Note that I didn’t name this article, Best Places to Invest Money in Malaysia. It’s Best Places to Save Money in Malaysia. Emphasis on saving money. All the options in this list MUST either be cash or can be quickly converted/sold into cash without losing much value. In investing-speak, we call this ‘liquid’.
According to Google image search, ‘liquid investment’ is also a tap that drips dollar signs, coins and banknotes. I can confirm this depiction is 100% accurate.
With that clarified, let’s go ahead and rank the best places to save money in Malaysia. The ranking order is decided by myself, but let me know if you have opinions – open to compelling arguments.
#1 – Mutual funds, unit trusts and roboadvisory platforms without withdrawal fees or ‘locking period’
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.
As someone who keeps gold and regularly checks the price, I thought I’d cover the gold price movement in the last decade. Here’s what happened to gold prices between 2008 until mid-2018. Think of this article as an explanation of the 10-year historical gold price chart below.
For the benefit of this article, I’ll use price of gold per gram, not per kilo. Most people track the price that way anyway (unless they’re from the US, in which case they use ounces).
If you’re keen to collect something, why not collect gold coins and gold bars? They tend to appreciate in value in the long run. If you get bored of your collection or need money, you can resell it and get back what you paid (and perhaps more than that). You can’t say the same for most other collections.
In this collaboration post with buysilvermalaysia.com (which actually sells a lot of gold too despite the name), we would like to share some interesting gold coin and gold bar designs for your visual pleasure. Your inner pirate will appreciate this.