Anonymous asked 10 years ago
Hello KCLau,
I read about your articles and comments on KCLau.com by accident when I was looking for information on how to invest in foreign currency exchange. As I mentioned above, my question evolves around the circle of how to invest money and what is the right investment that fits my age. Stocks and Forex are not for me I think due to my moderate risk tolerance and lack of education regarding these matters.
Currently, I am working in the education sector as a french language teacher (for 6 months now). In December last year, I made a bank loan to purchase a car after accumulating enough deposit. As a fresh graduate, I am aware that money matters and I would like to plan for my retirement in order to make sure I have enough saving before calling it a day as a professional. FYI, I can save RM 300/400 per month starting this year. Recently, I went to Maybank branch to apply for the ASBi Loan (RM 80k, monthly payment RM 528 for 25 years) as an investment. Some said that this type of investment is not good and I am unsure if I made the right decision. Currently, I am waiting for my loan to be approved by the bank. Should I continue with the ASBi Loan or should I just save RM400 monthly in my existing ASB account? I have RM 11k in my ASB account with more or less 7% of dividend every year.
On the other hand, since I am looking forward to further my studies in Masters and PhD level, I think that I need extra investment that can produce income during that time. Gold came across my mind actually but when you reveled in your video (youtube) that gold is actually not an asset, I keep that idea aside. Thus, I seek for your help and advice on managing my money for the long run.
Thank you very much. I am looking forward to receive your reply.
Have a good day,
Leeky M