Just beware, the info given by them the last time may hv changed substantially.
Also their decision made to buy and hold may not be the same as yours.

Not everyone have the heart to leave their family alone and leave them to die in Malaysia. I know many can.

and

Money is not everything

This post has been edited by jyll92: Apr 29 2024, 03:49 PM

I would say most jobs (>90%) requires one to be at work location to earn.

Currency and income arbitrage is less common than what we see on Socials.

Yes, indeed. Victims of echo chambers like /r and skewed perspectives offered by social media.

People here are just too negative. Malaysian's complain about Malaysia, yearning for Singapore. Singaporeans complain about Singapore, yearning for Australia. And so on so forth.

Agree. If they can’t be happy with where they are they won’t be happy anywhere

What is the best currency to hold as I am thinking moving away from MYR at the moment?

I can’t tell you what is the best currency, but I can share with you the ones I carry at the moment - SGD, AUD, USD and NZD in order of decreasing amounts

You won't go wrong with CAD, USD, SGD, GBP, Euro. I am mainly SGD and USD.

Anything but ringgit.

This post has been edited by Ramjade: Apr 29 2024, 10:24 PM

im 30y old in kuli IT career

i saw this tread and i seems "How the hell you guys can save a lot"
i came from b40 family from east cost, and something i need to gave some money to my parent & siblings not much just a few hundreds

Hope this can get align back on my mission to follow you guys step

i would love to get advice on this

Loan
House = RM460k - RM2100/month remaining RM420,000
Study loan = RM88,+++ remaining RM45,+++
Transport = RM45,+++ remaining RM24,+++

Assest
Physical Gold = RM20,+++
Cash investment = RM25,+++

My current goal is to get RM100k worth of cash investment, pay up my transport -> study loan -> then house

This. SGD and USD is probably the best option, as USD is still the anchor of the world currency, so its accepted easily and SGD's monetary approach means its value would be less volatile.

Focus on growing your income (active and passive) and assets. Spend less than you earn.

Dont worry too much about paying off our debts if they are the low interest type. Just pay the installments on time.

Everyone's on their own journey, so don't compare la. You are doing great so keep it up.

My 2 cents on this:

1) You have too much in gold. It's a good hedge against stock market but given your horizon is long, there really isn't a need to have such a big allocation in your portfolio.



2) Focus on increasing your income. That's really one of the easiest and fastest way to improve financial wellbeing of a person, and one that is very much ignored by most.

3) For the loan, what are the interest rate on those?

Comparison is the theft of joy.

I only ever use the achievements of others to set benchmarks for myself, never to compare my lot with theirs.

From what I can see, you're doing well for yourself, and you have many productive years ahead of you. I agree with what fuzzy said - Gold sounds good to hedge, but it actually costs money to hold and is worthless unless you sell it off (and then, what are you going to do?). I'd probably focus on higher yielding instruments like investment grade/dividend stocks since you can easily earn back what you (touch wood) lose (if it ever comes down to that), given your young age.

Your filial piety to your parents is commendable and I think you got your priorities right Well done

hi, b40 here too in the past.

debt is one obstacles to your ability to save money, because your money is spent servicing the interest rate.

check if you investment earns more than your debt interest. if it doesn't, then time to pay off your high interest debt.

as the rest day, SAVE SAVE SAVE is your best friend, and ACTIVE INCOME is your next best thing, after passive income/ interest income.

find ways to make money. all the best, brother.

House - Possible to stay with your parents and rent out this house?
Transport - Get a cheaper car next time, one you can comfortably pay with cash or within 2 years.
Income - Learn up another skill to help you with a 2nd income.

Your commitment is pretty high. You need to build up your liquid asset so you dont miss out on investment opportunities in future.

3) For the loan, what are the interest rate on those?
house 4.5%
transport 4%
loan (ptptn) - 1%

House - Possible to stay with your parents and rent out this house?
Not possible - because i come from east coast, i am first generation coming here. Need to stand on my own, parent in east coast.
Transport - Sure this one i think once done with the payment i will not add more liabilities
Income - ongoing... i skill my self up and trying to be the best in my own field. For 2nd income i'm not sure yet, because my 1st job already taking too much time in my daily live. But let see in the future if i can free up some my time and find 2nd income

you can refer to what Warren Buffett say about gold. That might change your perspective towards gold, who knows?

forget everything about now.

ask yourself how much per month you need to live comfortably. And then set target to earn that amount through passive income. How much amount you need to save up in order it can generate the passive income.

you are in IT. Then you are in the field where your work can be done remotely and potentially earning foreign currency while living in M'sia.

I also used to follow this warren buffet advice.

Then I changed my mind and 2017-2018 started to buy gold seriously. The investments I made in those years have doubled in value with >10+% CAGR.