Nov 2 2014, 10:51 PM
QUOTE(ohemmgee @ Nov 2 2014, 10:22 PM)
Currently I am in 1st year undergraduate and planning to do MBA 2 years after I graduate which is probably about 4 years from now.
The cost of the MBA is about ~RM300k. Would love to hear the ideas and opinions on investing/saving in order to reach the goal.
Assuming current allowance is RM300/month and RM2k/month for the 2 years of working later on.
Assumptions: The cost of the MBA is about ~RM300k. Would love to hear the ideas and opinions on investing/saving in order to reach the goal.
Assuming current allowance is RM300/month and RM2k/month for the 2 years of working later on.
- RM 300/mth x 12 months = RM 3,600 (1st year)
- RM 2,000/mth x 24 months = RM 48,000 (2nd and 3rd year)
- Annually Compounded investment scheme
With your monthly investment during your first year, you will need to land a total of RM 15,000 by investing RM 300/mth. Hence, you will need to seek for an investment scheme that is able to provides you with a minimum rate of return of 250%pa.
As for your 2nd and 3rd year, with a lumpsum of RM 15,000 and a regular investment of RM 2,000/mth, you will need to seek for an investment scheme that is able to provides you with a minimum rate of return of 200%pa.
Hence, with your total contribution of RM 51,600 in the next 36 mths time, you should be able to land approximately RM 300K.
Instead of making a trip to the casino, the only possible way for you to achieve this is via equity investment. Best of luck in gaining your MBA!
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