This is a follow-up to my Bitcoin FAQ article. You need to understand bitcoin first before diving into other types of cryptocurrencies. If you have not read that, you might find this confusing, so read that first.
This article looks at cryptocurrency and altcoins from a more ‘investor’, rather than ‘tech’ point of view. If any info here is wrong or outdated, please let me know by commenting.
My relationship with Islam the religion may be complicated, but I’m ALL for Islamic finance. During Securities Commissions Malaysia’s SCxSC 2019 Fintech Conference event, someone said Islamic finance = ethical finance and gosh, that’s it, that’s why it’s always been appealing for me.
I love the underlying values behind it, like how usury (interest) or riba is completed prohibited, and how excessive risk-taking or gharar is not encouraged.
Conventional finance can be so predatory – yes, predatory – and I love how Islamic finance and banking is structured in a for-the-good-of-all way, even though admittedly things are never perfect in practice.
When it comes to Islamic investments, I admit I do have a big preference to Syariah-compliant investments. Not ALL of my investments are halal, but most of them are. I’m a work in progress, as we all are.
Throughout the years, I’ve made my notes when it comes to Islamic investment options in Malaysia. It’s far from comprehensive, but it’s time to share it with you. Hopefully it’ll help.
In this article, I’m going to give you a condensed but concise pros/cons list of five of the most popular investments in Malaysia: fixed deposits, mutual funds/unit trust, stocks, gold and properties/land. I’m also going to give you the tried-and-tested strategies that work well with each type of investment.
Why these five? Simple – because the overwhelming majority of us will start our investing journey with one of them first.
The other day I was listing out all the financial tools that I personally use for money management in my notebook, and the list got kinda long.
That got me thinking – all of you must have your own money management system, right? Even if it’s in your head, even if it’s messy. You know, more or less, that the money in account X is for daily use and the money in account Y is earmarked for, say, retirement.
So here you go – an article compiling all the financial tools I use for my own money management. Please don’t @ me if any of them sucks for you – they’re just the best option for my situation right now – I’m not loyal to any of them and happy to switch to better solutions as and when it suits me. Also please don’t take anything here as investment advice.
The financial tools are arranged in this order:
International money transfers/payments
Other accounts with money inside it
Just to maintain some sort of neutrality, this article itself is free of referral links, but related articles and embedded social media posts may include links.
There are many things I love about Islam. But the default faraid laws or Islamic inheritance laws is not one of it. Islamic inheritance laws stipulate that male relatives shall receive at least twice the amount of female relatives (of equal standing). The determinant factor is literally… genitals.
Islamic Inheritance Laws is Not Fairly Implemented and That Sucks
In November 2018, I attended a digital marketing bootcamp where I learned about the many types of martech tools. For example, chatbots which reply to people who type ‘pm’ in Facebook posts. Platforms connecting companies with influencers. Automated video creation tools. And more – I’m barely scratching the surface here.
Martech is fascinating to me for a few reasons:
It’s quite fun to go to a company’s website/platform and see what kind of martech tools they are implementing. Last time, they used to prioritise collecting emails. Now, I’ve received promotional updates via Facebook Messenger too! (I hate this btw, so invasive, any company that does this will not get my money)
Which martech tools can *I* use for my own websites? I’m constantly trying out new ones, hoping to find the perfect free+good combinations. Many martech services use subscription-based models, and they can get pretty pricey.
Learn about martech. If you’re a business, it’ll help you make/save money. If you’re a consumer, you’ll be more aware and therefore less susceptible to strategies companies use to part you with your money.
Want to know a secret? Everyone makes mistakes during our investment journey. Sometimes we pay too much in fees because we didn’t know better, sometimes we try to time the market and it didn’t work, and sometimes we trust the wrong people and get sucked into some shady Ponzi scheme.
I made plenty of mistakes myself, like the many, many times I tried to time the market but it went on the opposite direction (WHEN WILL I LEARN?!?). But this article is NOT about those kinds of mistakes. I don’t mean losing money when the market is not in your favour. Fluctuations in price and value is normal and even expected for some types of investments, like properties, gold/precious metals, things like that.
This article is about the times where I lost ALL of the money in the investment. Here they are, compiled in one post.
I spent RM21,407 in October 2018. It sounds like a lot (it is), but almost three-quarters of that was a gift to my parents. I’m sponsoring their umrah trip.
When I was growing up, I heard how my parents – then newlyweds and financially struggling – saved a portion of their salaries every month. They told me the bottom of their car had a hole in it, and they didn’t even buy a bed until much later and simply slept on a thin mattress on the floor. They saved aggressively so my dad could afford to send his mom, my late grandmother, to hajj.
My parents have already completed the hajj, but they constantly talk about going back to Mecca so sponsoring their trip has always been in my bucket list. In October 2018, I transferred over RM15,580 so both of them could go for their umrah next year, in January 2019, under Tabung Haji. My mom was so touched, she cried. I feel happy knowing that my money can give them this kind of happiness.
What do you save up for your parents? Is there something you know for sure they’ll appreciate?
Here are some types of investments that I have: mutual funds/unit trust, gold and crypto.
This article is all about investments I don’t have yet, but always been curious to try. I may or may not proceed with one or any of them in the future. It’s just to show you what I’ve done about them so far, and why I didn’t proceed with them yet.