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 If you have RM200k ...

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Pai
post Oct 3 2007, 09:42 PM

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QUOTE(yewkhuay @ Oct 3 2007, 05:36 PM)
but flexi account is not FD n no interest given rite ? it is used to park money there to reduce loan interest n hav to pay monthly charges like rm10 or something to maintain tht account isn't it ? so it is not related to the Tax issue, am i rite ? unsure.gif

correct me if i m wrong, serious. icon_rolleyes.gif
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By right, tax only applies to anything that generates income. Flexiloans doesnt generate any income for you, and its just a tool one use to reduce interest payments.


So Spartacus bro, u accumulate your 200k solely on savings? Pardon my straight shooting, but really curious to know tongue.gif


b00n
post Oct 3 2007, 09:44 PM

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Doesn't you guys ever read instead of coming up with stupid speculations?
In his very first post you would have known that he is a modest guy by renting small place and driving old junk:
QUOTE
6. Rents a room, drives old car - in other words, frugal
7. Single and available - so no family commitments

thus my comment on dreamer meeting his match.
Where did all those VCD peddling ever cropped up?!
He is a low risk taker as with those money, he put it in FD and saving accounts. Also only fork up 25% for a semi-d which I would presume is for his family instead of him living in there (btw, why not live there?) shows that he is humble and modest. (just basic analysis on character)

Thus now he further comments proves to be through about low risk taker as he find business is risky. Being brushing up on investment for the past 2 years without actual involving in it. Careful I would say. If I were him, most probably I would have join the bull run in KLSE starting last year.

Anyway, since TS is moderate; I would like to advise spending only half on "actual investment" as from the way his character is, he definitely cannot afford to loose all. I know I wouldn't want to risk all the RM200k that I save through the years. Maybe half if I really failed.

RM100k continue in FDs and moderate UT. Another RM100k i would open more risk appetite and invest in stocks and properties.
dreamer101
post Oct 3 2007, 09:51 PM

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QUOTE(Spartacus 2.0 @ Oct 3 2007, 07:58 PM)
How about if I have 200k, but I do not really love my job  tongue.gif  I'll invest in a business only if I'm very familiar with the field, has passion for it and have reliable partners (who are very difficult to find). Anyway, 95 % of businesses fail in 5 years, so investing in a business is extremely risky.


Added on October 3, 2007, 8:06 pm

No worries, I can make sense of the advice and I do know where to begin  biggrin.gif  Appreciate your comments ... I've been preparing myself for two years now. I've read everything from Robert Kiyosaki and Azizi Ali to Ringgit & Sense and CAP's Money Book. Now I'm ready to begin.
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TSSpartacus 2.0
post Oct 3 2007, 09:53 PM

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QUOTE(Pai @ Oct 3 2007, 09:42 PM)
So Spartacus bro, u accumulate your 200k solely on savings? Pardon my straight shooting, but really curious to know� tongue.gif
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Pai, you are right rclxms.gif Only RM150k of my RM400k net worth comes from savings. I am no high-flyer, only a corporate drone toiling away for a modest wage.

I was a partner in a small business. The business was moderately profitable, but dealing with the other partners proved to be frustrating and I sold my share for RM250k. Good thing I sold, as the business later ran into trouble and went belly up.

Seven years ago, I have a net worth of only RM15,000 (savings accumulated since childhood).

Two years ago, I have a net worth of RM90k, I save but know little else about personal finance, I was focused on my career (I was under the illusion that a good employee will be rewarded - what a fool I was), my aim was the Malaysian Dream - be a "good worker" in return for stability, family, 1-2 houses, 1-2 cars.

Now, I have RM400k, older, sadder (early mid-life crisis hits when you reach 30), hopefully wiser. And I've set my sights much higher. What Minolta wrote - "You have been thinking of what to do with your life now and realise you want more money" - was spot on.

This post has been edited by Spartacus 2.0: Oct 3 2007, 10:35 PM
yewkhuay
post Oct 3 2007, 09:56 PM

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QUOTE(Spartacus 2.0 @ Oct 3 2007, 08:21 PM)


I do know a few speculators who snap up numerous properties without doing extensive research. Now they are facing lawsuits and bankruptcy and the banks are about to auction off their houses.
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haha, then they r not speculators, no way near..... laugh.gif
TSSpartacus 2.0
post Oct 3 2007, 10:12 PM

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QUOTE(b00n @ Oct 3 2007, 09:44 PM)
Doesn't you guys ever read instead of coming up with stupid speculations?
In his very first post you would have known that he is a modest guy by renting small place and driving old junk:

thus my comment on dreamer meeting his match.
Where did all those VCD peddling ever cropped up?!
He is a low risk taker as with those money, he put it in FD and saving accounts. Also only fork up 25% for a semi-d which I would presume is for his family instead of him living in there (btw, why not live there?) shows that he is humble and modest. (just basic analysis on character)

Thus now he further comments proves to be through about low risk taker as he find business is risky. Being brushing up on investment for the past 2 years without actual involving in it. Careful I would say. If I were him, most probably I would have join the bull run in KLSE starting last year.

Anyway, since TS is moderate; I would like to advise spending only half on "actual investment" as from the way his character is, he definitely cannot afford to loose all. I know I wouldn't want to risk all the RM200k that I save through the years. Maybe half if I really failed.

RM100k continue in FDs and moderate UT. Another RM100k i would open more risk appetite and invest in stocks and properties.
*
Thanks for your support and advice. The semi-d is in Penang, while I work in PJ.

I'll say I'm a moderate risk taker ... I like to research everything throughly before I jump in. Once I'm prepared, I won't hesistate to pounce when the right opportunity presents itself.

I'm modest but as the proverb goes, "Air tenang jangan disangka tiada buaya" wink.gif


Added on October 3, 2007, 10:14 pm
QUOTE(dreamer101 @ Oct 3 2007, 09:51 PM)
Subscribe to edge and personal money.� It is worth the money.

Dreamer
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Agree. I read the edge and personal money for free in the office or bookshop.

This post has been edited by Spartacus 2.0: Oct 3 2007, 10:16 PM
mIssfROGY
post Oct 3 2007, 10:55 PM

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Actually research so much also wont know....coz if u dun do it, u 4ever wont find out. End up, No action, Talk Only. Just do watever u find best wif your 200k ler. Everybody will be telling u wat works best for them. And wat wont work for them might be your best money making tool.

Btw....dun go with the flow, go solo.

This post has been edited by mIssfROGY: Oct 3 2007, 10:56 PM
zeist
post Oct 3 2007, 11:07 PM

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25% of RM200K, use it to run a small business/part-time business.
yewkhuay
post Oct 3 2007, 11:23 PM

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QUOTE(zeist @ Oct 3 2007, 11:07 PM)
25% of RM200K, use it to run a small business/part-time business.
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TS has got experience in running business with partners....he is looking for something else..alternatives, perhaps less complicated compared to start own business.
velo
post Oct 3 2007, 11:35 PM

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Interesting, Spartacus. I think we share very similar profile. Here's what I've done with my money so far:

FD - 120k
U.T. - 30k
Bond Fund - 50k
Stock - 70k (cash 25k, 45k in blue chip counters)
Foreign deposit - 200k
Fully paid up apartment and now renting out - 120k

Moving forward, I'm actually waiting for a major market crash, where I can cash out from other investment vehicles such as foreign currency, bond, FD and dump into some good quality blue chip counters. Hopefully can ride on a cycle of economy change and double up my net worth after that. I'm targeting to retire by 45 yo, that's my plan....

This post has been edited by velo: Oct 3 2007, 11:36 PM
b00n
post Oct 4 2007, 12:06 AM

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QUOTE(velo @ Oct 3 2007, 11:35 PM)
Moving forward, I'm actually waiting for a major market crash, where I can cash out from other investment vehicles such as foreign currency, bond, FD and dump into some good quality blue chip counters. Hopefully can ride on a cycle of economy change and double up my net worth after that.  I'm targeting to retire by 45 yo, that's my plan....
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haha.....that's what everybody is eyeing now.......
Now the problem lies in when is the right time to buy.
POYOZER
post Oct 4 2007, 12:13 AM

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i put it into ASB and also Unit Trust
dreamer101
post Oct 4 2007, 12:23 AM

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QUOTE(POYOZER @ Oct 4 2007, 12:13 AM)
i put it into ASB and also Unit Trust
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IMHO, you should not put any money in domestic unit trust until you used up your 200K quota at ASB.

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Pai
post Oct 4 2007, 12:25 AM

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QUOTE(Spartacus 2.0 @ Oct 3 2007, 09:53 PM)
Pai, you are right  rclxms.gif  Only RM150k of my RM400k net worth comes from savings. I am no high-flyer, only a corporate drone toiling away for a modest wage.

I was a partner in a small business. The business was moderately profitable, but dealing with the other partners proved to be frustrating and I sold my share for RM250k. Good thing I sold, as the business later ran into trouble and went belly up.

Seven years ago, I have a net worth of only RM15,000 (savings accumulated since childhood).

Two years ago, I have a net worth of RM90k, I save but know little else about personal finance, I was focused on my career (I was under the illusion that a good employee will be rewarded - what a fool I was), my aim was the Malaysian Dream - be a "good worker" in return for stability, family, 1-2 houses, 1-2 cars.

Now, I have RM400k, older, sadder (early mid-life crisis  hits when you reach 30), hopefully wiser. And I've set my sights much higher. What Minolta wrote - "You have been thinking  of what to do with your life now and realise you want more money" - was spot on.
*
mate, appreciate the fact that u shared your story, and I believe your story will be a good lesson for many yuppies here in LYF (especially me tongue.gif ) thumbup.gif

My aim is to accumulate 200k cash before Im 30, then decide whether I'll continue as a corporate rat or do my own venture. Still got 4 more years to go, and Im nowhere near my goal tongue.gif


Btw, having 400k richer at 30 is wayyyyyyyyyy better than having just a measly 50k at 30, so honestly, ur situation is really a lot better than the average man on the street wink.gif

PootieTang_85
post Oct 4 2007, 12:25 AM

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i would save the money and grow another money.
yewkhuay
post Oct 4 2007, 12:26 AM

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QUOTE(b00n @ Oct 4 2007, 12:06 AM)
haha.....that's what everybody is eyeing now.......
Now the problem lies in when is the right time to buy.
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correct, many ppl mention they are waiting for the market to crash then enter to sapu, then i start wonder , isn't it we make money when market is going up? (like wat most fren say : "this is the time now, market is doing well, go in b4 it crashes..."). ok, i know many will reply buy during crash price is much cheaper n wait for it to go up in few years time n earn more....

the question is :
1. how sure r u tht u r buying at the bottom of the crash. ? or it might just goes even lower after u bought....(buy even more to average up the cost? sweat.gif )
2. how sure r u tht wat u bought will grow back , from wat i know , a few uncles still holding some few hundred thousand ringgit worth-ed PAPER which they r still waiting for it to grow back since 1997.....

and again , ur entry point may not decide ur destiny.... icon_rolleyes.gif

just my 2cents.... icon_rolleyes.gif

Pai
post Oct 4 2007, 12:28 AM

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QUOTE(b00n @ Oct 4 2007, 12:06 AM)
haha.....that's what everybody is eyeing now.......
Now the problem lies in when is the right time to buy.
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boon, not everybody is eyeing or prepared for this recession. KLSE wont be as happening as it is today if ppl really believes that the recession will show up anytime soon.

The right time to buy is when everyone else is selling (yes, i know its a bloody cliche statement, but this remains true), and IMO, now is not the time.
Minolta
post Oct 4 2007, 12:42 AM

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I have just another tip for you.

Whatever anyone can tell you or you read from the books, there's 2 things you need in order to be a (hopefully) successful investo: -

1) Experience. You really need to get started right away. Say you're gonna go into stocks, don't just go into it immediately. Put up say 10% of your savings and use that as your "tuition fees" in the real world. You might lose most of it, but you will gain so much experience that hopefully will enable you to gain it back easily once you're confident of putting in the rest of your 90%

2) Luck. Don't take this lightly. Some people have all the luck in the world and some don't. Know yourself and act accordingly.

Wishing you a successful investment ahead.


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dreamer101
post Oct 4 2007, 12:57 AM

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QUOTE(yewkhuay @ Oct 4 2007, 12:26 AM)
correct, many ppl mention they are waiting for the market to crash then enter to sapu, then i start wonder , isn't it we make money when market is going up? (like wat most fren say : "this is the time now, market is doing well, go in b4 it crashes..."). ok, i know many will reply buy during crash price is much cheaper n wait for it to go up in few years time n earn more....

the question is :
1. how sure r u tht u r buying at the bottom of the crash. ? or it might just goes even lower after u bought....(buy even more to average up the cost?  sweat.gif )
2. how sure r u tht wat u bought will grow back , from wat i know , a few uncles still holding some few hundred thousand ringgit worth-ed PAPER which they r still waiting for it to grow back since 1997.....

and again , ur entry point may not decide ur destiny.... icon_rolleyes.gif

just my 2cents.... icon_rolleyes.gif
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yewkhuay,

1) When you ask the WRONG question, you will NEVER find the RIGHT answer.

2) If you do not know what is the RIGHT price to buy and the RIGHT price to sell a particular stock/investment, you should never get in to begin with.

<< how sure r u tht wat u bought will grow back , from wat i know , a few uncles still holding some few hundred thousand ringgit worth-ed PAPER which they r still waiting for it to grow back since 1997.....>>

3) You make money when you buy. Not when you sell. If you buy good dividend paying stock, you NEVER have to sell to make money. Why do you care what is the current stock price except to buy more?

Dreamer


yewkhuay
post Oct 4 2007, 01:24 AM

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QUOTE(dreamer101 @ Oct 4 2007, 12:57 AM)
yewkhuay,

1) When you ask the WRONG question, you will NEVER find the RIGHT answer.

2) If you do not know what is the RIGHT price to buy and the RIGHT price to sell a particular stock/investment, you should never get in to begin with.

<< how sure r u tht wat u bought will grow back , from wat i know , a few uncles still holding some few hundred thousand ringgit worth-ed PAPER which they r still waiting for it to grow back since 1997.....>>

3) You make money when you buy.  Not when you sell.  If you buy good dividend paying stock, you NEVER have to sell to make money.  Why do you care what is the current stock price except to buy more?

Dreamer
*
u got some good points there . nod.gif i agree with u and understood tht, but actually i m not asking those question for an answer for myself, i m throwing this question to ppl who r waiting to buy during the crash, if any time soon. icon_rolleyes.gif

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