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Wednesday, March 12, 2008

How can I get 80k by just saving RM100 every month.

Last year, I have invested in one mutual fund called Public China Ittikal Fund managed by highly acclaimed Public Mutual Bhd. Last night I try to draw the illustration of 20 years of investment to see how my money growth in that period.

Below is the table of 20 years of investment with the interest rate is considered constant 10% every year.
Why 20 years?
My previous post, I’ve stated that my goal is only 12 years of investment. But now I think 20 years is a good measurement for a long-term goal and I believe it is the best for me for not to take out that money before it hits 20. With an increment of RM 1200 deposit every year, I can get over RM80,000 when I’m 43 year-old.

What do you need to get RM80k in 20 years?
I need a steady saving of RM100 every month without a miss to get RM1200 in a year. It also needs discipline and strict budget. It’s not easy to wait for 20 years of investment; it requires patience in my heart to get over my greed to fulfil my goal.

Will the interest rate goes 10% every year?
No. It is only the drawings of 20 years of my investment with 10% steady interest rate. We should be well informed that the interest rate will go up and down throughout the years. Let’s hope it will give us the average of 10% every year.

PCIF is the favourable mutual fund in Malaysia. See why I chose PCIF as my first investment.


Haikal 3/12/2008 9:34 PM  

ok..great article.. thanks.

shamsul 3/12/2008 9:35 PM  

I guess I wanna save some money in public mutual fund.

Sen Hee 3/15/2008 9:41 PM  

you can see the miracle of compounding interest.

Rees 3/15/2008 10:15 PM  

nice I know where to invest..

Teheran 3/15/2008 10:16 PM  

My opinion is that you should increase deposit every 5 years so could earn optimum return.

mij 3/22/2008 10:04 AM  

remarkably astonishing that I am convinced to start up some kind of investment now, thanx!

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