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Stickied postModerator of r/MalaysianPF

What did you splurge on this month? Share some of your investments or surprise spending this month!

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3 comments
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Stickied postModerator of r/MalaysianPF

Let's talk finance. Ask questions, give advice, share tips and tricks!

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Are we heading for a recession? Seems like the whole of Asia is hit. KLCI is still above 1775 the last support formed. Hmm..

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My dad borrowed a mortgage from Perwira Habib Bank back in 80s.It's a complicated story ever since the bank goes bankruptcy.Anyone has liable knowledge about conveyancing or protection acts against reposession of our house?

I'm looking relevance viewpoints to whom I could find the assistance.Thanks in advance.

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Moderator of r/MalaysianPF

Let's talk finance. Ask questions, give advice, share tips and tricks!

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comment
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Hi everyone, is anyone here investing in the US stock market? Have a few questions here.

  1. Which broker to use?

  2. Do local brokers allow us to open a separate USD account?

Sorry if this has been asked before but I’ve tried the search bar and couldn’t find anything.

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Hi, monyets.

I'm planning to deposit around RM300 a month for savings (thrown in with interest, of course), but with the flexibility to deposit however much I want - as opposed to a "forced" savings of RM300 every month.

I signed up for a Maybank Flexi Plan thingy recently, but I must deposit a RM400 every month, and I have to stick to the same amount for at least three years - which I feel tightens my expenses a little too much.

Do you guys know of any other savings plan that's more suitable to my needs? Much thanks!

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Moderator of r/MalaysianPF

Let's talk finance. Ask questions, give advice, share tips and tricks!

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Hello fellow malaysian friends! I'm 22 and gonna graduate soon. But I don't think I'm well prepared when It comes to finances. So I'm seeking advice. Are there any resources or books that you recommend? Thank you!

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Moderator of r/MalaysianPF

Let's talk finance. Ask questions, give advice, share tips and tricks!

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comment
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Moderator of r/MalaysianPF

What did you splurge on this month? Share some of your investments or surprise spending this month!

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2 comments
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Hi can anyone simplify what is ASN and how it works??

I had bought few hundreds of units back in 2012 but when I withdraw/sell?, I actually get less then what I initially put into the account.

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Moderator of r/MalaysianPF

Let's talk finance. Ask questions, give advice, share tips and tricks!

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6 comments
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Hi,

I have recently finished reading "Unshakable" book by Tony Robbins and he talks a lot about investing in Index Funds and this is the way to invest money. However, while searching on Internet, I couldn't find anything called "Index Fund" in Malaysia. I was wondering is it called something different here?

I have checked unit trusts and they have fees that seems a little high and that is one of the reasons that Tony Robbins in his book says to invest in Index Funds rather than unit trust.

Does anyone has any information on Index Fund in Malaysia? or Which unit trust is trustworthy with low fees?

Thank you

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With my decent grades as an offering, I asked my parents if I could have my own bank account (one that isn’t for my college savings, but actual savings). I wanted to learn to be more responsible and in-control of my own money.

Surprisingly, they said yes! But they’ll be constantly monitoring it, since I’m above the age of 13 but not 18 yet. I’ll be using this savings account to buy stuff without having to ask for my parents’ card, just their permission (plus, face the consequences of using my own money.)

I’ve read up on Maybank’s imteen account but it seems that I can’t do third-party transfers? Hong Leong’s 3-in-1 Junior account doesn’t have any info on transferring. Is there any bank that allows teenagers to transfer to third-party? Or at least, is there a bank that’s good enough for a teenager’s first account? I would be grateful to hear your thoughts, since I’m completely inexperienced.

TLDR; looking a for a bank for a teenager, preferably that has access to third-party transfers

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Moderator of r/MalaysianPF

Let's talk finance. Ask questions, give advice, share tips and tricks!

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comment
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Long story short, I bought a house in Connezion Putrajaya, left Malaysia for overseas studies, forgot/didnotgetenough to pay the loan amount for 4 months, was contacted by the bank saying my interest rate is now BR + 6.5% which brings my monthly repayment at the moment from 2.2k-3.4K to 6.6k a month

And I haven't even got the house yet since it's still being constructed. Anyone know if there is a way I can get back the BR interest instead of the high amount imposed? I was told that I would be paying this 6.6K for the whole tenure of 35 years, meaning I'm actually gonna be paying triple the loan amount at the end of the tenure (which is way more that what the house is worth)

I have told the bank I am willing to settle every outstanding within 2 weeks. Any help on that?

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Title.

All I remember is the group needs you to have a proper profile picture to join.

Anyone has any idea?

Thanks

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Sharing this writing competition - ringgitohringgit.com is looking for personal finance-themed short story submissions. Paid contest

Theme: Personal finance - fiction and non-fiction Dateline: 15 August 2018

Full details: https://ringgitohringgit.com/writing-competition/

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Moderator of r/MalaysianPF

What did you splurge on this month? Share some of your investments or surprise spending this month!

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3 comments
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Hi all,

I am from the UK and my dad has asked me to assist him with his finances over in Malaysia as he wants to see if he is currently getting a good deal.

Whilst I am a regular lurker over on /r/UKPersonalFinance I probably do not have the best knowledge of the going rates and products over in Malaysia - hence seeking some advice!

The situation from what my dad has informed me is as follow:

  • Currently my dad has a 250,000 MYR lump sum
  • In a fixed deposit account with access earning about 3.14% interest a year
  • Does not want to add any more money to this lump sum from his salary
  • Plans to use this to fund retirement
  • Retirement plans - maybe another 8 - 13 years let us say
  • Currently he uses the interest to pay for his outgoings and bills over the year (amounting to roughly 6,400 MYR a year, spread across the year)
  • Low risk - scared to invest

Any other questions, please let me know and I will check in with him.

Now, from what I can see online there is potential to earn a bit more interest with other "time deposit" accounts, up to 5% but again, I dont know the whole situation economy wise over in Malaysia or if we can do better.

So I guess my question to you all would be, what would you recommend based on the situation provided above?

In terms of just some of the basics from my point of view I would tell him:

  • Leave all the interest alone, let it compound - Use salary to pay for bills or the fund will grow much slower
  • Even if scared, invest a small portion into an ETF or fund with a low fee (any recommendations for platforms?)
  • Move over to a higher interest product (any recommendations?)

Cheers

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So basically, I just turned 18 a few weeks ago, and I have some money I want to spend online, I currently do not have my own credit/debit card. This may be a bit off topic to this sub, but one of my previous posts on r/Malaysia got closed because it wasnt in the right sub. Anyways, can I topup at some 7-eleven or some other place?

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A /r/malaysia branch. "Get your financial house in order. Learn how to better manage your money and debt in both the short and long term. Find out how to save an emergency fund and invest for your future." -/r/personalfinance Here, we do it the Malaysian way la of course. Instead of Roth IRA, Vanguard and suddenly having millions of USDs, we'll be using RM, talking about RON95, inflated pricetags on real estate, prices of kangkung, EPF, GST, which bank/credit card? etc.

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