Wanted some opinion on finance related topic.
I'm 27 year old male, non-bumi. Getting married next year.
Monthly Income: MYR 14,000 (salary before deduction) + MYR 1,500 (2 property rental income)
I have opted for higher KWSP contribution (17%) making my net salary around MYR 10,000 + rental, i have a cashflow of RM11,500.
Commitments :
- Home loan (3rd property bought for ownstay&future) : MYR 3,700 loan + MYR400 maintenance
- Fix monthly spend : MYR 1,000 (Insurance/PTPTN/Phone bills/Subscription)
- Food & Entertainment : MYR 1,500
Nett Balance : MYR 4,500
Currently my KWSP is at MYR 300,000, i have dump a significant amount of savings in there.
However just early this year I started investing into ETF based in US. Mainly focusing on VOO/SPMO/SMH/QQQ. MYR 1,000 for each of the ETF monthly.
I Notice the ETF are doings very well, and based on average returns over past years i believe it can generate 12-14% annual returns.
Wanted some oppinion should i reduce my KWSP voluntarily higher % and use the extra cash and pump it to ETF.
I understand that KWSP is low risk but since i'm young, i believe the risk is acceptable.
I have an emergency fund of 6 months worth expenses kept aside as well in a high yield savings accounts (RYT Bank)