Hansel

Why do you seek more? Isn't it better to be contend with what you have rather than seek for more? Being too greedy could cost you your life's work. Look at China. How many billions got wipe off the market just like that.

By putting say rm2m in Bank rakyat's fd which pay monthly interest, I am sure you are able to survive in comfort in malaysia (just by surviving on the interest).

By the way, what's your final stop where you will stop chasing investment and say move to a secure fund to ensure the wealth is maintain?

dreamer101, I would like your view about those who does not have epf and relied solely on FD, no foreign investment like those uncle and aunties, and those people just started working, are they doom?

Exchanging cash to usd cash is as good as keeping your money underneath your mattress.

I don't agree to your statement about opening foreign currency account in MALAYSIA or just exchaning money at money changer Why?
1. Bank's exchange rate is too high
2. Money is STILL IN MALAYSIA
3. No interest/dividend
4. Rather than opening foreign currency in malaysia's bank, better I change my money via money changer. More value for money.

Rather than holding physical foreign cash, isn't it better to buy foreign stocks/REITS? Rather than money is sitting at home, not growing. At least somehow the money is growing. If the house were to burn down, the physical foreign cash will be gone in a blink of an eye.

1) If you look at the spread of banks, it is higher compare to money changer. I use XE as my reference and I found that banks prices are usually way more comapre to XE. Moneychanger's rates are more or less around XE rates

2) Malaysian bank do not accept foreign currency. Ask them before if I want to topup, can I bring USD notes and deposit?
ANS : Nope. You have to use RM to deposit.

3) Nope. I didn't read.
A) 0 ZERO
B) 0 ZERO
I invested in the fixed price funds hence zero charges. Only very little in the variable price funds. That will be converted to fixed price upon making sure that there is no loss there. (that was a mistake on my part)
Yes I am well aware that they may change to VP in the future. But they have an excellent 19 years of track record giving stable dividends. And no, I don't have EPF.

You still haven't posted your views regarding my statement


This post has been edited by Ramjade: Sep 10 2015, 01:14 AM

There, you said it yourself, money changer gives better rates than banks. Hence why do I need to open a foreign currency account when I can just exchange it at money changer? Better value for money. Both doesn't generate interest. Even if fca generates interest. It is negligible.

You did not answer my question about physical cash /fca not generating interest /dividend. Since you asked people to keep cold hard cash, you didn't answer what happen if the house were to burnt down or A burglar came in and took all that cash away.

A. Could but they didnt. Well, I counted the dividend yearly in my mother's book, there is not a single sen missing. Just to see how much they give and whether it tally with what's being posted in the forum.

B. Again could but they didnt. How I know? Ask those people who withdraw recently. Hansel, some guy who withdrawal few months back. If they deducted a fix charge, it sure would be in the forum. But I didn't come across anything of that sort unlike the FD thread where a missing 0.05% would invoke a massive outcry in the depositer.

They have a reputation to protect. >19 years of reputation. Imagine if they were to do such shady things, it will be in the news. And they did state on the website, ASX DOES NOT HAVE gst. Dividends from ASX are not taxable until 2017 if I am not mistaken. I did ask the counter staff. Any charges incur before placement , charges of dividends and upon removal. They told me no charges.

Yes I know I will fail because I haven't read up about US stocks. That's why I am not willing to put my money in there yet. I haven't learn the Malaysian stock market yet. What more the US stock market. One step at a time.

This post has been edited by Ramjade: Sep 10 2015, 07:26 AM

dreamer101, I will answer your question later when I am back home and have read it.

There are so many money changer in town. You tell me how to know the one with best rate? Do you expect me to visit every state and ask their rates?

Your answer was just this


I asked you about your opinion regarding cold hard foreign cash. You say is a better option than holding rm paper. This is cash we are now taking. Not fca, or any foreign investment but physical cash.
I asked you about what happen if there's a fire or a bulgar. You didn't answer that. I said physical cash is not able to generate any interest/dividend. It will forever be say usd1000. It will never become usd1001. So my question again

1. What happen if there's a fire/burglar?
2. I won't talk about ASX here since that will get us no where. But say you have physical rm and you dump it into FD for one year. At the end of 1 year, your rm increases. Now back to your physical usd1000, by keeping it say underneath the mattress, at the end of one year, that usd is still usd1000. It didn't increase at all. Isn't the goal is to ensure it increases somehow? Please comment on it.

Well despite it being 1%, the money still increase by 6.4%. So I will say that's still fair. Your principal didn't decrease.

Well the way I look at it, US is crying wolf about hike in interest to attract back USD. Most likely I am wrong.

What dreamer is saying is EPF have no choice. Others one is given a choice to invest in GLC or not. Dreamer is asking us NOT to invest in GLC but remove that money and dump it overseas or simply hold cold hard cash under out pillow.

Like that don't know since I don't know. Ask dreamer.

You forgot the fourth one. Trust.

First let me post, it is short live. Why?
- Saudi is on "war" with US. Saudi is forcing oil price to drop so that they can force US shale oil to close shop. Google about it. Shale oil is only profitable if world's oil price ~usd40/barrel
- "Unstable" ehm ehm...
- "Another" news can come out. All cards are not shown yet.
- Malaysia's reserve is quite low. Cannot use it to help the RM. RM is on its own.
- Still have big unsolved "white elephant"

Actually I would like to ask, does all these overseas investment require one to keep monitoring in case something goes south? As far as I know, S-reits is one stable one. Just dump money into it and wait for returns.

I am actually looking for something like 6-7%/pa without the need to keep monitoring. Just dump the money and collect the interest/dividend.

Sorry to ask how? As far as I read. Gst causes consumer to restrict spending.

In addition, luxury items like lobster, salmon are not tax. It won't trajectory 18 months but I think longer this time around.

I don't quite agree with your statement. The world needs trade. And I am sure US will go to great extend to defend the USD. Look at last time when currency was peg against gold reserves. Through some manipulation, the world is using usd.

There's always GBP, CHF and heck even bitcoins. Bitcoins is kind of scary for world's bank cause it is a digital currency no one control. The value is solely depended on the market

This post has been edited by Ramjade: Sep 20 2015, 01:13 PM

dreamer101, you mentioned etfneeds a few thousand dollars right? Is rm5000 enough to start?

Nope. From what I have been following, he has migrated to the US. I could be wrong.

I fully agrees with this. But I think oil prices will always be below usd30/barrel to suppress shale oil.

The Saudis have reserve which can last them 20+ years. The rest of the world aren't that lucky. So it will be see who will bleed first.

They can increase the price of oil but then the shale will become profitable. Then they need to lower it compete with shale.