Category: ABCs of Personal Finance
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Personal finance 101. Salary from KL. Property from Selangor.
As per Department of Statistics, Malaysia, the median salary of someone working in Kuala Lumpur is RM10,549 while the median salary for someone working in Selangor is RM8,210. That means one would earn up to 30% extra per month if one were to work in KL instead of Selangor. Just need to note that this…
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Our EPF returns over the years?
This statement has been mentioned to me many times by many different people. In actual fact, EPF has given me one of the best returns for many years and for recent years, the returns are higher than my FD returns and higher than the home loan repayment interest which I have to pay. There’s no…
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Startups: Focus back on fundamental; profitability and not subsidy.
I have been investing for the last 24 years I think. I started buying unit trust way back in 2020. Haha. I continue to be invested in the stock market and the amount remain substantial. I do NOT look at my stocks every minute, hour and day. Call me lazy, call me busy or even…
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RM240,000 is the minimum we need to have in EPF when we retire
If this is a question for me, “Should I withdraw my EPF before 55?” My answer is a simple one, NO. My main reason is because EPF savings is really for post-retirement, when our active income has stopped or has gone down significantly versus the time when one was still working full time and thus…
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Personal Finance 101: 5 things that could happen when we have extra money
It’s the beginning of the month. Salary has just been credited and we have just withdrawn a lumpsum amount of money and all the notes are now in the wallet. Okay, perhaps these days the younger ones do not need to siwthdraw money. They just need to load their e-wallets. Whatever way you chose, it’s…
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Inflation – it’s really inflating at the moment. What about yours?
Inflation – it’s really inflating at the moment. What about yours? No one can escape inflation I was speaking the other day under the invite from OCR Group Bhd and I said that inflation is something we could not escape from. Sorry, somehow I heard someone saying that the government should do something about it…
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Interest rate will go up further in Jan 2023
Maybank IB says that it’s possible for Bank Negara Malaysia (BNM) to increase the rate by another 25 basis points. It’s 0.25%. If we are thinking of buying a home or even paying for a mortgage currently, what’s the impact of this potential 0.25% rate increase? For a RM500,000 home and a 10% deposit, a…
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EPF Malaysia says RM600,000 needed to retire comfortably
Many years ago, a good friend said that she would need RM2 million to retire not-so-comfortably. That’s many years ago, probably she would have changed the retirement fund aspiration higher. Well, the Employees Provident Fund (EPF) says that Malaysians should have at least RM600,000 in order to retire comfortably in major cities. I read through…
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Fixed Deposit rate will be higher now. Happy?
Okay, when our Bank Negara Malaysia (BNM) increased the Overnight Policy Rate (OPR), then the banks would adjust their lending rates as well. At the same time, depositors will also get higher returns too. BNM just increased our OPR by another 25 basis points which is 0.25%. Our new OPR would be 2.75%. The ceiling…
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Get ready to LOSE a lot of our money because of inflation
Recently, it has been revealed that many developed countries are suffering from double digit inflation and that’s one major reason why they kept increasing their interest rates in order to tame inflation. One example is the U.S. The interest rates have been raised to the most current 3.8% from an average of 0.9% in 2020.…
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Why buy property? Better save RM1 million instead
Recently, it has been revealed that many developed countries are suffering from double digit inflation and that’s one major reason why they kept increasing their interest rates in order to tame inflation. One biggest example is the U.S. The interest rates have been raised to the most current 3.8% from an average of 0.9% in…
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Old and poor is not a good idea. Please take care!
Old and poor is not a good idea. Please take care!