If I were you, I would max out ASB of 200k first before buying any depreciating assets. If max out already, proceed to max out your EPF via voluntary contribution up to 60k per year.

12 months worth of savings on hand too, this money put in eFD where u can easily retrieve your money, put it in chunks of 5k or 10k.

Since your interest rate is only 3.8%, you are getting very cheap funds to invest in ASB.

After done all that, only consider buying that superbike.

Don't buy the bike if not necessary, just borrow enough to consolidate the outstanding will be better

If you have been paying interest for so long, do you still want to pay more interest or you could invest / retire earlier

Btw, 3.8% really nice, however the amount is too high

This is better advice exclude the superbike

Instead of superbike, why not just plan annually travel? This will make your family enjoy together and you do not need to spend extra on interest and maintenance

ya quite rightly so, but maybe TS is thinking, why make so much money but don't spend it on things that you love.

I agree that superbike is not a good buy, because i personally don't use it, but i will spend on somethings that I desire after reaching my financial independence, provided i am able to afford it.

Hi all, I was wondering how long should I keep my investment other than ASB?

For example, if I'm currently saving into ASB and investing in mutual funds or ETF; how long should I keep investing? Say one day I max out on my ASB limit, than I can channel the extra cash into investment right?
But how long should I keep investing? Till I reach a certain amount (e.g. RM50k) or a certain return (e.g. 15% total return)?

I'm curious because when you save or invest you do plan to use the money either for fun/leisure or to purchase assets. If that's the case, than would your investment duration be determined by the target amount?

for asnb, if you are a bumi, there is another 5 more fixed price fund that you can subscribe, asb2, asb3, asm1, asm2,asm3.
there is also AHB, TH... (haha)... etc.

Isn't his question more about "when have I invested enough and can spend" rather than mechanics of spending.

Personal decision la that one. Not really a financial management thing. Definitely money must (eventually) be spent though, just how much 'reserve' you feel is necessary for peace of mind (which in my opinion is worth more than fancy gadget or holiday or luxuries).

hm.. U seem to be talking about "saving to spend", ie. plant a tree to chop it down for firewood, killing the tree
not "saving to invest"-->generate $ for reinvesting OR usage, ie. plant a tree to eat its fruits WITHOUT killing the tree.

thus, only U can answer your own Q as most of us have no idea what U are saving to spend on.

to most "investors", we invest to GENERATE multiple streams of income - ie. we plant trees and more trees, to enjoy the fruits later - without chopping down the trees... unless tree infection, fungus or we want different fruits

on this...."how long should I keep my investment...?"
what is the purpose of you saving and investing?
set the purpose or goal of your saving & investment and plan how to reach it.

having a purpose and goal of your investment would have eliminated your query.

have smaller and shorter duration goals for the "enjoyment" of god given results for previous life's karma
have bigger and longer duration goals for the "enjoyment" of god given current life's karma at retirement age.
some people would plan goals that would enable them to be financial independent and retire early so that they could "escape" from this rat race.
some people would plan goals that would enable them to be able to travel holidays few times a year.
some people would plan goals that would enable them to be continuosly satisfied for having goals met.

so what is your purpose of saving & investing?

On this....."would your investment duration be determined by the target amount?"
I think think, it would be....
target amount are determined in part of the initial investment amount + number of subsequent reinvestment (if any) + the amount reinvested during those subsequent reinvestment + the duration of those investment + the ROI from those investment + your capability to sustain those investment without the need to touch it + the world's financial and geopolitical situation during investment periods and at time withdrawal when reached the goal + your availabililty to have some sort of plan to protect your accumulated money during saving & investment period.

Thank you evry1 for the advice. Will plan accordingly. Nw got clear direction on how to Manage my money efficiently and after few days of thinking the bike part buried ad. Yea i cant get what i want but at least i Wont make same mistake like i did few years back. 😁

Hi, which insurance (life, medical card, PA etc.) is suitable for 21 year old?
Currently paying RM200 for GE iDamai, is it too much? I saw AXA Affin have for less than 100 per month

Please state your coverage, else it is difficult to determine.

Wish I could say, parents got on behalf of me when I was 17. Maybe similar to this https://www.greateasterntakaful.com/en/taka...reat-damai.html

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This post has been edited by Gatsby IT: Aug 5 2019, 02:39 PM

Hi all sifus here , I'm in abit of dilemma , hope someone can give some helpful insight .

Let's say , I have normal saving of RM100k , what should I do with the money ?
Was thinking to just resort to FD , but then there's so many rate , so far found Bank rakyat rate to be the highest (4.1%) but no PIDM .

If anyone have any other suggestions what to do with the money please let me know . Don't mind considering fund/gold investment as well .

because of this....
then have to consider....

1) how long do you need before you need to touch that money?
2) how much % of losses do you think you can take before you take action to shift that money out?
3) if you can consider these fund/gold investment ......why consider whether FD has PIDM or NOT?

btw, this is the exactly the same post as posted by "Gatsby IT" (before he deleted it)

Hi thanks for replying .
I'm thinking what's the best rate of FD for now I saw some with 3-6 months tenure 5% .
If someone can educate more on bond or low risk investment would be great .

try moneysense Singapore
An introduction to types of investment​s
https://www.moneysense.gov.sg/articles/2018...-of-investments

bond funds is a relatively safe mostly 4-5% returns invested in fixed income debt securities suitable for risk averse investor. Also lower managements fees and sales charges.

MUM has replied you well. For anyone to advise you on what to do with your money, dont u think u r in a better position to decide?

Because we don't have a full pic of your position, we can only throw u questions for you to ponder, think and decide:

1) does this money serve as emergency funding or it's money that u have as spare? I.e. how long / time u can afford not to touch this money?
A) if let say u r gonna make a downpayment for house purchase that costs u rm80k next year , then do u think u will want to invest this money and subject to the market ups and downs? Esp the market is very volatile these days
B) do u have enough emergency money for at least 6 mths of your expenses?

2) if your answer to no.1 is that yes, this is spare money that u can afford to take risk, then whether u have a plan of how much into different types of assets / investments?
A) How do u determine the allocation to each investment without a plan?
B) What is your risk tolerance? Can u take low / medium /high risk and which investments suits u?
C) what is your target return? Double digit? 8%? 5%?

After q2, there are several more questions but I shall stop here. This is to illustrate that if u r serious about your money, u will do some serious step instead of leaving to the forumers to give u idea / advice . How do u decide whether the advice suits you / is correct / harm you?