{"id":3874,"date":"2020-12-18T02:02:37","date_gmt":"2020-12-18T02:02:37","guid":{"rendered":"https:\/\/www.ibpo.com.my\/?p=3874"},"modified":"2024-12-03T03:01:46","modified_gmt":"2024-12-03T03:01:46","slug":"how-to-accumulate-wealth-as-a-malaysian","status":"publish","type":"post","link":"https:\/\/www.ibpo.com.my\/bm\/how-to-accumulate-wealth-as-a-malaysian\/","title":{"rendered":"How to Accumulate Wealth as a Malaysian"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"3874\" class=\"elementor elementor-3874\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-603aae4 elementor-section-full_width xts-section-stretch-content elementor-section-height-default elementor-section-height-default\" data-id=\"603aae4\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-513a4fa\" data-id=\"513a4fa\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-1436404 elementor-widget elementor-widget-html\" data-id=\"1436404\" data-element_type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t[xts_html_block id=\"3506\"]\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-86c14ad elementor-section-full_width elementor-section-height-default elementor-section-height-default xts-section-disabled\" data-id=\"86c14ad\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-5c446df\" data-id=\"5c446df\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-a1e5a17 elementor-widget elementor-widget-shortcode\" data-id=\"a1e5a17\" data-element_type=\"widget\" data-widget_type=\"shortcode.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-shortcode\">\t<div class=\"ibpo-articles xts-single-post-header\">\r\n\t\t<div class=\"xts-post-meta\">\r\n\t\t\t\t\t\t\t\t\t\t<div class=\"xts-post-categories\">\n\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t<a  class=\"xts-post-category\" href=\"https:\/\/www.ibpo.com.my\/bm\/category\/articles\/\" rel=\"category tag\">\n\t\t\t\t\t\tArticles\t\t\t\t\t<\/a>\n\n\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t<a  class=\"xts-post-category\" href=\"https:\/\/www.ibpo.com.my\/bm\/category\/articles\/personal-finance\/\" rel=\"category tag\">\n\t\t\t\t\t\tPersonal Finance\t\t\t\t\t<\/a>\n\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<div class=\"xts-post-date\">\n\t\t\t\t\t\t\t<time class=\"published\" datetime=\"2020-12-18T02:02:37+00:00\">\n\t\t\t\t\t18 Disember 2020\t\t\t\t<\/time>\n\t\t\t\t<time class=\"updated\" datetime=\"2024-12-03T03:01:46+00:00\">\n\t\t\t\t\t3 Disember 2024\t\t\t\t<\/time>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\r\n\r\n\r\n\t<\/div>\r\n\r\n\t\t\t<h1 class=\"ibpo-articles xts-post-title xts-entities-title\">\r\n\t\t\t\tHow to Accumulate Wealth as a Malaysian\t\t\t\t<\/h1>\r\n\t\t\r\n\r\n\r\n\t\r\n<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-60bed14 xts-scheme-inherit xts-textalign-inherit elementor-widget elementor-widget-text-editor\" data-id=\"60bed14\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.23.0 - 23-07-2024 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<div class=\"vc_row wpb_row vc_row-fluid\"><div class=\"wpb_column vc_column_container vc_col-sm-12\"><div class=\"vc_column-inner\"><div class=\"wpb_wrapper\"><div class=\"wpb_text_column wpb_content_element \"><div class=\"wpb_wrapper\"><div class=\"vc_row wpb_row vc_row-fluid\"><div class=\"wpb_column vc_column_container vc_col-sm-12\"><div class=\"vc_column-inner\"><div class=\"wpb_wrapper\"><div class=\"wpb_text_column wpb_content_element \"><div class=\"wpb_wrapper\"><div class=\"vc_row wpb_row vc_row-fluid\"><div class=\"wpb_column vc_column_container vc_col-sm-12\"><div class=\"vc_column-inner\"><div class=\"wpb_wrapper\"><div class=\"wpb_text_column wpb_content_element \"><div class=\"wpb_wrapper\"><div class=\"vc_row wpb_row vc_row-fluid\"><div class=\"wpb_column vc_column_container vc_col-sm-12\"><div class=\"vc_column-inner\"><div class=\"wpb_wrapper\"><div class=\"wpb_text_column wpb_content_element \"><div class=\"wpb_wrapper\"><div class=\"vc_row wpb_row vc_row-fluid\"><div class=\"wpb_column vc_column_container vc_col-sm-12\"><div class=\"vc_column-inner\"><div class=\"wpb_wrapper\"><div class=\"wpb_text_column wpb_content_element \"><div class=\"wpb_wrapper\"><div class=\"vc_row wpb_row vc_row-fluid\"><div class=\"wpb_column vc_column_container vc_col-sm-12\"><div class=\"vc_column-inner\"><div class=\"wpb_wrapper\"><div class=\"wpb_text_column wpb_content_element \"><div class=\"wpb_wrapper\"><div class=\"vc_row wpb_row vc_row-fluid\"><div class=\"wpb_column vc_column_container vc_col-sm-12\"><div class=\"vc_column-inner\"><div class=\"wpb_wrapper\"><div class=\"wpb_text_column wpb_content_element \"><div class=\"wpb_wrapper\"><div class=\"vc_row wpb_row vc_row-fluid\"><div class=\"wpb_column vc_column_container vc_col-sm-12\"><div class=\"vc_column-inner\"><div class=\"wpb_wrapper\"><div class=\"wpb_text_column wpb_content_element \"><div class=\"wpb_wrapper\"><div class=\"vc_row wpb_row vc_row-fluid\"><div class=\"wpb_column vc_column_container vc_col-sm-12\"><div class=\"vc_column-inner\"><div class=\"wpb_wrapper\"><div class=\"wpb_text_column wpb_content_element \"><div class=\"wpb_wrapper\"><div class=\"vc_row wpb_row vc_row-fluid\"><div class=\"wpb_column vc_column_container vc_col-sm-12\"><div class=\"vc_column-inner\"><div class=\"wpb_wrapper\"><div class=\"wpb_text_column wpb_content_element \"><div class=\"wpb_wrapper\"><div class=\"vc_row wpb_row vc_row-fluid\"><div class=\"wpb_column vc_column_container vc_col-sm-12\"><div class=\"vc_column-inner\"><div class=\"wpb_wrapper\"><div class=\"wpb_text_column wpb_content_element \"><div class=\"wpb_wrapper\"><p>Before we proceed, I need to clarify that this is, in\u00a0<strong>no way a\u00a0<em>\u201cget rich quick\u201d<\/em>\u00a0scheme<\/strong>\u00a0for you to be the next\u00a0<em>Robert Kuok<\/em>. With that out of the way, I am pretty sure everybody has felt the impact of\u00a0<em>MCO<\/em>. You might\u2019ve\u00a0<em>lost your job<\/em>, been in\u00a0<em>huge debts<\/em>, or are\u00a0<em>barely able to feed your family<\/em>\u00a0due to the\u00a0<strong>lack of income and savings<\/strong>.\u00a0<\/p><p>For once, you may feel\u00a0<strong>financially vulnerable<\/strong>\u00a0whether you are\u00a0<em>an average salaryman<\/em>\u00a0or\u00a0<em>a successful entrepreneur<\/em>.\u00a0<\/p><p>Hence, I urge my fellow Malaysians to\u00a0<strong>start accumulating your wealth<\/strong>\u00a0and\u00a0<strong>be financially secure<\/strong>\u00a0so you won\u2019t be in that situation ever again \u2013\u00a0<em>even if, God forbids, another pandemic happens<\/em>.<\/p><h3><b>Where to Start?<\/b><\/h3><p>Even if you\u2019re not earning a whole lot currently, don\u2019t worry, wealth accumulation is not all about how much you earn but more about\u00a0<strong>how you use what you are currently earning<\/strong>.<\/p><h2><b>Set Up Your Foundation<\/b><\/h2><p>No matter how many methods you practice to build wealth,\u00a0<strong>it won\u2019t work unless you build yourself a\u00a0<em>solid foundation<\/em><\/strong>\u00a0to wealth accumulation.\u00a0<em>Like building a house<\/em>, you don\u2019t start with buying yourself fancy furniture before laying the bricks.<\/p><h3><strong>1. Stop Spending So Much<\/strong><\/h3><div id=\"attachment_1674\" class=\"wp-caption aligncenter\"><p><img fetchpriority=\"high\" decoding=\"async\" class=\"aligncenter wp-image-1674 size-medium\" src=\"https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/enjoying-day-shopping-300x200.jpg\" sizes=\"(max-width: 300px) 100vw, 300px\" srcset=\"https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/enjoying-day-shopping-300x200.jpg 300w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/enjoying-day-shopping-1024x683.jpg 1024w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/enjoying-day-shopping-768x513.jpg 768w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/enjoying-day-shopping-1536x1025.jpg 1536w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/enjoying-day-shopping-2048x1367.jpg 2048w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/enjoying-day-shopping-219x146.jpg 219w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/enjoying-day-shopping-50x33.jpg 50w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/enjoying-day-shopping-112x75.jpg 112w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/enjoying-day-shopping-750x501.jpg 750w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/enjoying-day-shopping-1140x761.jpg 1140w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/enjoying-day-shopping-scaled.jpg 1920w\" alt=\"Portrait of Vietnamese young woman with shopping bags walking in mall\" width=\"300\" height=\"200\" aria-describedby=\"caption-attachment-1674\" \/><\/p><p id=\"caption-attachment-1674\" class=\"wp-caption-text\">Designed by<a href=\"https:\/\/www.freepik.com\/photos\/sale\">Freepik<\/a><\/p><\/div><blockquote><p>That man is the richest whose pleasures are the cheapest. \u2013 Henry David Thoreau<\/p><\/blockquote><p>As Henry David Thoreau once said,\u00a0<em>\u201cThat man is the richest whose pleasures are the cheapest.\u201d<\/em>\u00a0This quote\u00a0<strong>defines building wealth<\/strong>\u00a0so great that it\u00a0<em>sends shivers down my spine<\/em>.<\/p><p>What Henry is implying though is that the wealthy would not splurge on their pleasures without contemplating the future. The\u00a0<em>lower your current expenses,<\/em>\u00a0the\u00a0<em>more wealth you can accumulate<\/em>\u00a0through time.<\/p><p>You won\u2019t have money to save and invest if you\u2019ve already spent it all now.\u00a0<strong>No money to work for you equals no wealth; equals no good.<\/strong><\/p><h3><strong>2. Save on Your Car<\/strong><\/h3><p><img decoding=\"async\" class=\"aligncenter wp-image-1677 size-medium\" src=\"https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/beautiful-asian-woman-buying-car-showroom-min-300x200.jpg\" sizes=\"(max-width: 300px) 100vw, 300px\" srcset=\"https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/beautiful-asian-woman-buying-car-showroom-min-300x200.jpg 300w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/beautiful-asian-woman-buying-car-showroom-min-1024x683.jpg 1024w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/beautiful-asian-woman-buying-car-showroom-min-768x512.jpg 768w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/beautiful-asian-woman-buying-car-showroom-min-1536x1024.jpg 1536w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/beautiful-asian-woman-buying-car-showroom-min-2048x1365.jpg 2048w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/beautiful-asian-woman-buying-car-showroom-min-219x146.jpg 219w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/beautiful-asian-woman-buying-car-showroom-min-50x33.jpg 50w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/beautiful-asian-woman-buying-car-showroom-min-113x75.jpg 113w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/beautiful-asian-woman-buying-car-showroom-min-750x500.jpg 750w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/beautiful-asian-woman-buying-car-showroom-min-1140x760.jpg 1140w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/beautiful-asian-woman-buying-car-showroom-min-scaled.jpg 1920w\" alt=\"Beautiful Asian Woman Buying Car Showroom\" width=\"300\" height=\"200\" \/><\/p><p>Almost everyone has a car in Malaysia, even\u00a0<em>some 17-year olds in secondary school<\/em>. What if I told you that buying a car\u00a0<strong>can be one of your biggest financial blunders<\/strong>, even if it\u2019s cheap as rag?<\/p><p>You may ask\u00a0<em>\u201cYeah, but how am I going to go anywhere or do anything in Malaysia?\u201d<\/em>\u00a0I agree, unfortunately, a car\u00a0<em>might be a necessity<\/em>, but you can still\u00a0<strong>be smart with your vehicle purchase<\/strong>.<\/p><p>For starters, make sure you\u00a0<strong>do proper research<\/strong>\u00a0into\u00a0<em>car loans<\/em>,\u00a0<em>car specifications<\/em>\u00a0and\u00a0<em>other expenses<\/em>\u00a0before opting for a loan. Car loans can be very expensive and your money won\u2019t be worth it as cars are\u00a0<a href=\"https:\/\/www.confused.com\/buy-a-car\/tips-for-buying\/what-is-car-depreciation\" target=\"_blank\" rel=\"noopener noreferrer\"><strong>depreciating assets<\/strong><\/a>\u00a0\u2013 meaning\u00a0<strong>you lose money as soon as you drive out of the dealership<\/strong>.<\/p><p>Hence, save on your car, better yet,\u00a0<em>use public transport<\/em>\u00a0if you live near a train station or bus station. You\u2019ll be surprised to find out that public transport in Malaysia has gotten a lot better.<\/p><h3><strong>3. Save on Your House<\/strong><\/h3><p><img decoding=\"async\" class=\"aligncenter wp-image-1678 size-medium\" src=\"https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/external-view-modern-house-with-pool-dusk-min-300x203.jpg\" sizes=\"(max-width: 300px) 100vw, 300px\" srcset=\"https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/external-view-modern-house-with-pool-dusk-min-300x203.jpg 300w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/external-view-modern-house-with-pool-dusk-min-1024x693.jpg 1024w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/external-view-modern-house-with-pool-dusk-min-768x520.jpg 768w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/external-view-modern-house-with-pool-dusk-min-1536x1040.jpg 1536w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/external-view-modern-house-with-pool-dusk-min-2048x1387.jpg 2048w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/external-view-modern-house-with-pool-dusk-min-216x146.jpg 216w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/external-view-modern-house-with-pool-dusk-min-50x34.jpg 50w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/external-view-modern-house-with-pool-dusk-min-111x75.jpg 111w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/external-view-modern-house-with-pool-dusk-min-750x508.jpg 750w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/external-view-modern-house-with-pool-dusk-min-1140x772.jpg 1140w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/external-view-modern-house-with-pool-dusk-min-scaled.jpg 1920w\" alt=\"External View Modern House With Pool Dusk\" width=\"300\" height=\"203\" \/><\/p><p>If you\u2019re Asian, your parents probably told you to\u00a0<em>buy a house, don\u2019t rent<\/em>. Why rent when you can own a house and have an appreciating asset?\u00a0<em>Perhaps it may not be how things work in this generation.<\/em><\/p><p>Buying a house when you are trying to accumulate wealth can be a bad decision as it\u00a0<strong>ties you up in terms of finance<\/strong>. On top of that, the\u00a0<em>oversupply of residential properties in Malaysia currently<\/em>\u00a0means that your house\u00a0<strong>might not appreciate in value<\/strong>\u00a0as you might\u2019ve expected it to\u00a0<strong>in the short term<\/strong>. Finally, it is very likely you\u00a0<em>won\u2019t live in the house<\/em>\u00a0for\u00a0<em>the duration of the mortgage\u2019s term<\/em>.<\/p><p>Unless you plan to rent it out, both\u00a0<em>your new house<\/em>\u00a0and\u00a0<em>your old house<\/em>\u00a0are going to\u00a0<strong>cost you a ton of money<\/strong>\u00a0\u2013\u00a0<em>house maintenance, contract fees, appraisal fees, you name it<\/em>. If you prefer flexibility,\u00a0<strong>consider renting a house instead<\/strong>,\u00a0<em>even if it means that the rental may be more expensive than a mortgage<\/em>\u00a0payment for similar houses.<\/p><p>For those who\u00a0<strong>already own a house<\/strong>, don\u2019t worry, it doesn\u2019t automatically disqualify you from accumulating wealth. You can set up a\u00a0<strong>stable financial plan<\/strong>\u00a0which aims to\u00a0<strong>pay off your mortgage<\/strong>\u00a0as soon as possible.<\/p><h3><strong>4. Save Your Income<\/strong><\/h3><p>As a rule of thumb, you should\u00a0<strong>always save between 10% to 50% of your income monthly<\/strong>. It\u2019s even better if you\u00a0<em>directly debit your income into your savings account<\/em>\u00a0so you won\u2019t\u00a0<em>\u201caccidentally\u201d<\/em>\u00a0spend them. It can be a necessary sacrifice in the short term.<\/p><p>By saving your income, you\u2019re<em>\u00a0safeguarding yourself<\/em>\u00a0from halting your wealth accumulation process due to unexpected causes such as job loss, accidents, and health concerns. Hence, you should\u00a0<strong>always have 3 to 6 months\u2019 worth of salary saved up<\/strong>\u00a0to prepare for a rainy day.<\/p><p>As an added advantage, your extra savings can be a\u00a0<em>catalyst to your wealth accumulation<\/em>\u00a0process when you start investing.<\/p><h3><strong>5. Get Out of Debt<\/strong><\/h3><p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-1679 size-medium\" src=\"https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/top-view-woman-hands-cutting-paper-with-word-debt-written-it-min-300x200.jpg\" sizes=\"(max-width: 300px) 100vw, 300px\" srcset=\"https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/top-view-woman-hands-cutting-paper-with-word-debt-written-it-min-300x200.jpg 300w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/top-view-woman-hands-cutting-paper-with-word-debt-written-it-min-1024x683.jpg 1024w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/top-view-woman-hands-cutting-paper-with-word-debt-written-it-min-768x512.jpg 768w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/top-view-woman-hands-cutting-paper-with-word-debt-written-it-min-1536x1024.jpg 1536w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/top-view-woman-hands-cutting-paper-with-word-debt-written-it-min-2048x1365.jpg 2048w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/top-view-woman-hands-cutting-paper-with-word-debt-written-it-min-219x146.jpg 219w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/top-view-woman-hands-cutting-paper-with-word-debt-written-it-min-50x33.jpg 50w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/top-view-woman-hands-cutting-paper-with-word-debt-written-it-min-113x75.jpg 113w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/top-view-woman-hands-cutting-paper-with-word-debt-written-it-min-750x500.jpg 750w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/top-view-woman-hands-cutting-paper-with-word-debt-written-it-min-1140x760.jpg 1140w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/top-view-woman-hands-cutting-paper-with-word-debt-written-it-min-scaled.jpg 1920w\" alt=\"Top View Woman Hands Cutting Paper With Word Debt Written It Min\" width=\"300\" height=\"200\" \/><\/p><p><strong>Have debts? Pay it off first<\/strong>, primarily those with\u00a0<em>higher interest rates<\/em>\u00a0such as credit card debts and personal loans. You won\u2019t have money left to invest for yourself if it\u2019s constantly leaking towards installments and interest payments.<\/p><p>Try the\u00a0<a href=\"https:\/\/www.daveramsey.com\/blog\/how-the-debt-snowball-method-works#:~:text=be%20debt-free%3F-,How%20Does%20the%20Debt%20Snowball%20Method%20Work%3F,into%20the%20next%20smallest%20balance.\" target=\"_blank\" rel=\"noopener noreferrer\">debt snowball method<\/a>\u00a0to pay off your debt.<\/p><p>Alternatively, you can try enrolling yourself in a\u00a0debt management program\u00a0if you find your debts unmanageable,\u00a0<strong>but only use this as your last resort<\/strong>.<\/p><h3><strong>6. Your Mindset<\/strong><\/h3><div id=\"attachment_1680\" class=\"wp-caption aligncenter\"><p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-1680 size-medium\" src=\"https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/top-view-letter-cubes-arrangement-300x169.jpg\" sizes=\"(max-width: 300px) 100vw, 300px\" srcset=\"https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/top-view-letter-cubes-arrangement-300x169.jpg 300w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/top-view-letter-cubes-arrangement-1024x576.jpg 1024w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/top-view-letter-cubes-arrangement-768x432.jpg 768w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/top-view-letter-cubes-arrangement-1536x864.jpg 1536w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/top-view-letter-cubes-arrangement-2048x1152.jpg 2048w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/top-view-letter-cubes-arrangement-260x146.jpg 260w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/top-view-letter-cubes-arrangement-50x28.jpg 50w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/top-view-letter-cubes-arrangement-133x75.jpg 133w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/top-view-letter-cubes-arrangement-1200x675.jpg 1200w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/top-view-letter-cubes-arrangement-750x422.jpg 750w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/top-view-letter-cubes-arrangement-1140x641.jpg 1140w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/top-view-letter-cubes-arrangement-scaled.jpg 1920w\" alt=\"Top View Letter Cubes Arrangement\" width=\"300\" height=\"169\" aria-describedby=\"caption-attachment-1680\" \/><\/p><p id=\"caption-attachment-1680\" class=\"wp-caption-text\">\u201cI\u2019m Possible!\u201d<\/p><\/div><p>If you constantly tell yourself that you\u2019re poor, you will be poor and you will stay that way.\u00a0<strong>Wealth does not come without a proper mindset.<\/strong>\u00a0This is especially important as people always say your\u00a0<em>mindset determines your wealth<\/em>\u00a0\u2013 and\u00a0<strong>99% of the time it\u2019s true<\/strong>.<\/p><p>What\u2019s the first step of developing a wealthy mindset? First, you gotta work hard. If you think you can achieve wealth by slacking, then I have some bad news for you. You should\u00a0<strong>always put in 110% effort into whatever you do<\/strong>, even if your job is boring. Doing so sets you up for a correct mindset as you\u2019ll find that other qualities of a wealthy mindset will come to you naturally.<\/p><p>Don\u2019t forget to\u00a0<strong>take some time off to enrich yourself<\/strong>\u00a0by doing things you love such as reading a book, have a night out with your friends or staying home for a gaming session.<\/p><p>Working around the clock not only drains you of your energy but also dulls your senses which can negatively affect your mindset.\u00a0<strong>Stay sharp and focused on your goal<\/strong>\u00a0of achieving wealth and you will get there in no time.<\/p><h2><b>What to Do?<\/b><\/h2><p>Now that you\u2019ve learnt how to set up a good foundation for wealth creation, it\u2019s time to put it into practical terms.<\/p><h3><b>1. Retirement Fund<\/b><\/h3><p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-1669 size-medium\" src=\"https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/old-couple-figure-standing-top-coin-stack-with-city-backgrounds-300x195.jpg\" sizes=\"(max-width: 300px) 100vw, 300px\" srcset=\"https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/old-couple-figure-standing-top-coin-stack-with-city-backgrounds-300x195.jpg 300w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/old-couple-figure-standing-top-coin-stack-with-city-backgrounds-1024x666.jpg 1024w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/old-couple-figure-standing-top-coin-stack-with-city-backgrounds-768x500.jpg 768w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/old-couple-figure-standing-top-coin-stack-with-city-backgrounds-1536x999.jpg 1536w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/old-couple-figure-standing-top-coin-stack-with-city-backgrounds-2048x1333.jpg 2048w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/old-couple-figure-standing-top-coin-stack-with-city-backgrounds-224x146.jpg 224w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/old-couple-figure-standing-top-coin-stack-with-city-backgrounds-50x33.jpg 50w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/old-couple-figure-standing-top-coin-stack-with-city-backgrounds-115x75.jpg 115w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/old-couple-figure-standing-top-coin-stack-with-city-backgrounds-750x488.jpg 750w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/old-couple-figure-standing-top-coin-stack-with-city-backgrounds-1140x742.jpg 1140w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/old-couple-figure-standing-top-coin-stack-with-city-backgrounds-scaled.jpg 1920w\" alt=\"Old Couple Figure Standing Top Coin Stack With City Backgrounds\" width=\"300\" height=\"195\" \/><\/p><p><em>\u201cWhy do I even need to think about investing in my retirement fund? I am not even old.\u201d<\/em>\u00a0That\u2019s a\u00a0<strong>common misconception<\/strong>\u00a0for the purpose of having a retirement fund.<\/p><p>You see, retirement funds provide compound interests in your investments and\u00a0<strong>starting early is the key to building wealth<\/strong>. For instance, even if you invest a\u00a0<em>mere RM200 per month for 10 years<\/em>, with today\u2019s interest rate for investment schemes you can\u00a0<strong>easily earn up to RM10,000 in profit<\/strong>.\u00a0 That\u2019s\u00a0<em>without factoring in your total contributions<\/em>\u00a0over the years which is RM24,000, bringing your\u00a0<strong>total savings up to RM34,000<\/strong>.<\/p><p>For Malaysians, as soon as you start working, an EPF account should already be opened for you through\u00a0<a href=\"https:\/\/www.kwsp.gov.my\/\" target=\"_blank\" rel=\"noopener noreferrer\">KWSP<\/a>. That way your income will be automatically deducted from you and subsequently put in your EPF account.<\/p><p>Of course, just\u00a0<strong>having an EPF is not enough<\/strong>, you can opt for a\u00a0<em>private retirement scheme (PRS)<\/em>\u00a0to supplement your needs. Most PRS offer\u00a0<strong>higher rates of returns<\/strong>\u00a0for your investments and you can\u00a0<strong>benefit more if you start early<\/strong>.\u00a0<em>Speaking of benefits<\/em>, you should\u00a0<strong>check out what benefits you are entitled to<\/strong>\u00a0with a\u00a0<strong>good retirement plan!<\/strong><\/p><p>Do approach a financial advisor or any financial institutions to find out more about PRS if you are unsure how to start.<\/p><h3><b>2. Investments<\/b><\/h3><p>It\u2019s essential for any individual who wishes to build wealth to invest. There are\u00a0<strong>various instruments to invest\u00a0<\/strong>such as\u00a0<em>stock trading, mutual funds,\u00a0real estate investment trust, fixed deposit, etc<\/em>. All these methods are collectively known as\u00a0<strong>investment portfolios<\/strong>.<\/p><p>An\u00a0<strong>investment portfolio<\/strong>\u00a0consists of a\u00a0<strong>collection of financial assets<\/strong>\u00a0that are owned by an investor. In simpler terms, a portfolio is like\u00a0<em>a set of houses and businesses<\/em>\u00a0in different locations and different sizes that\u00a0<em>you own and generate your profit<\/em>\u00a0over time \u2013 only that it\u2019s not just physical properties.<\/p><p>Without diving too deep into financial jargons and technicality, we need to know that\u00a0<strong>investments come with risks<\/strong>\u00a0\u2013 which means potential losses. Many investors opt for a\u00a0<em>diverse portfolio<\/em>\u00a0to\u00a0<em>minimise said risks<\/em>\u00a0but you should\u00a0<strong>conduct thorough research into investments<\/strong>\u00a0and learn more about it before committing to it.<\/p><p>Although investing is one of the best means of wealth creation, it is\u00a0<strong>not a rocket ship to immediate riches<\/strong>. You should always\u00a0<em>manage your expectations and invest wisely<\/em>.<\/p><p>If you want to invest but lack the financial knowledge, once again, you can\u00a0<em>reach out to a trusted financial advisor<\/em>\u00a0that can tailor an investment portfolio for you.<\/p><p><strong>The bottom line is don\u2019t expect yourself to be Warren Buffet\u2019s prodigy the moment you start investing.<\/strong><\/p><h3><b>3. Educate Yourself<\/b><\/h3><p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-1681 size-medium\" src=\"https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/scholarships-education-concept-with-graduation-cap-coin-money-saving-grants-education-min-300x186.jpg\" sizes=\"(max-width: 300px) 100vw, 300px\" srcset=\"https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/scholarships-education-concept-with-graduation-cap-coin-money-saving-grants-education-min-300x186.jpg 300w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/scholarships-education-concept-with-graduation-cap-coin-money-saving-grants-education-min-1024x633.jpg 1024w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/scholarships-education-concept-with-graduation-cap-coin-money-saving-grants-education-min-768x475.jpg 768w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/scholarships-education-concept-with-graduation-cap-coin-money-saving-grants-education-min-1536x950.jpg 1536w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/scholarships-education-concept-with-graduation-cap-coin-money-saving-grants-education-min-2048x1267.jpg 2048w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/scholarships-education-concept-with-graduation-cap-coin-money-saving-grants-education-min-236x146.jpg 236w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/scholarships-education-concept-with-graduation-cap-coin-money-saving-grants-education-min-50x31.jpg 50w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/scholarships-education-concept-with-graduation-cap-coin-money-saving-grants-education-min-121x75.jpg 121w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/scholarships-education-concept-with-graduation-cap-coin-money-saving-grants-education-min-750x464.jpg 750w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/scholarships-education-concept-with-graduation-cap-coin-money-saving-grants-education-min-1140x705.jpg 1140w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/scholarships-education-concept-with-graduation-cap-coin-money-saving-grants-education-min-scaled.jpg 1920w\" alt=\"Education is essential for accumulating wealth.\" width=\"300\" height=\"186\" \/><\/p><p><em>\u201cWait, what? This has nothing to do with money.\u201d<\/em>\u00a0No, it does not, but it has a lot to do with the\u00a0<strong>money-making opportunities<\/strong>\u00a0you get through education.<\/p><p>A certification in the industry you excel in provides you recognition and credentials to set you apart from your peers. Although you may not see an immediate financial gain, you should always\u00a0<strong>seek to invest in your education<\/strong>\u00a0to\u00a0<strong>open up more doors of opportunity<\/strong>\u00a0for yourself.<\/p><p>As a popular Chinese saying goes,\u00a0<em>\u201cone is never too old to learn\u201d<\/em>, never stop educating yourself, I guarantee you that you will see the long term benefit.<\/p><h3><b>4. Entrepreneurship<\/b><\/h3><p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-1682 size-medium\" src=\"https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/ambitious-businessman-min-300x200.jpg\" sizes=\"(max-width: 300px) 100vw, 300px\" srcset=\"https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/ambitious-businessman-min-300x200.jpg 300w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/ambitious-businessman-min-1024x683.jpg 1024w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/ambitious-businessman-min-768x513.jpg 768w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/ambitious-businessman-min-1536x1025.jpg 1536w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/ambitious-businessman-min-2048x1367.jpg 2048w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/ambitious-businessman-min-219x146.jpg 219w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/ambitious-businessman-min-50x33.jpg 50w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/ambitious-businessman-min-112x75.jpg 112w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/ambitious-businessman-min-750x501.jpg 750w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/ambitious-businessman-min-1140x761.jpg 1140w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/ambitious-businessman-min-scaled.jpg 1920w\" alt=\"Ambitious Businessman\" width=\"300\" height=\"200\" \/><\/p><p>This method is\u00a0<strong>not for the weak-minded<\/strong>. In this day and age, everybody is encouraging each other to be an entrepreneur, be financially free but nobody acknowledges just how hard it is to succeed being an entrepreneur.<\/p><p>Not to discourage you from venturing into entrepreneurship, just\u00a0<strong>be mindful of the effort it takes to succeed<\/strong>. However, with the correct mindset and expectations venturing into entrepreneurship, you can gain a lot from it other than wealth.<\/p><p>But why venture entrepreneurship? Now, when I was still in college, I noticed that my semester breaks were way too long. What should I do during that downtime? I gathered some friends and started venturing into the digital marketing business.\u00a0<em>Oh boy, it did not go well.<\/em>\u00a0It was\u00a0<strong>extremely hard finding our first client<\/strong>, let alone closing a deal over the first couple of months of operation.<\/p><p>Although we managed to find a client at the start of another semester break,\u00a0<em>(yes, it took us a semester break and a semester to find our first client)<\/em>\u00a0the client only worked with us for 2 months until they decided to move onto another agency. Soon after, we decided to\u00a0<strong>halt our operations and split up<\/strong>.<\/p><p><strong>Money was wasted<\/strong>\u00a0on essential tools and\u00a0<strong>time was wasted<\/strong>\u00a0on finding clients instead of education. But through those experiences, I realised that\u00a0<strong>I never lost anything, I either win or I learn<\/strong>. Start by\u00a0<strong>learning\u00a0how to start a business<\/strong>\u00a0on your own!<\/p><h3><b>5. Insurance<\/b><\/h3><div id=\"attachment_1683\" class=\"wp-caption aligncenter\"><p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-1683 size-medium\" src=\"https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/doctor-filling-up-life-insurance-form-min-300x185.jpg\" sizes=\"(max-width: 300px) 100vw, 300px\" srcset=\"https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/doctor-filling-up-life-insurance-form-min-300x185.jpg 300w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/doctor-filling-up-life-insurance-form-min-1024x631.jpg 1024w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/doctor-filling-up-life-insurance-form-min-768x473.jpg 768w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/doctor-filling-up-life-insurance-form-min-1536x946.jpg 1536w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/doctor-filling-up-life-insurance-form-min-2048x1262.jpg 2048w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/doctor-filling-up-life-insurance-form-min-237x146.jpg 237w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/doctor-filling-up-life-insurance-form-min-50x31.jpg 50w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/doctor-filling-up-life-insurance-form-min-122x75.jpg 122w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/doctor-filling-up-life-insurance-form-min-750x462.jpg 750w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/doctor-filling-up-life-insurance-form-min-1140x702.jpg 1140w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2020\/12\/doctor-filling-up-life-insurance-form-min-scaled.jpg 1920w\" alt=\"Insurance is crucial for wealth accumulation.\" width=\"300\" height=\"185\" aria-describedby=\"caption-attachment-1683\" \/><\/p><p id=\"caption-attachment-1683\" class=\"wp-caption-text\">Designed by<a href=\"https:\/\/www.freepik.com\/photos\/hand\">Freepik<\/a><\/p><\/div><p>Some people view insurance as\u00a0<em>a form of unnecessary expense<\/em>. Why should you pay for something you can cover with emergency savings?\u00a0<strong>Life is unpredictable, sometimes in a bad way.<\/strong><\/p><p>We\u2019ll never know if or when a car accident is going to\u00a0<em>destroy our car beyond repairs<\/em>, or if a\u00a0<em>loved one is going to get hospitalised<\/em>. As much as we hate to admit, we would most likely be\u00a0<strong>unable to cover<\/strong>\u00a0these situations\u00a0<strong>with emergency savings<\/strong>.<\/p><p>That\u2019s where insurance comes in to\u00a0<em>protect your wealth\u2026 and health. (Hah, puns)<\/em>\u00a0Without insurance, the money that you\u2019ve once built up will be gone in an instant to cover for all these unexpected events.<\/p><p>That\u2019s undesirable isn\u2019t it? That\u2019s why you should\u00a0<strong>always include insurance in your financial plans<\/strong>\u00a0regardless of your financial situation.\u00a0<strong>Picking an insurance plan can be a struggle<\/strong>, here\u2019s a\u00a0<strong>guide for you<\/strong>\u00a0to figure it out.<\/p><h2><b>My Ultimate Thoughts on Wealth Accumulation?<\/b><\/h2><p>As Malaysians, we\u00a0<strong>aren\u2019t exactly financially literate<\/strong>\u00a0as our\u00a0<em>education system doesn\u2019t emphasise enough on financial education<\/em>. Most of what we know comes from informal education.<\/p><p>Our ideas of money management are pretty limited to\u00a0<em>saving, saving and saving<\/em>. As a writer for a financial advisory firm, I feel obligated to inform you that\u00a0<strong>wealth accumulation should be started early<\/strong>, especially for us Malaysians who\u2019ve been<em>\u00a0indoctrinated to save perpetually<\/em>.<\/p><p>If you\u00a0<em>read up to this point, congratulations<\/em>, you just\u00a0<strong>took the first step towards accumulating wealth<\/strong>. Now it\u2019s up to you to implement the methods mentioned above in your life to realise your financial dreams!<\/p><p>Looking for a financial advisor to help out?\u00a0<a href=\"https:\/\/www.ibpo.com.my\/contact\/\">Contact us!<\/a><\/p><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>[xts_html_block id=&#8221;3506&#8243;] Before we proceed, I need to clarify that this is, in\u00a0no way a\u00a0\u201cget rich quick\u201d\u00a0scheme\u00a0for you to be the next\u00a0Robert Kuok. With that out of the way, I am pretty sure everybody has felt the impact of\u00a0MCO. You might\u2019ve\u00a0lost your job, been in\u00a0huge debts, or are\u00a0barely able to feed your family\u00a0due to the\u00a0lack [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":3876,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[17,73],"tags":[79,106],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>How to Accumulate Wealth as a Malaysian - IBPO<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ibpo.com.my\/bm\/how-to-accumulate-wealth-as-a-malaysian\/\" \/>\n<meta property=\"og:locale\" content=\"ms_MY\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How to Accumulate Wealth as a Malaysian - IBPO\" \/>\n<meta property=\"og:description\" content=\"[xts_html_block id=&#8221;3506&#8243;] Before we proceed, I need to clarify that this is, in\u00a0no way a\u00a0\u201cget rich quick\u201d\u00a0scheme\u00a0for you to be the next\u00a0Robert Kuok. With that out of the way, I am pretty sure everybody has felt the impact of\u00a0MCO. You might\u2019ve\u00a0lost your job, been in\u00a0huge debts, or are\u00a0barely able to feed your family\u00a0due to the\u00a0lack [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.ibpo.com.my\/bm\/how-to-accumulate-wealth-as-a-malaysian\/\" \/>\n<meta property=\"og:site_name\" content=\"IBPO\" \/>\n<meta property=\"article:published_time\" content=\"2020-12-18T02:02:37+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-12-03T03:01:46+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2023\/10\/woman-hand-adding-coins-pile-1-1024x536-2.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"536\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"ibpoAdmin@0\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"ibpoAdmin@0\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"11 minit\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.ibpo.com.my\/how-to-accumulate-wealth-as-a-malaysian\/\",\"url\":\"https:\/\/www.ibpo.com.my\/how-to-accumulate-wealth-as-a-malaysian\/\",\"name\":\"How to Accumulate Wealth as a Malaysian - IBPO\",\"isPartOf\":{\"@id\":\"https:\/\/www.ibpo.com.my\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.ibpo.com.my\/how-to-accumulate-wealth-as-a-malaysian\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.ibpo.com.my\/how-to-accumulate-wealth-as-a-malaysian\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2023\/10\/woman-hand-adding-coins-pile-1-1024x536-2.png\",\"datePublished\":\"2020-12-18T02:02:37+00:00\",\"dateModified\":\"2024-12-03T03:01:46+00:00\",\"author\":{\"@id\":\"https:\/\/www.ibpo.com.my\/#\/schema\/person\/c55964fff05a81db94cf204bc1f3e99f\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.ibpo.com.my\/how-to-accumulate-wealth-as-a-malaysian\/#breadcrumb\"},\"inLanguage\":\"ms-MY\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.ibpo.com.my\/how-to-accumulate-wealth-as-a-malaysian\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"ms-MY\",\"@id\":\"https:\/\/www.ibpo.com.my\/how-to-accumulate-wealth-as-a-malaysian\/#primaryimage\",\"url\":\"https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2023\/10\/woman-hand-adding-coins-pile-1-1024x536-2.png\",\"contentUrl\":\"https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2023\/10\/woman-hand-adding-coins-pile-1-1024x536-2.png\",\"width\":1024,\"height\":536},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.ibpo.com.my\/how-to-accumulate-wealth-as-a-malaysian\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.ibpo.com.my\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"How to Accumulate Wealth as a Malaysian\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.ibpo.com.my\/#website\",\"url\":\"https:\/\/www.ibpo.com.my\/\",\"name\":\"IBPO\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.ibpo.com.my\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"ms-MY\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.ibpo.com.my\/#\/schema\/person\/c55964fff05a81db94cf204bc1f3e99f\",\"name\":\"ibpoAdmin@0\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"ms-MY\",\"@id\":\"https:\/\/www.ibpo.com.my\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/170f084fb3abc99979a45253f282c95e?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/170f084fb3abc99979a45253f282c95e?s=96&d=mm&r=g\",\"caption\":\"ibpoAdmin@0\"},\"url\":\"https:\/\/www.ibpo.com.my\/bm\/author\/ibpoadmin0\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"How to Accumulate Wealth as a Malaysian - IBPO","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.ibpo.com.my\/bm\/how-to-accumulate-wealth-as-a-malaysian\/","og_locale":"ms_MY","og_type":"article","og_title":"How to Accumulate Wealth as a Malaysian - IBPO","og_description":"[xts_html_block id=&#8221;3506&#8243;] Before we proceed, I need to clarify that this is, in\u00a0no way a\u00a0\u201cget rich quick\u201d\u00a0scheme\u00a0for you to be the next\u00a0Robert Kuok. With that out of the way, I am pretty sure everybody has felt the impact of\u00a0MCO. You might\u2019ve\u00a0lost your job, been in\u00a0huge debts, or are\u00a0barely able to feed your family\u00a0due to the\u00a0lack [&hellip;]","og_url":"https:\/\/www.ibpo.com.my\/bm\/how-to-accumulate-wealth-as-a-malaysian\/","og_site_name":"IBPO","article_published_time":"2020-12-18T02:02:37+00:00","article_modified_time":"2024-12-03T03:01:46+00:00","og_image":[{"width":1024,"height":536,"url":"https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2023\/10\/woman-hand-adding-coins-pile-1-1024x536-2.png","type":"image\/png"}],"author":"ibpoAdmin@0","twitter_card":"summary_large_image","twitter_misc":{"Written by":"ibpoAdmin@0","Est. reading time":"11 minit"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.ibpo.com.my\/how-to-accumulate-wealth-as-a-malaysian\/","url":"https:\/\/www.ibpo.com.my\/how-to-accumulate-wealth-as-a-malaysian\/","name":"How to Accumulate Wealth as a Malaysian - IBPO","isPartOf":{"@id":"https:\/\/www.ibpo.com.my\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.ibpo.com.my\/how-to-accumulate-wealth-as-a-malaysian\/#primaryimage"},"image":{"@id":"https:\/\/www.ibpo.com.my\/how-to-accumulate-wealth-as-a-malaysian\/#primaryimage"},"thumbnailUrl":"https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2023\/10\/woman-hand-adding-coins-pile-1-1024x536-2.png","datePublished":"2020-12-18T02:02:37+00:00","dateModified":"2024-12-03T03:01:46+00:00","author":{"@id":"https:\/\/www.ibpo.com.my\/#\/schema\/person\/c55964fff05a81db94cf204bc1f3e99f"},"breadcrumb":{"@id":"https:\/\/www.ibpo.com.my\/how-to-accumulate-wealth-as-a-malaysian\/#breadcrumb"},"inLanguage":"ms-MY","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.ibpo.com.my\/how-to-accumulate-wealth-as-a-malaysian\/"]}]},{"@type":"ImageObject","inLanguage":"ms-MY","@id":"https:\/\/www.ibpo.com.my\/how-to-accumulate-wealth-as-a-malaysian\/#primaryimage","url":"https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2023\/10\/woman-hand-adding-coins-pile-1-1024x536-2.png","contentUrl":"https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2023\/10\/woman-hand-adding-coins-pile-1-1024x536-2.png","width":1024,"height":536},{"@type":"BreadcrumbList","@id":"https:\/\/www.ibpo.com.my\/how-to-accumulate-wealth-as-a-malaysian\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.ibpo.com.my\/"},{"@type":"ListItem","position":2,"name":"How to Accumulate Wealth as a Malaysian"}]},{"@type":"WebSite","@id":"https:\/\/www.ibpo.com.my\/#website","url":"https:\/\/www.ibpo.com.my\/","name":"IBPO","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.ibpo.com.my\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"ms-MY"},{"@type":"Person","@id":"https:\/\/www.ibpo.com.my\/#\/schema\/person\/c55964fff05a81db94cf204bc1f3e99f","name":"ibpoAdmin@0","image":{"@type":"ImageObject","inLanguage":"ms-MY","@id":"https:\/\/www.ibpo.com.my\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/170f084fb3abc99979a45253f282c95e?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/170f084fb3abc99979a45253f282c95e?s=96&d=mm&r=g","caption":"ibpoAdmin@0"},"url":"https:\/\/www.ibpo.com.my\/bm\/author\/ibpoadmin0\/"}]}},"_links":{"self":[{"href":"https:\/\/www.ibpo.com.my\/bm\/wp-json\/wp\/v2\/posts\/3874"}],"collection":[{"href":"https:\/\/www.ibpo.com.my\/bm\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ibpo.com.my\/bm\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ibpo.com.my\/bm\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ibpo.com.my\/bm\/wp-json\/wp\/v2\/comments?post=3874"}],"version-history":[{"count":7,"href":"https:\/\/www.ibpo.com.my\/bm\/wp-json\/wp\/v2\/posts\/3874\/revisions"}],"predecessor-version":[{"id":6443,"href":"https:\/\/www.ibpo.com.my\/bm\/wp-json\/wp\/v2\/posts\/3874\/revisions\/6443"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.ibpo.com.my\/bm\/wp-json\/wp\/v2\/media\/3876"}],"wp:attachment":[{"href":"https:\/\/www.ibpo.com.my\/bm\/wp-json\/wp\/v2\/media?parent=3874"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ibpo.com.my\/bm\/wp-json\/wp\/v2\/categories?post=3874"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ibpo.com.my\/bm\/wp-json\/wp\/v2\/tags?post=3874"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}