Author Topic: Invest beyond your simple savings accounts, says banking head  (Read 621 times)

Offline Teosh

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Invest beyond your simple savings accounts, says banking head
« on: November 13, 2017, 10:22:28 AM »
Invest beyond your simple savings accounts, says banking head 

PETALING JAYA: Standard Chartered Bank (StanChart) has advised Malaysia’s “emerging affluent” group to start saving by looking at instruments beyond simple savings accounts.
The emerging affluent group generally refers to those aged from the early 20s to late 40s with monthly incomes of RM7,500 to RM16,000.
Its CEO of retail banking and group head of brand and marketing, Karen Fawcett, was quoted by The Edge last week as saying those under the category could increase returns on their savings by an average of 42% over a 10-year period if they switched from largely basic savings accounts to low-risk wealth management investment strategies.
“If you save a small amount regularly, the compounding effect will make a massive difference over time. Say, you invest RM100 in something other than a savings deposit, you will earn more over time,” she was quoted as saying.
She said the emerging affluent were getting to the stage where they were beginning to build their savings as their monthly expenses were covered nicely.

“What we find interesting is that about a quarter of them are saving less than they think they need to,” she was quoted as saying.
“Our encouragement to clients in this bracket is to start saving and look at the range of instruments beyond savings accounts because who knows what will happen to interest rates,” she added.
“I don’t think many can expect to get an inheritance and live on that. Everything we are doing for our clients is about how to start saving early and build that nest egg for the future.”
The Edge also cited Aaron Loo, country head of retail banking at StanChart as saying that 1.5 million Malaysians with monthly incomes of between RM7,500 and RM16,000 came under the emerging affluent category.
It reported that a Bank Negara Malaysia survey in 2015 showed that only one in four Malaysians held any form of investment.
Loo said this indicated that most Malaysians lacked sufficient investment knowledge and financial preparation for the long term.
“This is further compounded by the lack of time to gain such knowledge as most people spend most of their time working or caring for their family,” he was quoted as saying.

Offline HattieTrar

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Re: Invest beyond your simple savings accounts, says banking head
« Reply #1 on: February 07, 2019, 06:46:11 PM »
Je ne sais pas dans quelle mesure vous pouvez m'aider à obtenir cette information, car je veux accéder à beaucoup d'informations, je ne sais pas comment m'aider?