/gene/images/blog/whatyoucando.png - can do 10K

Dec 28

What You Can Do with RM10K? Invest or Spend?

For some, you may choose to invest RM10,000 as such amount of money may be hard to come by. While for some, you may choose to spend it. It all depends on your preference. But before you decide to spend it, think of how you managed to save such amount of money.

It can be from your monthly savings deduction, a gift from your parents or you won a lottery. Regardless of how you managed to accumulate that much money, it'd be wise of you to invest or spend it carefully.

There’s no right or wrong when it comes to managing your money.

If you prefer to invest it, here are several ways for you to do it.

1. Clear your debts

Regardless of how much you have in your savings account, they'll only count if you have no debt. Let's say you have a total of RM10,000 in your savings and debt of RM5,000. The only way to know the exact amount in your account is to pay off your debt and the interest rates.

Always prioritise paying off your debts. That way, your savings can produce a healthy return without losing value due to your debts’ interest rates.

2. Put into a fixed deposit account

This is the safest way for you to invest your RM10,000. Depending on your placement tenure and the bank’s interest rate, your money will keep growing without any interference from you.

Besides, placing your money into a fixed deposit account doesn't allow you to withdraw the money until the placement tenure is over. If you tend to spend your money and forget where it went, a fixed deposit account is your best shot at growing your wealth.

3. Invest in blue-chip stocks

Blue-chip stocks are typically well-established companies that have operated for many years and have dependable earnings, with dividends paid to investors. With a market capitalisation in the billions, the company can either be a market leader or among the top three in its sector. Some examples include Public Bank, IBM Corp., and Coca-Cola Co.

4. Invest in commodities

Commodities such as gold and silver have been a strong and solid investment over the years. Historically, the price of gold has provided investors with a healthy profit despite the recent fluctuations.

Based on this gold calculator, you can buy 40 grams of gold for less than RM10,000. Think of this investment as a form of security so that you’ll have enough for yourself.

5. Buy shares in REITs

Nowadays, it can be hard to afford a property that's decently priced. However, you can invest in Real Estate Investment Trusts (REITs) by paying for a fraction of the property price. It’s relatively a safe investment choice and you’ll get reasonable returns.

This means you can invest in quality large-scale commercial real estate without having to purchase the properties. Besides, you’ll get a stream of stable income, be exposed to large-scale properties, and have the professionals to manage your investment.

6. Travel abroad

While this may weigh more on the way you spend, it’s a reasonable way to invest in yourself. Given that you’ll be earning some knowledge and experience while abroad, you can justify it as an investment.

Make sure you do your research if you decide to go on any trip in the world as English isn’t a commonly spoken language in some countries.

At the end of the day, you’ll have endless ways to manage your money. The choice is in your hands. Just be sure to do your research and find the best possible outcome.

If you’re looking to grow your wealth, GeneApp Malaysia offers a financial plan that can multiply your investment, manage and increase your digital assets.

You can also earn a daily income and convert your earnings to invest in property and jewellery.

Keen to invest with us?

Contact us at 011 6939 2180 or email your queries to [email protected]