I attended a seminar at KL titled 'Financial Freedom in you ‘. One of he speaker was chief AKPK counsellor. His salary is about rm20, 000 / month. From a poor family, he becomes a successful person. He always gives advice to others people even at mamak restaurant at maju junction. In his speech, he suggests that we must divide our salary to 3 parts. 1/3 for liabilities, 1/3 for expenses, and last 1/3 for savings, emergency & retirement (use for 40% in equity, 40% bond, & 20% saving)
He also talks about a variety of investment. Do not put all into 1 basket. He told us about his experienced, where he bought a low cost house at PJ in 1980's. How he made a selection? The area must have appreciation value, is it lease hold / freehold, and high rental.
Lucky
He bought the house at rm60k at that time. the house was in chinese and indian community. he rent it to one doctor at rm3000/month.the doctor put his 2nd wife at that house. For about 2 years. After that, rent it to other people like bangla at rm2000. (20 bangla in the house)... lastly, after 15years, he sold the house at rm400, 000. huuuuuuuuu the audience so impressed with the story.
He also invests in stock market, but in IPO market. he bought his 2nd house (288k) with the gain in IPO investment
Other than that, he also invests in ASN by using staff loan at 2%p.a. But ASN gives about 10%p.a.
Planning is important.
He target at age 40 he will go to Mecca
Retirement.
He said, our child will not help us in our golden ages because they will have their own lifestyle. We must prepare our self from now.
