Hi guys,

I'm currently having 9k in my Tabung Haji account.

I'm planning to get married at the end of this year, and have been thinking to put my money in short term FD. My friend said probably I can put my fund into 3- month FD, then bring out it again, and put the fund again into same 3 mth FD, to grow my fund.

can I actually do so?

Hey guys , I just started working yesterday as a part time cashier.

My salary is RM10/hour and I work for 8-10 hours a day.

I'm just 17 this year and I have no expenses for now except eating.

May I know what can I do with my salary (expect to be RM2k a month) to multiply it ?

I've thought of either forex or stock trading.

At your age, the best investment is in your education

less chance is nOT "you will not lose your money"

Hello guys & Sifus here, I am currently in the midst of creating a portfolio for my future plan, and I realise that there isn't much people in my friends and family know about money especially when come to personal finance. So I would like to ask for some advise / opinion which might can help to improve or revise about my plan for future.

I am now 23 & single, stayed with parents and handling family business and my own businesses, got not much expenses for myself cause my businesses cover 80% of my expenses. Which generate approximately 10k as earned income for myself.

My plans is to inject money into this 4 category of allocation ( I use 150,000 for example)
1. Saving : 20,000 (I just need 10k for personal use & able to cover myself for 3mth)
2. FD : 25,000 (Short term 4month)
3. Dividend Stocks : 65,000 (7% annually)
4. Property Fund : 40k (to purchase new house for rental)

I am looking to create some cash flow portfolio instead of capital gain portfolio.

So here is my plan, but any way for me to make the money work harder?

Sounds good in enhancement but was thinking of any way to expand another way to generate income as these allocation might be steady but way too conservative. Any other options for me to study more into new "production line" of money?

hi bos..u got any bluchip stocks for dividend yield..hehe

well looking at ur nick & blogs just wanna see what ur view on dividend stocks

with falling prices quite good time to accumulate defensive stocks like this

ur view..among big names wats ur top 3 picks boss   

I have a very optimistic plan. That is to put money into an eFD monthly for 4 years. From 5th year onwards, compounded funds to be placed in yearly tenure FD (higher interest), while still committing to a monthly 1 year tenure eFD.

At the end of the sixth year, I aim to be able to achieve >RM500,000 taking into an estimated consideration of a property being sold at net profit of RM150,000 around Year 4 or 5.

Year 1: RM3,000/month
Year 2: RM4,000/month
Year 3: RM4,000/month
Year 4: RM4,000/month
Year 5: RM5,000/month + RM150,000 (property net gain)
Year 6: RM5,000/month

This is the general idea, but obviously I do not want to place all eggs in one basket only relying on FD. Please give some ideas on how to split investments based on the above commitments. Thanks.

Purpose of this is to see what are my options for short term (non-retirement) saving + capital growth.

I don't really want to factor that in as as these funds is primarily to grow to RM500,000 in about 6 years. Just trying to see what other options there are apart from FD?

For what when we have FSM. How much is your SC?

Wondering if this thread still active.

Background
Coming 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 Spending
Salary: 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.

Savings
RM130,000 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?

@Dividend Magic

What is the healthy level for emergency funds? I.e. putting aside 6 / 8 / 12 months of salary?

Do you think getting 1 additional property (use up RM100,000 of cash as downpayment and miscellaneous) will stretch up my cash level? Or it is better to use the cash to payoff House Loan 1, to reduce bank interest charges?

Thanks.

ah Bali is nice. Well good luck in budgeting that. 😅

Again I'm no expert, I'm learning along the way. DM is way more knowledgeable.

As for emergency fund, other alternatives is ASB or ASx products.it's about 6% pa.
as for child,  depending on your willingness to hands on. I might suggest splitting life/med insurance away from investment link policy.

Get maximum coverage what you deem is fair up till 20 years old maybe? then put the rest to mutual funds. follow exactly which funds the insurance company is investing. walla! you have yourself a diy investment link insurance plan 😅

I wish we had the options like now earlier in my years. we can do our own investment via FSM/eUnit for mutual fund.

do share what you come up with. I'd like to know what you decided

I agreed with you regarding the property. There are no positive cashflow from 2nd house at the moment, as rental = mortgage installment. Instead, I am paying RM150+ monthly maintenance fee. Highly likely I will not get 3rd property at the moment, due to uncertain market sentiment and no good property in my mind now. It is better to keep additional cash for coming weddings (as buffer).

I will put aside RM3k per month (allocation of 50% high yield stock / 50% REIT). Once I accumulated RM20k - RM30k in stock market, I will stop , comparing return and review this stock plan.

I would say this is relatively conservative plan, but within my comfort zone. What do you think?

Just a follow-up question on this subject : if one already has a sizeable cash or other liquid reserves, would it be advisable to purchase property as a "hedge against inflation" - is this still a valid strategy ?

Not sure where to post, so here I am again. Just realize the importance of personal financial management, hope its not too late to start. Need advice from fellow gurus on financial priorities. All comments are welcomed, I am here to learn.

Background

Living in KL
1. Me, 25, salary 2.6k, no debt.
2. Partner 25, salary 2.5k, ptptn loan 31k. 
3. Monthly saving 1.5k to 2k after all the obligations.
4. We only have joint saving of 21k and few k in epf. No portfolio (please kill me), mainly because we are financial illiterate and  our risk appetite which is very low.

What we want

1. Retire in Melaka.
2. Low cost house to live in, preferably 100k~200k, the lower the better.
3. Marry by 30 y/o, will not have children, just us for the rest of our life.

What we think need

1. Eliminate ptptn loan.
2. Emergency fund.
3. Insurance.
4. A sound portfolio.
5. A retirement plan. (not sure if this is included in the portfolio, would be great if someone can point out for me)

This is what we came out with on what we should focus right now, but the problem is we do not know where to begin.  Please advice and thanks in advance!

Hi Dividend Magic, seen you helping so many people, would like to seek for your advice as well.

I am currently serving my notice period. The next job would gain approximately RM3000 after deduction. I am planning to do some restructuring on my finance since I could not save much in my current job. I do have a partner and planning to get married in 2018. She's earning around RM3800 after EPF and we are planning to get a house with the budget of RM500k. In my next job, I am planning to force save RM1000 from my salary and use whatever that remains. Have plans on doing fashion business but have no idea where to begin.

Under my name I have house and car debt. Both added up close to RM2200. Good luck for me, I am not paying the installments so I have the full control of my own money. For now the one thing that might generate income in future is my investment from Eastspring for RM150 per month. Just started like 2-3 months ago. Do have plans on increasing the ES investment or sign on other investments but not sure which is more suitable for low income like myself.

Would like to ask what should I be doing with the force save RM1000? Do I go for emergency fund first, save up to six months then only consider other investments, or I break into few parts and invest on multiple places? My property friend asked me to invest on houses, but don't think I have the capability of doing so as my name is pretty much "debt ridden".

EDIT: Currently I am asking for 11% in my new company. Should I drop to 8% and channel those remaining 3% into investment/savings?

Wow, thank you so much for replying me at this hour. Wasn't expecting a reply that quick.

As you mentioned, money saved should be used to purchase assets that can generate income. Do you have any examples that I can put my money into? As for the Eastspring, it is UT. My sister, she works as an insurance agent so she recommended me that. I would actually want to be sleeping partner in fashion business and since I have marketing knowledge, thought I can get into it and be back end support.

And last, any websites that can enpower myself in finance management?

That's share right? Don't think I would be going for it at anytime in near future. Need to spend some time to learn more on self-sustain + savings for future use. When there's a passive income on the side, will consider going for shares.