r/MalaysiaPF

I am currently a uni student who have saved up to about RM30k. I realised that keeping this money in my bank account and letting it rot is a terrible idea. I love seeing big numbers but im slowly losing value to inflation. Just wanted some advice on what to do with this and what to invest in. My goal before grad is to save up and earn rm100k (3years). pls advise! I don't have any experience in investing so pls explain as if ur explaining to a kid haha

my only experience on things like these is that my dad always helped me to invest some of my pocket money savings back in the day and i get like dividends every quarterly. idk what is that tbh.

also, i am thinking of starting to use moomoo bcs my friend said he is getting quite a lot of money investing . but then my dad said he wanted to ask a friends friend to create a brokerage acc so that when stocks bought they will be in my name instead of using like moomoo. but then moomoo has perks if u use it invest/deposit so idk whats the point. any suggestions pls

edit: most of my savings come from my part time job (teaching, about 500 a month as i only work during weekends as i am a full time student) and trying to save my monthly allowance (1k).

Well.. baby is 6months now and realising that raising a kid is really expensive.😂
I want to start saving for my baby’s future (education, etc.) right now so they don't have to struggle like I did. What’s the go-to move for Malaysian parents nowadays?
Is SSPN-i still the best choice? Or any suggestion?🫡

Hi abang and kakak. Recently I just got an offer to work in SG. It's a big MNC in semicond industry. As of now, i work as a process engineer for bout 3.5 years purely in semicond. In term or career progression, is it okay if i downgrade myself to work as assistance engineer in SG rather than continue work as engineer in MY? If I decided to go work in SG, later i go back to MY can i still work as engineer? What's your take on this? Huhuhu

I joined a company on the 6th last month. HR told me I would get paid around the 7th/8th to get paid since I joined late. On the 7th I asked HR “Will I get paid today?” They said no it takes 1 month and 1 week for new employees. Which is different from what they told me on my first day. Is this legal and normal? To be informed so last minute when I was expecting to be paid on the 7th is really frustrating. I could have planned my finances better if they told honestly when I was going to get paid.

Hi I plan to invest rm200 monthly in one of the unit trust funds via fsmone, which funds should I recommend for low risk investment for beginner, tq

I’m Malaysian. If I’m considered unemployed in Malaysia (don’t have income paid from a company) at the moment, can I sign up for KWSP EPF I-Saraan?
Was told to do this by a someone for the $500/yr

Hello, as the tile suggests, I’m looking for travel insurance that can cover pre existing illness. It’s specifically for my dad who went through a heart surgery 5 years ago. He is well now but is still taking medicine. So according to insurance definition, his heart condition is considered pre-existing illness thus not covered.

I searched high and low for travel insurance that can cover pre existing illness but couldn’t find any. Tied asking both google and ChatGPT but could not find a provider that covers.

Anyone knows of any? Thanks!

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So my sister wants an EV. Its been a string of good luck or she knows something I don't and i find out about this and banks aggressively pushing the last of their rule of 78 with good rates.

Question is, she asked for my advice if she should wait. I feel like the new EIR will be higher to offset the loss of profit from recurring balance mechanism, but that transparency also means banks will have to be competitive with their EIRs since everyone can simply compare EIRs. But the banks will naturally protect their bottom line first.

I do think that variable would work out better long term since our OPR is near the peak and actually trending down (the gamble for next 8 years). But an aggressive fixed rate currently banks push may render the need to wait moot.

My sister is probably the borrower banks dream of. She has healthy credit and salary, and works for the government and is amenable to direct salary deduction via BPA if she can get better rates. She also can absorb the interest rate with her current investments (ASB, etc)

I feel like she can do better from what banks offer her now.

What is the gold standard for the rates now for government servants?

Hi, I am 24 and have 40k saved. Right now I have 32k in VWRA and 4k in ASB1 with the rest in maybank/tng go.

I earn 3.5k after deductions and I live with my parents so I don't have many commitments. Currently I contribute to groceries, some outside dinners and TV subscription. For myself I pay petrol, toll, car servicing and date nights. For this I allow myself 2k monthly, which I won't necessarily spend but any savings go towards wants and my hobbies.

So, each month I will save 1.5k and going forward, I want to maintain 90% VWRA through FSMone and 10% ASB1. Do you think this is okay? More to ASB? Is it worth self contributing more into EPF?

I do know I should have an emergency fund but I can rely on my parents for any sudden emergencies and I feel the money in these accounts are rather liquid.

Thanks in advance.