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Sunday, 30 April 2023

[New post] Financial news: Harder to buy a property today or a long time ago?

Site logo image Charles Tan posted: " Financial news: Harder to buy a property today or a long time ago? Why are the older folks complaining that today's rates are too low for their hard earned savings? There was a time when depositing RM1 million in the bank as Fixed Deposit will gain" kopiandproperty.com

Financial news: Harder to buy a property today or a long time ago?

Charles Tan

May 1

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There was a time when depositing RM1 million in the bank as Fixed Deposit will gain the saver 8 percent of interest if not higher and that means this saver could get a monthly interest equivalent to RM6,667 per month. This is the typical salary of a M40 household. In other words, it's actually possible to take it easy once we have managed to save our first RM1 million. RM6,667 is not a lot of money but certainly enough even for today's typical expenses per month. I know, it's much harder to get RM1 million then because the salaries are lower.

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at April 30, 2023
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