Pai, thank you,.... well, I guessed I am not a very good prop investor, I am not comfortable to go through the risks of this investment again.

Gentlemen, Xusen, Dreamer, thank you and appreciated your comments. I hoped ther will be more forummers here who will help top comment for me. I too always try to provide my advice where possible and I think productive.

this sound like some sorta Financial Planner kinda stuff which i hv attended...

Hi, qq,... sorry, don't get what you mean ? ...can elaborate please ?

Lawyer1,

If I am in your position, the ONLY kind of insurance that I may consider is Critical Illness Insurance only. And, the coverage has to be at least 1 million to 5 millions. Shop around and see whether you can get a good deal.

That is one of the financial risk that you have not covered.

Plus, I will move some of money oversea too. Too many eggs in Malaysia basket is not safe too. And, if your children will be studying oversea, the money is there first.

Dreamer

Dreamer, many thanks again. On your recommendation, if you look at my portfolio, I only have 542K in the local Gov't bond, well that's those fixed-price bonds (ASM and ASW2020, no AS1M), and most of my money is invested overseas.

Would you recommend that I take out this 542K too and take them out ? I was thinking, after all, the investment with PNB is quite safe with yearly 'okay' dividends, but don't know for how long more-lah,....

Yes, I did think of the Critical Illness policy too previously, okay, you confirmed it. But why insure so much, 1 Mil to 5 Mil ?

Actually there is one more 'exposure' in my plan - childrens' overseas studies. I do hope to be able to send them to, say, North America,... quite expensive, and if the course is a major one, eg medicine (if they can study-lah), then by the time they grow up, I'm sure the tuition fees and the living standards would have been very high,... around 1 Mil Ringgit for the whole course, perhaps ?

Of course, another course of action I can take is to start applying and working towards being a PR in the selected country.

Other than the above, well,... I would think I am pretty set-up for the rest of my life,....

Please do advise, Sir,... hmm no one else seems to be helping me here except Dreamer, Pai and Xusen,... hoping for more advice from others too. Thank you,....

You already have more money than most other people can earn in several lifetimes.

You are "pretty set-up for the rest of your life".

Exactly, what sort of other advices are you still expecting from others?

a) haha...u considered ASM/ASW/AS1M as govern's bond, actually it is a fixed price equity fund managed by PNB, but you are not wrong as it is fixed at rm1/unit with stable return for the last 10 years. So i dont think u shd channel out the rm542K as "bond" in other country may not pay this stable income return, another good point for keeping $ in Malaysia is that u r not subject to the exchange risk (USD is depreciating now) plus u can use it anytime in Malaysia, as PNB products do not have tie in period, u can withdraw any amount anytime.

b) about the saving for children's overseas study, for my case, my parents do not financially support me in my tertiary education, they only did it till my secondary education, so for the degree programe i had self-financed myself, i made some part-times job whenever i can during my study time, and involve in small biz selling grocerry in uni Campus, this make me a good entreprenuer, and developed what i am today. Saving rm1million for child education is not my way, for my case, i will rather enjoy what i have earned, but not to give spoon feeding rm1mil fund for their tertiary education, if they want to spend rm1mil in education, they need to fight for it, getting scholarship or gain themselves. Furthermore, PTPTN loan is always available for those who can make it upto University in Malaysia (PTPTN open for both private and public uni students). If they study good enuf like getting 1st class degree, the loan will be converted to scholarship. So no burden for them to repay if they are really smart.

c) You want to become a PR of selected country, do u mean singapore? For me, Malaysia is still the best place to stay, the living cost is among the lowest in developing country. Plus Malaysia is where i was born and raised, Do you know that many Singaporean migrates to other country as well? It is funny that we Malaysian chinese rushing to migrate to singapore while singaporean migrates to other countries.....If what u think is migrating to AUD/NZ, i think they also have some racist issues there....so think twice.

well Lawyer1, I would keep the ASM/ASW2020 since it's actually more than OK return for that kinda risk...

If I were you, I would probably buy 1 or 2 more properties & put more money in foreign shares...

I'm much less experienced than you financially...but about medicine in the US, it's not just about the cost. I did some research some time back and it looks like only something like 2% of the places for medicine is available for international students:

https://www.amherst.edu/admission/apply/int...ational/pre-med

Maybe you should consider the UK/AUZ for medicine studies...

About migration, maybe that's for your kids to consider, but i assume for your case since your business & contacts are in Malaysia, why move away from your source of income? I had met a few of my dad's friends who moved to Australia & are now complaining that they shouldn't have moved in the 1st place...sure you get so called good governance, maybe better standard of living but it's the "status" they missed the most.

This post has been edited by exp007: Sep 20 2009, 06:42 PM

Lawyer1,

1) ASM, ASW2020

I DO NOT TRUST the government. And, I am AGAINST NEP. So, NO ASx for me. I ONLY recommend ASB for BUMI. I ONLY invest on PBBank in Malaysia. It has done much much better than those ASx in term of dividend yield. Plus, I get GREAT capital appreciation. Do you OWN study before investing in PBBank. I ONLY put 5% of my money in PBBank. 90+% of my money is in oversea.

ASx are NOT bond fund. It is 80% to 90% invested in stocks. And, they are MOSTLY in GLCs.

2) Oversea Education

If it costs 1 million, why do it?? The children will have a better life living off the 1 million than spend it on education. Plus, your children MAY NOT be the study kind. No, I do not think it will cost 1 millions. The cost of college education has grown TOO MUCH and it is about to change. This has to follow the law of supply and demand. If it costs too much, the demand will not be there.

3) Critical Illness Insurance -> 1 million to 5 millions

You have a lot of savings. So, unless the Critical Illness costs you 1 million, it is NOT a problem for you. Hence, it is NOT a FINANCIAL RISK. Why buy insurance in that case?? You buy insurance to cover FINANCIAL RISK that you cannot handle. Critical Illness that cost 1 million is a POTENTIAL RISK for you.

Dreamer

This post has been edited by dreamer101: Sep 20 2009, 10:03 PM

do u mean PBB share or Public Mutual Fund?

90% of your money to oversea? investing the stocks there?

lonelyplanet92,

PBB Share.

Why be a "gambler" when you can own the "casino"??

By owning PBB share, I make money from ANYONE that buy Public Mutual Fund regardless of whether those people make money. Aka, owning the casino.

Dreamer

---

Added on September 20, 2009, 10:01 pmLawyer1,

<<Foreign Currency FD>>

If it is in Malaysia, it is STILL not oversea. At your level of wealth, I will be more comfortable opening an account in Singapore and keep the money there. IMHO, foreign currency FD in Malaysia is NOT a good deal. At your level of wealth, you could have just open an account in that country. You can start at Singapore. Then, you could either diversify to HK or Australia.

CrossFirE,

I invest ALL OVER the world and multiple asset classes: Stock, Bond, REIT. Search on "dreamer" to get all my posts and detail

Dreamer

This post has been edited by dreamer101: Sep 20 2009, 10:04 PM

Ok here's my comments:

1) Haven't filed your annual taxes or filed it in good faith to LHDN.

2) You forgot one important asset. The value of your company.

3) If you just move funds to and from company account to personal account, as you need, without accountability tracking, it's bad for company books, and shows lack of financial management at the company level.

4) Great investment portfolio. KWSP savings is low based on annual income at early 40's, meaning pretty low self declared monthly salary all this time.

I'm also a business man in my 30's, with my own Sdn Bhd, and our financial management principals for our companies differ significantly. Company generates net profit of RM1.7-2+ mil each year and annual turnover of Rm 8-10mil. I know exactly how much my company cash balances and personal balances are thanks to bank statements and financial software!

This post has been edited by GeekinE90: Sep 21 2009, 10:13 PM

Dear forummers, thank you all for your good comments/replies,.... I have been busy doing something new in this holiday season, thus,... am sorry for my delayed replies,...

I start with my replies to Monsieur lonelyplanet in colored fonts below :-

Yeah my bad. I am thinking about his case too much from my personal bias.\

Xuzen

hi guys,

i was thinking of a way to save money. i earn 2.4k a month and i just graduated on May this year. i was thinking of saving money with my current income and would like to invest if i got enough of money and i would like to know what kind of saving methods you guys are using. some forumers mentioned that save 15% of your gross income ( after EPF and other stuffs right? ) and use all the others?

for my current situation, my spending and expenses in a month written below,

Petrol = RM 350
Food = RM 400 (sometimes eat with gf and i spend it )
Utility bills = RM 450
Other expenses = RM 300 (Entertainment stuff and ETC)

all add up together and deduct from my gross income, i only have below RM 700 left. is this good enough?

come and share your methods and care to give me some advices? smile.gif

thanks!!

My replies as below in Red for Monsieur exp007,... merci beaucoup,....

Replies to other successive threads will be coming soon,...

Xusen,,, I appreciated your reply, though the perspective came from your personal bias,.... I thank you again,....

Monsieur Dreamer, thank you,... agreed with your point quite-wholly....

This post has been edited by Lawyer1: Sep 22 2009, 11:55 AM

If RM 700 is the surplus, it is a very good start. Start regular savings ASAP and defer big ticket spending. You have enough for your current level of commitment, but you do not have enough to take on big debts e.g. car or house.

Xuzen