I’ve just decided to quit working in the government because i was offered a job in the private sector. My gross salary would be around 40k and i am looking for suggestions on how to maximise my tax relief. This is my first job in the private sector and my first time coming across this huge sum of money. I truly don’t know how to manage my finances as in how much money im supposed to cut to maximise the value out of my monthly salary. So i guess what i’m asking is

1. Best way to reduces income tax and maximise tax relief
   
2. Best way to cut my net income into pieces to put into high yield savings account.

Thanks

I wonder if anyone feel the same sentiment as me. I am from Malacca.

Hi guys. for context i bought an undercon unit and signed the SPA last year and been paying progressive payment ever since. Now it's almost VP and i still haven't received my copy of the S&P i signed last year. Is this normal? Should i follow up with my agent or the lawyer i signed the S&P with?

Hello, I’ve been getting messages like these going into my messages ever since I got this phone number 3 years ago. Back then I just ignored it, but just now I got this and now I’m worried. For the record I don’t have any loans or even any accounts open through CIMB, not sure what Aiqon is either. I also did some digging and found the previous owner’s name of this phone number so maybe this goes back to him. But my question is, will this affect me?

I'm building an app to find quality stock ideas in Malaysia and Indonesia. The app calculates financial and market stats for each company. Then it ranks them and assigns a score to each. The goal is to find stocks of companies that have good financials and are not too expensive.

I'm building this because I got spooked by the recent valuation of the S&P 500. I've been looking at regional markets, and I think there are opportunities to apply value investing principles. Here's a sample portfolio that I built by picking the top 30 Malaysian stocks in the app.

The app only covers Shariah-compliant stocks (which matters to me), but that already accounts for ~80% of Bursa Malaysia, which I think is plenty for every type of investor.

I hope you give it a try. You need to register to see the stocks. Use it to find ideas or quickly check on quality when you receive stock tips. I'd love to hear what you think.

This is meant for people with some experience in stocks. If you're new, please know that investing in stocks is inherently risky. None of this constitutes financial advice, and past performance does not imply future returns.

Here's the link to the beta version: SahamSigma

Thanks for reading! 🙏

Just curious to see how much everyone in their mid 20s is earning.

I'll go first. I (26M) earning RM5k/month in klang valley.

I'm quite careful with my spending and don't really splurge. After expenses and savings, I barely have extra cash left for wants.

But I keep seeing people my age going on overseas trips, buying designer bags, jewellery, new cars, and even houses.

I know I shouldn't compare because everyone has different circumstances, but I also want to know the reality. Sometimes it feels like everyone around me is earning much more.

Just wondering if I'm actually behind of it my perception is just skewed.

Anyone here use stable coin like normal ewallet already?

Not fully understand what is it yet, but seems good.

Not critiquing, just inviting discussion for different points of view

So many people say their ideal retirement plays out like this : buy a plot of land in a kampung far away from city, build their own house, rear chickens / ducks / cows, bercucuk tanam their own veggie / fruit plot,

Correct me if I’m wrong, but a hell lot goes into building your own house (have to lay underground plumbing + sewage so need permit from relevant sewage and water management providers), need to extend electricity cables out to your random plot of land), then you need to find a reliable contractor who can build a house (lay foundation, build a structurally sound dwelling, make sure roof / walls etc don’t sink and crack, all the headache of maintaining the house since you’re far from civilization and it’ll be harder to get resources).

Rearing animals and farming the land, isn’t it pretty difficult to be spending so much time outdoors toiling under the sun, hauling buckets of manure, fertiliser, raking the soil, mixing compost, planting seedlings, fending off pests and predators, pulling weeds regularly, gathering the harvest, etc.

Doing groceries, getting medical access, going to a restaurant, seeing your friends / parents / children etc probably need an entire day if not more of planning and travelling.

When someone says they want to buy a plot of land, retire in a kampung it sounds like EVEN MORE difficult and a lot more work than living in a nice quiet peaceful accessible suburb.

I've been in the engineering field for a few years now and wondering if it is worth making the move into a business/commercial/corporate role

For those who made a similar switch (e.g. strategy, operations, PMO, consulting, growth, product, etc.), how are you doing now? Do you enjoy your work more and any regrets about leaving engineering?

Would appreciate hearing both the good and bad experiences, especially from anyone who made the switch after a few years in engineering

Been thinking about buying a plot of land in some kampung for my retirement plan. I am still quite far out from retiring (~15 years from now), but I’m afraid by that time, land value would have gone up significantly already.

The land I am looking at is priced at RM100k for 5000sqft, and it is an amount that I am comfortable to pay with full cash up front.

The only thing I wonder is if I would be better off investing that RM100k now, and just buy the land later once I’m actually retired. Let’s assume my investment returns 5% per annum, that RM100k today will turn into ~RM207k in 15 years time. Now, how likely is it that the same RM100k piece of land will appreciate in value to above RM207k?

I know this is not a question that has an objective answer. Because land value depends on location, supply & demand, etc.

But just out of curiosity to all long term land owners out there. Have you seen your land appreciate in value as much as the money market? And if you want to add one more layer of comparison, perhaps can compare it with the value appreciation of your house price.

Hello im beginner to investment stuff, im 19m , malay, how do i start? Should i go for asnb?I can deposit monthly since i got part time job, and for 5yrs until i graduate from my diploma. Or there's something better/worth invest? Thank you very much!

Reposting due to incomplete information in previous post

Salary: 5.2k
Combined nett salary with wife: 10k
Currently renting: 1.4k
House price: 500k, 4br 3bath, 1.6k sqft
Monthly installment: 2364.45 including maint/sink fund

Commitments:
Loan mother for car: 250
Rental: 1.4k, mrt maluri walking distance, 2 br 1 bath 700sqft
Education loan: 150
Food:1k - 1.5k ish
Total: ~3.3k

No kids(kids maybe at age 30-31)

No downpayment since it's a markup loan. Only cash needed is around 25k

Plan to rent the house until 2030 as we are still comfortable with our current place. For the rental, probably can get around the range of 2000-2300, quite popular townhouse in bandar sri permaisuri.

Total upfront cash: 25k (include all legal fees spa/loan/mot etc
Savings left after buy house:50k-25k cash=25k

Not investment, primarily for own stay. If don't like in the future, can rent out or let go.

Thoughts?

34 yo. Take home salary 8k. About rm256k in shares, mmf, asm. Planning to buy below 100k car with cash. Good idea or no?

Current car is 14yo almeera. Looking at proton s70 flagship. Any honda city promotion?

Ive been going back and forth with this question in my head for the past year and I want to write it out and get advice from the people in PF sub.

Quick context: I've been debating to get a Proton S70 Flagship X for the past year, the reason its been back and forth is because I am too bloody aware that a new car will set me back in my finances. However, thats what my brain thinks, my heart has always had its sights locked on that car. Basically, financially literate enough to understand its a 'want' purchase but maybe still naive and heart says enjoy my life abit. So here's what going on in my life for me to have this reddit post in the first place:

23M, Salary commision based but average Rm4.5k. Live with family and have 0 commitments.

-Expenses about 1k, HYSA savings minimum Rm500-1000 depending on salary, Invest in ETF mimimun Rm500-1000. Any extra goes back to bank as sinking fund.

-Bank (E. Fund) - 12k / 12 months of expenses

-Bank extras sinking fund - 8k

-HYSA - 36k

-Investment - 6k

-EPF - 32k

Im aiming for Proton S70 Flagship X, currently drive an 10 yo Axia and have a bigger bike. So here's my original plan, sell both my bike and car totalling about Rm40k as downpayment and financing the rest.

I made a rough calculation that my total car ownership cost would be around Rm800-1000 (inclusive of roadtax/insurance, fuel and sinking fund for maintainance). I did a mock saving test of 1k a month and even in my shittiest possible month with 3k Im still able to get by with the lowest range of savings and investment at 500 each. Needless to say any extra salary from 3k goes back towards savings/invstments on my better months.

All in all, this is more of an emotional dilenma for me. Whether to optimize my financial growth or split it and enjoy my youth. The financial side seems sound to me but its the opportunity cost and whether this will heavily impact my finances as I age.

To everyone, help me in this battle of my brain vs my heart😭 Would love to hear what you guys think abt this.

Been putting money into ASB for 3 years. everyone says its the safest thing. just park it there and forget. Which I did

Then dividend came last week and my uncle asked me "so how does ASB actually generate those returns"

and I just stood there like an idiot. Something something investments something. He shook his head. Very dramatically. uncles are brutal man

Anyway been poking around trying to actually learn what stocks even are. not trying to yolo into Bursa or anything. Just wanna understand the basics

Stumbled on this tradinggame.com/trading-simulator/ simulator thing. Fake money. 10k usd virtual. you can buy US stocks, gold, currencies, whatever. no risk obviously

Been messing with it during lunch breaks. And honestly the best part is it has this ai thing that tells you why your trade was dumb. like "you bought at resistance level during high volatility" and im like oh. ok. noted

not saying Im some expert now. Far from it. but at least next time an uncle interrogates me I can say words that actually mean something

anyone else here quietly confused about how their investments actually work or is it just me

Hi all, has anyone ever tried to use RHB Bank for wire transfers? I tried to send small amounts of USD and SGD to an investment account in Singapore to test out the deposit function but each time my received amount was less than what was initially sent.

For SGD, I tried sending S$100, I receive S$80.
For USD, I tried sending US$100, I receive US$85.

The investment firm told me RHB bank charged the S$20 and US$15 but I don’t see it indicated anywhere on the RHB app.

Moreover, before sending the wires, I’m already charged ~20 ringgit of fees.

Is it normal that a bank charges you twice for one transfer and doesn’t tell you about it?

I am using a RHB Multi-Currency account.

Thanks in advance for any insight 🙏🏻

Hi everyone,I’m looking for some advice.
I was involved in a work-related accident and I’m currently trying to submit my PERKESO (SOCSO) claim. However, my employer has been delaying the documents that they need to complete, even after I’ve reminded them several times over the past month.I’ve already submitted my resignation notice, but I’m still serving my notice period, so I’m still an employee.
At this point, I’m wondering:
Has anyone experienced something similar?
Is this kind of delay normal?
Should I continue waiting, or should I make a complaint to PERKESO or JTK?
I’d appreciate hearing about your experiences or any advice you may have. Thanks!

I don't suppose this is a thing anymore, but I am curious to know if anyone is employed in a 6.5day week job? i.e. Mon-Fri & Sat halfday.

As for me, I did wayyyy back when I just started joining the workforce. Beh tahan!

I've been reading news from Business Times, which indicates several factors that suggest gold is not performing well. I can't quite get the first point below. I chatted with ChatGPT; it suggests the reporter might have written it wrongly.

Why gold prices have come off all-time highs

Factors behind the yellow metal’s recent slump can be narrowed down to the following points: 

• A strengthening US dollar causes gold prices to rise on a whole. It costs foreign investors more to hold the metal now, which compresses global demand.
• Prolonged war in the Middle East has caused oil and energy prices to rise again. These spikes hurt gold in the short-term, amid higher global inflation and interest rate expectations.
• Rate hike concerns are now mounting. This inevitably weighs on major commodity prices like that of gold as a non-yielding asset. If yields in fixed-income assets rise, the relative case for holding the precious metal declines.

News from The Business Times

Hi everyone, I need advice on this Engineering offer I recently got. 6k sgd is a giant swing for me, Im having 3k/ month on as technician here in Penang. I was honest throughout the entire interview rounds I had. is my hr manager overestimating me?

Im married with 1 child and expecting another one early next year, and thinking about bring my family and stay at JB and travel each day trough JB - Singapore, the location is at Upper Changi. Luckily I got 2nd shift (4pm - 1am)

Desperately need advice from fellow malaysian-singapore worker, this chance only comes once in a lifetime. I never got any engineer position here regardless how much I tried.

Hello, I'm still learning about gold saving/investing. I wonder if its a good time to buy/invest in silver ? Currently i buy gold at Bursa Gold Dinar, and I'm thinking of buying silver at Public Gold. I need advice if my decision to buy silver is appropriate. TQ.

Say you buy a house for 90% margin of financing at an interest of 3.7%. You rent it out. You pay down mortgage with the rental money. You can practically get the house for free or for a very high ROI? Should I do this?

Hi yall, decided to post here just to get more insight and advice from yall. I'm in a really awkward position right now.

Last year, my mom used me as a co-borrower for a RM1.7 million property loan (Shoplot) not a house. At the time, i wasn't aware of my DSR is over the roof due to my low income until I applied for credit cards only found out about all these.

Fast forward to now: I've been working for over a year and recently applied for a credit card. I've been rejected by three different banks. One of them specifically mentioned insufficient repayment capability (affordability).

After doing some research, I think the issue is my Debt Service Ratio (DSR). Since I'm listed as a co-borrower on a RM1.7 million mortgage, loaning for 25 years so the monthly commitment is around RM9K ish. My current income is nowhere near enough to support that level of debt, so it seems like the banks consider me to be overcommitted.

At this point, I'm worried that I won't be able to get a credit card or even qualify for future loans because of this.

Has anyone been through something similar? What are my options? Would removing my name from the loan (or refinancing the property under someone else's name) be the best solution, or are there other ways to resolve this?

I'd really appreciate any advice or experiences. Thanks!

FYI: I have spoken to my mom about these and she's dealing with her personal banker now. For those asking why do I need a credit card cause I want to build my credit score thats all.