold at least RM12k as emergency savings (which you do have). So, RM180k - 12k = RM168k
I'm a licensed financial planner. My general advice would be to save at least 6 months worth of expenses in ASB. Maxing out ASB is all well and good, but the key thing is, if you now have the 6 months worth of expenses accumulated, then what is the balance for?
The reason why this is important is that you have to have a long term goal of what you want the money to achieve. Let's say, that your monthly expenses is RM2k. That means, you should hold at least RM12k as emergency savings (which you do have). So, RM180k - 12k = RM168k
victoriousnikky
New member
@estradamanny98 A very detailed explanation! Thanks a lot for taking your time in typing this out. Super helpful, I greatly appreciate it! 
toadused2stink
New member
@victoriousnikky Ive been working for 5 years and i barely have 20k in ASB lol
@toadused2stink its okay, it is not a race! remember, different people different opportunities/commitments. let's focus on building our personal wealth without using peers as benchmarks.
remember, different people different opportunities/commitments. let's focus on building our personal wealth without using peers as benchmarks.sophiaofthemoonlight
New member
@toadused2stink bahahaha broooo we on the same boat. ngahahahaha
samretired
New member
desperatehokie
New member
@samretired and for non-bumi?
samretired
New member
@desperatehokie Can go for ASM (super hard to get).
If long term can go for stashaway
How old r u n how long do u plan to invest.
If long term can go for stashaway
How old r u n how long do u plan to invest.
desperatehokie
New member
@samretired i see alright thank you