Billy

My advise is alwis make strong of your foundation first. Get invest to education(at
least get a degree). Forget abt those investment & house whatever. Put the remaining investment all into FD. Alwis remember 100k u save from ur hard work at other country is not easy to earn. Bare in mind & i guranteed there is a lot of ppl in their whole life can earn RM100k but cannot save 100k in their bank.

It is alwis a wrong path to throw the money u earn into the business. This becos u was outside with the acknowlege of the growth in malaysia. Thats why i seen a lot of my frens dump into drain of their Rm100k (invest in car accesories, restaurant, cafe & etc). Its easy to open a business but not easy to run the businees successfull. a busineess is not abt 3-4months....is abt 3-5 years if talk abt ROI.

To buy a house is not a rush. A lot of ppl into rush to own something ending up killing themselves with commitment. Abt marriage i also i dont encourage in rush as well. Mostly nowadays marriage divorce is duly of financial problem. The main here is not abt u have RM100k, its abt how monthly u can afford & contirbute to ur future expenses. Let say as previous so many comments that u invest house, unit thrust & marriage.
House = Rm30k(assume u buy low cost house-pay more d/p so ur monthly reduce)
Marriage = Rm20k(cheapest extimation)
1st child = Rm10k(minimum estimation)
All above mentioned is a minimum estimation only. All u using now is ur RM100k. How abt u contribute monthly with ur income as with ur qualificaiton as SPM.The remaining u have is only Rm40k.To built a family, u easily need at least RM5k monthly earning with provide have abt 1k saving.(1 person earning). As u mentioned u working expetation of 2.5k, i will foreseen u will have a problem even with the amount u have in ur bank. Mayb u can say a family is a combine of ur wife as well?What will the total income of u & ur future wife? Have u work in out?Pls do all this before u get into marriage.Remember to raise up a children is costly nowadays(minimum 1k for one child). And also with ur spm holder, how far & how long with ur expected 2.5k will go to 6k or higher.
What the answer to this?

To share my experience here>>>
Im a graduate engineer in Uk. After graduate i spend 2 years working in Uk(use student pass). The purpose i stay is to save capital money to open my busineess(which i plan since im at 18 years old). I graduate at 21 after 2 years back to malaysia to start my 1st work(at age 23).... i invest on a car(RM28k cash) & others all in FD. Thoughout the year i been working while im thinking of my planning of own busineess. Somehow at a certain brainstorm & advise from senior & my parents. Somehow i gave up my plan & concentrate to my career as an engineer. On that year i replan my onother 5 years plan with calloborate with my carrer path. With these investment i had no any commitment somehow i gained pure interest form my FD(yearly abt 3k) & also monthly saving from my salary(no commitment as my car was paid in cash). For info my starting pay is Rm2k(for my first job). After 1 1/2 year i jump to new company with the higher salary (Rm4k) till current at age of 26. Within the year without any commitment i able to save abt Rm20K. Till to my new job i change my old car & started to have commitment into buying a new car(altis)....Till now im working in a mNC company & more stable career & somehow now only starting to eyes on some investment but not to house yet. I will only buy a house when my salary achieve Rm6k...Dont alwis drag urself when ur income is just sufficient only for a car & a house. Sometimes we dont know where is out career will end up with if we so fast buy a house & end up ur house us at north & ur working is at south.

Hope this can share with you.

Thank you Derek. It is always been a dream of mine to be educated abroad and also to get a degree like most of my friends have done when they finished secondary school. Unfortunately for me, the interest to study is there but the inability to finance it is the prime reason I am working overseas. Until now, I still have some hope that I would be able to start studying again but it is getting fainter as I get older and more commitments. Hopefully, when I start working in Malaysia, I can find some time to do some part time studying.

I fully agree with you about planning my commitments according to what I can afford. It is my hope that my future expenditures won't be so taxing on me as I am preparing for it now. What you did with your savings is a great way to accumulate not only your wealth but your confidence as well in managing your money. Although I commend your efforts to discipline your expenditures, I hope you have kept an open mind about buying a house. It should not be a rush but it is better to be on a lookout for a house always rather than looking for it once you achieve something like a RM6k pay. This could save you a lot if you happen to find a good deal and will keep you abreast of property prices. Just keep an eye for your future house or what house you plan to have in the future, by visiting property launches and houses for sale. There are no commitments for doing those but it will equipped you with the knowledge of terrain and keep track of development cycles.

Regarding marriage, I remember my mother used to say "When you have money, girls will flock to you." Now this is true for the most part, as girls DO really flock to you when you have cash to splurge. But these aren't the kind of girls you want to spend the rest of your life's with. Thankfully, my partner and I have been going out for a long time even before I started work and the decision to marry was not in rush or by surprise. Here is a little advice from a person going to get married, the decision doesn't come like a sudden idea popping on top of your head. Time will mold your thoughts to a point where marriage isn't a big thing anymore, more like a customary event just for the convenience of administration. I hope that doesn't pop the romantism bubble you guys and girls have out there regarding marriage. Hahaha a bit boring the way I explained it.


Lcsx, you are absolutely right about debt there. I don't believe in "rolling" money. I only believe in one thing and that is CASH in hand. Hopefully one fine day I can truly say I will be debt free or financially free.


And a special mention to ansonz. I will NEVER put my money into some get rich scheme and if it is my loss not to do so, then so be it. So Swisscash or swissmutual or any other internet investment scams out there that even has the word swiss in it is definitely out of the question. I hope you don't truly believe that they are actually real and that they have really been operating for even the past decade. Try to research your investments and not believe the advertisements.

Derek/Billycomeback:

Say if you have 100K in FD that will earn you 3k/year, but don't you have to pay taxes on your interests too since it is your income as well?



This post has been edited by netfan: Jun 12 2007, 12:58 PM

Divide ur FD into below Rm20k/FD...can put ur other family name....thats it..Definite u will be prob if u put Rm100k in a FD...

if i not mistaken, FD less than 50K won't kena tax, so, split....

i think you should try public mutual unit trust.

i just say the truth.. for ur info a construction cost for a shophouses is more than 18k... n this 18k is far below their launching price few years ago.. after 20 year u think the price wont increase?? 20 years ago people who bought house in Puchong we say they stupid n see now... n now Tesco bought a 25 acres land in Bukit Beruntung... if u go auction now u will see agent bought the shophouses at 18k...

thanks for explaination now.....