Hey friends, money can grow without additional effort if you put them in the right places.
For example, you’d get close to 0% by putting your money in a savings account, and under 2% per annum in a fixed deposit.
Or, you can get 10% per annum investing in moderate-risk unit trusts or ETFs.
Or, by putting USD $8,000 just 400 days ago in $SHIB (Shiba Inu token) would qualify you in the three comma club, placing yourself at No. 6 in the Forbes Malaysia Richest list.
These are the platforms I use, if you’re interested in exploring:
- Regular dollar-cost-average investments: Stashaway
- Buying US stocks (like Tesla, Apple, etc): Interactive Brokers
- Crypto: Huobi (I prefer Binance but too bad, it’s banned in Malaysia now)
Also, if you’re buying stocks through Interactive Brokers, it’s easier to fund and withdraw in an SGD account, so you might want to look into opening a Maybank or CIMB Singapore account.
All these accounts are easy to set up and don’t require physical paperwork, except for opening a Maybank SG account which requires you to print and submit the form to any Maybank Malaysia branch, and they’ll forward it to the Singapore branch.
The list is not exhaustive. There are many investment tools like properties, ASB, PRS, EPF and they also can give modest returns. I’m only highlighting points 1-3 as I’m guessing not as many people have used it compared to the more traditional route.
Whichever investment route(s) you choose, please do your own due diligence and invest safely.
Don’t have money to invest? Upskill for cheap through Udemy and find better paying jobs. The best investment after all, is to invest in yourself first.
Cheers everybody.