How To Grow forex traders in malaysia For Your Retirement

Saving your money is a good way to protect yourself from the future. However, if you would like to grow your income or make a passive income, you should consider investing. There are many benefits when it comes to investing such as creating a cushion for yourself in case your first job fails or just making a little more money for the future or when in emergency. Here are some ways on how you can grow your money for your retirement.

Put into a high yield savings account. You can always invest your money whilst leaving it in a savings account but you should be wary about the interest you can accumulate from these accounts per year. Most banks offer an interest rate of about 0.2%- 0.5% per year, which is not a lot. If you do your research properly though, you can earn a higher interest rate at certain banks for about 1.0 percentage or more per year. This only happens in a handful of banks so research every bank you know of before becoming acquainted with the said bank.

Invest your money in foreign exchange. Go to a forex Malaysia site and put some money you’ve saved up in there to start investing. You should learn about the current market and the stability of the currencies you’re trading into before completely investing in them. Investing into FOREX is a very common thing these days and there are sites that allow you to do it from an app as well. Trading of these sorts are very high risks for those with no financial literacy and one could lose all their money If they do not pull their cash out in time before a crash occurs.

Next you can also try out investing in stocks and bonds. Malaysia is home to some of the most affordable stocks and bonds that can be bought on Bursa Malaysia. Some stocks even go as low as RM100. To those who are aware of rising and falling companies and are very updated about the business and commerce news in Malaysia, this is the right place for you. Just know that, if you’re planning to buy stocks in a bank, you should buy about a hundred stocks minimum for each company you’re planning to invest in. It may seem shocking as to why one should buy 100 stocks but rest assured, it is all well worth it.

If you’re retiring and if you’re from Malaysia, start putting your money away in your EPF account or better known as KWSP. EPF allows for individuals, employees or employers to save up for their retirement from the age of 14. You can open up an account from the online EPF or just register at your nearest EPF branch to start saving for your future. If you’re an employee, you can ensure your employer matches up to your contribution so that you have a more stable future. That employer match up is essentially free money flowing into your account. Take advantage of what you can.

There you go. How you can ensure you have a smooth and stable life after your retirement. Just make sure you don’t gamble your money all in one day after your retirement. Have a good future ahead and happy planning.

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