Where to start?

[angelica9000]

I’m 21M. I’m on my 2/4 years of college(IT) and my only source of income is weekly allowances. Im lucky to finish college later debt free, and won’t have any commitments as I have a car n bike from parents, n planning to live with them until I marry (30 hopefully lol), so I plan to save up and invest a bunch until then. I know I can’t do much since I’m still in college and don’t have much to myself, but looking at the economical state of Malaysia and the depreciating value of RM, it worries me and makes me think that I need to do something about it to future proof myself. Me and a buddy are starting up a small company that’s still in its early stages, but other than that I don’t really have any commitments. Should I be worried and what can I do? Should I focus on my studies n only worry about it when I work?

Additional note, my parents also are very “play it safe” people so just ASB, Tabung Haji, n Public Mutuals. I ask them to look into stocks and banks in SG but they’re already comfortable with what they have.

 

[dongchau123]

@angelica9000 My humble opinion

1) try not to loan money from your parents for that start-up, try to fund it by working parttime or your own savings.

2) dont need to advice your parents on the investments, from what you mention they already have enough and content with low risk investment. which is understandable , they want something stable for their retirement.

3) yes you should only worry later on when you graduate , there isnt much you can do right? you are not working yet, no income, even if you worry, theres nothing you can do? just try to educate yourself on the risks/rewards of different investments etc. ready yourself for your own investments when you have disposable income.

 

[luckyleaf]

@angelica9000 EPF I think first 3.3k have 15% extra form government can look into that I assume your capital now is small

 

[cyprianus]

@angelica9000 How much do you have to be invested?

If starting out from scratch, invest in yourself first and try to secure a decent job when you finish your studies.

You know, build a solid foundation first.

In the meantime, I guess play it safe and dump what you can in ASB without crippling your uni life too much.

 

[mommaulia]

@angelica9000 In your college days, don't expect much. Just save what you can.

This might be something you already know but I wish someone reminded me of this when I was studying. While also looking into financial investments, do not also forget to invest in yourself. Study smart and try to land a job. As much as passive income can help you out, active income helps fund that.