pidm Archives - Ringgit Oh Ringgit

According to the Department of Statistics Malaysia, the T20 in this country received 46.2% of overall income share in 2016, while the M40 and B40 received 37.4% and 16.4% respectively.

Image credit to DOSM

Looking at the statistics, you can’t deny that rich Malaysians must know something that the rest of us don’t. I mean, the top 20% can’t have gotten almost half of all the income in Malaysia by accident.

I am greatly fascinated by the money mindset that the rich have. Not their lifestyle, mind you – looking rich is not the same as being rich – but their mindset: what they learned from their parents (if they were born rich) or from life experiences (if they worked hard to get there).

Here are some things that I’ve learned about rich Malaysians.

#1 – They buy time

When Perbadanan Insurans Deposit Malaysia – PIDM for short – contacted me about doing a paid collaboration, I was confused. Unlike other sponsored post inquiries I get, PIDM has no products or services to sell. If anything, their services are (1) free and (2) automatic.

Then they told me their reasons. They’re to:

Promote awareness on PIDM’s protection services so that people are assured that their deposits, takaful and insurance benefits are safe;
Inform which financial products are protected to prevent scams by unscrupulous parties, and;
Let people know what they should do IN CASE their banks, takaful and insurance companies go bankrupt (stay calm, see #3).

So apparently – and I didn’t know about this before – there are people out there who scam your family and friends because they don’t know about PIDM?? That is horrible! And this is why PIDM wants to tell the public who they are and what they do!

So I said yes, and together we created this plain-English article about what PIDM does.

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[SPONSORED] What Rich Malaysians Do With Their Money (That You Don’t)

#1 – They buy time

[SPONSORED] What Does PIDM Do and Why Should YOU Care?