In this net worth series, I will share the net worth that a person in an age bracket (by decade) should have. We will start with a person in the 20s. Data source Before we begin, let me explain the sources of my data. As I could not find the exact data for Malaysians’ net …
Market condition KLCI closed at 1,596.68, an increase of 1.31%. S&P500 closed at 5,277.51, an increase of 3.15%. Market trend: Foreign funds started to come in again KLCI continued its uptrend and ended higher but could not maintain above the 1,600 level. However, I think it has a good chance to stay above 1,600 in …
In 2024, I found out that Interactive Brokers (IBKR) offers some advantages over Firstrade (click here to learn more about Firstrade) and Gotrade. Thus, I decided to transfer my portfolio in Gotrade to IBKR. In this IBKR review, I will share my reasons of switching to this brokerage. Funding of the account The main reason …
In today’s fast-paced world, the concept of financial freedom holds more significance than ever before. Most people aims to attain financial freedom. In this article, let’s explore this concept and what we can do to achieve financial freedom. What is financial freedom? Financial freedom is not just about accumulating wealth. It is also not about …
(Updated: 22 May 2024) Employees’ Provident Fund (EPF) has restructure its members’ accounts starting 11 May 2024. Account 3 or Akaun Fleksibel is now active. To learn more about this new account structure, you may click here. Transfer initial amount to Akaun Fleksibel We can use the KWSP i-Akaun app to initiate the transfer from …
In estate planning, trusts serve as invaluable tools for individuals to manage and distribute their assets effectively. Two common types of trusts used in Malaysia are revocable and irrevocable living trusts. Understanding the differences between these two structures is crucial for anyone considering estate planning. What is a living trust? Before diving into the specifics …
In this article, the nomination I mean is the naming of beneficiary(ies) for three assets, namely your Employees Provident Fund (EPF), life insurance and personal accident insurance, and Private Retirement Scheme (PRS). This is part of your estate planning. The beneficiary(ies) of these assets are known as nominees. Why should you make the nomination? As …
Employees’ Provident Fund (EPF) is going to restructure its members’ accounts starting 11 May 2024. It is going to introduce Account 3 which allows flexible withdrawal. Hence, a member’s account will increase from two accounts to three accounts. This exercise involves all EPF members under the age of 55. Current account structure Currently, a member’s …
Market condition KLCI increased by 2.60% to close at 1,575.97. S&P500 dropped to 5,116.17, a decrease 2.63%. Market trend: Foreign funds continued to flow out of Malaysia Although the foreign funds continued its outflow, KLCI managed to close higher than last month. Our index has increased by 8.34% year-to-date. S&P500 could not continue its uptrend …
Whether an individual passes away with or without a will can have significant implications for their heirs and beneficiaries. The main difference between testacy and intestacy is whether there is a valid will left by the deceased. Testacy: Grant of Probate Testacy refers to the situation where a person dies leaving a valid will that …
