Let’s Talk About Savings When You are Older 

When speaking about old age, this issue can indirectly worry everyone, especially those who have reached the age of 50 years. Many things could happen. 

 

At that time, various things can happen such as health problems, the possibility of the death of a wife or husband, children living far away, running out of savings or not being able to work as usual.

Therefore, money and savings is crucial. We cannot simply rely on people’s help or our children’s care. They have their own commitment as well. In this post, there are some alternatives where you could save your money. Savings is crucial for later days, remember that. 

 

  1. Unit Trust (UT) or Unit Amanah

 

First and foremost, let’s talk about investing in Unit Trust. This is something people rarely do and don’t know about UT investing. Of all the investment places, this is arguably the best platform for you.

Usually the goal set for this type of savings is long -term. Maybe you are familiar with ASB. So, ASB is also a unit trust but for the short term. Ideally there should be a consultant who monitors your account. This consultant who will be an advisor for you when the time is right to add investment to further expand your money.

 

  1. Real Estate Investment

 

Quite risky but if anyone has solid knowledge and is willing to invest in this platform believe me it gives high returns. So, before you venture into this real estate investment make sure there is knowledge about it so that there is no loss later on.

In fact, there is a lot of free financial advice you can consult to learn how to save money or invest. Join a Facebook group, watch YouTube videos or the latest trend is to listen to conversations at the Clubhouse. It depends on which platform you prefer. Promise you learn to save or invest from now on so that you have strong finances on retirement day.

You don’t have to invest in just real estate, it could even be in crypto so stick to latest cryptocurrency news. Watch and read more regarding real estate investment. 

 

  1. Robo-Advisor (Newest and Latest)

What is a Robo-Advisor? Robo-Advisor is a program that automatically manages its users’ investment portfolios. Programs like these typically use algorithms, mathematics and artificial intelligence (AI) to determine which assets will be in them.

 

It automatically creates a portfolio for you based on your investment goals and potential risks and balances them on a regular basis.

 

Usually, Malaysian robo advisors will use your money to invest in exchange traded funds (ETFs), which are groups of bonds or other investments.

 

However, each robo-advisor uses a different investment methodology/way, i.e. the basic investment and allocation of your portfolio will be different based on the robo-advisor platform invested. As of June 2020, there is only 1 robo-advisor with shariah-compliant status in Malaysia, namely Wahed Invest.

 

This article is written by Direct Lending – a licensed bank & cooperative personal loan platform and money lending. We can help you find, compare & apply for the loan that best suits you. Check your eligibility for free & get a loan as low as 2.75% or as fast as 2 working days.

 

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