HOW TO INVEST IN ASB (
The Steps:
1. Don’t Calculate how much bank is earning. It is bank’s money of course they have to make some money. You get ‘0′ if keep on thinking about that. You focus on what you earn, end up a win-win situation.
2. Borrow with MAXIMUM Loan Tenure so that your monthly payment will be MINIMUM. Example now bank is offering 20 years and take 20 years.
3.Chose bank that offering Consistent monthly payment regardless BLR is up or down. Alternativel bank will play at loan tenure. eg 20years may become 21 yrs if BLR going up
4. Dont take too many at one go. The purpose is to help the low & moderate income to have long term saving. Take such as RM10k for 20 years, BUT REPEAT EVERY YEAR.
Example
YEAR 1, you take loan 1 at RM10k for 20yrs and monthly payment is about RM74 per month. You serve payment for 12 month and get Dividend say RM800 at the end of the year( amount based of past 10yr record) So you use all RM 800 to pay upfront year 2 which can cover 11 months advance. And 1month only you using your money. Loan 1 can be independent if you repeat payment until Year 20.
Year 2, take another RM10k for 20 yrs. Same amount pay RM74 per month to cover loan 2 for 12 months.. Remember LOAN 1 already adv payout using dividend.. So no problem to have 2 Loans. Still pay RM74 per month. End of the year. Take all dividends to payout Advance Loan 1 & Loan 2.
Year 3, repeat step and take another RM10k for 20yrs.
At the end of 10 years..
1. You have 10 of RM10k policy RM 100,000 by saving consistently only RM74/mth.. Even a cleaner worker can afford this.
2. Your oldest policy already 10 years.. if you desperate, you can Let it go.. Bank will settle the loan and return to me the balance. Guess how much?? it will worth about RM 4500. How much you pay for that? RM74 x 12 moths ++ RM50 registration fee only.
3. After 20 year, every year you will pick RM10k.
