Let’s be frank.
This method won’t get you rich by 2020. But it sure help a lot when you reached 55 years old. You’re all set for a wonderful retirement and your kids won’t have to apply loans for their education (hmm..speaking for myself) ;(
I admit, I’m at this rate where I’m eager to expand my wealth. I’ll go extra length to ensure that happen. I have huge ‘need’ appetite, but shamely, a thin wallet. The last thing I want to be is a money slave and die pauper. So I have to react now. And I have to react fast. Pronto.
They say it’s good to put aside 20% of your salary as saving. I say, why not more? 😉
Forget vacation, new shoes and fancy handbags for a little while. When you embark on this investment journey, you can’t help but feeling good about yourself. It means that you care for your future and your loved ones. The seeds may take years to mature, but the fruit will surely tastes sweet.
Step 1: Go to any approved EPF fund managers (I’d vote for any ASNB counters as they’re well-proven safe). Smaller dividen, but safe.
Step 2: Open up an account with a bare minimum RM100.
Step 3 : Fill up the “saving withdrawal” form for EPF withdrawal, which allow you to draw a 20% from your account 1 minus the ‘basic saving’ – say, you have 30k in account 1, and the required ‘basic saving’ stipulated (according to age) is 12k, then your free balance would be 18k. you can invest 20% of 18k (about 3.6k) into any funds of your choice – approved by EPF, of course.
Step 4 : You may top-up every 3-months’ time (minimum saving is 1k and rule above stil applies) and you can’t withdraw the money until you reach 55 y.o. (works the same as EPF, only you enjoy greater dividend and bonus rate)
You basically do nothing until your grey hair started to show on top of your head.
You’ll enjoy a vast amount of discrepancies in interest rate (EPF = 4.5%, ASW = 7.5%) just by doing nothing. Good enough a deal?
OK, we’ll talk about getting rich in a slow phase later. Remember, patience is virtue 🙂