Your videos are so helpful for navigating confusing investing jargon! Thanks for being straight to the point in your videos. What are your thoughts on using money market funds to store emergency savings since they are liquid and offer higher returns that FD as well?
Thanks Nicholas, glad it was helpful! Actually, stashaway simple IS built as a money market fund, but they make it more accessible, transparent and less confusing than traditional banks, their projected rate is also pretty competitive. Some banks still have minimums on MMF I believe, but not all. You can still go for other money market funds but I prefer SA Simple mainly due to convenience as I am already invested in their other products.
Great video! I think fixed deposits returns are so low nowadays that, assuming money is put in significantly long enough, and taking into account inflation (annual inflation rate from 2010-2020 is around 2%), returns may very well be rendered to be really small (or perhaps losses may incur too)
Thanks! Precisely, and if you consider inflation losses and opportunity costs of putting your money elsewhere for higher returns its even worse, so its rarely worth it imo.
Enjoyed your video!!! Have you tried withdrawing from Stashaway Simple? would like to have some suggestion keeping some short term savings (less than a year) in it.
Hello, thanks! I've yet to withdraw from stashaway simple but it shouldn't be an issue, they stated that it will be processed within 2-3 days, so just keep that in mind
Hello, at the moment stashaway Malaysia is only for Malaysians. However, you can sign up for stashaway Singapore, they are open to foreigners and is almost identical :)
Hi gorgeous, I'm interested to hear from you again. Thank you for helping. I did subscribe and Like to all your channel/videos ☺️. Regards from Sarawak East Malaysia 🇲🇾🥰
Hi Swan! Thanks for all your videos, they've been really helpful to us in Malaysia. I recently just managed to save up 6 months worth of expenses stashed away in Maybank savings and Alliance bank savings at the moment (yes, terrible returns, that's why I'm scouting around for options that will grow it, rather than be eaten by inflation). I plan to put half of it in ASB and the other half in an FD like Frank OCBC. I require a combination of liquidity as well as good returns (to avoid inflation). What are your thoughts on Frank OCBC?
Hello, thanks, and congrats on 6 months emergency fund :) Personally, I'm not a huge fan of the Frank account, to me the interest is not great and it doesn't really offer much else except liquidity.
It's very difficult to buy, but if you queu at lower purchase quantities at a time you'll have a better chance. For me, I don't see a significant advantage over the epf other than liquidity, the returns are similar. So I don't personally invest in it, and rather seek higher returns elsewhere
yup of course, you could enjoy better return. yesterday i just park my money to MBB fd for 6 months tenure, today transfer again for 2 months haha cannot missed their 10 days promo 😂
I think the conventional reason of picking fd is that you can never lose any money, and returns are guaranteed (although very low). Pidm insures your money up to 250k per bank account in case the institution you store money with goes bankrupt. If you think there is a high chance of bankruptcy then it is important, but think about how likely this will happen, and you'll have your answer
The insurance is for worst case scenario (bank failure), but such a failure is quite unlikely. The only issue with putting a large amount of cash in bank accounts is that you're not earning much from it, might as well put it to work (an option for risk adverse ppl is to put into epf - capital guarantee and 5-6%pa return, you can put 60k into epf annually)
I'm a highschool student and the dual language math book thought about fixed deposits, at least now I understand the concept of it
Your videos are so helpful for navigating confusing investing jargon! Thanks for being straight to the point in your videos. What are your thoughts on using money market funds to store emergency savings since they are liquid and offer higher returns that FD as well?
Thanks Nicholas, glad it was helpful! Actually, stashaway simple IS built as a money market fund, but they make it more accessible, transparent and less confusing than traditional banks, their projected rate is also pretty competitive. Some banks still have minimums on MMF I believe, but not all. You can still go for other money market funds but I prefer SA Simple mainly due to convenience as I am already invested in their other products.
Great video! I think fixed deposits returns are so low nowadays that, assuming money is put in significantly long enough, and taking into account inflation (annual inflation rate from 2010-2020 is around 2%), returns may very well be rendered to be really small (or perhaps losses may incur too)
Thanks! Precisely, and if you consider inflation losses and opportunity costs of putting your money elsewhere for higher returns its even worse, so its rarely worth it imo.
Thank you finally found a helpful video ❤
this is just what I have been looking for. Ty so much
No worries and thanks :)
Intelligent and drop dead gorgeous!
You are too kind!
Enjoyed your video!!! Have you tried withdrawing from Stashaway Simple? would like to have some suggestion keeping some short term savings (less than a year) in it.
Hello, thanks! I've yet to withdraw from stashaway simple but it shouldn't be an issue, they stated that it will be processed within 2-3 days, so just keep that in mind
@@SwanThinks Noted with thanks! :D
Is it possible to invest for foreigners who stays in Malaysia? In stashaway
Hello, at the moment stashaway Malaysia is only for Malaysians. However, you can sign up for stashaway Singapore, they are open to foreigners and is almost identical :)
You try to give the video more brightness it will be great if you do
Hi gorgeous, I'm interested to hear from you again. Thank you for helping. I did subscribe and Like to all your channel/videos ☺️. Regards from Sarawak East Malaysia 🇲🇾🥰
Thanks so much! Been swamped with my day job and hoping to pick up again on videos if time allows :')
Hi Swan! Thanks for all your videos, they've been really helpful to us in Malaysia. I recently just managed to save up 6 months worth of expenses stashed away in Maybank savings and Alliance bank savings at the moment (yes, terrible returns, that's why I'm scouting around for options that will grow it, rather than be eaten by inflation). I plan to put half of it in ASB and the other half in an FD like Frank OCBC. I require a combination of liquidity as well as good returns (to avoid inflation). What are your thoughts on Frank OCBC?
Hello, thanks, and congrats on 6 months emergency fund :) Personally, I'm not a huge fan of the Frank account, to me the interest is not great and it doesn't really offer much else except liquidity.
Hi..thank for the insightful content..
Btw, what do u think about variable amanah saham?
Fixed price so hard to buy..
It's very difficult to buy, but if you queu at lower purchase quantities at a time you'll have a better chance. For me, I don't see a significant advantage over the epf other than liquidity, the returns are similar. So I don't personally invest in it, and rather seek higher returns elsewhere
Thanks for this great guide, but is it better to have many fd acc?
yup of course, you could enjoy better return. yesterday i just park my money to MBB fd for 6 months tenure, today transfer again for 2 months haha cannot missed their 10 days promo 😂
@@aizataziz Ohh really, how much is the interest rate ya?
MBB offer 6 months @ 3.85%, 4 months @ 3.50% and 2 months @ 3.50% with minimum placement of rm5000
Okay thank you. How to apply ya? Need to go to nearby branch? I never have any account with MBB before tis.
WHAT ABOUT INVEST IN GOLD .HOW WE CAN INVEST???
Wow 3% fd rn sounds really good compared to two years ago 😂
Hmm, I thought the whole point of using FD instead of other investment assets is because of PIDM. Is PIDM really necessary?
I think the conventional reason of picking fd is that you can never lose any money, and returns are guaranteed (although very low). Pidm insures your money up to 250k per bank account in case the institution you store money with goes bankrupt. If you think there is a high chance of bankruptcy then it is important, but think about how likely this will happen, and you'll have your answer
Just a heads-up, SA Simple is no longer Shariah-compliant.
I appreciate your videos, thanks for making them :))
Yes I saw the notification on stashaway. Thanks for the heads up :)
Thank you. It so helpful.
Thanks, glad it was helpful :)
Thank You 👍🏻👍🏻👍🏻
Thanks as well :)
Good job
Thanks!
How much is the maximum amount that we can keep in a bank?
Not sure if there is a maximum, you can place many millions, but you are insured up to rm250,000 per bank by pidm for any deposits.
@@SwanThinks so you mean it would be safer if place until rm250000?
The insurance is for worst case scenario (bank failure), but such a failure is quite unlikely. The only issue with putting a large amount of cash in bank accounts is that you're not earning much from it, might as well put it to work (an option for risk adverse ppl is to put into epf - capital guarantee and 5-6%pa return, you can put 60k into epf annually)
@@SwanThinks is there any chance that those FD interest rate percentage will increases ?
Yes, the fd rates are tied to the overnight policy rate set by bank negara, which is reviewed several times in a year.
Fantastic
Hey thanks! :)
the sound is not good I am quite disappointed
Yeah my mic needs an upgrade, thanks for pointing out :)
You try to give the video more brightness it will be great if you do
Will work on it!