In today’s fast-paced world, achieving financial freedom is a goal many aspire to but few achieve. One of the most effective ways to attain this freedom is through passive income. Understanding Passive Income Passive income refers to earnings derived from activities in which the earner is not actively involved. Unlike traditional employment, where income is …
Budgeting is the cornerstone of personal finance, serving as a roadmap to financial stability and independence. Whether you are just starting out or looking to refine your financial strategies, understanding the principles and practices of budgeting can transform your financial life. We will explore the essential elements of budgeting and share some practical tips to …
Are you looking to increase the yield of your savings in this new year? Digital banks could be your option. In Malaysia, there are three digital banks currently. These banks are GXBank, AEON Bank, and Boost Bank. Rize is not a true digital bank but I am going to include it in this comparison. Digital …
Employees’ Provident Fund (EPF) has introduced its Retirement Income Adequacy (RIA) Framework on 12 December 2024. The RIA is set to launch in January 2026 but some details are already released. RIA Framework The RIA framework allows members to set savings targets that reflect different retirement lifestyles and aspirations. This approach emphasises the importance of …
Not too long ago, I decided to withdraw some money from my Employees’ Provident Fund (EPF) Akaun Fleksibel. In this article, I will share my experience. EPF Akaun Fleksibel Withdrawal Process To perform withdrawal, you can go to your KWSP i-Akaun app. In the app, click on Withdrawal at the bottom and select Feksibel icon …
Before 2024 ends, let’s see if you can reduce your income tax for this year. This article is about YA2024 income tax for individual resident. In this article, I will only touch on certain tax reliefs. For a full list of available tax reliefs, you may refer to this page from PwC Malaysia (Link). Tax …
Amanah Saham Malaysia 2 – Wawasan (ASM 2 Wawasan) has paid its latest dividend on 1 September 2024. Dividend Its dividend is RM 0.0475, equals to a dividend rate of 4.75%. It is an increase of 5.56% from 2023. Dividend trend To know the previous dividends of this fixed price fund, you can refer to …
Do you have extra cash sitting in your bank account? You are keeping it in fixed deposits (FDs), so it is considered as an investment right? Sadly, the answer is no. This is due to the fact that our personal inflation rate (click here to learn more) is often higher than the interest rate of …
Employees’ Provident Fund (EPF) has restructure its members’ accounts starting 11 May 2024. To learn more about this new account structure, you may click here. Your Akaun Fleksibel is now active and has been receiving its portion if you have made contributions in the past few months. The deadline for the transfer of an initial …
Credit cards have become an essential part of modern financial life, offering convenience, rewards, and flexibility. Most Malaysians have access to credit cards nowadays. As long as you have an income, you most probably qualify for a credit card. Credit cards are widely used for everyday transactions, large purchases, and even for building a credit …
