chrysallis
New member
@lucyflora wait... you get to keep what you make from part time during 15/16??
MOMMM! THIS IS NOT FAIRR!!
MOMMM! THIS IS NOT FAIRR!!
Willing to invest rm10k but not sure what to invest in
- Thread starter orthodoxokie
- Start date
@chrysallis even taking away Angpao money is already unfair, if parents take away their children's part time money when they're not legally adult or the family is not in dire strait, it is monstrous lol
@lucyflora As a parent, my kids do not see a single cent of their ang pao. All of it goes into long term savings. How is that monstrous (yes I guess there can be an argument made that it is unfair)?
@blueskies88 same bruh
orthodoxokie
New member
@blueskies88 Haha thanks. It’s a cumulative of angpao and part time job and some work I do on social media.
shekinah33
New member
@orthodoxokie Before you start investing, get your financial priority in order:
Assuming your financial house is in order, the best thing you can do is dollar cost average snp500 since you're 19.
What is it:
Why it works:
Assuming your financial house is in order, the best thing you can do is dollar cost average snp500 since you're 19.
What is it:
Why it works:
@orthodoxokie You have time on your side.. If I were you. I will put all in ASB/ASM, keep adding and never touch the money for 10-15 years. The great Albert Einstein once said: “Compound interest is the eighth wonder of the world.” And with time on your side it will continue to multiply.
orthodoxokie
New member
however, what do you think about touch n go+. It has a 3.5% pa right now@orthodoxokie ASB or ASM is a solid choice, literally a better version of FD (no PIDM protection though I think, but my personal opinion is that the country has to be in really deep shit for ASNB to flop)
I've heard people having problem trying to cash out for tng go+, I've not cashed out myself so haven't experienced that
I've heard people having problem trying to cash out for tng go+, I've not cashed out myself so haven't experienced that
talkingbunny
New member
@orthodoxokie TnG is not secured by PIDM, I believe
@talkingbunny ASNB products also not protected afaik
https://www.pidm.gov.my/pidm2022/media/downloads/Sistem-Insurans-Deposit-Risalah.pdf
they belong to unit amanah
so far I've only found hong leong bank stating clearly about PIDM protection for ASNB products:
https://www.hlisb.com.my/content/da...ing-i/hlisb-asnb-echannel-services-faq-bm.pdf
https://www.pidm.gov.my/pidm2022/media/downloads/Sistem-Insurans-Deposit-Risalah.pdf
they belong to unit amanah
so far I've only found hong leong bank stating clearly about PIDM protection for ASNB products:
https://www.hlisb.com.my/content/da...ing-i/hlisb-asnb-echannel-services-faq-bm.pdf
talkingbunny
New member
christianinchrist
New member
@orthodoxokie 10k is a lot and a great start, especially at your age! 
Some thoughts:
(1) Don’t put all your eggs in one basket / diversify. Based on your risk appetite, figure out for yourself what % of your wealth should be parked in fixed deposit accounts (very safe) vs other instruments.
(2) You already know this, but good on you for avoiding crypto. Also avoid any investment opportunity that seems too good / too high return. If you want to play with fire, it’s ok, just put in how much you’re willing to lose (back to point #1).
(3) Some investment instruments you can try:
Try investing in an index fund eg S&P 500. Do a little research on active vs passive/index investing to understand why it tends to do better.
There’s also ASB/ASM which give decent returns and so far haven’t had major problems. You can try other unit trusts but be careful with fees. If you want, you can invest in specific stocks but that takes more research and it’s harder to diversify easily.
You could also check out self contribution to EPF. It’s very safe and a pretty good dividend, but you forego being able to withdraw your money till retirement, for the most part.
You can divide up your money and plonk them down in a few of these options to diversify.
Some thoughts:(1) Don’t put all your eggs in one basket / diversify. Based on your risk appetite, figure out for yourself what % of your wealth should be parked in fixed deposit accounts (very safe) vs other instruments.
(2) You already know this, but good on you for avoiding crypto. Also avoid any investment opportunity that seems too good / too high return. If you want to play with fire, it’s ok, just put in how much you’re willing to lose (back to point #1).
(3) Some investment instruments you can try:
Try investing in an index fund eg S&P 500. Do a little research on active vs passive/index investing to understand why it tends to do better.
There’s also ASB/ASM which give decent returns and so far haven’t had major problems. You can try other unit trusts but be careful with fees. If you want, you can invest in specific stocks but that takes more research and it’s harder to diversify easily.
You could also check out self contribution to EPF. It’s very safe and a pretty good dividend, but you forego being able to withdraw your money till retirement, for the most part.
You can divide up your money and plonk them down in a few of these options to diversify.
orthodoxokie
New member
@christianinchrist I actually researched on index fund but where do I start? How do I invest in it?
andrey1987
New member
@orthodoxokie To invest directly into the US index fund you’d need a CDS acct and broker which can be costly esp when you’ve factored in the currency exchange. Also, it’s difficult to make any changes due to time differences and location. I invest in index funds such as S&P500, Nasdaq and the Dow Jones via Stashaway’s flexible portfolio. They charge minimal management fee (less than 0.5%).
david12345
New member
@orthodoxokie 19 with 10K? SPEND IT. Just kiddin.
Okay, here is my suggestion.
If you dont wanted to use that money for the next 3 or 4 years then :
You should use ASB Financing.
Yup, the Financing one instead of the normal ASB. I promised you, ASBF/ASB was 0 risk investment. The worst case scenario would be you just get 0 divident (which never happen in entire Malaysia history, not even when Covid). You set aside at a certain bank which you would never touch. For me, that would be Affin Bank.
If you not sure if you gonna use it for another 2 or 3 years, then :
Tabung Haji is another great option. The return is really underated. For only around RM1300. I got RM59.00 per year for a return. Now, if if was RM10K, you shall get at least RM500 per year. That is quite a lot arent it?
Or If you wanted to use that money for a small spending or etc, then the best answer would be:
TNG Go+.
Well, unlike those two which might need you to present at the bank if you wanted to take out your money for emergency use or etc. TNG Go+ on the other hand is great as you can just use the money for daily use. Just like your usual TNG. The returns would be for every RM100, I believe you got a daily return of 0.01.(Yup, it credited to your account daily, so it is much more satiesfying if you are a type of person who wanted instant result). Well the stated rate was 3.49% per annum. So if you keep exactly RM10,000. You will get RM349 per year. Hey, it might slightly lower than the other two but it is very liquid. You can use it everyday, but also got a pocket money. Why would you rejected that.
Well, these are the best way I could think of. But just a friendly reminder, I'm by no mean a Financial advisor. Let just say I'm also started with around 14K at the age of 19.
But I did spent it to travel to Japan, South Korea and Singapore tho. Now I'm just a brokie with around 2K at the age of 20
. But hey, I'm a uni student tho. Let strive for 100K by the age of 25!
Okay, here is my suggestion.
If you dont wanted to use that money for the next 3 or 4 years then :
You should use ASB Financing.
Yup, the Financing one instead of the normal ASB. I promised you, ASBF/ASB was 0 risk investment. The worst case scenario would be you just get 0 divident (which never happen in entire Malaysia history, not even when Covid). You set aside at a certain bank which you would never touch. For me, that would be Affin Bank.
If you not sure if you gonna use it for another 2 or 3 years, then :
Tabung Haji is another great option. The return is really underated. For only around RM1300. I got RM59.00 per year for a return. Now, if if was RM10K, you shall get at least RM500 per year. That is quite a lot arent it?
Or If you wanted to use that money for a small spending or etc, then the best answer would be:
TNG Go+.
Well, unlike those two which might need you to present at the bank if you wanted to take out your money for emergency use or etc. TNG Go+ on the other hand is great as you can just use the money for daily use. Just like your usual TNG. The returns would be for every RM100, I believe you got a daily return of 0.01.(Yup, it credited to your account daily, so it is much more satiesfying if you are a type of person who wanted instant result). Well the stated rate was 3.49% per annum. So if you keep exactly RM10,000. You will get RM349 per year. Hey, it might slightly lower than the other two but it is very liquid. You can use it everyday, but also got a pocket money. Why would you rejected that.
Well, these are the best way I could think of. But just a friendly reminder, I'm by no mean a Financial advisor. Let just say I'm also started with around 14K at the age of 19.
But I did spent it to travel to Japan, South Korea and Singapore tho. Now I'm just a brokie with around 2K at the age of 20
. But hey, I'm a uni student tho. Let strive for 100K by the age of 25!orthodoxokie
New member
@david12345 The only reason I wanted to invest is because I get a lot of motivation when I see less money in my bank acc if that makes sense.
Investing would help solve my laziness and also I can earn money from it. I’ve never heard of ASFB before but I’ll check it out. Could I invest in ASFB with a Public Bank acc?
Thanks for the comparison too. I’d opt for Tabung Haji since that looks like a better investment than touch n go+ haha
Investing would help solve my laziness and also I can earn money from it. I’ve never heard of ASFB before but I’ll check it out. Could I invest in ASFB with a Public Bank acc?
Thanks for the comparison too. I’d opt for Tabung Haji since that looks like a better investment than touch n go+ haha
@orthodoxokie I have a question. Can a non muslim open Tabung Haji? And is that a saving account that give a better rate or is it an investment product?
theologybuff
New member
@orthodoxokie Put into FD and take your time researching. Risk free, and the only thing you lose out is opportunity costs. Just walk into a bank and ask how you can make a FD and ask them to explain how the process works for you.
orthodoxokie
New member
@theologybuff Thanks for the lesson. But FD right now has a 2.85% pa however touch n go + has a 3.5% pas. Shouldn’t I invest in 3.5% instead?