May 10 2022, 07:19 PM
QUOTE(Davidtcf @ Apr 29 2022, 10:26 AM)
if you wait, you let your cash sit around not earning anything. Better put it in to earn interest.
Even if Ringgit strengthen, do you think it will go up a lot? say hit RM3+ ? For me that's unlikely to happen. The most a 0.10-0.30 improvement which is not a big number.
If you put in Anchor with 20% APY, if you put in 1k USD, in 1 year already earn USD 195 with the 19.5% APY.
For currency exchange, below are the maths:
RM4400 / current rate of 4.35 = USD1011+
RM4400 / assume if rate improve to 4.2 = USD 1047+
That interest you've earned would already exceed the above difference in 1 year's time.
I've been contemplating this since I have my EPF ready to invest.Even if Ringgit strengthen, do you think it will go up a lot? say hit RM3+ ? For me that's unlikely to happen. The most a 0.10-0.30 improvement which is not a big number.
If you put in Anchor with 20% APY, if you put in 1k USD, in 1 year already earn USD 195 with the 19.5% APY.
For currency exchange, below are the maths:
RM4400 / current rate of 4.35 = USD1011+
RM4400 / assume if rate improve to 4.2 = USD 1047+
That interest you've earned would already exceed the above difference in 1 year's time.
You have good points there. Plus, imagine those that exploited the opportunity to buy UST when it crashed, would have made some handsome profit.
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