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
@victoriousnikky My personal approach on this would be to evaluate how much time do I have to actively manage my investment.
My only advice for you is to get a new job. No reputable company will allow its employee to live on less than RM2,000 per month in 2020. You can always catch up with your awesome ex-bosses and ex-colleagues after office hours.
Good luck!
- If I do not have time or interest to actively manage my investment, I would let them sit in ASB and let the fund managers do their work.
- If I want to take some trouble to manage my investment with moderate involvement, I would go for real estate hunting and purchase one. Though real estate is not as hot as it used to be, I personally prefer to diversify my portfolio into different asset classes i.e. cash and real estate, rather than putting everything into one asset class. If I don't have any plan to work in a different city, I would want to buy one for own stay.
- If I have time and interest to actively manage my investment, I would diversify into riskier asset classes such as stock market and cryptocurrencies. As governments around the world continue to print more money to stay afloat, the financial system is awashed with new money that need to be invested. The new money will ultimately find its way into other asset classes such as precious metals, real estates, stock markets or even cryptocurrencies. Investing in riskier asset classes make sense in this case, but I won't recommend it to anyone unless they are comfortable with losing some money, in case things do not work out as planned.
My only advice for you is to get a new job. No reputable company will allow its employee to live on less than RM2,000 per month in 2020. You can always catch up with your awesome ex-bosses and ex-colleagues after office hours.
Good luck!