HI, you are right. Bank interest is so low. You can consider investing in unit trust. I could guide you in detail. If interested please email me at nitznit@yahoo.com. FYI, i have made some amount of money by investing in unit trust.

Hmmm... My father got those US ppl thinking.. A son need to be independant after 18 yrs old. Thus when go U or College, tuition fees get PTPTN loan, father support a bit on the monthly expenses..Still need to work part time when studying...at my time not so easy get into govt job like teacher..

i got 2 younger brother..they are teachers.. TTC.. Eveything free, monthly govt got give expenses somemore , place to stay and makan/minum govt jaga too.. tuition fees free..Golden bowl of rice, work till retire got pension everything take care liao..

I think my dad kiamsap a bit...his money is his money..my money is my money....That is why I mention if I borrow RM50K from him need to give him back 5% interest higher than FD and how long I can return the loan. He agrees if short term less than 5 yrs lo..2-3 yrs the best.

My dad tell us he is not going to send us oversea for education coz if he send sons oversea, ended the son no return to Malaysia ...He lost a son already..what to do typical chinese thinking..

He believes since he is the first generation who works very hard to become rich, thus we the 2nd generation should work harder...My dad lost his parents since very young, sleep below staircase, poverty state, etc

my dad is just a certificate holder, me diploma holder, my brothers degree holder....we being 2nd generation should be thankful life gets better got a home to stay till 18yrs old..

our children the 3rd generation perhaps will get better life, maybe we can support them to be doctors or lawyers..

This is a very dangerous investment.. That is why my dad choose not depends on us to be filial..He is like buying insurance. He too being independant..

Need to change tradition thinking of kids burden parents, no savings, kids have to rely on grandkids..

Maybe it is good the child follow Malaysia education system, go Form Six then go local U, get a ptptn loan then come out work..


I got post somewhere this..

Easy example is

I save RM2k per month now, spend expenses RM800 per month. I able to survive. Good.

If I now spend RM2K per month and save RM800, now RM2K just enough for my spending, do you think RM800 in 30yrs later is enough for me to spend monthly? I may not be able to survive with RM800 per month by then so need to depends on children to being filial give me some $ to survive?

I am like buying insurance for myself to retire without need of children to be filial. What if they being filial can afford to give you RM500 when single. After marriage have children too, maybe they can afford to pay u RM200 only. With the RM800 + RM 200 per month, can you still survive?

Now 2013 minimum wage in RM900. I don't think RM1K per month 30yrs later can survive.


If u think u are like the one in the picture...RM3K+ per month also not enough..how to do personal financial management?

This post has been edited by AAAABBBB: Apr 14 2013, 10:57 PM


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Can you elaborate overspending on kids? What I saw now : Parents give everything to kids>kids prefer support wives and their families>kids no support parents>continous cycle

I can only say padan muka.

I fully agree and support what AAAABBBB's dad did, only provide for his kids' NEEDS until high school, then leave them to support themselves. In the same manner, don't rely on kids to support.

Wow more than 10 is a lot. Your dad worked as a technician as well? Because 10 would be around 5 million in investments or more altogether since the loan has been settled.

Which fund house you from ? Share your investment plan how your UT better than FD?
Can share.

then what is the difference you support your parents through money giving each month with you settle PTPN loan?
Imagine you study for medical degree, how long will you settle the PTPN Loan?

10 properties in Ipoh not good yield. My father also has 10 properties in ulu, the net worth only about RM 1million.

serious? is that possible? so each residence only comes to 100 000 net worth?

cause i know in penang even super small apartments it's like 250 000 each, and that is very very small-2 bedroom,1 bathroom. the lowest i have heard on the market is 150 000 and that is way out in the boondocks away from civilisation where you have to drive 1 hour to see a mart. so it's hard to imagine a 100 000 apartment.

i bought one apartment for 350 000 (3 bedroom,1 bathroom, 2 toilets) and now it's worth 800 000 after 2 years and even that is just a medium sized one but it went up because of mall developments around the area and restaurants.

This post has been edited by Beachkid: Apr 15 2013, 01:54 PM

I hope u were wrong in ur predictions imagine how much needed to eat a plate of mix rice if 1 mil per child.....to raise.... At the meantime vote wisely and determine our future without blood sucker...... Mosquitoes.......

Babe to degree tutition fee..then maybe downpayment for house and condo...that another 20 year later.

Im not a father yet - anyone can calculate how much to raise a child from baby until finish degree.

This post has been edited by felixmask: Apr 15 2013, 03:20 PM

Nope my dad sell soyacincau hawker..Make he is like Ah Kau selling newspaper..diversify his business and make it lo...

I also scratch head till bald thinking how my dad a hawker can make it..He the other day offer me RM3K salary help him sell soyacincau in a van, work 6 days a week, 10 hours a day..

Hmm....not bad too consider new graduate 3 yrs experience also earn RM1.7K...almost double oledi the salary

I settle my PTPTN loan 2 years after I complete my diploma..Little money borrow..Why take the trouble need to monthly repayment and the interest high lo..

my dad friend a foreman - his son study medical....his father don;t encourage son study one- he did not even pay a single sen for his son study, yet his son is brilliant enough to get a scholoarship in UM. Pack wih a backpack he enter UM sleep the night at the bus stand outside enroll the next day. After done is medical degree at UM, he got an offer to be surgeon go Ireland further studies with bonding to Malaysia govt. He finish his studies in Ireland no come back malaysia and pay back govt for breaking the bond....he did sent back money to his father a foreman and ask him retire..

that is why my dad see this,,he knows cannot send son go oversea....lost a son after tat...


my dad don;t invest all in Ipoh ..Got investment in Penang, Ipoh, KL, Johor....From North to south...oledi mention ma he bought a condo in KL last year end around RM500K..

He got oil palm estate too...bought when cheap that time..

RM100k possible when wan ton mee is RM1 a bowl..My dad bought a shop at Bercham Ipoh main road at that time at that price...I think it is very long time ago la...Now a bowl wan ton mee in Ipoh cost RM3 min. small one maybe RM2.50

i bought apartment penang for RM230k in 2008, now worth 500k ...Not bad..

you should expand your father soya cincau franchises biz in mall. rther become technician

Wow so hawker and he can buy so much land. He must be really frugal and have a high savings plan. That is pretty impressive. I know most hawkers personally who do not own even one property, just paying rent. But like I was saying, as you said invest in Penang and Kl, that alone if 10 properties would hit the 5 million mark..so that is crazy how a hawker can gain 5 million even in a lifetime. Unless he bought it in the 70s I guess.

Yes Penang so far is the best for property investment, more so than Kl. My dad's home he bought in the late 90s for 700 000 is now worth 2.8 mill already due to development of surrounding areas..predicted to go up in 3 more years.

This post has been edited by Beachkid: Apr 15 2013, 07:57 PM

AAAABBBB,

Please allow me to add on to clarify your way to make investment and reduce liabilities. So basically, you make a plan for $2,000 saving a months at least, put in secure fund which can let you earn more interest possibility at higher rates. once you had accumulated an amounts, you withdrawal it and buy asset that can let you earn more cash flow, or known as asset classes such as property and land. The question is, while in your world working harder every day, what do you think each day, all the time thinking to get more money? sorry, it a little bit about your physiology, behavior analysis.

This post has been edited by adolph: Apr 15 2013, 08:09 PM

nah he is not soya cincau king la..he just start his first job selling soyacincau only...He changed a lot of job la..

When I started work in Penang, I rent a room. The owner is a hokkien mee seller in Penang. When I go pay electricity bill, the TNB guy check and let me know my owner own more than 20 properties... lagi crazy how can a hawker gain so many properties in a lifetime

To be a better person than my father.

1. Design an ideal life. Set goals, quit complaining, take a break, live every day as a fresh new start.

2. Do the things I love. Wake up every morning drink a glass of warm water. Clear the mind set an objective to achieve something that day.
(Passionate plus love in work, dedicated to achieve something great every day - I am rank exceed expectation for the past 4-5 years by 2 bosses I report to. Increment $ , % higher than other successful colleague.) I convert my hobby fishing to generate some extra part time $.

3. Improve the world. Help other people who are in need. Do a kind deed a day.
Example.
I go morning walk sometimes before going to work. When I see rubbish on the floor or roadside I will pick them up, placed them all in a bag and throw them all in a dustbin nearby later. Ppl may laugh at me first seeing my strange behavior. I just doing my little small part in making the garden I live to be cleaner place. This is where I live, I breathe in the clean air, I get to know neighbours, chit-chat , by a small action of picking up rubbish if can set an example to others to follow, it will be a better, cleaner community to stay in. The small laugh at first will bring ppl to shock but will leave a strong thought in their mind. Eventually when I walk with neighbours, they saw I picking up rubbish everytime I saw one on the floor, they follow too. Concious mindset that we need to practise the same standard in better environment. Same I will clean the drain of the same row of house to make sure water is flowing by clearing the rubbish or tree leaves, so no smelly stinky smell or breeding place for mosquito.

Do a kind deed a day. Raining heavily. Stuck in the shop in the garden. Saw an old ppl looking at the rain, worried, maybe lost. I will approach old ppl, have a chat with him/her to clam them and enjoy some precious time while waiting rain to stop. When the rain is a bit small, I do offer them a ride home. I go take an umbrella from the car, fetch the old ppl home. Sometime the old ppl do not live in the same garden, but nevermind since can help ppl I send him/her home.

Doing charity is not for return but the good deeds done make me a bit happier in life.

I like help others live their best lives. There is no better way to grow than to help others grow. Ultimately, the world is one. We are all in this together.

That is why I share here in personal financial management with the fresh graduate a plan that works for me by doing some savings able to buy a hse and car cash..Live life without liabilities ...

Some forumers say being filial is to support parents every month giving them money..

Then got some question me back I not being filial not giving them money....

Hmmm...

If u see I got a plan to retire early.

1st priority
My parents quite old senior citizen already travel around the world before kick bucket. Being fillial I accompany them once or twice a year for holiday. Be bell boy help carry laguage etc. I apply long leave 10 days and sometimes more to go with them.

2nd priority
Whenever got time, I bring them out eating, jln-jln, pray, etc.

3rd
I pray God let my parents in good health for more years...Coz I not yet save enough $ to retire to look after them
If my parents cannot walk or sick that needs send to hospital or clinic frequent for treatment, I will just quit my job go back hometown and look after them. I will not hire a maid to look after them or send them to old floks home. That is why I pray hard that they can live longer

Today my mom being fillal already taking care of her father,mother and one retarded brother ( my grandfather, grandmother and uncle) by looking after them, send them frequent to hospital for treatment. There are 7 sisters and brothers in my mom family but my mom take responsible since she is a housewife can spare some of her time and energy. It is never a simple task.

Being eldest in the family, I forsee it is my duty to look after my parents and not a burden to do so. Thus financial management planning at an early stage is a must for me. I am lucky enough to discover the plan early when I come out to work. Without guidance I will be the in same condition as majority ended up with smart phone, smart data plan, lots of credit card to pay, car loan and even hse loan thus my dream being fillial cannot be fulfill.

Life is hard ppl complain hand stop mouth also stop. I quit complaining, and try to do my very best to change my life.

This post has been edited by AAAABBBB: Apr 16 2013, 12:38 AM

should marry by being fillial

Quite a number of hawker earn more than white collar, the problem on them is the addiction of gambling
When off-day, you will see them visit Uncle Lim, end up all of them have to work for living