Willing to invest rm10k but not sure what to invest in

[orthodoxokie]

Hey guys, I just turned 19 and I would like to start investing. I know 10k isn’t much but I would like to get used to investing.

I’m a newbie with all these so I would like to hear your one cents on Malaysia’s current market.

I know Stashaway is kinda risky so I’m not going to invest on that platform. Not willing to invest in crypto currently due to the high risk unless any one of y’all have a recommendation.

Could anyone guide me in which platform I should invest in? Or which bank should I put my savings in?

I was actually considering investing in Touch n go + but I’m still a bit skeptical about it.

 

[dennis1209]

@orthodoxokie If you think stashaway is risky then your options might be limited. Tng+ is fairly reputable, else you can look into ASM or just any FD offered by banks.

 

[orthodoxokie]

@dennis1209 It’s not that I don’t want to invest in stashaway, but it’s because I’ve been seeing a lot of ppl losing money in stashaway because of the fees. I don’t want to lose that confidence in investing so I would like my first investment to be safe but also lucrative

 

[dennis1209]

@orthodoxokie No such thing as safe and lucrative, else no one would be investing in risky stuff.

Only have safe and little returns.

 

[orthodoxokie]

@dennis1209 haha I don’t mind the little returns but I want the best one out of all of the safe options

 

[johnnyray]

@orthodoxokie Try this.

rize savings account

Upon activating the account, request for the debit card, the interest period only starts when you get your debit card and activate it.

Pretty good given it is PIDM insured although promotion only lasts a few months from now. Catch it if you can

 

[talkingbunny]

@orthodoxokie StashAway is a long term investment. It’s normal to see numbers go up and down, so I won’t call it ‘risky’. You stash and forget — that’s the idea.

With 10k and if you want to see ‘returns’ you can consider 6mo / 1year FD promos (4% or so) where there’s usually a 10k minimum. But you’ll have to wait of course.

Or you could do ASM/ASB — averages about 4.5% a year i believe.

Otherwise you’ll need to learn up a lot and figure out what/where to diversify.

Good luck!

 

[albert0]

@talkingbunny Sounds like someone bought into SA's marketing bullshit. You can do that and come back to find everything in deep negative due to constant realized losses on SA's side. They constantly change their portfolios every year or so so you'll never recover in the long term. It's why there are so many SA bagholders crying online. The smart ones have already cut their losses.

 

[talkingbunny]

@albert0 Look bro, you do you and I’ll do me. Agree?

 

[reallivegirl]

@orthodoxokie That's quite a lot to ask

 

[echo73]

@orthodoxokie Get to know your risk profile, how much you're willing to lose before you lose sleep, how long your money is going to be invested for. Know how much money you're spending every month, and make sure your emergency fund has enough money to cover any unforeseen spending.

Not willing to invest in crypto currently due to the high risk unless any one of y’all have a recommendation.

Blindly following advice from someone else (especially over the internet) is going to get you into trouble.

 

[orthodoxokie]

@echo73 10k is what I’m willing to risk but of course, who would want to lose money from investment(?)

I just wanted to hear a recommendation so I would know where to start. Cryptocurrency is such a huge market. But if course I’ll do my research.

 

[echo73]

@orthodoxokie It really depends on how you see things, yes you're willing to lose 10k, but are you going to pull out of the market if your holdings drop in value by 50% over the course of a year without any changes in its fundamentals (very common in crypto, common in stocks) ? Can you handle your emotions when you see the big red dip in your portfolio value when you check it?

I just wanted to hear a recommendation so I would know where to start

Start small and work your way up. if you have not started on your investment journey, first thing you should do is build up an emergency fund which can last you at least 4-6 months of expenses. Put those funds into extremely liquid investment vehicles (Fixed Deposit/Money market funds). Once you have your emergency fund settled, its time for the actual investing to begin.

Mutual Funds - Basically a basket of bonds/stocks which a fund manager manages for you. usually has higher fees and additional managing fees because the fund manager is trying their best to beat the market.

Stock market - Where stocks are bought. Typically malaysian stocks are seen as less worthy when compared to global companies stocks, but there can be the occasional gem. (DYOR, stocks are much more volatile than Mutual Funds). Many types of stocks as there are many companies which has them, try to cover the essential range of industries like semicon/FMCG/construction/tech/REITS/etcetc.

ASNB - The best rates are usually the ones which are reserved for the ones having the privilege of being Bumi. Not much i can comment on it, as i dont even have a single sen invested here.

Forex - Basically trading currencies. Keyword, trading. You ain't winning here unless you know what you're doing. Signals and invites to join telegram groups for insider info on forex trading is essentially a scam.

PRS (private retirement scheme) - Basically Mutual Funds for your retirement as you only can withdraw your money from PRS when you hit retirement age or for certain specific reasons.

Investment linked insurance - Mutual Funds with insurance product attached.

Real Estate - Properties, houses/condos/shoplots/land. Buy to rent/flip/invest for potential income.

Crypto - Digital assets, know how to store it safely, how to transfer it over which network, which coins/tokens are legit, don't get caught up in the mania. Know what you're buying into. Some coins have literally 0 utility.

It all boils down to your risk tolerance. If you can't stomach your asset dropping 10% overnight in value, certain investment vehicles definitely ain't for you.

 

[andrey1987]

@orthodoxokie If you think StashAway is risky then the crypto market is out of the question. Also might I ask why you say it’s risky? I’ve been investing with them in various portfolios with differing risk values and so far it’s made me happy. Of course, atm with the uncertainty of US inflation horizon and the regional bank failures there’s easy argument to be made as to why the market isn’t doing well nor will it do for the shorter term. In short, many places are losing money. But you can hedge potential losses by investing in ‘safer assets’ but also making sure you’ve diversified your assets so that there’s still potential growth. I’m happy to help you figure things out if you have more questions.

 

[gixxer750]

@orthodoxokie Consider ASM if you are non-Bumi. If Bumi ASB is a no brainer

 

[orthodoxokie]

@gixxer750 one of the best Malaysian advice I’ve seen here thanks. Haha I was a bit confused between the two.

 

[talkingbunny]

@orthodoxokie ASM (if you’re not bumi) is a good place if you wanna play it conservatively. They might still have fixed price units left since they increased it recently. The fixed price units are very hard to buy otherwise. If you have this opportunity, go for it.

 

[jfozzy]

@orthodoxokie ASB is trash, their whole portfolio is literally the same as EPF but the return is less compared to EPF because there are management fees or other fees, yes there are fees that are hidden from you.

 

[blueskies88]

@orthodoxokie i didnt have 1k at 19 lol. OP is reeeeccchhh

 

[lucyflora]

@blueskies88 10k is reasonable if OP started working part time during school holidays like around 15/16. Even working part time and saving all the money(if living with parents) after SPM, within 1 year can save up a lot. Not to mention working full time, or even OT.