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 Personal Financial Management V3, It's all about managing your $$$

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ckdenion
post May 8 2020, 10:47 AM

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QUOTE(MalaysianFire @ May 7 2020, 12:23 PM)
» Click to show Spoiler - click again to hide... «
hi MalaysianFire, EPF asset is useful to be included in planning to know roughly how your retirement fund will look like so when you plan on growing your wealth, you know how much to allocate for retirement while you allocate for other financial goals in life.
MalaysianFire
post May 9 2020, 06:18 PM

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QUOTE(yklooi @ May 7 2020, 12:32 PM)
if this earning to saving ratio can be sustained for 20 yrs....then very good....
allocate some % for networking expenses (not only with the usual guys but more to the NEW network...
*
I think it's quite hard no once you reach at an elder age ? Need to buy house, car etc. That will rack up more commitments and thus the savings will be depleted ?

I do go out to drink to network but that is only maybe every Friday after work.
MalaysianFire
post May 9 2020, 06:21 PM

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QUOTE(honsiong @ May 7 2020, 12:35 PM)
You save quite a lot for that income. I consider superannuities like EPF & PRS as assets, its just something you cant touch in short term.

Good on you not having a car I guess, cars arent just loan, petrol, also got maintenance, insurance, and repairs after accidents. It would be a huge money sink even if you own an Axia.

I would diversify the investments out from MYR denominated assets.
*
I am just about to embark on buying some Malaysian stocks as now might be a good time to enter the market. Although diversifying some out of MYR assets would be good as well, would you happen to know any platforms that I can get foreign stocks or ETFs through here in Malaysia ?

Thanks for the tip on the car, I am a person that prefers liquidity instead of something that is fixed and I have a commitment towards it.
MalaysianFire
post May 9 2020, 06:26 PM

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QUOTE(xcxa23 @ May 7 2020, 01:14 PM)
Assuming you don't have emergency cash
Set aside 6 month worth of monthly expenses in the high yield savings, as long as it's easy reachable.

The rest, invest it. If you yet to familiarise with investment, read and learn. Meanwhile I suggest the extra cash/saving/salary leftover either
1. Push around 50% to 80% of your cash (depending on how much cash on hand you need).

Or

2. FD, 1 or 3 month terms. Longer if you require more time to learn about investment.
*
The 21k I listed that of my cash on hand is listed there, the 6 months emergency cash is already part of it and it's easily accessible when I need it. The high yield savings account is paying decent, a bit higher than FD.

Hahaha, OPR just cut. The FD rate now is so low. Ready to take on some risk to see some growth, guess now is a good time since younger can tolerate more risk ..
hksgmy
post May 9 2020, 10:12 PM

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QUOTE(MalaysianFire @ May 9 2020, 06:26 PM)
The 21k I listed that of my cash on hand is listed there, the 6 months emergency cash is already part of it and it's easily accessible when I need it. The high yield savings account is paying decent, a bit higher than FD.

Hahaha, OPR just cut. The FD rate now is so low. Ready to take on some risk to see some growth, guess now is a good time since younger can tolerate more risk ..
*
Well done on your plans!
brokenbomb
post May 9 2020, 10:21 PM

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QUOTE(MalaysianFire @ May 9 2020, 06:26 PM)
The 21k I listed that of my cash on hand is listed there, the 6 months emergency cash is already part of it and it's easily accessible when I need it. The high yield savings account is paying decent, a bit higher than FD.

Hahaha, OPR just cut. The FD rate now is so low. Ready to take on some risk to see some growth, guess now is a good time since younger can tolerate more risk ..
*
I know I memang kena flame for this but ya, my emergency cash are almost 90% in unit trust.

Yes drawdowns due occur but I just have to ride this through until next year.

But selagi still ok, continue doing RSP ja
encikbuta
post May 10 2020, 06:40 AM

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QUOTE(brokenbomb @ May 9 2020, 10:21 PM)
I know I memang kena flame for this but ya, my emergency cash are almost 90% in unit trust.

Yes drawdowns due occur but I just have to ride this through until next year.

But selagi still ok, continue doing RSP ja
*
haha, i think i saw someone in this forum asking about maybe putting his/her emergency fund into bond funds. some responded that it may not be a very good idea coz bonds still not liquid and safe enuf to park their emergency funds.

i currently have my emergency funds in a liquid money market. maybe not such a bad idea to put them into a bond fund. hmm.gif
xcxa23
post May 10 2020, 08:45 AM

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QUOTE(MalaysianFire @ May 9 2020, 06:26 PM)
The 21k I listed that of my cash on hand is listed there, the 6 months emergency cash is already part of it and it's easily accessible when I need it. The high yield savings account is paying decent, a bit higher than FD.

Hahaha, OPR just cut. The FD rate now is so low. Ready to take on some risk to see some growth, guess now is a good time since younger can tolerate more risk ..
*
Good!! Many underestimated the importance of emergency cash.
What's your planning with the extra cash?

And I'm interested with higher than FD. May I know which bank and how much is the rate?
Currently I'm parking my emergency cash in rhb bonus saver, as of now still giving 2.65%
Calculate daily, credit monthly.
Best of all, no requirement.
woonsc
post May 10 2020, 09:53 AM

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QUOTE(xcxa23 @ May 10 2020, 08:45 AM)
Good!! Many underestimated the importance of emergency cash.
What's your planning with the extra cash?

And I'm interested with higher than FD. May I know which bank and how much is the rate?
Currently I'm parking my emergency cash in rhb bonus saver, as of now still giving 2.65%
Calculate daily, credit monthly.
Best of all, no requirement.
*
Mine is in Stashaway 6.5% Risk portfolio. brows.gif
hksgmy
post May 10 2020, 10:24 AM

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QUOTE(brokenbomb @ May 9 2020, 10:21 PM)
I know I memang kena flame for this but ya, my emergency cash are almost 90% in unit trust.

Yes drawdowns due occur but I just have to ride this through until next year.

But selagi still ok, continue doing RSP ja
*
I’m a self avowed ultra-conservative investor. When I say emergency funds, I mean the most liquid of all liquid assets - short of stashing physical notes like Najib in his house - I have them in high yield accounts that I ping-pong every 2 to 3 months to take advantage of the promotion rates.

Not even in FD (which I do have money locked up as well). Here are 2 examples - one is with Maybank Singapore, the other is with NAB:

» Click to show Spoiler - click again to hide... «


And yes, my NAB account bears my lowyat forum nickname. I thought it to be a nice touch. My UOB accounts have also been renamed to my lowyat nickname too haha.

This post has been edited by hksgmy: May 10 2020, 10:32 AM
xcxa23
post May 10 2020, 10:30 AM

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QUOTE(woonsc @ May 10 2020, 09:53 AM)
Mine is in Stashaway 6.5% Risk portfolio.  brows.gif
*
stashaway is not as liquid as saving acc tho
whats the ROI?
woonsc
post May 10 2020, 10:33 AM

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QUOTE(xcxa23 @ May 10 2020, 10:30 AM)
stashaway is not as liquid as saving acc tho
whats the ROI?
*
As of now 0.13% MWR
0.8% TWR

Don't need to be that liquid, I have CC to tide at least 30 days. While withdrawing.
brokenbomb
post May 10 2020, 10:34 AM

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QUOTE(hksgmy @ May 10 2020, 10:24 AM)
I’m a self avowed ultra-conservative investor. When I say emergency funds, I mean the most liquid of all liquid assets - short of stashing physical notes like Najib in his house - I have them in high yield accounts that I ping-pong every 2 to 3 months to take advantage of the promotion rates.

Not even in FD (which I do have money locked up as well). Here are 2 examples - one is with Maybank Singapore, the other is with NAB:

user posted image
user posted image

And yes, my NAB account bears my lowyat forum nickname. I thought it to be a nice touch. My UOB accounts have also been renamed to my lowyat nickname too haha.
*
3% of a million is already 30k. Haha.

But mine is only in the 4 figures,

So maybe my risk profile is different 😅

But then again after i reach that 1 million mark, I might be looking at FD or filling up my asb 1 and 2.


hksgmy
post May 10 2020, 10:38 AM

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QUOTE(brokenbomb @ May 10 2020, 10:34 AM)
3% of a million is already 30k. Haha.

But mine is only in the 4 figures,

So maybe my risk profile is different 😅

But then again after i reach that 1 million mark, I might be looking at FD or filling up my asb 1 and 2.
*
SGD deposit rates are way lower. I’m getting less than 2% on my SGD savings - but it’s a trade off for being highly liquid. I’ve already drawn down quite a bit during the recent stock market turmoil due to COVID 19, and picked up a few good IG bonds below IPO price as well as a few banking stocks that I’ve been eyeing.
xcxa23
post May 10 2020, 11:02 AM

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QUOTE(woonsc @ May 10 2020, 10:33 AM)
As of now 0.13% MWR
0.8% TWR

Don't need to be that liquid, I have CC to tide at least 30 days. While withdrawing.
*
i guess i will stick with rhb 2.65% tongue.gif

i got think of ''CC to tide at least 30 days''
but then i realise, not every place accept CC

and during MCO, while buying groceries, i prefer go to those smaller kedai runcit. bit more pricey but less Q and crowd

brokenbomb
post May 10 2020, 11:04 AM

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QUOTE(xcxa23 @ May 10 2020, 11:02 AM)
i guess i will stick with rhb 2.65%  tongue.gif

i got think of ''CC to tide at least 30 days''
but then i realise, not every place accept CC

and during MCO, while buying groceries, i prefer go to those smaller kedai runcit. bit more pricey but less Q and crowd
*
But MCO did force some of the kedai runcit to “card x accept boss, boost boleh” 🤣
woonsc
post May 10 2020, 12:55 PM

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QUOTE(xcxa23 @ May 10 2020, 11:02 AM)
i guess i will stick with rhb 2.65%  tongue.gif

i got think of ''CC to tide at least 30 days''
but then i realise, not every place accept CC

and during MCO, while buying groceries, i prefer go to those smaller kedai runcit. bit more pricey but less Q and crowd
*
biggrin.gif This kind of black swan event, by the time hit us, already withdrew la.. imo
But yeah, if that keeps you save! icon_rolleyes.gif icon_rolleyes.gif
MalaysianFire
post May 10 2020, 12:56 PM

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QUOTE(xcxa23 @ May 10 2020, 08:45 AM)
Good!! Many underestimated the importance of emergency cash.
What's your planning with the extra cash?

And I'm interested with higher than FD. May I know which bank and how much is the rate?
Currently I'm parking my emergency cash in rhb bonus saver, as of now still giving 2.65%
Calculate daily, credit monthly.
Best of all, no requirement.
*
thinking of venturing into the stock market. But still reading about it, have a full-time job so not much time to actually go and research the companies. So taking it slowly, its money anyways would not want to regret losing it.

I'm putting my money now into Standard Chartered PSA. Gives 3.6% provided you put in 3000 fresh funds every month and spend RM1000 in credit card spend every month and you get the 3.6%. I have this as my salary account, so automatically, 2.1%, if spend RM1000 which is possible, then another 1.5%. Some requirements but hey no free lunch in this world.
MalaysianFire
post May 10 2020, 12:58 PM

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QUOTE(brokenbomb @ May 10 2020, 11:04 AM)
But MCO did force some of the kedai runcit to “card x accept boss, boost boleh” 🤣
*
nowadays should use e-wallet more. a lot of banks giving rewards if use credit card to top up to e-wallet.
MalaysianFire
post May 10 2020, 01:01 PM

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QUOTE(hksgmy @ May 10 2020, 10:24 AM)
I’m a self avowed ultra-conservative investor. When I say emergency funds, I mean the most liquid of all liquid assets - short of stashing physical notes like Najib in his house - I have them in high yield accounts that I ping-pong every 2 to 3 months to take advantage of the promotion rates.

Not even in FD (which I do have money locked up as well). Here are 2 examples - one is with Maybank Singapore, the other is with NAB:

» Click to show Spoiler - click again to hide... «


And yes, my NAB account bears my lowyat forum nickname. I thought it to be a nice touch. My UOB accounts have also been renamed to my lowyat nickname too haha.
*
wow. nice. even dividens alone from the savings accounts can keep you going in terms of expenses. If you don't mind, may I know how long you have been investing already ?
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