RM1,000,000 / RM3000 = 334 saja meaning still possible to earn 12% if you are the balance 46xx users to contribute RM3k in PRS and dont forget you can also use my link
HAHAAH!!!

Meaning those who have versa account won't get rm40
Only when 1 new account with one existing account then get rm40

This post has been edited by virtualgay: Nov 23 2023, 05:35 PM

Not sure why can go up so much in a short period
Does not make sense
I thought all this unit trust move like turtle 🐢
And I am only looking for like 3% return per year that's all
Whole purpose is just for tax rebate saja



This post has been edited by virtualgay: Nov 24 2023, 11:57 AM

Nice
I old jor cannot take risk
I have 5 years to fully utilities the tax rebate
By 55 sure I will empty everything and move it to EPF
Just celebrated my 20 years anniversary in my company
Can't believe I never change job for 20 years I guess I am not a risk taker
My advice to the young ones pls change job once in a while don't end up like me stuck in a company for 20 years

My post got reported can let me know which post violated the rules? Please enlightened me so I can improve

the 4.3% or close to it... this one super confusing if u were to count as i never able to count it correctly

Can you show me your account or your figure?
With mine I have this issue where I add up all the rebates and all the reinvestment unit yes it does not equal to 4.3% or even 4.0%

For me I will get reinvestment unit follow by 2 x rebates because I have PRS
26th Oct I get my reinvestment unit RM13.34
8th Nov I get 2 x rebates total RM4.04
23 Nov I get my reinvestment unit again RM13.53

Can I assume that if I add up 13.34 + 4.04 is equal to 6% for the month of October?

Nov I yet to get my rebates so I wait and I will report back

In total I have around 10150 right now in Versa Cash

I trying my best to count and nothing make sense

ask Versa lo

because u are their influencer

Yesterday was on a call with Versa to clarify how the 6% works and this was my assumption:

Oct Base return = 3.4%
Versa Cash Promo Rate = 4.3%
PRS Promo Rate = 6.0%

This is how i understand it before i talk to them
6.0% = Base Rate + Versa Cash Promo Rate Rebate + PRS Promo Rate Rebate

6.0% = 3.40% + 0.90% + 1.70%
*3.40% + 0.90% = 4.3% Versa Cash Promo Rate
*1.70% = 6.0% PRS Promo Rate - 4.30%
Total no matter how you count base on the above you will get 6% for the first RM10k

But after speaking to them yesterday this is how they say they count:
Base = 3.40% (Oct Base Return)
Versa Cash Promo Rebate = 4.3% - 3.40% = 0.90%
Versa PRS Promo Rebate = 6.0% - 3.40 = 2.60%
Total Return in the month of October base on % = Base 3.40% + Versa Cash Rebate 0.90% + PRS Rebate 2.60% which brings us to 3.4+0.9+2.6 = 6.9% for the first 10k

they also clarify that the payout of this 6% in Oct and Nov and 12% in Dec will end by 31st December meaning everything will go back to normal calculation by 1-Jan-2024

This post has been edited by virtualgay: Nov 28 2023, 04:54 PM

Quite crazy their promotion
Imagine 10k in December how much you will get
Just assume Dec base rate is 3.4%

So again it will be
3.4% + 0.90% = 4.3%
3.4% + 8.6% = 12%

Total would be 3.4% + 0.9% + 8.6% = 12.9%

10000 x 12.9% / 365 x 31 days = RM109.56

Hope my calculations is correct

50 years old uncle here that is why I invested into PRS

u ask me if i am 30 now i wont even put a single cent into PRS even if taxable income is 100k
base on 100k taxable income if you invest RM3k you can back tax saving of RM570 - (you are at 19%) tax bracket
but if you are now 30 your 3000 inside PRS at most will only grow like 3.5% to 4.5% average per year for the period of 25 years
it is as good as gone case maybe you die also you cannot withdraw because is like EFP
so those young ones if u really believe in PRS then invest RM3k give it a try
those old one, just do it if you are at 50 years old like me, few more months i am 51 then i have 4 more years left then i can take out my PRS

this is from experience and calculation and historical data
my advice is if you are at least 48 to 50 then give PRS a go
if u are 45 and have 10 more years before 55 better not la...
from the tax saving we are talking about RM570 if 100k
570/3000 we are talking about 19% instant gain then you factor in lousy PRS gain of around 3.5% per year
for my case my gain would be 3.5% x 4 (4 more years to withdrawal) + 19% (570) so in total i would gain around 19%+14% = 33% in 4 years
then 34% / 4 years which give me 8.25% per year which is better than EPF and ASM
I will continue to do it when i am 51, 52, 53, 54 then withdraw everything by 55
so basically the nearer to reitrement the better for you to invest in PRS
dont think about PRS for now
put into something like EPF, ASM, SSPN <- conservative type
else put into bank stocks (MBB, HLB, PBB) which give good dividend yield

This post has been edited by virtualgay: Nov 29 2023, 09:02 PM

PRS was never good, 10 years before and 10 years after it will be the same
it is not even risky at all

You are most welcome hahaha

maybe someone uses your code - you are most welcome!

Yes I believe so... Here is my 50
My 8.25% return just went up a little more
With the Nov and Dec extra bonus will push it up even higher



This post has been edited by virtualgay: Nov 30 2023, 10:25 AM

i am on prs conservative
will report back next year

convertive fund



This post has been edited by virtualgay: Nov 30 2023, 05:26 PM