I was uplifting my children FD as for years been lying there. Time to give it to them.

For years? So it is at board rates? Why didn't go chase FD promo?

Wow, looking for Australian properties !

Ask our Captain !

Add: I have asked him before, he kind of saying a good trip for him to Penang. You and me can share that ?

Not spending up children's inheritance ?

I kind of have the same view as our Captain but still have to leave some inheritance to them.

This post has been edited by bbgoat: Aug 8 2015, 09:12 AM

May be captain can write something on his blog to make it more attractive.....there are quite a number of talk on this investment in Aus property

Now as for the FD need CASA requirement - when we deposit our FD, we are asked - 1) Add on interest to Principal and rollover or 2) Credit interest to CASA. So, how how the money always with the bank upon maturity unless we go withdraw it.


Below all OT:

I will answer the second part first. My children money from their years of Ang Pows is THEIR money even though they are deposited in the banks (mostly FDs) under joint accounts with my wife and myself. Once my children turn 18, I will open new account where their name is first and transfer the money into this new account. What they do with their money is no longer my concern.

As for spending our future children inheritance, like I said in my articles, might as while spend our money on our wife(s) and ourselves instead of our children spending it on their spouses or other people wifes (girlfriends) and on material stuff. I guess we don't want to try and dig ourselves out of our grave when our son go spend our money on handbags on other people wifes, hahaha. But I am sure I no need to tell you guys as you guys know how to go burn your money on relaxing activities, hahaha.

Having said the above, in my latest article titled Black Rolex Yacht Master Versus BMW 118i , because I love my son so much and worry for his safety, I am willing to sacrifice my wants for his needs. Which most dads will do. And at the end of the article, conclusion the same as always, we can't take our money to the grave. Better go buy the luxury goods you want before new stock comes in or else you end up paying much much more in the coming near future.

Bro, I have touched on investing in Melbourne apartments several times at my blog (scroll down to the subtopic of interest):

Melbourne Victoria Australia - back in 2012.

More A Little Bit Of This and A Little Bit OF That - Volume I, Chapter III - back in 2014. In this article I also mentioned about De-Facto factor and why you should not buy the property under your children name (more so if he is a playboy, hahaha). Also, if they inherit the property, they got to pay stamp duty to complete the transfer which can be a lot!!!

Investing in Australia - first you need to ask what is the purpose. You are exposed to the same risk when investing in property anywhere. Landed property always better for long term. And unlike Malaysia, you will 100% be taxed if you make a profit when you sell it.

Australia property market was booming like nobody business ( just like here before 1997) until 2008 -2009. If you had bought a off the plan (new) apartment in 2008 and wanted to sell upon completion in 2010 to 2012, most probably you would have lost money. The property market remain stagnant until late 2013 when it started to pick up (interest rate went down to record level and is still low) and since then we have saw double digit growth annually in prices (for landed property) in all major cities. For apartments - only 1 digit % growth. I can tell you in Melbourne, one can even get a newly completed apartment for less than what the buyer paid to the developer! This is because there are currently freaking too many apartments AND they can only be sold to the locals, as such the market for second hand apartment is very small compared to off the plan (new) which are targeted at foreigners (China).

If you google - Australia Property Prices (and then versus New York) - you will note key words "bubble", "one of the most expensive on earth", property prices up in Sydney and Melbourne but down in Perth and Darwin, etc.

Have you met anyone who bought apartments in Australia in the last 3 years telling you that they are making money from their investment in Apartment(s) in Australia? Holding cost of apartment is high - you got to pay this and that and if you take loan to purchase an apartment, 99% you won't be making any money even though you were promised 5% yield.

Now if you buy a new landed property and it is not rented out, are you going to fly there periodically to cut the grass?

My advise to you is go to the many so called Australia Home "EXPO" and get a feel of prices, not sure in Penang, but in Klang Vallley, every weekend they are many agents selling properties overseas (London, Australia, now even Canada). Most recent Gamuda and UEM selling apartments in Melbourne. There are a few Malaysia developers in Melbourne - MRCB, Setia and even Far East group. And before you buy, fly there and check the place out, ticket very cheap. less than RM1K also can get during AA sale.

Having said the above, if you think your grand children will be gong to Australia for their education, sure go buy an apartment in the city most likely where they will go else I think Penang Island Semi-D better bet to make you money (much more if your children and/or grandchildren inherit it) and life simple Of course we know you got lots of money and got holding power, so one benefit of investing overseas is you then have a good reason to go holiday and check out your overseas investments periodically (and if got a landed property, go cut grass, hahahaha).

This post has been edited by Gen-X: Aug 8 2015, 12:00 PM

Joint FD with children name, will be a hassle if need to change banks every year. Now i change all to BR that is if they dont take out and spend on their girlfriends n boy friends.. A bit scared though..


This post has been edited by magika: Aug 8 2015, 01:07 PM

Chinese culture has 3 pillars
1. Work
2. Save
3. Migrate to Australia

Ha ha ha, I have same issue as you when all their FD was in CB. My wife was taking care of the FD's. But then moved it out and placed for higher rates. Putting in BR may be a good idea. If not Affin with board rate of 3.7%.

You no scare meh, or just a bit ?

This post has been edited by bbgoat: Aug 8 2015, 01:14 PM

Yeah, wanted my son to go to Australia. But he opted to U.S. That is why I am

Actually as I mentioned before, I changed my view on children's inheritance after reading your article !

No point to hold on to what we have but spend it as needed (note still "as needed"). But some indulgence as compared to last time holding to what I have.

At one time I was looking at property in Australia as my son will be going overseas. But later he opted for U.S. Now USD going sky ward ! The amt that need to be paid versus the RM3.80 psychological limit (or worst still RM3.3 or RM3.5) is quite some money. Some even talking of >RM4 !!

Back to the Australian property, there are still some companies selling overseas properties in Penang from time to time. Probably less than in Klang Valley.

No lah Bro,

1. Work
2. Children Education
3. If got Balance - Baccarat or Louis XIII or China Dolls

If one got money, I tell you, life here is heaven and sure won't want to be in Australia contributing taxes to pay for their welfare system. If no money and young, yeah go work overseas and will earn more with less working hours

3. If got Balance - Baccarat or Louis XIII or China Dolls

Australia working life is easier. When I was there years ago, there was proposal of EVERY company shut down on Sunday ! Main reason say it is for family life ! Imagine that.

This post has been edited by bbgoat: Aug 8 2015, 01:59 PM

MBSB Mega Splendid Deals @ 4.50% pa
Min 1k for 18 mths from 1/8 to 31/12/2015
http://www.mbsb.com.my/misc/Flyer-MegaSplendidDeals4.5OL.pdf

THIS!!!

MBSB customers and/or its children can apply for MBSB 1 Malaysia Education Fund Programme
http://www.mbsb.com.my/csr_education_fund_programme.html

Why MBSB suddenly so generous? They are the worse performing bank in malaysia (based on income if I am not mistaken)

Dun worry so much on y
Instead, just place FD to reap returns

why worry,high fd rate go for it,mate.

Hi everyone , I'm new guy just coming in.

I would like to know that what is this month ocbc FD promotion?does last month offer still valid - 4.2% 12month?

Thanks Carptain for the valuable advice....especially on the yield on rental return.....the capital gain tax...