Yes, when you are investing, you should define the followings:
1. Your investment objectives
2. Your time horizon
3. Your risk tolerance
4. You financial capacity

To invest safely and for the long term, you can only use money that you can put aside for a long time that you will not need.
The first step is to save and then invest the savings.
However, in the face of so much debts, it is prudent to pay down the debt quickly. This would be the priority.

OT a bit.

Mr.WB has been just diagnosed with cancer.

What a sad news in fact.



This post has been edited by SKY 1809: Apr 18 2012, 10:01 AM

I think this is not life threatening.
He will live at least 10 years (Recall the late President Mitterand of France)
He will probably die of something else.

Pardon my ignorance , WB refers to MR. Warren Buffett ? ?

Why my dunggu colleague gaji already so rendah but yet wanna tipu bank with forgery document to apply loan for a car he can't afford to buy. Still can boast about it some more. Last year his whole car flip accident in Cyberjaya and only recently met with minor accident with gf car. He claim socso la just to do down-payment car. Is this a proper way to financial management?

Style mau, menang (financial freedom) tak mau mar.
To some, muka is a high priority - it's their life, their choices.

Perhaps it's to "get a girl"? Still in that stage of mentality and willing.
Hhehe speaking from RECENT enough personal experience where a woman i was after asked me to buy/upgrade to a "better" (read HIGHER BRANDED) car since i can afford to and because she wants "her parents to think higher of me". <claps hands and summons> NEXT!

This post has been edited by wongmunkeong: Apr 19 2012, 08:04 AM

True. I don't have a car and so I have no girl friend also. Nowadays hard to get date without a car .

This post has been edited by kinwing: Apr 19 2012, 10:44 AM

Well, considering your returns on investments thus far (last we ding-donged ), U'll have more than necessary to provide, care for and grow a good family soon enough (ie at a young age) Then it is U that will be choosy IF U wish

Build it, and they will come <'ala field of dreams>

I'm the opposite. Just had a cold war with bf couple weeks back because he booked a PriusC without dicussing with me and making any financial planning. haiz~

Yeah - i feel U.

Thus, when my friends/acquaintances pooh poohed my suggestions that financial goals should also be part of a couple's / partnership's discussion BEFORE marriage and DURING marriage... i went like Hard to meet or exceed each other's expectations when it's not discussed and brought up lor. The worse ones actually knowingly goes against what was mutually agreed

Recently I have changed new job with 70% salary increment. So finally I plan to go own a car and told my friends about my plan and also want to ask for their opinion on what type of cars I should buy. However, their first thought are "Bro, you are going after hot chicks with your car!?"

Congrats KinWing - give value, get value
Cocky a bit lar with your buddies - "No lar, not going after hot chicks. I just want one to be able to outrun them - so many chasing me"

BTW, on cars - i'm sure U'll be analyzing them for cost vs functionality vs maybe.. hotness hehe
Can share share here - part of personal financial mgt mar selecting a car right?
IMHO, other than homes, cars are the biggest $ outflow - lump sum + maintenance

Me - i'm too close to the motor industry to comment too much , ppl may accuse me of having too much vested interest even when i personally think buying cars every 5 years is nuts

This post has been edited by wongmunkeong: Apr 19 2012, 01:22 PM

I wonder how to foreigners who came to Malasysia for work can still score a chick despite riding only bicycles. If a girl truly loves you, I guess no matter you bicycle or whatever car, they still will follow you. Those wanting your car money etc I suspect are gold digger.

Hm.. MAY not be "gold digger" per se IMHO.
The way i see it, it's about $ecurity, re$ource$ & $upport

In the old cavemen days, cavewomen went after the strongest men, for protection and hunting food - thinking for themselves (women) and their children to be.

Similarly, these days, this may mean $, assets, knowledge, etc. (ie. 5Cs or 8Cs in kiasu-land talk). It's just a "natural" thing just that some women may go overboard, like some men who are only into pink, 36DD-24-36, etc.

Thus, some women who "earns enough or more", tends to be ultra selective or doesn't have the "drive" to find a life partner (fun partner different case lar ). They don't have to worry about "shelf life" like the others who bank on their youth & looks, which will eventually be devastated by time - "saham jatuh" so to speak.

Ladies, please don't voodoo me ar - just ONE OF my perspective, not universal truth.

Agree that main financial commitment for 3 main purchases in our life, i.e. education, car and house (some may think life insurance).

Initially I plan to buy a new car, most probably Myvi will do and thus my budget should be around RM55,000.

However, after thinking twice, I think I just want to avoid the most depreciating period of a car which happens in the 1st few years. So I change my mind to buy a 2nd hand car of which age of 3 to 4.

Then I come to know a lady friend who wants to sell her KIA Pikanto which she bought 2 years ago. Now she is planning to trade it for a Volkswagen Beetle (Don't think she is nuts as she said she is doing sales so need to meet client with a more prestige car, good reason? Anyway, I think she is making good money from her job so this affords her to buy a good car), so I asked her to consider selling her car to me as I know ladies normally take good care of their cars.

However I do not know about the price for 2/3-year KIA Pikanto, not sure if munkeong you have any information since you mentioned you are close to motor industry ?

Once I decided to buy the car, I will pay 20% downpayment and the remaining will be financed by a car loan and I hope to get the longest possible car repayment tenure. As far to what I know, 2nd car loan will not get to the tenure of repayment up to 9-year, most probably the longest will be 5-year.

Well, I have all the Cs and H, but I still don't have gf. So, I don't think having cars will have advantage.

Hi KinWing.
Just as a simple comparison, try this http://www.motortrader.com.my/Cars/Buy/BasicSearch.aspx for prices of models/years
I'll go poke my colleague in Sales for KIA Picanto's asking price - 2 to 3 years old = 2009-2010 registration, right? I'll PM U - else mods may not like us turning this thread / topic to a car price only topic heheh.

BTW, U may want to note that the cost of repairs and maintenance for a 2nd hand "small" car (picanto, myvi, kancil, viva, i10, etc) VS a 2nd hand "compact sedan" (wira, waja, sephia), the cost similar, thus, U may want to think about a "compact sedan" IF U do groceries shopping once in 2 to 3 weeks (bulk purchase) + want a nice back seat
er... my bad ar - i'm assuming U will drive it until it disintegrates, not "upgrading" every 5 years.

That website is great, thanks for your information. Have search on KIA Pikanto and came out three 6 to 7-year Pikanto with a price at RM17,000 to RM18,000. Not sure how much the price for 3-year Pikanto? Thanks mungkeong if you could PM the price .

I have not been driving for 12 years since I bang my daddy's car in an accident. So I do not know what would be the maintainance cost and not even aware there is such difference costs for different sizes of cars.

Yes, I will buy another new car for quite sometimes, not because I do not want to change car frequently but that could be because the car won't wear off so fast as I am not going to drive it frequently. I will still take public transport to work (maybe will drive to work if know that day I will work late). I will only use the car if I am going out to meet friends and there is where my buddies keep assuming I buying cars because I want to meet hot chicks. Aiyo, hot chicks will not want to bother to ride on Pikantos lah, come one .

I choose Alza... New one, I used to own kancil manual (bought new) for almost 8 years and no problems and no trade-in. Consider Vios at first but forgot it as I need to spare my income for another house. I had bad experience with second hand car (wira) emmmppphhh... maybe I just had no time to entertain that car....

yeah....it'll all be settled in 2-3 years, and by then my salary will increase for another 400+-. so 1.5k + 400 more to save...for the time being....quite a tight budget.....

- Loan 1 is RM15k loan take up by my wife from a teacher koperasi. 1.8%pa for 3 years. she use the money to settle down when first get posted. still have left RM10k...only used RM5k, didnt know why she took so much last time, but the balance 10k now i dump into tabung haji also....
- Loan 2 is a RM25k loan i took from my father. No interest at all, hehehe i took the loan to get married, and settle down. used around rm2ok, the balance i dump into tabung haji too......

i'll try to follow your plan, right now no children yet, and we didnt decide whether to have a child now or later after finishing the all the debts.....

right now i do get some additional income by doing some IT sales and services to teachers around my district, which generate around RM1k a month, but not stable, there's a month i only get rm150 due to time constraint. I tried to do tuition but no one interested (im in jeli, kelantan now, quite "ulu" btw )

i am very2 blank with investment. i didnt know where to start and on what to invest to, and how much do i have to have to get started. what i do now is just saving in tabung haji and asb.

about objective....i didnt know...i prefer a stable life but not luxury and really enjoy myself in my carrier now. perhaps my objective for the time being is to buy my own house. is goverment house loan good to take?