The best and most practical investment in Malaysia IS AN INVESTMENT IN YOURSELF. Investin your EDUCATION! LEARN! BUY BOOKS AND COURSES.
Lol no jk jk I’m not that annoying (usually). I mean, that advice is true. But still annoying.
As of time of writing (October 2020), these are the 3 most practical investments in Malaysia: EPF/KWSP, PRS and SSPN/SSPN-i.
Why these 3? Because you can get income tax relief up to RM15,000 annually, combined. Regardless whether the investment performs well or not – and this is outside your control anyway, depends on the economy and all – you will still ‘gain’ via reduced tax payment and other practical benefits uniquely offered from each of them.
Let’s go into details.
#1 – EPF/KWSP (Employees Provident Fund/ Kumpulan Wang Simpanan Pekerja)
Something exciting happened recently. On 23 July 2019, Tun M launched the National Strategy for Financial Literacy (2019-2023).
Korang. A national strategy. For financial literacy. Isn’t this amazing? I’m all for it. This is great, we needed this.
So I was browsing through the document (thanks Vincent for sending to me!) and thought, hey! There are so many financial education initiatives, many of which I didn’t know about! I should share this on RoR!
So here you go. Every single financial education initiatives under members of Financial Education Network (FEN), as of writing time.
In my previous sponsored post about retirement, I talked about the importance of saving up for retirement, because the fact is that the majority of Malaysians don’t have enough money to support their golden years.
Who best can show you the reality of retirement, than actual retirees in Malaysia? Here are 3 retirees, and what they’re doing now to financial support themselves.
Starting something new: link love – where I curate the best articles about personal finance! I also like to add the ‘personal’ part of finance in, so they are not aaallll about money. Here are the best from the web in December 2015!
This one woman regretted her RM200k wedding. I am an older sister to a younger sister who is about to get married, and I am worried that she will start her married life with loans, or seriously deplete my parents’ retirement savings just to ‘keep face’ 🙁
Which is more important – time, money or love? This incredibly personal post by Mr Stingy made me think of life. There’s no point in having money if you don’t have time or love.
I followed SpeedRent’s development with interest. Did you know that property agents gave him death threats? All because they found a way to do their jobs better. The update now is that their in-built rental agreements are legally binding. Very cool!
Techies rejoice – in this list, programmers, developers, analysts, and designers bagged 10 out of 25 best jobs for work/life balance. In Malaysia, I’m looking up to these programmers – they are behind some of the apps we use.
In 2015, I took advantage of the PRS Youth Scheme, invested RM1000, and received RM500 from the government. The scheme have since expired, but I’d still recommend PRS just for the up to RM3k annual tax rebate. Let’s put all the stuff I researched about PRS into a compilation. Hope this helps someone out there!