To begin with, you'll require funds when you retire. Second, if you don't invest your money, your money will depreciate in value over time due to inflation.
So, as we mentioned before, at the end of every month, your goal will be to make sure that you will have some extra money left at the end of every month, save aside a portion of your monthly salary ery month. You should invest this money on a regular basis.
Why? It turns out that timing the markets is really tough.
Even expert fund managers have difficulty outperforming the index. That is why, regardless of whether the market is rising or falling, you should continue to invest.
Start by putting aside at least 5-10% of your salary! Set away 5-10% of your overall salary on the day it is received and save it. If you make RM3,500 each month, you should set aside RM175-350 or whatever amount you can afford to begin with.
In order to make your savings work for you, you will need to invest it. Fixed Deposits, EPF, Amanah Saham, REITS, ETF, Unit Trust Funds, and Stocks are just a few of the investing alternatives available.
This is where Big Plan developed the Big Plan Comprehensive Report, which will assist you in gaining a complete picture of your personal finances and assisting you in managing your income and expenses, establishing an emergency fund, determining how much you need to save or invest for retirement, and obtaining the best insurance coverage.
Start your journey now on how to lead a financially responsible life with Big Plan.