what ever and when ever people wanted something...they will usually have a lot of reasons.
what ever and when ever people does not want something...they will usually have a lot of excuses....

it is your decisions then....

your money, your lifestyles, your life's journey.....be it good or bad.....nothing right or wrong....

share margin financing and property mortgages?

just a note....the monthly maintenance fees of the condo would be appr RMxxx ?

there are other things to consider too...
like renovation cost.....
do you have fund for that?
est....RM80k??

do you have emergency fund saved?

if i were you , i would continue to rent and save enough before venturing into property....even though many units had been completed....for they are the problems of the developers and the broking agents not ours.

the properties can wait for a few more years.....looking at the unsold units available and the new launching frequently.....they can still be plenty of supplies for the near future.

wow that is great

plan to do saving to enhance your EPF saving to prepare for a more comfortable retirement.....

that is why, many said MUST set up & have emergency fund first

may I suggest that you start to build up an emergency fund consisted of about 6 months of required monthly expenses.

then once your 1st level of financial stage are built, then try buy some personal accident insurance if you travel by bikes to work or high risks exposed employment, else priority would be buy some medical insurance (term type) to prevent oneself from relying of others financially incase of medical hospitalisation.

in the meantime while doing /planning that, read more about investment to try to gauge where/which you will feel more "comfortable" to start....

btw, this new thread has some info provided by othere forummers...

Anyone kena burnt in investment?, Experience and your lesson learnt (Investment)
https://forum.lowyat.net/topic/4774851

thus on this "I've been thinking of growing my savings as I feel like the money should be invested somewhere else instead of sitting in my account, however I do not have a single clue where to start. Any advice?"

growing your saving by putting money in FD is also growing

maybank cc 600 (fuel) outstanding 9k
uob cc 300 (fuel) outstanding 4k wife
total is 13k
fon bills 400 me n wife

coop loan 230 5% 9 years left
mbsb loan 450 3.99% 9 years left
total is 230+450=680 x 12 x 9 yrs = 73,440

total outstanding is 13k + 73k = 86k (early settlement maybe lesser amount)

why do you want 120K?

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.

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)

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

about 300K pa of fresh fund.

yes, normally people would advise you to extend the loan duration and use the extra money to do other investment as the h/l interest rate is considerably low.
but is it worth to settle the loan in 9.5 yrs in your point of view?
YES, only you know your self better and just do what ever pleased you more and make have a better peace of mind....

btw, you can consider full flexi package....whereby the duration is example 25 yrs, but if you have extra money you can dump more into it to settle it faster, but you can also have the option to take out the extra money for other uses when the time comes too.

full flexi got more flexibility than conventional.....

https://www.iproperty.com.my/guides/compari...exi-home-loans/
https://www.imoney.my/articles/understanding-home-loan
https://www.propertyguru.com.my/property-gu...difference-3529


This post has been edited by MUM: Oct 2 2019, 02:11 AM

excluding your wife part of RM 2k......
with your current pay and expenses....
you only have RM 614 balance....
by end of the year you will have RM 614 + RM 800 (after dispose house) = RM 1400 balance....
try use that RM 30k bonus in March for emergency back up fund.
try NOT to get into another debt like car loan unless your current car incur frequent serious repairs cost and downtime.

since you can managed and had been managing to live with RM614 balance cashflow, and since it will go up by another RM 800.....
I think your cashflow problem would we ok

since your will have RM30k as emergency fund, put that RM100k in to ASB to help grow your asset at abt 6% pa
as (unknown to the year balance of car loan duration), most interest amount had already been charged and added into your repayment,....thus not much "untung" if you were to repay them in full now
in the meantime,....have you and your wife take up SSPN for your kid?....got tax relief for both you and yr wife

This post has been edited by MUM: Oct 4 2019, 05:47 PM

Should I try to pay off my current house?
most would suggest not paying the loan as the rate is low....unless you cannot get anywhere to place your money that can beat that rate.

Or car loan?
Usually they would advise not paying the car loan earlier as the interest had already been charged and added into your loan repayment, thus the saving from earlier redemption would be limited

Or should I dump a lot on new house downpayment?
Only unless you cannot get anywhere to place your money that can beat that housing loan rate

this OCBC Max yield, you put in RM6000 pa...how much is the average returns pa after the completion of "saving" plan?

good start, manage to have 30% put aside for money generation.....but unknown to that max yield pa from this max yield plan, thus unable to tell if this is a good money generating plan

on the initial yr, you put in RM6k pa....you get back RM300 pa at the end of the 1st yr,
it is about 5% after the 1yr

on the 2nd yr...you would have placed RM12k, you will still get back RM300...that is 2.5% at end of the 2nd yr
on the 3rd yr....you would have placed RM18k, you will still get back RM300...that is 1.66% at end of the 3rd yr
on the 4th yr....you would have placed RM24k, you will still get back RM300...that is 1.25% at end of the 4th yr
on the 5th yr....you would have placed RM30k, you will still get back RM300..that is 1% at the end of the 5th yr
on the 6th yr.....
so on so on...

if want to consider it as insurance,....then there should be better insurance plan option rather that for this insurance cum saving plan?
which could make better or more efficient use of that money?


found this "old" thread of "better" returns insurance plan
".....if you save RM10,000 every year, there is a guaranteed yearly income of RM2020 and cash dividend of RM 202 each year."
that is 22%
https://forum.lowyat.net/topic/2778479/all

This post has been edited by MUM: Oct 31 2019, 09:45 PM

I noted the words....."% of Basic Annualised Premium"...
thus if your annualised payment is RM6k, they will gives you 5% of it, thus it is RM300 each year.

after 6 yrs, you had paid RM30k, they will pay you 13% of that RM6k (annualised premium amount) = RM780
RM780 of RM 30k = 2.6%pa

well that is my interpretation....I wish you well....

I think my interpretation is correct bcos it was based on the printed words ....
go ask and confirm with your agent?
and tell us?

I am on a more cautious side, thus I think you still need an insurance plan to mitigates your risk.
does OCBC 360 has that?