For non-Millennials out there, I don’t mean ‘roasting’ like cook chicken like that. I mean ‘roasting’ as in giving snarky comments.
Hold my earrings, my inner bitch persona is coming out. Enjoy this post roasting the different types of investments you can get in Malaysia.
Investment: Mutual funds / Unit trust
1) ASB and other mutual funds by Amanah Saham Berhad that’s only available for Bumi folks promote the continuation of racism in Malaysia. There I said it.
2) There are too goddamn many unit trusts products out there and who the hell has the time to check each prospectus to decide which one ‘is suitable for them’?
I got so frustrated that I pretty much eenie-meenie-minie-mo’d the unit trust I picked for my PRS account. Damn you for making this a borderline gambling activity.
3) Fund management companies slapping you with up to 6% sales fee for every transaction PLUS high management fees – you’re committing daylight robbery and you know it.
4) Funds worth billions of ringgit from EPF were channelled to 1MDB. They say that things should be fine, but nervous siot that’s a lot of our retirement money on the line!
5) Tabung Haji, primarily used by Muslims to save up for their hajj, contributes to the development and wealth of Saudi Arabia, essentially a glorified family business. They ain’t so good with protecting human rights, too.
Note: I invest in ASB and PRS
Investment: Fixed Deposits
1) Last time (before May 2018), banks will at least give you 1/2 of the interest rates if you withdraw prematurely, provided you’ve let the money sit there for at least 3 months.
Now they changed the policies – no interest will be paid at all if you withdraw prematurely.
Suck. Not enough profit is it? Must give penalty to those who have no choice but to withdraw early because they need the money is it? (Thanks to reader Mr Lim Chin Kah for telling me about this!)
1) Gold-holders kinda get happy when there is economic uncertainty and the stocks market not doing well, because then the gold price tends to go up. What a sucky thing to be happy about.
Note: I invest in gold
(Strictly referring to property as investment. Not buying property for own stay)
1) So many people buy it to rent it out as homestay or AirBnB for the higher ROI (as opposed to renting it to long-term renters). There are even groups who pool their money together to buy properties in ‘wholesale’ from developers, thus getting it cheaper.
You know that pushes property prices higher and affecting everyone else who simply want to buy property for their own stay right? Ugh, no wonder we’re in a property bubble.
1) Cryptocurrency mining uses at least twice the energy of mining gold and copper. What a waste of energy. Can’t imagine it being good for the environment! (Edit: A reader sent evidence to contradict this – see comments section)
2) Crypto bros showing off their wealth from crypto gainz – Lambo here Lambo there ugh feel like vomiting.
Note: I invest in cryptocurrencies
1) ‘Good’ stocks from blue-chip companies tend to be companies that promote consumerism as a lifestyle. Keep telling you to buy shit you don’t need.
Investment: Equity Crowdfunding (ECF)
Don’t know enough about this. Those who do it, what do you not like about it? Give me your roasts in the comments section.
Investment: P2P Lending
1) Investors are pretty much glorified loan sharks. We take advantage and profit a high 12-18+% from companies that are not able to borrow money from banks.
Note: I invest in P2P lending
Investment: ETF (exchange-traded funds)
1) ETFs are generally good but apparently the ones available in Malaysia right now not so liquid. Meaning if you buy it, very hard to sell in case you need the money.
Give me YOUR roasts for different types of investments in Malaysia!
Well that’s a lot of things off my chest! Kinda nice to rant about these different types of investments, usually you only hear good things about them. Yes yes I know no system is perfect. There are so many things still that we can improve about our financial ecosystem.
This is not an article to deter you from investing btw. You should totally do it, right after you clear off your high-interest debts and save up emergency money (3-6 months of living expenses).
We just have to make sure we’re okay with the cons of the investment type and that it doesn’t slash too much with our personal values, because if does, that’s on our conscience.
How about you? Which investments do you have and what don’t you particularly like about it?
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