For non bumiputra try go for fix deposit, ASW2020,ASN. Since this topic no focus on Stock, Unit Trust  I heard somewhere around kl HSBC (around central Market area) for FD goes up to 5%. Best part investing on ASB,ASW2020 ASN etc is if they go down all the other bank goes down too. Because those are under government supervise.

Its not announce yet. Sabar, sabar.... 

  Don't Ever use Asb loan for your saving or investment purposes. IT'S A WASTE OF MONEY. Refer to the webpage give.
WHAT HAPPEN IF U USE ASB LOAN. Sorry it's in bahasa Malaysia. Hope it helps 

Tomorrow judgment day for all of us who have invested in ASB & ASW2020. Good luck hehehe

ASB and ASN already announced their distribution of income last week.

ASW2020 book closing date is on 1st September every year.

Sorry wrong post 

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Added on February 6, 2007, 8:14 am

1.    Been working since 15 years of age.
2.    No girlfriends (Which save me right up to 99% of my saving). Recommended for   
      people wants to gain RM500k before age 25. At age 25 I already have RM675k
      in my ASB+ASW+Tabung Haji. Of course parents help as welllah. With this u can 
      escape from incometax. Been doing it 15 years already. 
3.    Most of things (Like food, place,car,petrol etc fully sponsored by parents)
4.    When shopping always bring pen and paper. Each item you about to purchase
      list the pros & cons before purching. By doing that, I always end up buying   
      nothing since lazy to list down.
5,    Once you receive salary bankin and cut your atm card (Only keep your bank 
      book). Ask your parents to keep in. Only use the saving when u in critical 
      situation (Means dying)
6.    Never leave your parents house. (So rent free)
7.    Always think about yourself. Ignore others. Set target where only you in the
      picture. Maximize the opportunity of using your parents money. Pity them less. 
      Because soon or later they will go anyway. So all the assets goes to u anyway.
8.    If possible try to ignore EFP + Soso or what so ever to avoid record with income 
      tax.
9.    Say Big No No to credit card, mutual fund, Stock, Unit Trust, MLM, Loans etc. ( 
      Unless you fully understand what you want to get involved then ok).
10.  I know it sounds selfish but that's the only way for you get gain RM1M+ before 
      age 30 unless you have business. My next door neighbour gain RM4M as in 
      saving already by doing business. He's only 21 years age. Dam jealous of him.

Buy a house.  . Nolah is all self satisfaction. After 1M i just keep 5 year fix deposit at citibank. Get a special rate interest. I'm doing this to boost my self confident. U think is easy to get RM1M before age 30 + tax free?

ASB max is RM250K means u can put right up to that amount. ASW not sure but i have more then RM250k in there. Self satisfaction is very board bro. U refering to yours, mine or other people?. Different people different taste. Now i am talking about my own satisfaction. Means i like the way it's done. Business i am not interested for the time been. Wait until something happen to my parents then i think about it. Coz a lot of things will happen when u know. Insurance, property etc is there. Well that's my life. Getting yourself involved in business is like trying to establishing yourself to people that u have money. Nowdays EVERYTHING PEOPLE CAN DO. If u have some unique product after 20 years hardwork of doing research etc, people can get your receipy in matter of seconds.

250K can grow with dividen. Even untill 10 MILLION also can  . But u can only put your pocket money MAXIMUM UNTIL RM250K ONLY  . Another thing is NEVER LOAN FROM BANK FOR ASB PURPOSES. At the end of the day u cry. Bank make more then you. 

Doremon,

<< Cara A - Gunakan dividen untuk bayar semula pinjaman

Hasil pengiraan saya menggunakan software Optimoney, jika dividen 7% setahun atau RM 7,000 itu dibayar semula kpd bank untuk mengurangkan baki pinjaman anda, loan ASB anda dijangka selesai dalam masa 7 tahun 6 bulan dengan jumlah pembayaran penuh hampir RM 120,827 (termasuk deposit RM5,000 dan dividen RM7,000 yg dibayar semula setiap tahun)

Ini bermakna, anda terpaksa membayar RM 120,000 untuk mendapatkan RM 100,000 selepas 7-8 tahun. Untung atau rugi?

Jika anda labur RM 731 ke dalam ASB setiap bulan selama 8 tahun pun, simpanan anda akan menjadi RM 94,260. Campur deposit RM 5,000 yang disimpan untuk 8 tahun juga, nilai pelaburan selepas 8 tahun adalah RM 8,590.

Total nilai pelaburan anda = 102,850. Dah lebih RM 100,000 dah.>>

You put in 5K and take a 95K ASB loan.  You take the dividend to pay off the loan. You only actually ONLY put in RM8,590 across 8 years.  But, you get $102,850 after 8 years.

How many percents of return is that?

Please tell me why a Bumi cannot be rich with scheme like this??  And, there are very few bumi that invest up 250K at ASB.  They only need 5K to start.

Dreamer

P.S.: The calculation is simpler than that.  As long as the ASB's dividend rate is higher than the ASB loan, you get positive cash flow aka you get more money.  So, you should take as much ASB loan as possible and buy ASB up to the max.  Then, use the positive cash flow to pay off the ASB's loan earlier.

How many percents of return is that?

Please tell me why a Bumi cannot be rich with scheme like this??  And, there are very few bumi that invest up 250K at ASB.  They only need 5K to start.

1) It is ONLY 5K plus 1 years payment to start.  Read the article again.  You use the dividend plus a bit more to pay each month.  If you delay buying the car and suffer for one year, you have the money.

3) Most likely, the person spent the dividend as opposed to using the dividend to pay the loan.

5) Do not buy car until you can afford it.  Do not buy house until you can afford it.  Do not get married until youc an afford.  Do not have kids until you can fford it.  It is always your choice.

Please explain to me how a non-bumi can get rich with the same kind of limitations and no easy money making scheme like ASB.  They do (5).

1)  Who say so??  What other investment scheme has BETTER return than this?? Tell me one. 

2) You are FORGETTING a very simple fact.  You are only putting in 20K. And, you earn 10K per year out of those 20K.  What other kind of investment give you that  kind of return?? You have to be a loan shark to get this kind of return.

3) A lot of people are getting rich from this.  They just choose not to tell you.

The KEY question is do you believe that the ASB dividend rate will always be higher than the ASB loan interest rate.  If you do, this is free money for you.

When you had faced starvation before, you know that everything is a choice. 

Actually, if you really use ALL your dividend to pay the loan, the loan is pay off in less than 10 years!!!

1) Go back to original post.  Dividend from ASB is higher than monthly payment of ASB loan.  So, you can pay down the principal every year.  You can pay off the loan in less than 10 years. That gives you a return of 20+%.

2) It is pointless of argue about whether it is enough to be rich.  Why each and every bumi do not have at least this 200K of free money?? The non-bumi definitely DO NOT has this free money.  So, bumi can be richer with this scheme.  Why this is NOT happening?  I will take this money any time if I can.

The bottom line conclusion is very simple.  It is very easy for bumi in Malaysia to have up to 200K worth of asset.  And, this has been available for the last 30 years.

Well, what can I say. I learn quite a few from u guys debating. Keep it up. kekekeke

1) It is YOU who is taking the ASB loan.  So, you could make sure that you ONLY take the ASB loan that allow you to pay off the loan earlier.

2) Who say you must take a 200K loan?? It can be 50K, 100K or even 10K?

3) You confused yourself with a lot of unnecessary numbers.  It is actually very very simple.

You take a loan to buy X.  X giver your dividend rate of 7%.  The loan interest rate is 6%.  So, X is paying you (7% -6%) = 1% every year.  It is a positive cash flow.  As long as dividend rate is higher than loan interest rate, this investment give you money every year.

So, if X is 200K, you get 200K * 1% = 2K more each year.

4) Monthly payment is depending on term of the loan ( 10 year, 20 years, 30 years).  You could make the term of the loan as long as possible (30 years) so that you have low monthly payment and your annual dividend check is big enough to cover the monthly payment.  As long as (1) is satisfied, eventhough the term is 30 years, you could payoff earlier if you have more dividend.

5) We have NOT even factor in the bonus that you get from ASB every year.  The return is even higher.

6) You should setup a separate A/C where the monthly ASB loan is paid automatically.  Every year, you deposit your dividend check into this A/C.  Then, you do not have to do anything for one more year.  It is fully automatic.  Just forget that you have this money.

If you are uncomfortable with this scheme, just buy ASB and re-invest the dividend every year.  But, you are leaving free money on the table.

There is ONLY one KEY question.  Will the ASB dividend rate higher than the ASB loan interest?? That is all.  Monthly payment is determined by the term of the loan.

P.S.: ASB used to give dividend rate of 14%.  Do your parent buy ASB?

P.S.2: I learned this from Kiyosaki's books.  Instead using the formula for real estate as shown in the book, I am using this for stocks, unit trusts and mutual funds.