Hi all,

I just got a baby last 2 months and we have accumulated some cash that were given to the baby. Unfortunately I'm not too sure what is the best way to maximize the profit for her future (education & etc). Some said I should join unit trust and some even advise me to buy a gold.. but can anyone help me with this? Since there are too many banks around and I'm not really good when it come to financial mgmt.

Thx rakyat,

Basically I just need something to maximize the profit without any attachment to a policy or whatsoever.. Something that can be withdraw anytime for her needs and not necessarily have to wait till she ready to go to the univ (Assuming that she does get accepted in the uni later..b ut that one is diff story)

House or other property is a bit too high for me.. Besides, I'm just planning to add few hundreds on monthly basis into her saving.. or is there any other way around to get a property with this kind of funding?

This post has been edited by awiekupo: Sep 18 2009, 10:16 AM

opps.. sorry toriton.. typo therere.. duibuqi. duibuqi.. hehehe..

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Added on September 18, 2009, 10:23 am1) cannot lah bro.. that money had been entrusted to baby.. u know.. like yr friend or family gave to the baby.. So cant really touch that one.. have to keep for her.. hehee..

2) at the moment its ok.. i can still survive.. for future dunno yet la..

This post has been edited by awiekupo: Sep 18 2009, 10:26 AM

aa.. thx for the input guys.. really appreciate it.. now I can see much clear... if got any other ideas/comment/input pls dont hesitate to share..

I also heard about this but so far cant google much info bout this.. most of the time we have to setup a meeting with their agent and this sometimes makes me wonder what's up with all the secrecy Is there something to hide? coz I really dunwan to waste my team hearing some sales agent trying to sweet talk me over some product...

This post has been edited by awiekupo: Sep 19 2009, 11:47 AM

exactly cherroy.. totally agree with u.. most of the time they like to divert from the potential issue..

Huhuh.. just back from holiday and finish going through all the replies. I must thank each and everyone of you for all the great advice and ideas. Hope u guys dun fight2 arr coz everyone hv their own opinions and experience so one might work for the others and one might not at all..

However I'm interested to learn more about this post from xuzen

i) My wife and I both opened a SSPN a/c RM 3Kx2 p.a. mainly for tax benefit. By the time my kid reach IPT level, it should have abt RM 100K, ready cash.

(Do you mean I have to dump 6k per year into SSPN to avoid the tax? Or what is the minimum amount that need to be deposited into the account to be eligible for the RM3k deduction every year)

ii) Bought a Med Card (very important, you will definitely need it, cost of paying hospital bill is more than annual premium of the card, this I guarantee)
(Any idea or site on where I can get this Med Card? And what kind of package that I should opt for? Is this different from company medical card because my company do give a mediclinic card but I think it only cover stuff and normal clinic visit)

iii) Bought a Investment Link Life Assurance with Critical Illness Rider under my kid's name. I selected aggressive fund to maximize the rtn. Should have abt RM 60K Cash value by the time my kid reach IPT level.
(Err, again can share with me the url or any branch in KL/PJ that I can visit for more info)

iv) Continue to invest in equities on my own.
(what does this mean?)

Wow.. I can't believe this thread is still active. Thank you very much for all yr input. Really really appreciate it.

At the moment I'm still learning bout property but I had started saving for my baby via ASB (thru my wife name) & ASW (baby's name - since u need to be 18+ yrs old to open ASB account).

Nevertheless, if you do have any idea to share please feel free to post it in this thread. I'm sure a lot of people had learn a lot thru this topic.