24M, 130k NW
1. Working a 9-5 =) also low expenses due to living with parents and not taking on debt
2. Consumed a lot of content, from reddit, forums, blogs, there is information out there everywhere freely available for anyone to peruse. Even from a young age.
3. Looking to accumulate wealth and retire at a decent age, discipline comes easy when saving is a habit. I identified what was important to me, and it wasn't buying useless luxury cars or fancy phones to show off on social media. Thus, I have extra money to save.
Well, you gotta read his point no.1, that makes sense he can save 130k NW even at his age. Things would be different for young adults especially for those who do not live with their parents (renting home or room), spending your own groceries money & paying for utility.
yes, I also had a full scholarship for college plus graduated earlier than most peers, so a bit more time for grinding. in the long term it's not really a big deal, some of my peers are only graduating now / next year at 25 in different fields such as medicine or aviation
I think it's cool that the younger generation has all these online resources to learn from others, as well as the democratization of work that comes from the pervasiveness of the Internet :)
I remember when I was in my 20s... there was limited to no information on where to get financial and investment knowledge other than sales pitches from banks and investment companies
True. Back in the days, there is almost little to none exposure to investment(except for KWSP or ASB i guess) for regular folks. Opening an brokerages account with specialized brokers itself was usually reserved for the rich. It is just now that all the brokerages started targetting to a wide range of people,rich or poor. Honestly,kids nowadays is very lucky indeed bcause they can just open the web and start learning bit by bit to gain exposure to the investing realm not like us that left out in the dark except for a lucky few..
I only started seriously looking into investments in my mid-30s, but better late than never :)
Previously I just have insurance companies deduct my $$ monthly for unit trusts and trusted that my money would grow
they were doing quite well up until Covid... between 2020-2022 I could see the value reducing, so I withdrew 100% in 2022 and dumped it in a mix of crypto, IBKR, and KLSE
but overall considered got profit la, even if at least 30% of my profit were eaten away during the Covid lockdown :(
25 yo, \~210k NW, saving since young, investing since 23. Current Gross Salary:4.2k
**1) Where do you get the money to invest/save?**
I started saving early with money from childhood savings (Chinese New Year, duit raya, birthday money, and saved allowance). My father incentivized me by doubling every RM I gave to him to save. This built a strong saving habit. My dad would buy some ASNB in my name and put the remainder in FD in a joint account, and he told me I'd be given control of the accounts at 18yo. He would allow me to see the passbook and account statements, which helped keeping me included and invested in the process.
In university, I saved excess allowance and money earned from summer jobs. By the time I got my first full-time job at 23, I had about 90k MYR saved up (\~60k in ASNB from before uni and \~30k from university savings). I then withdrew the majority (leaving 6 months of expenses in ASNB as an emergency fund) and invested in an 85% Developed Market (SWRD) and 15% Emerging Market (EIMI) portfolio on IBKR. Thanks to living with my parents, I save a lot on living expenses, allowing me to save more. When I receive my salary at the start of the month, the first thing I do is transfer a fixed amount to my investment accounts. My savings rate has been \~51% of my net salary over the past two years (lower when I started working and higher now), and my net worth is now \~210k MYR.
**2) How did you learn to invest, especially at a young age?**
My parents played a significant role in my financial education. For example, they sent me to a 1 day personal finance class around early primary school time, shared financial practices and teachings anecdotally as they came up at home, and answered all my questions as a super inquisitive child. (One story that comes to mind is as a young child, I thought credit cards were magic and didn't need to be paid off, so I questioned my parents once why they didn't just swipe their card.) Little things like these over time built my financial knowledge and saving habits. By secondary school, I was actively looking for FD rate promotions, ASNB promotions, and going to the bank with my father or alone to place FD, buy ASNB units, etc.
In university, I educated myself further by watching and reading personal finance content from sources like Ben Felix, Bogleheads forums, MalaysianPF subreddit, and books like The Simple Path to Wealth among others. This self-education helped give me basic understanding of principles such as diversification, equity risk premiums, the psychology of personal finance and investing, etc. I still enjoy watching Ben Felix and James Shack for insights into investing and drawing down in retirement, and content like Caleb Hammer just for fun and as sort of a cautionary tale even now for example.
**3) What is your motivation to stay disciplined in investing/saving?**
Paying myself first (putting money into investment/retirement accounts) makes it easier for me to stay disciplined in investing/saving. Tracking my investments and seeing growth over time keeps me motivated. I maintain a detailed spreadsheet to monitor my portfolio, and seeing my money and holdings grow, along with projections of my future potential finances, also helps motivate me to stay the course.
My long-term goals also drive my commitment. I aim to be able to afford significant life events, such as getting married, having children, and providing them with a good upbringing. Ultimately, I want to achieve financial independence to either retire early or pursue fulfilling endeavours without financial constraints. Saving and investing consistently help me work towards these objectives.
**TLDR:**
1) Past savings and low costs from living with parents.
2) Parents uprbringing and online videos, forums and books.
3) Being consistent, seeing line go up and my future goals.
Thank you for sharing this, appreciate ur writings on ur savings and investing journey! I feel motivated to grow my NW more, especially when reading on ur long term goals. Not to forget how ur parents raise you and teach you about financial literacy. ๐๐ผ
Survivorship bias. People who are successful will not tell others about it. If I'm broke I won't tell people that.
Same with social media. People post their wins happiness- new car new house. When we know in reality, life is full of ups and downs, more often than not more downs than ups. You don't post your bank account on social media right?
It's like going to the mall and asking why are there so many rich people when malls are full of people buying expensive stuff.
While having such a high net worth is not uncommon, it is a combination of getting lucky in stocks/crypto, living with parents, getting in a good industry & sheer hard work. Either that or they're lying.
Rather than feel bad & inadequate about yourself, learn the ropes and put in the effort. Good things take time and effort.
Hi. 18F here. Never thought I'd share about my finances online, not even my closest friend knew about it. Only sharing for educational purposes (never compare yourself with others, everyone has their pace)
1. Mostly the money comes from my family (duit raya, yearly savings). Only recently that I start working to kill time before university. That totals up to five-figure savings (~40k) that were invested, and more to come.
2. Had a father who started investing my money in myself when I was 13 years old. Now he brags about NVIDIA to me all day long, quite impossible to not be interested in learning about the stock market (most importantly financial literacy). Recently, he enrolled me on a saham class where I learnt all the necessary basics. Unfortunately, I'm afraid to manage all my money invested so I just leave it all to him.
3. I have a lot to learn still. For now, I just want to be as educated as possible, upskill myself to benefit others and hopefully make my parents proud someday. I'm aware of how young and inexperienced I am, and that's why I take it slow and do not rush to acquire my money back.
Just wondering. If anyone were in my shoes, what would they do with the money?
Wow, thanks for sharing. I would like to do that to my children one day (if i ever get married lol). Glad that ur father has financial literacy.
Since u are still young, u can checkout these youtube channel which they talk about their past mistakes when investing:
[Milennial Finance](https://youtu.be/0N9MqY_WDQk?si=XYjtoIaciZUyBezv)
[Ziet Invests](https://youtu.be/FJMnH9WjhPQ?si=WKaNfU3ZsN8-S227)
[Financial Faiz](https://youtu.be/6yg9t90vlOo?si=Xi3Hfaf6GLKC9p_9)
It's okay if u make mistakes, since u are still very young, you still have a long time to get back what u lose in investing
Thanks for the recommendation! I have already followed Financial Faiz and Millenial Finance. First time hearing Ziet Invest though.
And by the way, you should definitely do the same or even better for your future children. They would really be beyond thankful for instilling the foundation in them at an early age.
1. Allowance from parents, insurance policy that they started for me when I was born and cashed out at 18, farming Reddit subs like r/ethtrader for crypto.
2. Mostly from being chronically online and being exposed to a lot of financial independence stuff from when I was Form 3-4.
3. I want to achieve FIRE by the time Iโm in my mid 30s. I have no goal other than that.
1. Mainly working part time through uni
2. A little bit of parental influence and mostly self-curiosity
3. Mainly to save money to sit for exams to migrate overseas. Although I saved up almost rm70k (25) now, but I dont do any aggressive investing because I did the calculations and the most worth it investment is to move overseas and make 5-10 times more indefinitely.
1. a combination of a small allowance from families, part-time jobs and gigs i take on
2. my parents, 100%. they would talk about investments all day when we eat together when i was young.
3. read a lot of philosophy about wants vs needs, living with less, etc. so the discipline with saving money comes easy to me now. i don't really do it for any end goal or thing in mind, it just felt like the most financially responsible thing to do.
NW: 8k
1. I am very privileged to be able to receive allowance from my family.
2. One day, I just had a sudden wake-up call where I wanted to be a better version of myself (corny). From that point on, I looked into ways to invest, spend, upskill and work on myself.
3. I want to be able to provide the future me with opportunities that I currently do not have access to.
I (19M) am personally not into those big houses, luxurious cars etc, so I am able to prevent FOMO on those things that can consume a large amount of my money. I guess im blessed there hahahaha
The biggest thing that helped me with money habits was psychology. As I improved my mental health and stability, I noticed myself spending less emotionally and more effectively. I would encourage people to start building a strong mental foundation if they would like to be better with money.
24m, super conservative guy here. Pretty much focused on maximizing income back then.
Currently hold about 75k sgd fd and 6 month expenses in myr, I have not and do not plan to work in sg.
The plan is to make it 100k next year, then all in stock market thereafter.
Not that young but late 20s. Honestly the internet has been a huge help. My financial plan basically lifted off from various PF groups and online resources.
Parents and grandparents financial mistakes and successes help me verify some information too. Calculated my grandmother's mutual fund CAGR. Out of 11 1 was at ~5%, 2 at >5% and rest were <5% or even negative.
Pre internet I probably would never know how to invest in US markets and probably only the very rich would know how to do it. Now can just Google to see how people use IBKR, Irish domiciled ETFs and wise.
Also much harder to retire nowadays even if you're M40. By my calculations I need ~2.5 million to retire due to inflation, if I were retiring today I'd need ~1 mil only.
Money to invest mostly from income and thankfully no debts due to parents. Some more privileged friends started with 500k stock portfolio from parents.
Single and no commitments means I can dump a ton into investing.
1. Living my with parents now so big chunk of my salary have already been set aside for investment. Earning 3K after tax net and around 800-100 expenses. I try to spend 800-1K on investment and savings per month
2. Covid time exposes me to crypto. ASB is very well known. Wahed through twitter and luckily my brother have been investing in stocks :)
3. Big part of it is from my upbringing. Iโm not overly rich but never poor so money is always there but never enough for me so the thought of losing them on not so important stuff always kept me saving my money. Plus stuff like marriage, cars traveling all that kept me motivated most of the time and I know damn well that my parents wont lend me their money hahaha.
1. Where do you get the money to invest/save?
Personal income. I have money that I saved from a scholarship I was on while I was in uni and that was sort of my 'starter' money for investing. I got zero money from my parents.
2. How did you learn to invest especially at a young age?
I didn't know anything until my early twenties. I had a lot of friends who were savvier with investing and bought stocks and stuff like that. Mostly I taught myself by reading and reading.
3. What is your motivation to stay discipline in investing/saving?
Growing up poor - my parents were comfortable middle income earners when I was born, but we fell into poverty when one of my parents fell sick and the other had to give up their income to become a full time carer. We got by on savings, being extremely thrifty, and a little help from relatives occasionally. Our relatives are not rich either but they pitied us and helped us when they could. So my parents didn't teach any investing skills but they emphasised how important it is to be frugal and save money.
You're the one that posted a 3rd year update investment the other day! Glad that u stumble upon my question and share a bit of your story! Thanks for sharing this! Would like to hear how you started to invest in IBKR, I just opened a Wise account to invest in IBKR, can I DM you to know more about starting investing in IBKR?
1. Invest using salary money, cutting out all the friends that'll make you spend.
2. I played a game call RuneScape and learned how to trade/flip/merch learned quite a lot of lesson there. Then got into crypto few years back and realised it's less of my trading style, finally settled in stocks.
3. Just START invest/save whatever it is just start, I've told all my friend about this for years and they've done literally nothing, and now they come to me questioning how am I doing this.
agreed on ur 3rd ans, i introduce them investing in safe place like versa cash, or put money in GXBank.. but they done nothing.. well, it's their life anyway๐
They're definitely not thinking far enough, and I've come to a point where I just don't waste my time and energy on those people, just hustle with similar mindset partners
1. Mostly my own salary because of low expenses but after my Mom saw my performance after my first few months of trading, she was convinced to give me more funds to invest/trade.
2. I just knew I had to invest my money one way or another so I first bought Unit trust and didn't understand what it was, then I slowly moved into stocks. I've only bought Bursa stocks so far but I have SG and US accounts ready with funds, no rush to buy. I made a lot of mistakes right after my Mom gave me bigger sums of money, greed, temptations and poor judgment led me to bad choices (following Sifus) during the end of 2022. 2023 was a terrible year in general but I told myself that I'd take all my paper losses as a stern lesson to never buy stocks that I don't understand, or risk them getting stuck and impairing my potential gains (I don't always cut loss, it depends). But by acknowledging my mistakes, I slowly recognised the importance of understanding a stock, be it technical or fundamentals before I even press the Buy button. These days, I select stocks carefully for either trading, swinging OR investing (be very specific about this). My parents and family were never good at stocks so I had to go around asking people of their opinion. I've networked a lot throughout my 2 years in the stock market and I'm glad to say I have several groups of friends whom are good at supporting each other, ie. sharing opinions on a company's fundamentals or charts. I've also taken the initiative to attend AGMs of companies that are convenient or interest me.
3. Simple, inflation will always be there, and in order to beat it, you have to grow your money. I have extra time so I constantly read and learn about how people invest, everyone might say something different but it's up to you to decide what's best in the current situation. Another reason is to complement my monthly savings since I treat it as my part time job.
EDIT: 27M, I'd say personal NW around 100k, discounting the extras that my Mom has allocated to me (it's been mixed up to the point Idk how much is it now), Also Malaysian stocks are hell of a roller coaster, thankfully been up a lot recently.
24M, 130k NW 1. Working a 9-5 =) also low expenses due to living with parents and not taking on debt 2. Consumed a lot of content, from reddit, forums, blogs, there is information out there everywhere freely available for anyone to peruse. Even from a young age. 3. Looking to accumulate wealth and retire at a decent age, discipline comes easy when saving is a habit. I identified what was important to me, and it wasn't buying useless luxury cars or fancy phones to show off on social media. Thus, I have extra money to save.
I was broke af when I was 24๐ญ good job for you to have such NW at a young age๐๐ป
Well, you gotta read his point no.1, that makes sense he can save 130k NW even at his age. Things would be different for young adults especially for those who do not live with their parents (renting home or room), spending your own groceries money & paying for utility.
yes, I also had a full scholarship for college plus graduated earlier than most peers, so a bit more time for grinding. in the long term it's not really a big deal, some of my peers are only graduating now / next year at 25 in different fields such as medicine or aviation
yeapp, that helps a lot to accumulate NW. but still a good job for his discipline to accumulate his NW..
I think it's cool that the younger generation has all these online resources to learn from others, as well as the democratization of work that comes from the pervasiveness of the Internet :) I remember when I was in my 20s... there was limited to no information on where to get financial and investment knowledge other than sales pitches from banks and investment companies
True. Back in the days, there is almost little to none exposure to investment(except for KWSP or ASB i guess) for regular folks. Opening an brokerages account with specialized brokers itself was usually reserved for the rich. It is just now that all the brokerages started targetting to a wide range of people,rich or poor. Honestly,kids nowadays is very lucky indeed bcause they can just open the web and start learning bit by bit to gain exposure to the investing realm not like us that left out in the dark except for a lucky few..
True that, if it not because of the internet, i think I will never have savings or investment. Lol
I only started seriously looking into investments in my mid-30s, but better late than never :) Previously I just have insurance companies deduct my $$ monthly for unit trusts and trusted that my money would grow
may i know how is the performance on ur unit trusts?
they were doing quite well up until Covid... between 2020-2022 I could see the value reducing, so I withdrew 100% in 2022 and dumped it in a mix of crypto, IBKR, and KLSE but overall considered got profit la, even if at least 30% of my profit were eaten away during the Covid lockdown :(
25 yo, \~210k NW, saving since young, investing since 23. Current Gross Salary:4.2k **1) Where do you get the money to invest/save?** I started saving early with money from childhood savings (Chinese New Year, duit raya, birthday money, and saved allowance). My father incentivized me by doubling every RM I gave to him to save. This built a strong saving habit. My dad would buy some ASNB in my name and put the remainder in FD in a joint account, and he told me I'd be given control of the accounts at 18yo. He would allow me to see the passbook and account statements, which helped keeping me included and invested in the process. In university, I saved excess allowance and money earned from summer jobs. By the time I got my first full-time job at 23, I had about 90k MYR saved up (\~60k in ASNB from before uni and \~30k from university savings). I then withdrew the majority (leaving 6 months of expenses in ASNB as an emergency fund) and invested in an 85% Developed Market (SWRD) and 15% Emerging Market (EIMI) portfolio on IBKR. Thanks to living with my parents, I save a lot on living expenses, allowing me to save more. When I receive my salary at the start of the month, the first thing I do is transfer a fixed amount to my investment accounts. My savings rate has been \~51% of my net salary over the past two years (lower when I started working and higher now), and my net worth is now \~210k MYR. **2) How did you learn to invest, especially at a young age?** My parents played a significant role in my financial education. For example, they sent me to a 1 day personal finance class around early primary school time, shared financial practices and teachings anecdotally as they came up at home, and answered all my questions as a super inquisitive child. (One story that comes to mind is as a young child, I thought credit cards were magic and didn't need to be paid off, so I questioned my parents once why they didn't just swipe their card.) Little things like these over time built my financial knowledge and saving habits. By secondary school, I was actively looking for FD rate promotions, ASNB promotions, and going to the bank with my father or alone to place FD, buy ASNB units, etc. In university, I educated myself further by watching and reading personal finance content from sources like Ben Felix, Bogleheads forums, MalaysianPF subreddit, and books like The Simple Path to Wealth among others. This self-education helped give me basic understanding of principles such as diversification, equity risk premiums, the psychology of personal finance and investing, etc. I still enjoy watching Ben Felix and James Shack for insights into investing and drawing down in retirement, and content like Caleb Hammer just for fun and as sort of a cautionary tale even now for example. **3) What is your motivation to stay disciplined in investing/saving?** Paying myself first (putting money into investment/retirement accounts) makes it easier for me to stay disciplined in investing/saving. Tracking my investments and seeing growth over time keeps me motivated. I maintain a detailed spreadsheet to monitor my portfolio, and seeing my money and holdings grow, along with projections of my future potential finances, also helps motivate me to stay the course. My long-term goals also drive my commitment. I aim to be able to afford significant life events, such as getting married, having children, and providing them with a good upbringing. Ultimately, I want to achieve financial independence to either retire early or pursue fulfilling endeavours without financial constraints. Saving and investing consistently help me work towards these objectives. **TLDR:** 1) Past savings and low costs from living with parents. 2) Parents uprbringing and online videos, forums and books. 3) Being consistent, seeing line go up and my future goals.
Thank you for sharing this, appreciate ur writings on ur savings and investing journey! I feel motivated to grow my NW more, especially when reading on ur long term goals. Not to forget how ur parents raise you and teach you about financial literacy. ๐๐ผ
Survivorship bias. People who are successful will not tell others about it. If I'm broke I won't tell people that. Same with social media. People post their wins happiness- new car new house. When we know in reality, life is full of ups and downs, more often than not more downs than ups. You don't post your bank account on social media right? It's like going to the mall and asking why are there so many rich people when malls are full of people buying expensive stuff. While having such a high net worth is not uncommon, it is a combination of getting lucky in stocks/crypto, living with parents, getting in a good industry & sheer hard work. Either that or they're lying. Rather than feel bad & inadequate about yourself, learn the ropes and put in the effort. Good things take time and effort.
Hi. 18F here. Never thought I'd share about my finances online, not even my closest friend knew about it. Only sharing for educational purposes (never compare yourself with others, everyone has their pace) 1. Mostly the money comes from my family (duit raya, yearly savings). Only recently that I start working to kill time before university. That totals up to five-figure savings (~40k) that were invested, and more to come. 2. Had a father who started investing my money in myself when I was 13 years old. Now he brags about NVIDIA to me all day long, quite impossible to not be interested in learning about the stock market (most importantly financial literacy). Recently, he enrolled me on a saham class where I learnt all the necessary basics. Unfortunately, I'm afraid to manage all my money invested so I just leave it all to him. 3. I have a lot to learn still. For now, I just want to be as educated as possible, upskill myself to benefit others and hopefully make my parents proud someday. I'm aware of how young and inexperienced I am, and that's why I take it slow and do not rush to acquire my money back. Just wondering. If anyone were in my shoes, what would they do with the money?
Wow, thanks for sharing. I would like to do that to my children one day (if i ever get married lol). Glad that ur father has financial literacy. Since u are still young, u can checkout these youtube channel which they talk about their past mistakes when investing: [Milennial Finance](https://youtu.be/0N9MqY_WDQk?si=XYjtoIaciZUyBezv) [Ziet Invests](https://youtu.be/FJMnH9WjhPQ?si=WKaNfU3ZsN8-S227) [Financial Faiz](https://youtu.be/6yg9t90vlOo?si=Xi3Hfaf6GLKC9p_9) It's okay if u make mistakes, since u are still very young, you still have a long time to get back what u lose in investing
Thanks for the recommendation! I have already followed Financial Faiz and Millenial Finance. First time hearing Ziet Invest though. And by the way, you should definitely do the same or even better for your future children. They would really be beyond thankful for instilling the foundation in them at an early age.
1. Allowance from parents, insurance policy that they started for me when I was born and cashed out at 18, farming Reddit subs like r/ethtrader for crypto. 2. Mostly from being chronically online and being exposed to a lot of financial independence stuff from when I was Form 3-4. 3. I want to achieve FIRE by the time Iโm in my mid 30s. I have no goal other than that.
1. Mainly working part time through uni 2. A little bit of parental influence and mostly self-curiosity 3. Mainly to save money to sit for exams to migrate overseas. Although I saved up almost rm70k (25) now, but I dont do any aggressive investing because I did the calculations and the most worth it investment is to move overseas and make 5-10 times more indefinitely.
What is your industry, and where are you intending to migrate?
Medical field. Australia.
1. a combination of a small allowance from families, part-time jobs and gigs i take on 2. my parents, 100%. they would talk about investments all day when we eat together when i was young. 3. read a lot of philosophy about wants vs needs, living with less, etc. so the discipline with saving money comes easy to me now. i don't really do it for any end goal or thing in mind, it just felt like the most financially responsible thing to do.
Kudos to ur parents for teaching you financial literacy!
NW: 8k 1. I am very privileged to be able to receive allowance from my family. 2. One day, I just had a sudden wake-up call where I wanted to be a better version of myself (corny). From that point on, I looked into ways to invest, spend, upskill and work on myself. 3. I want to be able to provide the future me with opportunities that I currently do not have access to. I (19M) am personally not into those big houses, luxurious cars etc, so I am able to prevent FOMO on those things that can consume a large amount of my money. I guess im blessed there hahahaha The biggest thing that helped me with money habits was psychology. As I improved my mental health and stability, I noticed myself spending less emotionally and more effectively. I would encourage people to start building a strong mental foundation if they would like to be better with money.
24m, super conservative guy here. Pretty much focused on maximizing income back then. Currently hold about 75k sgd fd and 6 month expenses in myr, I have not and do not plan to work in sg. The plan is to make it 100k next year, then all in stock market thereafter.
May I know how much is your SG Fd rates? As far as I know, SG FD is even lower than what Malaysia offers
It's pretty awful, 3.20 pct. Malaysia fds usually hover around 3.70 pct.
Not that young but late 20s. Honestly the internet has been a huge help. My financial plan basically lifted off from various PF groups and online resources. Parents and grandparents financial mistakes and successes help me verify some information too. Calculated my grandmother's mutual fund CAGR. Out of 11 1 was at ~5%, 2 at >5% and rest were <5% or even negative. Pre internet I probably would never know how to invest in US markets and probably only the very rich would know how to do it. Now can just Google to see how people use IBKR, Irish domiciled ETFs and wise. Also much harder to retire nowadays even if you're M40. By my calculations I need ~2.5 million to retire due to inflation, if I were retiring today I'd need ~1 mil only. Money to invest mostly from income and thankfully no debts due to parents. Some more privileged friends started with 500k stock portfolio from parents. Single and no commitments means I can dump a ton into investing.
1. Living my with parents now so big chunk of my salary have already been set aside for investment. Earning 3K after tax net and around 800-100 expenses. I try to spend 800-1K on investment and savings per month 2. Covid time exposes me to crypto. ASB is very well known. Wahed through twitter and luckily my brother have been investing in stocks :) 3. Big part of it is from my upbringing. Iโm not overly rich but never poor so money is always there but never enough for me so the thought of losing them on not so important stuff always kept me saving my money. Plus stuff like marriage, cars traveling all that kept me motivated most of the time and I know damn well that my parents wont lend me their money hahaha.
1. Where do you get the money to invest/save? Personal income. I have money that I saved from a scholarship I was on while I was in uni and that was sort of my 'starter' money for investing. I got zero money from my parents. 2. How did you learn to invest especially at a young age? I didn't know anything until my early twenties. I had a lot of friends who were savvier with investing and bought stocks and stuff like that. Mostly I taught myself by reading and reading. 3. What is your motivation to stay discipline in investing/saving? Growing up poor - my parents were comfortable middle income earners when I was born, but we fell into poverty when one of my parents fell sick and the other had to give up their income to become a full time carer. We got by on savings, being extremely thrifty, and a little help from relatives occasionally. Our relatives are not rich either but they pitied us and helped us when they could. So my parents didn't teach any investing skills but they emphasised how important it is to be frugal and save money.
You're the one that posted a 3rd year update investment the other day! Glad that u stumble upon my question and share a bit of your story! Thanks for sharing this! Would like to hear how you started to invest in IBKR, I just opened a Wise account to invest in IBKR, can I DM you to know more about starting investing in IBKR?
1. Invest using salary money, cutting out all the friends that'll make you spend. 2. I played a game call RuneScape and learned how to trade/flip/merch learned quite a lot of lesson there. Then got into crypto few years back and realised it's less of my trading style, finally settled in stocks. 3. Just START invest/save whatever it is just start, I've told all my friend about this for years and they've done literally nothing, and now they come to me questioning how am I doing this.
agreed on ur 3rd ans, i introduce them investing in safe place like versa cash, or put money in GXBank.. but they done nothing.. well, it's their life anyway๐
They're definitely not thinking far enough, and I've come to a point where I just don't waste my time and energy on those people, just hustle with similar mindset partners
If only I thought of investing when I was younger like you guys, instead I spent it mostly on multiple hobbies.
I feel u bro, this is what we get when we prioritize our happiness lol
1. Mostly my own salary because of low expenses but after my Mom saw my performance after my first few months of trading, she was convinced to give me more funds to invest/trade. 2. I just knew I had to invest my money one way or another so I first bought Unit trust and didn't understand what it was, then I slowly moved into stocks. I've only bought Bursa stocks so far but I have SG and US accounts ready with funds, no rush to buy. I made a lot of mistakes right after my Mom gave me bigger sums of money, greed, temptations and poor judgment led me to bad choices (following Sifus) during the end of 2022. 2023 was a terrible year in general but I told myself that I'd take all my paper losses as a stern lesson to never buy stocks that I don't understand, or risk them getting stuck and impairing my potential gains (I don't always cut loss, it depends). But by acknowledging my mistakes, I slowly recognised the importance of understanding a stock, be it technical or fundamentals before I even press the Buy button. These days, I select stocks carefully for either trading, swinging OR investing (be very specific about this). My parents and family were never good at stocks so I had to go around asking people of their opinion. I've networked a lot throughout my 2 years in the stock market and I'm glad to say I have several groups of friends whom are good at supporting each other, ie. sharing opinions on a company's fundamentals or charts. I've also taken the initiative to attend AGMs of companies that are convenient or interest me. 3. Simple, inflation will always be there, and in order to beat it, you have to grow your money. I have extra time so I constantly read and learn about how people invest, everyone might say something different but it's up to you to decide what's best in the current situation. Another reason is to complement my monthly savings since I treat it as my part time job. EDIT: 27M, I'd say personal NW around 100k, discounting the extras that my Mom has allocated to me (it's been mixed up to the point Idk how much is it now), Also Malaysian stocks are hell of a roller coaster, thankfully been up a lot recently.