With current economy and political situation, many people been wondering what next…
Some people are tightening their belts, some take risk to to invest so to make extra income. We are asking how some people get rich and enjoy comfortable life. We wonder how secure it is to invest in public mutual. We are looking forward to see if year 2017 really the time property price will plunge to the bottom.
We are lucky that one of our reader, Julie Yew, she did her own research, compiled and now shares it with us. Below are a few real stories related to money she has come across lately and wish for all of us to know.
1. Middle Class Couple In Early 40’s
For fear of earthquake might hit Malaysia one day, they don’t believe in buying extra property for investment. They thought if public mutual only cost around rm700/month maybe is a choice yet they have been doubting the interest/ return since it is non-guaranteed depending on actual market performance.
Upon checking with few friends who has been buying mutual fund, considering 1MDB scandal, political issue, speculation of next election, budget 2017 and banks are closing down branches, it is best they put the plan on hold.
2. Airbnb in KL
For 2013 to 2014 I witnessed some friends been making good rental return for renting out condo on daily basis. Started year 2015 the profit has gone down due to over supply of condos. This year is worse whereby everyone is throwing prices. A condo with 2 rooms could fetch rm330/day. Now everyone is trying to break even by offering prices below rm300.
3. Ponzi Scheme – Nanning Investment
Witnessed group of people who are really in financial drought. They know the risk is very high on this investment yet they go ahead playing the game. So far so good they have been profiting.
Two reasons people are daring to join :
- no way out worth the risk
- greed – lawyer..dentist..doctor..etc. They have extra money to gamble away.
4. Property Rental Gain
My neighbour is an Indian woman, former government servant. She invested in 3 properties namely 2 units of landed house in bandar utama 4 & 11 and a double storey in damansara jaya in the 90s. Now she is collecting good rent every month as expenses.
What Do You Think?
Those findings are made by Julie and we know you have your own list too. Please add more to the list of what should we do with our money for 2017, as we all want to prepare ourselves for the wave.