even though im a major in finance, i fail my personal fund management..i always go bankrupt early in the year as of now..i guess managing a company is different than self management where there is so much lust and temptation lurking around..i guess theoritical skills if just for guidance but does not make you any smarter...

Hmm ... based on ur calculations, i think you are a person who don't have any commitments for the time being. May b you still stays with ur parents and your parents have a car for u to use? okie, but anyways, didn spot clearly r u a guy or a girl??

The reason i say this is because 2 insurance covering the same thing is duplicated and not necessary. If you are a guy, even though u do not have any commitments right now, i think 900 for insurance is still too much for u. You have to plan for ur own future and this insurance will tight ur money for 25 years.

How if in future u need to get married? You still have to invest on ur own child medical and educations insurance. I seriously advice you to sit down and plan nicely on your own financial.

If you are really from a rich background then i totally agree with u. You are doing the right decisions, coz instead of spending your money away, at least you invest on something with great returns

Totally have to agree on that,when the child and spouse comes into the picture theres no escape.You would be able to insurance yourself if you tighten up your budget up to that level but your family would be left out in the cold..recalculate your planning and include events that may or may not occur in the future.

This post has been edited by nabelon: Jan 9 2007, 11:33 PM

Always in my mind, i only treat as RM800 (RM1700-RM900) is my real salary and the RM900 is not in my mind. I'm a guy. You said 2 insurance is not necessary? For example, if i suddenly death, can i claim my money from 2 insurance company? This one i not really clear.

Currently i don't have any commitment, but if i get married, all my expenses included child medical and education and etc are reponsible by my company.

You mentioned that "at least you invest on something with great returns", mean insurance is a good way of investment? If i come from rich background.

Yes, mine one is prulink, not necessary you need to tighten for 25 yrs, you can withdraw out any time, just like your bank's Fixed Deposit.

i asked the PTPTN guy, the amaunt we pay every month include the admin charge. let say they we pay RM100 per month, and the admin charge for everymonth is RM40, so we only pay back RM60 for our loan.. so when will our loan finish????

Hmm ... I see. Thanks for the prompt reply. I guess I will need to consult the agent once more for further details about it.

Regards,
Hughie

seriously PTPTN charged a very low interest rate (admin charge). You cant get that anywhere else. So dont complain and remember to pay your installment.

Why suddenly relate PTPTN in this thread?

AFAIK, my vague memory tells me that you can't. Though you ought to check this out.

Regarding the investment + insurance. I'm a bit skeptical about the return and I suggest you should find out more about it. Just because the sales people tell that you might be getting X amount doesn't mean it is a promised amount.

It's important for you to check the T & C and also, I would suggest finding out the cost they incur to you every year, where did you money go to and etc.

Remember, they are not a charity body and they are making money out of you.

RM900 per month on insurance? now that is too much.....lol....ur coverage is RM500k ar? make sure got coverage for critical illness. if not... u wont be the one enjoying it.... u kena cancer (touch wood) at least u got RM500k + interest. die also die happily.... (choi...choi....)

my 2 cents....

the key word is to start early on investments (difference in compounding interest on 20 years & 30 years saving is alot). and to save first, then spend later.

Sorry bro, i don't understand what you mean, can you tell clearly? Thank you!

he says that that the 10 years difference could have quite an impact on what you get in return from the investment.

Got a question. You guys mention to transfer money into another account.
Can we have 2 savings account in the same bank? I have one in Bumiputra-Commerce( Now CIMB).

If I open an account in another bank. I will be charged a fee for interbank transfer of money right?

I need to make it simple as possible whereby there is no need for me to go to the bank!

Cannot have two savings account under the same principal account holder name. Perhaps one is under your name and the other will be a joint saving which your name is not the primary account holder.

Interbank fund transfer will need to pay for a standard RM2 charge. It's advisable to do it at the counter or cash deposit machine.

Hmm...so is it advisable to open a savings account in a place which you are unlikely going to stay long? Supposing you're now in Sabah temporarily for work and will later go back to the Peninsula...

It's better to open an account at your hometown/home state as when you want to terminate the account, you need to go back to the branch where you opened the account.

I got 2 insurance, one is great eastern, another one is prudential, if i suddenly death, can i claim money from 2 insurance company in the same time?

can claim but you cannot claim because you sudden death. joking.Well as long as you pay the premium and adhere to the policy no prob in claiming by your family that is.