Good for u. Free frm house loan and car loan.

U got buy medical insurance ? And plan to start a family. This is also cost alot in long term run.

Nope. Why should I buy when I can use govt hospital service?

Some disease can be prevented. Diabetes, hypertension, kidney disease, heart and stroke are all preventable disease. Eat right (no junk food, ample fruits and veges), exercise every week (3-4x/week) don't smoke, don't drink.

Unless you want 5 star hotel treatment different story. When you are poor live like poor people. When you are rich, continue living like poor people. When you are poor and plan to love like rich people than good luck. Money will always not be enough

This post has been edited by Ramjade: Nov 9 2019, 07:22 PM

For simplicity, let’s assume USD 1 = RM 4, and SGD 1 = RM 3.

There is no issue, to save RM 1000 per month, but I have to keep the fund longer in savings account.

My Current Method
Month 1: Save RM 1000. Total Amount: RM 1000.
Month 2: Save RM 1000. Total Amount: RM 2000.
Month 3: Save RM 1000. Total Amount: RM 3000 (roughly same as SGD 1000).

On Month 4, I convert RM 3000, to get SGD 1000, via Instarem. Using Maybank Kim Eng Prefunded account, I can use SGD 1000, to purchase SGD 1000 worth of SGX REIT shares. This is assuming that the price of REIT is low.

A few months later, I would have received the quarterly dividend, for the SGX REIT units I bought.

For sure, if the price of REIT is quite high, I will keep SGD 1000, in CIMB FastSaver Account, waiting for a good time to buy.


Another Method
Month 1: Save RM 1000. Total Amount: RM 1000.
Month 2: Save RM 1000. Total Amount: RM 2000.
Month 3: Save RM 1000. Total Amount: RM 3000.
.
.
Month 8: Save RM 1000. Total Amount: RM 8000.

On Month 9, I convert RM 8000, to get USD 2000, via Instarem. Then, I will be able to pay for the initial deposit for Tradestation Global trading account.

It is clear for this method that I need to wait till Month 9, before I can open a trading account in Tradestation Global and start trading. I can purchase the SGX REIT units faster, if I continue using Maybank Kim Eng.

Sigh, it is a dilemma for someone with limited fund for me. If I need to look at long term, I have to stop buying SGX REIT, and focus on accumulating funds, for the sake of getting the initial deposit for Tradestation Global.

Tough decision for me to make.

This post has been edited by kart: Nov 10 2019, 07:00 PM

Simple. You keep whatever funds you have until a reit or a counter reach your target price. If none hit, do not buy just for the sake of buying. Eventually you will get USD2000 saved up.

That's how I did. I saved up USD2000 (in SGD terms) as there was nothing worth buying. When a particular counter catches my eye, I whack that USD2k (can't remember how much was it in SGD) into interactive broker and use that money I saved up to buy what I want.

Kill 2 birds with one stone.
- opened interactive broker via tradestation global using USD2k. (I deposit in SGD, used XE to convert and transfer slightly more)
- use the starting fees to buy what I want.

There is another alternative way. Transfer your holdings into interactive broker. That will incur cost of about SGD60. Your call. I am always ready to transfer it when the time comes if maybank KE decided to go down the path of charging their customers.

The question is not what you did. The question is how much ROI are you achieving from all your investment activities.

If you opened a CDP account right from the start, then you wouldn't have to worry about MKE (or any other brokers) charging customers.
The only rightful way to invest in SGX is to open a CDP online, no hassle and you can keep your shares for as long as you want without worry.

I did. Because of SG Gov preventing anyone with CDP who does not have SG address to participate in rights or placement the only way to participate is via custodian. Kind of old school when everything can be done online nowadays.

Why do you think I opened up maybank KE in the first place? Is because of the above. No SG address no rights or placement for you. Simple.

slowly start accumulating sgd. I also did this since few years ago. then u may invest in Sg shares. keep it up! Gambateh.

gov hospital is good but I cant bear the long queue. so I opt to get a medical card for my future use.

haha this i dun agree.. i just upgrade myself to 1.5 mil medical card.!!!
Wondering if i am crazy or not..? Paying so much $ for something that i might just not use.
i calculated some of my stocks div will will be financing this until i SAYONARA.

Do not want to burden my kids with my medical care..

Work so hard.. When i am sick.. yes!!! i want the 5* treatment!!!
as i firmly believe that.
the only person taking care of the older me..is always the YOUNGER ME today...!

AIA will insured 1.5M on yearly basis. u can check in the luxury hospital on monthly or perhaps weekly basis.

anyway, it is good to eat healthily, exercise and worklife balance too.

ya i got that.. i hv personal medical insurance since 1st day i start working.. hv not even use it once !!!
and i pray i do not have to use it at all!!!

But with it.. I can sleep soundly!!!!

Agreed the only person taking care is the younger me. That's why I took up preventive steps from now.
Don't smoke, drink, dump all junk foods/fast food, refined carbs,
Take appropriate supplements turmeric, fish oil, pycogennol, etc.
Exercise every off day.

This post has been edited by Ramjade: Nov 12 2019, 07:38 AM

wah.... lucky lo... when SGD = RM 2.....

how much per month for this AIA?? AIA got good reputation or not??

You are lucky. I started when SGD was 3.3. I just convert every few months. Never stop. Collect money, convert sgd3-4k every quarter.

During young times..u can convert sgd3k 4k every quarterly.

I worried u cant save much once u started with a small family. All is about money ! Else your spouse will give u big headache.

I got the same plan as you too just few months back. Figured that it is time to invest a little every month for healthcare as I am already in my 30's.
We worked to earn and save so bloody hard all these years, I don't want to find myself digging my own 'grave' to fund for medical fees IF anything were to happen.
The monthly investment income would be sufficient to cover for the insurance premium anyways, and I live very frugally every month. So no sweat to pay few hundred every month for the peace of mind.

Mine plan is RM400 per month, if the investment portion does really well over the years, then the premium would just stick at RM400 per month until the day I'm gone.
We can easily reduce our living expenses to pay for insurance, which can cost anywhere between tens of thousands to two or three hundred thousands per treatment (depending on the complexity).
As mentioned above, I would like to have the peace of mind knowing that I have prepared the "emergency fund" for medical purposes.
AIA reputation is good as it is not a fly by night company. It has been in existence for decades. And my mom has already made several claims for her fractured shoulder and wrist, eye cataract surgery and the most recent one, colon cancer surgery. After having been through all these, I have built up my confidence in AIA to start my medical insurance "investment" with them.

My time was ard 2.3 to 2.4

Know your priorities. You cannot buy unit trust, topup EPF, topup asnb and still expect enough money to convert to SGD right? Pick your battle carefully. Don't win the battle but lose the war. Some things just forget about it.

Live without aircon, limit internet to RM89 and phone to RM30 enough. Use small cars. Forget all toyota, big house, fine dining, starbucks, netflix. Keep electricity at RM20. Should be able to save up quite a lot. Make your bullets count. Don't simply buy for the sake of buying.

This post has been edited by Ramjade: Nov 12 2019, 10:38 AM

Prioritize what u feel important and necessary for your living.

Living without aircond ? Hmmmm bit difficult with current weather.

End of day, when you reached retirement age, what is the use of being wealthy with figures in the investment or bank account ?

The key point is must learn to balance between life and investment. I would say maybe try to enjoy life abit. Scare gone when you are 40th then like no point of saving few M in investment or bank acc.

For me, family and travelling to overseas is important. Nowadays working lifw is tough too. Many are having mental illness due to this.

My view only.