Malaysia Financial Blogger | Financial Freedom Ideas | imDavidLee.Com

Gold Investment at Malaysia

As everybody now, gold investment account is getting popular nowadays. It allows you to buy, sell and keep track of your gold transaction via a passbook.

There are many banks for you tom open gold investment account. Investor can always select their preferred choice to invest in. What they need to have is just a savings or current account at the bank in order to open a gold investment account.

Gold prices hit a record high at US$1,911 an ounce last 2 months ago. A year ago, the gold buying price ranged from RM121 to RM123 and the sell price ranged from RM126 to RM128. But, at the end of August, the buyer price ranged from RM174 to RM178 while the sell price ranged from RM180 to RM185. So, the gold price has proven its strongest investment vehicle during economic crisis period.

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Invest in Bonds or Stocks in 2011?

Are you wondering whether you should invest in bonds or stocks in 2011? I can’t tell you that you should load up on stocks and dump bonds this year.

First of all, there’s no evidence that any market analyst can predict the market returns consistently for each year. If you ask 1,000 market analysts, you can’t find anyone who gets it correct for each year. So, it’s not a good idea for you to load up on stocks or bonds based on what analysts think. We should know that all of them are just guessing.

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Invest in Foreign Currency Account?

Somebody asked me before, is that good to keep foreign currency and earn interest? Foreign currency current account offers a form of savings in the currency of your choice. You are able to hold on to the currency and convert it into ringgit when necessary or when there is also beneficial to those who receive and pay expenses in a foreign currency, such as businessmen who frequently travel abroad and those who work overseas or paying education fees overseas.

The account holder may earn interest on his balance. The interest rate, if any, is generally calculated on a daily basis subject to a minimum day-end balance, and credited to a monthly basis. The rates vary depending on the foreign currency and interest may not be given for certain currencies. Also, rates are subject to change without prior notice.

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Investing Rules of Thumb

If you have been reading investing blogs then you have come across some investment rules of thumb. It is a general guideline that you can approximate a value quickly.

The number one rule of thumb is ‘Pay Yourself First’. You need to set aside your money for savings every month before using it for other purposes, including investment and etc.

The question of how much do you need to invest depends on:
• When you started investing
• When you plan to retire
• Whether or not you plan to continue working part-time,
• Whether or not you expect passive income to pay out at the rate which is currently promising you,
• Whether or not you’ll have any pension income or EPF savings

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Which Bank in Malaysia Offer Highest FD Rate?

Fixed deposit is still the most popular type of savings in Malaysia. However, with the latest inflation rate still hovering above 3%, and bank fixed deposit rates still not that high, we are actually encountering the risk of getting the real returns in this context.

Besides that, we also need to have some cashflow for emergencies purpose in the event of a financial crisis. As a rule of thumb, we should keep at least 6-12 months of monthly expenses in the form of cash before looking into any kind of investments or paying off any loans and etc.

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