It is still part of his accumulated savings account, no harm in that. You can't say that because this is my angpau money, I cant consider them as a part of my capital that I use for investment.

I guess the savings habit from small does pay off, more towards a very good discipline in saving rather than the amount saved.

haha over the years ma.
btw my parents invested in this Hong Leong gem/precious metal fund.
RM10k back then, they return to us RM8K+ today. Im so f***in pissed

How long is the investment?

more than 10 years.. speechless

me too 7 year at OSK-UOB AREF.

I have suggestion create a topic to list those fund that have bad record ?

huh.. that is bad!

Is it a close ended fund?

What kind of investment you do?

not too sure

shares mostly, a little bit in unit trust.

I think part of the earnings has become their annual management charge. Which after 10 years, will be a huge amount.

This post has been edited by Kinggnik87: Apr 30 2014, 11:03 AM

i pay for management but i don't get any management..
bottom line is.. how the hell can they lose money on a 10 year+ investment

u need to see this

noted

Guys, I just get a new Debt last few weeks - Myvi

My current working monthly payment around RM2.4k per month, plus allowance RM1.6k (since is partner company, so i cant simply take money), so normally i would take up around RM4k nett

Here is my current Budget list

1. House loan share with sister - RM500
2. Utilities(H/p,Unifi, Electrical, Water, Maintenance) - RM550
3. Food ( 99% eat outside) - RM600
4. Entertainment (smoking, Movie, Shopping, Drink, Party) (Tried hard to quit smoking, mostly over budget on this) - RM300
5. Car loan (myvi) - RM550
7. Car petrol - 300
8. [Financial] kampung 会钱 (kind of gathering of kampung ppl money, who need money, who tender it, some ppl might know how it work here) - RM500
9. [Financial] Share - Very depends on how much left, my budget is RM500, but mostly, less than 100 cuz spend over on Entertainment
10. Parents - RM200

For some reason, i am taking around RM4k from company monthly, so let assuming i am not taking more in this 2 years...

is that a better way to reduce my expenses so that i can save more on my share portfolio

here is some reason i choose share, becuz fix deposit offer too low %, mutual fund is not under my control(either need in cash or the invest %)

i have no idea on all of this already, maybe just a share what KL single people expenses....
to survive, i can do that
to live lively~ i dont think so

How old are you?

I don't see you have any saving. Your 500 of buying share is not fixed which need to depends on your spending for entertainment. Well, please take note that buying share is investment which is different from Saving.

I heard somewhere that "spend what is left and not save what is left".

Hi,

A good day, I bet it the time to review my finance. hope you may assist based on your past experience,

Age : 23 year old

Income: Not fixed, sometime payout up to RM8,000 and sometime RM3,500 below.

Fixed Deposit: RM50,000
Physical Silver: 570 grams
Paper Silver : 600 grams
EPF : RM16,000
Property: RM535,000 (loan approved amount RM480,870) / Under Construction, flexi-loan

Car Loan : RM41,310 left ( installment RM459)
Credit Card : Zero, full paymaster and never late, limit up to RM26,000. Only installment credit card with maximum 12 month tenure as effective interest rate is higher, installment credit card amount RM750 per months.
Mortgage: RM2300

My mortgage not for own stay but for investment purpose, current rental price around PSF RM2.00 in that area.

I do not use my cash reserved as it only for emergency and once we utilize, it's no points to have a reserved funds.

The reason I go for full paymaster is to avoid any compounding interest and I need to increase my bureau score as I will go for more investment in future, as my real life mentor teach me on how to get rich.

Any advise?

This post has been edited by adolph: Jun 18 2014, 01:50 PM

adolph,

There is no single fixed formula or guide to gauge how well you are doing financially. The best advice, no matter how much you are earning, is never, never living beyond your means.

Do not be confused between the 2 types of 'investment', business investment and personal investment.

Taking loans for the former is fine; for business objectives such as cash flow and stock turnover, expansion of operation (purchasing tools and machinery) and expansion of business (new factory/outlet), etc. etc.

Taking on loans for the personal usage or 'investment', whether it is car loan or housing loan, is pure personal debt.

No matter how you slice and dice these 'investments' and how profitable they are, there are interests to be paid and the loan principal to be repaid. Until all loans are settle, you are indebted to someone.

As Personal Financial is more towards Wealth Management rather than Wealth Creation, one could do just as well with saving accounts and fixed deposits versus another who dabble in equities, properties, and commodities.

Personally and IMHO, 'investment' in personal finance means a way to cover inflation that is constantly eroding our savings. In this light, I'm more biased towards mutual funds. There are pros and cons on it versus other 'investing' instrument like property, gold and silver... and could easily be pages and pages if expanded on...

Cheers... and always be prudence on financial/money matters.

Not bad! 23year old have rm50k FD. I would dump this Rm50k to pay the housing loan. Reason being at the early stage of housing loan basically you are serving the interest portion only. That's how the bank making billions every year. I only buy my house using cash basis. Not letting the bank makes money out of me.

I beg to differ.

Inflation must be personal, and be detached from whatever figure the authority or your friends/family etc said. It will be different to each person.

Say you spent 50k in 2012, then spend 75k in 2013, so your inflation rate in 2013 vs 2012 is 50%! The whole concept of inflation is that it ALWAYS must be compared to past expenditure. Who cares if you made exceptional/special purchases, your money out increased, plain and simple. The whole intention of "beating inflation" is to make more money than you spend. And if you spend more than 50% compared to previous year, then make more money than that! Who cares if kangkung increase 1000% or government said it's 3.5% inflation rate?

No one can give you your inflation rate but you.

Reduce expense : Half right => There is a limit how you can save (ie you don't spend a sen); there is NO limit to increase income. Focus on the latter, you have more space to play.

That what is not inflation la bro.

Please reread what you have just typed. You are saying expenditure increase 50%. Cos from 2012 to 2013 for sure you bought MORE items. If its exactly the same items in same amount, yes inflation would have been 50%.