Wondering if this thread still active.
BackgroundComing into age 30 and planning to get married in 2017.
I foresee my income will decrease 20% (incentive base) this year given the market slow down.
Very low risk appetite with almost 0 financial knowledge.
Monthly Income and SpendingSalary: RM22,000
Rental Income: RM1,100
You're in the high income category, even with the estimated 20% decrease in salary. It's time to increase your passive income, I suggest you do this based on the investments you're comfortable with and most knowledgeable in.Saving: RM9,000 - RM10,000
Parent, Siblings: RM3,500
Food, Entertainment, Shopping: RM4,000
Car Related (Fuel, Parking, Maintenance): RM1,200
Phone, Streamyx: RM150
Medical Card: RM250
Life Insurance: RM750
PTPTN: RM300
You're savings almost 50% every month and that's fantastic, not many people are able to do that, keep it up. I don't see any problems with your other expenses as well, considering you salary, your entertainment expenses of RM4K a month is fine. I'd suggest you take advantage of the discounts PTPTN are giving and pay off your loan.House Loan 1: RM3,000 installment (own stay)
House Loan 2: RM1,100 installment (rented to couple)
Car: fully paid. 2nd hand national car
Credit Card / Personal Loan: no outstanding
No problems here either, just consider settling your own home loan asap.SavingsRM130,000 cash placed in House Loan 2 (flexi loan).
RM100,000 FD
I did a quick calculation and came to a net savings of around RM7K after taking into account your installments. (which isn't bad)
I'd consider your RM230K as your emergency funds and they are sufficient.
This leaves your investment in your 2nd property, which is netting you ZERO. You've not even taken into account the maintenance fees, taxes and misc. costs. Not sure what the value is now if you sold it off though.For 2016, I am considering to (but I am worry about $$$ for future wedding, family, kid)
i. Place 10,000 investment in stock market - high dividend stocks
ii. Invest 1 additional sub-sales property < 300,000. Required deposits and miscellaneous of 100,000
If you're into stocks, consider reading up on it. After that, with your savings, I'd suggest you do a monthly investment from RM2K to RM5K. Not sure what industry you're working in, but leverage on your expertise if you can.
Any recommendations or suggestions from sifus?