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View Full Version : What will you do if you have RM 1 million in cash?



wyshin88
24-09-2009, 01:50 PM
Just out of curiosity, what will you guys do to make the money grow if you have RM 1 million sitting in the bank FD now :confused:

Disclaimer : I do not have that kind of money :)

Sentinel
24-09-2009, 01:54 PM
Go see CM Lim Guan Eng to buy a 3-acre 99-year leasehold land at Balik Pulau at MYR5 psf strictly to buiild a charity home for the disabled kids. Then use the balance to build a hostel for the kids with 60 beds and a playground too.

If got more money, build a shallow therapeutic swimming pool to treat these kids in the pool.

I also need a Toyota Hilux van to take these kids to nearby schools and to the hospitals for their regular checkups and also to do marketing at the nearby wet market.

So helpp me God and drop a million quids down on this soul, fast.... :D

bslee
24-09-2009, 02:19 PM
I do charitable work too, IF I have the money..really!..no joke!
Bro Sentinel. I share your thoughts in doing good and for a noble cause. I know you'd do it if God willing. I certainly won't be stingy stingy like some very wealthy flers around. I know I can't use or carry the wealth to the grave.

Wah!..Hilux ah?.. Proton Juara could do mah!.. and can buy many for the price of a Hilux?

Carolrasiah
24-09-2009, 02:21 PM
Go see CM Lim Guan Eng to buy a 3-acre 99-year leasehold land at Balik Pulau at MYR5 psf strictly to buiild a charity home for the disabled kids. Then use the balance to build a hostel for the kids with 60 beds and a playground too.

If got more money, build a shallow therapeutic swimming pool to treat these kids in the pool.

I also need a Toyota Hilux van to take these kids to nearby schools and to the hospitals for their regular checkups and also to do marketing at the nearby wet market.

So helpp me God and drop a million quids down on this soul, fast.... :D
naw, very unlikely He'll do that

kwchang
24-09-2009, 02:24 PM
That is a huge sum to work with and my take is simple ... while thinking on how to invest wisely, the sum should be put in a fixed deposit in a bank that gives you the best monthly rates... then live on the monthly interest. At the very least, the principle remains untouched and is safe ... and the bank at least will give you some small privileges like free parking, free coffee and even lepak in their lounge to read the business times or track the international stock market on cable TV. I will not go waste it on a car (depreciating non-asset) or other big-boy toys

tupai
24-09-2009, 02:27 PM
hahahahah..he wants to GROW his rm1000000...and Sentinel is asking him to spend it! :D

I think i will set up a low cost now everyone can grow plants-nursery business...under the tenaga high tension wires. :p

Yang Bestnya ada rm1000000 latotupai :p

p/s I will also buy a limited edition Rm210,000 HD motobike that will guarantee to appreciate in time (if u dont crash it along the way to the bank lah)...alternatively, if i am K&K kinda guy, i will all rm1000000 in a capital guarantee, 5% dividend annually kinda investment...tats RM4K pocket moolah every month wooooo.... :p

bslee
24-09-2009, 02:28 PM
That is a huge sum to work with and my take is simple ...

1 million RINGGIT is small nowadays, of course many others feel differently. Setup a decent business will need up to a million these days...speaking broadly.

Rhiga
24-09-2009, 02:31 PM
That is a huge sum to work with and my take is simple ... while thinking on how to invest wisely, the sum should be put in a fixed deposit in a bank that gives you the best monthly rates... then live on the monthly interest. At the very least, the principle remains untouched and is safe ... and the bank at least will give you some small privileges like free parking, free coffee and even lepak in their lounge to read the business times or track the international stock market on cable TV. I will not go waste it on a car (depreciating non-asset) or other big-boy toys


Mr. Moderator,

You only need RM250k to enjoy theses privileges in a foreign bank. With one million, you actually can subscribe to 3-4 different Privilege banking and have a few reserve car parks overall.

And with one million, the annual interest is about 30-40k, not that much for SJ/USJ cost of living. :(

Cheers

USJ27Resident
24-09-2009, 02:34 PM
hahhaaa... if I am NOT mistaken - any FD above MYR 50,000 /- would be subjected to tax...

mebbe I am wrong but I do remember being told about this a long time ago...



... or other big-boy toys.

Other big boys toys??? sheeeesh!! last time I got a girlfriend... that too, was very fund depreciating experience... :p

kwchang
24-09-2009, 02:36 PM
..And with one million, the annual interest is about 30-40k, not that much... at 36K annually, that is 3K per month ...better than what your EPF will give you and certainly better than what most pensioners get if you have a pension scheme. Don't la be greedy ... if I get that sum sitting in the bank, I thank the Lord for his graciousness and blessing. i am a small fry, a million is still a huge sum for me :D

O by the way, if you are a millionaire already, the monthly interest can be donated to your favourite charity since it would only be small pocket money to you la

kwchang
24-09-2009, 02:40 PM
hahhaaa... if I am NOT mistaken - any FD above MYR 50,000 /- would be subjected to tax...Actually the sum has now being raised to RM100,000 - so keep many RM100K accounts la with interest redirected to your current account for pocket money expenditure or later investment ... so simple

And BTW, your bank portfolio can be made up of many accounts linked to your name - so you still make priviledged status altho each account is small

chin_wan
24-09-2009, 02:40 PM
1 million ringgitttttttt........muahahahahahaha!

http://www.abovethelaw.com/images/entries/one%20billion%20dollars%20Austin%20Powers%20Above% 20the%20Law%20blog.jpg

wyshin88
24-09-2009, 02:55 PM
Really? Reserved carpark? That means for Maybank, right outside their shoplot there will be a special parking for you and usually is blocked by double or triple "parker"? :D

I think now the tax thingy has been taken out, last time used to be 1 FD worth 100K will be subjected to tax, so you can actually have a few FD certificate with RM 99K, will that work?

The thing is, if put the money in FD, the interest (now), maximum will only be 3.5%? And inflation is going at 6%, so in reality, the money is shriking over time :mad:


Mr. Moderator,

You only need RM250k to enjoy theses privileges in a foreign bank. With one million, you actually can subscribe to 3-4 different Privilege banking and have a few reserve car parks overall.

And with one million, the annual interest is about 30-40k, not that much for SJ/USJ cost of living. :(

Cheers

Raikonen
24-09-2009, 02:55 PM
Buy a couple of goodyear court apartments and a shoplot in PH..

wyshin88
24-09-2009, 02:56 PM
I think thinking how to invest wisely is a major major question mark. :confused:


That is a huge sum to work with and my take is simple ... while thinking on how to invest wisely, the sum should be put in a fixed deposit in a bank that gives you the best monthly rates... then live on the monthly interest. At the very least, the principle remains untouched and is safe ... and the bank at least will give you some small privileges like free parking, free coffee and even lepak in their lounge to read the business times or track the international stock market on cable TV. I will not go waste it on a car (depreciating non-asset) or other big-boy toys

burntan
24-09-2009, 02:59 PM
Hmmm... 1 million ringgit sure can reduce some of my debts.

kwchang
24-09-2009, 02:59 PM
Really? Reserved carpark? That means for Maybank, right outside their shoplot there will be a special parking for you..
I think only foreign banks have this privileged free carpark - like StdChart or HSBC ... that's what i get to know from my friend who has such an account... how I wish i could

Raikonen
24-09-2009, 03:01 PM
RM1 million in FD, the principal amount is unsafe from inflation...It's another matter if you have RM100 mil, maybe then u can put RM1 mil in FD....

wyshin88
24-09-2009, 03:05 PM
Back in 1997 if I remember correctly, interest rate was very high, about 12%? So 1 million will have 120K of interest annually.

I always thought during bad time (now), cash is king, but with the pathetic interest rate, cash is not a very good investment vehicle, so the money has to go else where, buy a property maybe? I guess that's the Gov strategy, Gov doesn't encourage ppl to save at this time, they want us to spend spend spend!!


RM1 million in FD, the principal amount is unsafe from inflation...It's another matter if you have RM100 mil, maybe then u can put RM1 mil in FD....

Sentinel
24-09-2009, 03:17 PM
I do charitable work too, IF I have the money..really!..no joke!
Bro Sentinel. I share your thoughts in doing good and for a noble cause. I know you'd do it if God willing. I certainly won't be stingy stingy like some very wealthy flers around. I know I can't use or carry the wealth to the grave.

Wah!..Hilux ah?.. Proton Juara could do mah!.. and can buy many for the price of a Hilux?You will need a Holux because you need to install a hydraulic lift for those children using wheelchairs... I know Hilux can take a hydraulic lift quite well...

Sentinel
24-09-2009, 03:20 PM
naw, very unlikely He'll do thatWhy not? Because of the Kg Buah Pala issue, issit? (Kg Buah Pala was not his doing.... he has gone all out to help the residents but they have been used by other interested parties to keep throwing cow dung at him... ) I have told him about my plans and he has personally assured us to look for a piece of such land either in Balik Pulau or Batu Maung.... I know he will do it.

Sentinel
24-09-2009, 03:28 PM
Guys... there are private investment bankers (known as Personal Wealth Managers) that takes your money and invest for you... you tell them what to do or they do it for you including overseas equity investments... you get a monthly report on where your money is parked and how much you will be getting end of the year in dividends (which are already after-tax)... just tell them to email to you coz you're sipping your Camus brandy at the Bahamas....oh before I forgot, Maddox (who was recently jailed 150 years) was also a Personal Wealth Manager.... :D

Sentinel
24-09-2009, 03:32 PM
Back in 1997 if I remember correctly, interest rate was very high, about 12%? So 1 million will have 120K of interest annually.

I always thought during bad time (now), cash is king, but with the pathetic interest rate, cash is not a very good investment vehicle, so the money has to go else where, buy a property maybe? I guess that's the Gov strategy, Gov doesn't encourage ppl to save at this time, they want us to spend spend spend!!Back in 1997, if I had had the MYR1 million, I would not have been interested in the 12% interest, I would have plunked them all down on Tenaga Nasional, Maybank (both at below MYR4 per share) and Perlis Plantation (today at MYR16.18)!

kkearthling
24-09-2009, 04:27 PM
...if you hv high risk appetite, stock mkt.
but i'd recommend DIY. Online trading is so convenient nowadays. Although the return is better or extremely good, caution, it is a high risk investment, it requires an art of great discipline, otherwise you'll be burnt.

With 1M, shouldn't just spend it or donate simply/one off. It shld be invested first & wisely in order to hv a continuous ROI (return of investment), so tht you can continue donating & at the same time still having the principal.

Sentinel
24-09-2009, 04:35 PM
...if you hv high risk appetite, stock mkt.
but i'd recommend DIY. Online trading is so convenient nowadays. Although the return is better or extremely good, caution, it is a high risk investment, it requires an art of great discipline, otherwise you'll be burnt.

With 1M, shouldn't just spend it or donate simply/one off. It shld be invested first & wisely in order to hv a continuous ROI (return of investment), so tht you can continue donating & at the same time still having the principal.
True, true, true... if you had bought MYR1 million (or SGD400,000) worth of Genting Singapore shares 6 months ago at SGD0.40 (ie 1,000,000 shares), today it shall be worth SGD1,190,000 or MYR2,975,000!...

kkearthling
24-09-2009, 05:00 PM
don't hv to be 1M...the same applies for RM1K, 10K or 100K....sikit sikit lama lama jadi bukit...

patrick
24-09-2009, 09:00 PM
Guys... there are private investment bankers (known as Personal Wealth Managers) that takes your money and invest for you... you tell them what to do or they do it for you including overseas equity investments... you get a monthly report on where your money is parked and how much you will be getting end of the year in dividends (which are already after-tax)... just tell them to email to you coz you're sipping your Camus brandy at the Bahamas....oh before I forgot, Maddox (who was recently jailed 150 years) was also a Personal Wealth Manager.... :D

...But many of these investment bankers may not even take you in if your net worth is only 1m!

Also watch out for the many so called bank investment advisers who are nothing more than Unit Trusts marketeers!

yvonnefoong
24-09-2009, 09:10 PM
Hey, those who said you will do charity if get RM1 million, please read this:
http://www.yvonnefoong.com/2009/09/23/may-i-have-your-support-and-confidence/

Thanks! :D

chanelt
24-09-2009, 09:29 PM
Hmmm... if I have 1m, 1st thing is to quit my sh*t job!!!

patrick
24-09-2009, 09:51 PM
Just out of curiosity, what will you guys do to make the money grow if you have RM 1 million sitting in the bank FD now :confused:

Disclaimer : I do not have that kind of money :)

Based strictly on your subject matter, I would grow it by spreading the investment profile, depending on one's risk appetite. Hence they could be in these segments:

1. stocks
2. derivatives & other financial instrument
3. trusts
4. savings/FD

My take is cash should just be sufficient to meet your emergency requirement for the next 12 months. Hence, very solvent. Cash savings/FD these days will not grow your wealth but, like someone pointed out, is erosive.

Stocks (good stocks!) will not only hedge your wealth but also give you good or reasonable dividend yield. But one has to have a strong stomach when the market crash and stay unwavering or be even prepared to invest further to average down.

Derivatives such as bonds, iculs etc will help spread the risk of your investment under varying economic situations. Other financial instruments such as foreign currencies, gold and and unit trusts should also be kept in view. The govt trusts such as Wawasan 2020, ASM etc seem to be giving a satisfactory and consistent yield and cannot be ignored.

Noticeably missing from my list is property. Whilst property is a good hedge against inflation and often provide good capital gain, and sometimes apparently reasonable yield, I find too much hassle involved in property as in investment. On the surface, things appear good. Rent out your property, sit back and collect revenue from rentals every month. In reality, this act is spiked by many problems. And tenants will not hesitate to spook the landlord on the slightest of problem. To top it up, that is IF the tenant dont play havoc with your rentals! Hence, my take is if one wish to invest in property, it be for other objectives like maybe for your retirement residence or perhaps as a present to your son etc. But as an investment per se, not for me.
Mind you, this is strictly my view. I appreciate that many would vehemently oppose me on that view.

Happy investing millionaire wyshin88 !!

klutch
24-09-2009, 09:54 PM
I would just move to Singapore, & start a brand new life there. At least, I will have a better quality of life...!

Sentinel
24-09-2009, 10:06 PM
I would just move to Singapore, & start a brand new life there. At least, I will have a better quality of life...!You don't really need 1 million to move to Singapore, brader. Have a good 5 years solid work experience, a good degree (Masters got better still...) and below 42, you can go there and make your millions... in SGD currency summore! Oh you need the complete list of headhunters there to help place you in a good job / company and then your PR is assured... later they will invite you to learn to sing... Majulah Singapura!

patrick
24-09-2009, 10:31 PM
I would just move to Singapore, & start a brand new life there. At least, I will have a better quality of life...!

Alamak, people ask "....what will you guys do to make the money grow if you have RM 1 million sitting in the bank FD now" and you say you would move to Spore. How would that may his money grow????

In any case, your RM1m going to become S$400. You instead will be poorer technically!

Luckily I am not marking your papers....otherwise kena fail lah! Hahaha!!

SingaporeEhSai!
24-09-2009, 10:36 PM
I would just move to Singapore, & start a brand new life there. At least, I will have a better quality of life...!

i am opposite of u...i would make my money here (Singapore), move elsewhere to retire...probably sabah, with my own small rickety boat with cabin, air compressor, dive and fish for meal...

Singapore is not a cheap place to live or retire.Sure the quality of life here is good, but there are many other places in the world that could be better.

If you are a tourist, dont just compare life of locals as if they go Orchard Road everyday...try going to heartland coffeeshops and u can see how some of the locals are suffering..
:D

wyshin88
24-09-2009, 11:12 PM
THANKS Patrick, your input is very much appreciated as well as all other forumer's view. I am not a millionaire now, but as we all know, we have to be prepared right?


Based strictly on your subject matter, I would grow it by spreading the investment profile, depending on one's risk appetite. Hence they could be in these segments:

1. stocks
2. derivatives & other financial instrument
3. trusts
4. savings/FD

My take is cash should just be sufficient to meet your emergency requirement for the next 12 months. Hence, very solvent. Cash savings/FD these days will not grow your wealth but, like someone pointed out, is erosive.

Stocks (good stocks!) will not only hedge your wealth but also give you good or reasonable dividend yield. But one has to have a strong stomach when the market crash and stay unwavering or be even prepared to invest further to average down.

Derivatives such as bonds, iculs etc will help spread the risk of your investment under varying economic situations. Other financial instruments such as foreign currencies, gold and and unit trusts should also be kept in view. The govt trusts such as Wawasan 2020, ASM etc seem to be giving a satisfactory and consistent yield and cannot be ignored.

Noticeably missing from my list is property. Whilst property is a good hedge against inflation and often provide good capital gain, and sometimes apparently reasonable yield, I find too much hassle involved in property as in


investment. On the surface, things appear good. Rent out your property, sit back and collect revenue from rentals every month. In reality, this act is spiked by many problems. And tenants will not hesitate to spook the landlord on the slightest of problem. To top it up, that is IF the tenant dont play havoc with your rentals! Hence, my take is if one wish to invest in property, it be for other objectives like maybe for your retirement residence or perhaps as a present to your son etc. But as an investment per se, not for me.
Mind you, this is strictly my view. I appreciate that many would vehemently oppose me on that view.

Happy investing millionaire wyshin88 !!
:D :D :D

CS Chua
24-09-2009, 11:18 PM
Alamak, people ask "....what will you guys do to make the money grow if you have RM 1 million sitting in the bank FD now" and you say you would move to Spore. How would that may his money grow????

In any case, your RM1m going to become S$400. You instead will be poorer technically!

Luckily I am not marking your papers....otherwise kena fail lah! Hahaha!!
Actually the thread title is "What will you do if you have RM1 million in cash?"

For me, 10% goes to God.
Another 10% goes equally to all my siblings.
Another 10% goes to charity.
I will use the balance to pay off my loan on the house I am living.
And whatever is left, use it to buy another property.

klutch
24-09-2009, 11:50 PM
You don't really need 1 million to move to Singapore, brader. Have a good 5 years solid work experience, a good degree (Masters got better still...) and below 42, you can go there and make your millions... in SGD currency summore! Oh you need the complete list of headhunters there to help place you in a good job / company and then your PR is assured... later they will invite you to learn to sing... Majulah Singapura!

Thanks Sentinel 4 the TIP... will remember this for future use. :cool:


Alamak, people ask "....what will you guys do to make the money grow if you have RM 1 million sitting in the bank FD now" and you say you would move to Spore. How would that may his money grow????

In any case, your RM1m going to become S$400. You instead will be poorer technically!

Luckily I am not marking your papers....otherwise kena fail lah! Hahaha!!

Silap komen, mintak maaf for deviating :D


Singapore is not a cheap place to live or retire.Sure the quality of life here is good, but there are many other places in the world that could be better.

If you are a tourist, dont just compare life of locals as if they go Orchard Road everyday...try going to heartland coffeeshops and u can see how some of the locals are suffering..

Duly noted, but with SGD400,000.00 (Lots of Zeros!!! :D); I wouldn't be suffering too much + I'll still work to support myself. ;)

zinglicious
25-09-2009, 04:14 AM
10% to adver " Nice MSG??? or Good Body???
10% to build buy more equipments.
10% to get more cooking stuff.
10% to get more serving staff.
10% to get more cycles or trucks

50% to get ready for second Zinglicious restaurant.

1 million to be spent on fiscal year 2010.

100 million to be sold on fiscal year 2020 if and when franchising Zinglicious worldwide is successful.

How I spend the whole 100 million afterwhich would continue when someone open a new thread " what would you do with 100 million in 2020? " ;)

patling63
25-09-2009, 08:42 AM
If I had a million, I would put RM200k in each of my 3 children's education funds. The remainder RM300k will go to my retirement fund.

As for the rest(RM100k), some for wife, some for charity and some for my personal indulgences. :)

Rhiga
25-09-2009, 09:35 AM
I would just move to Singapore, & start a brand new life there. At least, I will have a better quality of life...!

Better quality of life for law-abiding citizens in terms of safety, trusted law enforcement, metropolitan city life…Yes, you are right.

But with the same amount of money, you can enjoy better quality of life in terms of material aspects like accommodation, car, food, healthcare, etc in bolehland.

That’s the reason many still stick around here (including some of the forumers, I think) instead of moving to Sg.

Cheers

tbearer
25-09-2009, 09:53 AM
borrow thread.

my friends and i were discussing this matter the other day.

Which is a better option?

To put RM in Foreign Currency (SGD) FD (thought of opening in Public Bank) or to open Bank ac in Singapore?

The objective is for wealth preservation, not for interest rate.

By opening bank ac in Spore, will interest be taxable when it is remitted back to msia (if remit)? Thought of just opening a savings ac/FD in Spore and let it stand there.

We couldnt come to a conclusion as both of us are not well versed with the rates and taxation.

Feedback please. Thanks.

SingaporeEhSai!
25-09-2009, 10:43 AM
borrow thread.

my friends and i were discussing this matter the other day.

Which is a better option?

To put RM in Foreign Currency (SGD) FD (thought of opening in Public Bank) or to open Bank ac in Singapore?

The objective is for wealth preservation, not for interest rate.

By opening bank ac in Spore, will interest be taxable when it is remitted back to msia (if remit)? Thought of just opening a savings ac/FD in Spore and let it stand there.

We couldnt come to a conclusion as both of us are not well versed with the rates and taxation.

Feedback please. Thanks.

FD rates in spore is really baddddddd....Think low 1 pct....come to think of it, i dont have any FD in spore...

AllUrban
25-09-2009, 10:46 AM
I would start a scholarship fund for underprivileged kids...maybe tie it to the home that Sentinel is working to set up.

Cheers, m

cypaq
25-09-2009, 10:48 AM
Actually the sum has now being raised to RM100,000 - so keep many RM100K accounts la with interest redirected to your current account for pocket money expenditure or later investment ... so simple


Actually for 2009, tax on interest income received by individuals from moneys deposited in all approved institutions are fully exempted.

kwchang
25-09-2009, 10:57 AM
Actually for 2009, tax on interest income received by individuals from moneys deposited in all approved institutions are fully exempted.
Ah so .. thank you ... am so out of touch these days ;)

patrick
25-09-2009, 12:46 PM
Actually for 2009, tax on interest income received by individuals from moneys deposited in all approved institutions are fully exempted.

All approved institutions include banks in Spore or other countries???

cypaq
25-09-2009, 01:13 PM
All approved institutions include banks in Spore or other countries???

Approved institutions here refers to those in Malaysia. Interest earned in banks in other countries are subjected to the laws of those countries.

Anyway, income arising from sources outside M'sia and received in M'sia by any person (other than companies in banking, insurance, shipping and air transport) are exempt from taxes.