If someone told me 5 years ago that I would be able to saved up this much at this age (29) I would say they are liars. Thank God and my company for the opportunity, I had manage to saved up 120+k in ASB (Bumi) within 12 months during the Inpat period, not including EPF. While my early goal is to purchase a house (first house), after researching more on the pros/cons of owning a house vs renting, area comparison, property types and financing type..I have more dilemma and questions than the start. I feel reluctant to withdraw a big lump sum to pay house DP (after saving up this hard!) and lose the ability of earning dividen on top of that withdrawal, so naturally I found out that one can use pledge/collateral instead of withdrawal. Which instead of taking out, say 10% (50k) for a 500k property, I could pledge that amount to Bank, while Bank will charge some interest on that amount..something like that. As long as ASB dividen stays higher than the pledge rate, technically I’m still profiting on the DP amount. Does anyone have experience with this method in Malaysia? I actually just found out about it and not much info out there regarding this financing method.
Also I did look into diversifying my investment to other stuff (via MooMoo account) but eventually I realized ASB is still has the most stable and pretty good ROI than others. End up I’m just locking the savings in ASB for now, and buying up gold every now and then.