Wow, save until cut botak hair. I have to commend you on that one.
Personally, i cut my own hair. But not everyone can do it. I've trained up since young, when staying at boarding school. haha.
Botak doesnt suit everyone, so some young guys (who dont have partner yet) might not take that step. =)

Hi Financial Masters of Lyn,

I need some advice on my non-financical planning..
I've read through lots of the pages here (20+ pages) but not sure what advice best suits my position.

Details;

Age = 25 this year

Savings
1. Bank savings = approx 30k
2. EPF = negligible, Just started working (cant take any money out, and account 2 is very very low)
3. Company stock option, 10% of Basic pay every month. (Just started, minimal amount, not very liquid.)
4. Old car (22years old), No house

Income

1. Salary = 6150 (Take home pay, After EPF & Tax, & This is an average value taken over the last 5 months)
2. Wish i could write something here..

Monthly Expenses

1. Food = RM 350
2. Study Loan (0% interest) = RM 550 (18 months remaining)
3. Car repairs = RM 100
4. Car service & Fuel = RM 150
5. Entertainment spending = RM 350
6. Rental = RM 420 (non-negotiable/ not changeable)
7. No Phone expenses, No personal insurance.

Total Spending = RM 1920

Net = Income - Spending = +RM4230

Looking for some advice:

1. I dont have any passive income, and would like to start a good sustainable investment. Because of the nature of my work, my "free time" is limited, although i do have internet access most of the time. I have read about Forex, but havent practiced any mock-trials yet, so unsure if i can actually make any money off it. It seems to require alot of time investment as well.

Property wise - The property prices in KL are crazy high, and i am unsure whether i should bank in all my savings to get a house now.
I often read about property in Klang valley, and new developments, but all the prices seem out of reach. Seems i cant afford anything over RM 400psf. and nothing under RM400psf i like.
You may say im too young to start buying a house, but if i dont buy now, (trend wise) seems like i will never be able to afford a house in KL.
Personally, I will not settle for a 500sf shoebox.

2. My salary depends highly on allowances, so it can go up and down. the value above is just an average. I expect my average to drop to about RM 5000 for the 12 months. (Dropping my Net income to +RM3080/mth)


3. I dont have the time to monitor stocks, and probably dont have the 'drive' to monitor them.

So any tips or ideas?
I dont have a solid financial plan at the moment, and it doesnt seem too bad for me, as my expenses are not that high.

Thanks in Advance!

This post has been edited by win44: Jun 7 2013, 04:34 PM

hey Everyone!

Just looking for public opinion on two questions;

Im not from economics/finance background so i may be wrong, but
I feel quite insecure with the current inflated property price, and feel that a big bubble burst may occur.
In such an event, such as recession, i assume holding one currency (MYR) might not be a good idea. (if malaysia economy crashes)

1. Should i spread out my savings into a couple currencies? (USD, SGD, chinaRMB)?

2. If yes, how should i do it.. forex?

or 3. i have it all wrong. Currency is more valuable in a reccession

Thanks all!
P.S. apologies if it sounds like stupid questions

This post has been edited by win44: Jun 18 2013, 08:18 AM