Emergency Fund Tips & Tricks: Don't Just Save 6 Months

You've got emergency funds, but are you making the most of them? 🟠 𝗦𝘁𝗮𝗿𝘁 𝗜𝗻𝘃𝗲𝘀𝘁𝗶𝗻𝗴 𝘄𝗶𝘁𝗵 𝗺𝗼𝗼𝗺𝗼𝗼 ➡️ j.moomoo.com/00JRcf
🟠 𝗦𝘁𝗮𝗿𝘁 𝗜𝗻𝘃𝗲𝘀𝘁𝗶𝗻𝗴 𝘄𝗶𝘁𝗵 𝗺𝗼𝗼𝗺𝗼𝗼 ➡️ j.moomoo.com/00JRcf
⬇️ Timestamps:
0:00 → Introduction
0:52 → Why cash is still king
3:06 → Alternative sources of funds
6:05 → Ways to Make the Most of Spare Cash
9:32 → Conclusion
Emergency funds are great for peace of mind, but why settle for just that? Learn how to make your money work harder for you, even in the toughest times!
In emergencies, you can't predict what will happen. Health issues, accidents, or losing your job can strike at any time. That's where your emergency fund comes to the rescue. Sure, it might not be earning much, but when you need cash urgently, you won't care about inflation. Cash is still king in such situations.
But say, you have enough for your emergency funds, what do you with that extra spare of cash? . Don't just leave it in some boring savings account. You've got options! Fixed deposits offer safe and stable returns, or you could try money market funds for a little more risk and better returns.
And if you're feeling bold and ready to take on some higher risk, why not dive into the US stock market? It may be daring, but the potential rewards over time could be awesome.
So, don't underestimate the power of your emergency funds and savings. Get creative, take some calculated risks, and make the most of your money while staying safe.
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Emergency fund
Financial safety net
Savings for emergencies
Rainy day fund
Financial cushion
Fund for unexpected expenses
Money for emergencies
Security savings
Backup fund
Emergency savings account
Prepare for emergencies
Building an emergency fund
Importance of emergency funds
Creating a safety net
Funds for unforeseen events
Planning for emergencies
Emergency cash reserve
Emergency fund management
Emergency savings strategy
Emergency fund tips
Personal Finance
#EmergencyFund #EmergencySavings #PersonalFinance #FinancialSecurity #PrepareForTheUnexpected #StressFreeFinances #SavingsForEmergencies #FinancialResilience #MoneyForEmergencies #FixedDeposits #MoneyMarketFund #Investing #StockInvesting
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Disclaimer: The content on this channel is for educational purposes only and merely cites my own personal opinions. Neither moomoo or its affiliates shall be liable for the content of the information provided. In order to make the best financial decision that suits your own needs, you must conduct your own research and seek the advice of a licensed financial advisor if necessary.

[@ZietInvests]

🟠 𝗦𝘁𝗮𝗿𝘁 𝗜𝗻𝘃𝗲𝘀𝘁𝗶𝗻𝗴 𝘄𝗶𝘁𝗵 𝗺𝗼𝗼𝗺𝗼𝗼 ➡ j.moomoo.com/00JRcf

[@glteoh4357]

Generally, we shouldn't put our emergency fund into stock market or any high risk or high volatility investments. Reason 1 is liquidity, as it may take several days before you get the money, especially foreign markets like US, you may use credit card to cover 1st then payback it's fine. More critical is reason 2, which is the extra risk of the investment, like country risk, market risk & fx risk, it's not about daring or not, it's about the holding power of your long term investment. The scenario you want to avoid is having to sell your investment for emergency during a bear market or when your investment is still negative. What do you think? Will emergency normally comes at the right timing? If your stock portfolio is already 100% or 200% gain, then it's fine, but it'll take several years to achieve that, before that, you probably don't want to take money out of your stock portfolio, as you may miss out on good opportunities.

[@ooo3833]

Hi. I thought that emergency funds is based on total expenses but you clarified it’s actually the savings after expenses. Thanks! To buy a stand-alone medical card is expensive especially as age advances. What do you think? Also i have an investment linked policy? Can i convert that into just medical card?

[@copywritersblock]

Hi Ziet are you in any etfs? If yes, do you mind sharing which ones? FYI, I'm in VTI, QQQ, AVUV and CSPX.

[@ZietInvests]

Hi! I am not invested in any ETF at the moment, but here are some of them that I have reviewed and filtered for your reference: kzbin.info/aero/PLNtoL6rfNKdk74aq-253KcjLIFfn9Z6Y4

[@kimyean829]

Can share more about why investment link insurance is not encouraged? Would you mind share how you plan your insurance?

[@ZietInvests]

Hi kim yean, traditionally the ILPs in malaysia have been underperformed (their underlying funds) and have never really lived up their projected returns, and after minus-ing off fees etc, you end up with a return lower than FD (or even negative), at the end of the day its the agents that pocket the commission while you end up losing to inflation instead. Here's a comprehensive write up which you can gain more insights on them: sg.finance.yahoo.com/news/pros-cons-investment-linked-plans-050000106.html

[@ustradingdiary]

Not sure Malaysia. But in singapore. These are the fees. Management fee I think around 2 to 3% per year. Then insurance parts which is quite shady. As investment link they able to hide actual expenses for the insurance. The funds have spread of close to 10%. That mean your buy price and sell price is 10% difference if u buy and sell the same time. So once you buy in. Your money is guaranteed to be negative 20% onwards. 😂So you want to be their customer for this. 😉

[@peiming1735]

@@ZietInvests This is so truee! I login to my Great Eastern client portal and read all the funds available for me. Most of the funds just not performing, majority of the funds' return are even poor than keeping the cash below my bed. Luckily there is a passively managed fund which track the S&P 500 so I switch to it. The sad thing is most of the insurance agent just recommend their client to select those funds established by the insurance company which performs badly in both long and short term. From the size of AUM, those underperforming funds have higher AUM compared to the S&P 500 fund which solely invest in the S&P 500 ETF.

[@Yayapapaya-jv4vd]

Aloha. just curious. how come the emergency funds is based on balance after expenses rather than using expenses itself?

[@ZietInvests]

Hi! The golden rule is indeed 3-6 months based on your expenses. So, the balance is more of ready-cash which depending on yourself, can also be seen as part of your emergency fund (providing you that extra layer of safety net!).

[@Yayapapaya-jv4vd]

@@ZietInvests makes sense! cheers

[@yeesunher6278]

Hello Ziet, do we need to pay tax on the interests/income we earned from Money Market Funds like Versa?

[@ZietInvests]

Hi there, as far as i know those MMF interest income are not taxable ya

[@gcyt7462]

Imho, emergency funds should not be in FD or MMF or any other so-called "safe investment", it should be plain, boring, liquidable cash assured by PIDM aka just put it in your savings account.

[@ZietInvests]

Agree, minimal amount like 1-2 month on liquid cash savings is definitely needed, then 2nd layer "liquid" can be in MMF/FD imo

[@janetlim]

Just put in tng go+ and buy tng debit card to take them out. Easy

[@robinwong3116]

Hi Ziet,would like to hear your thought on Rize by Al Rajhi Bank. It is protected by PIDM and they currently are giving 5% promo rate to their user for the first RM5k in their account.

[@ZietInvests]

Hi Robin, if they are licensed by BNM and insured by PIDM, i think that in itself is a good indicator they are regulated by the local authorities and should be "safe" enough. There will always be risk for sure - technology risk, counter party risk etc., but then again, if its PIDM insured, you should be good to go!

[@suba.m3381]

Hi Ziet, I was reading on the comments below on investment link plans. Do you think it is wise for one to change their current insurance (investment linked plan) to a normal medical card plan? Hope to hear your thoughts. Thanks:)

[@ZietInvests]

Hi suba, im not qualified to advice on such financial matters but if it were me, i personally would switch to a normal medical card plan because i dont like the investment linked plans at all, its simply just not for me. BUT again, your situation might differ and investments might not be your thing, so best speak to an experienced person to learn more about it first ya

[@suba.m3381]

Thanks. I’ll look into it :)

[@davidwong125]

recently, maybank offered 4% p.a. for minimum rm1k placement with 7 months tenure. campaign period from 14 july till 8 aug 2023

[@ZietInvests]

4% p.a. is pretty solid for FD (PIDM insured) That's just tad bit lower than those money market funds' (not PIDM insured) By all means, go ahead if stability + MYR currency is part of your asset allocation!

[@alvinrodney6229]

Hi Ziet, i see you've paced your speech delivery in this video. In earlier videos, i recall you tend to speak much faster. Is this change in pace the result of your new speech coach? Just asking...

[@gaychin8654]

Hi Ziet, I am new to investing, and I want to know if I should try to time the market entry for the S&P 500 index or simply invest my money consistently every month?

[@david_lifeandgames]

Don't time the market. If u invest long term it doesn't matter. Sure you can wait a few days if earnings for that company is close.. Or if fed just announce start of quantitave tightening (wait 6 mths at least). The fed part already passed one year ago so nothing big to fear now (unless if Putin launch nukes which we cant predict). So yea if long term just do it.

[@ZietInvests]

Essentially having a long term mindset is part of what makes investing, investing. There's really a lot of things that I would need to tell you in order to give you a more well rounded answer, so here's a comprehensive guide that will definitely give you a better picture: kzbin.info/www/bejne/fZyUq2tug7ypf80 Long story short, i wont try to time the market - just invest consistently regardless of ups and down (dollar cost averaging) because if you try to time it, 9/10 times you wont invest when the market is down

[@audrey3987]

Why should we avoid investment linked saving plans?

[@ZietInvests]

The projected returns are “projected” and you will rarely hit that number, and you end up worse off compared to fixed deposits, and the only winner is your agent earning your commission

[@MrGoldGrower]

@@ZietInvests the middleman always earns the most, when it is hard sell to us, we need to crunch the numbers

[@ZietInvests]

@@MrGoldGrower exactly! there is no free lunch in this world - agents, fund managers all profit from commissions/sales

[@ustradingdiary]

Not sure Malaysia. But in singapore. These are the fees. Management fee I think around 2 to 3% per year. Then insurance parts which is quite shady. As investment link they able to hide actual expenses for the insurance. So many undertable fees. The funds have spread of close to 10%. That mean your buy price and sell price is 10% difference if u buy and sell the same time. So once you buy in. Your money is guaranteed to be negative 20% onwards. 😂So you want to be their customer for this. 😉

[@ZietInvests]

@@ustradingdiary damn😂

[@samuelzev4076]

Do you have any recommendations for someone with a disability from a brain injury to get immediate funding?

[@ZietInvests]

Hi Samuel, I'm probably not the best person to answer this question, perhaps you can speak to an experienced/trustable insurance agent to give you more light on this situation

[@FinanceTalky]

Nice video ❤❤❤❤

[@ZietInvests]

Thanks 🤗

[@cheapogeorge9001]

Hi Ziet, I earn in USD and have funds in my Wise account. I prefer not to convert everything back to MYR due to the significant depreciation of MYR against USD. However, there is a limit on the amount I can hold in Wise. Do you have any suggestions on how I can invest or securely store the extra USD, perhaps in a highly secure account with protection? I am aware of Interactive Brokers from your recommendation, but I am concerned about the risks associated with stable stocks and ETFs like the SNP500, although very low. I am looking for a very secure option, similar to a savings account, that maybe can offer an annual interest rate of 2-3%, while ensuring safety.

[@ZietInvests]

Hi george, for your case, i usually just park my USD in my IBKR investment account, otherwise you can consider short-term treasury notes that can give 4-5% p.a. yield: kzbin.info/www/bejne/rmXOp2qaZc9raKMsi=tBmSf5PynnOCCQHV

[@peiming1735]

Hi Ziet, which market does Moomoo offer for trading currently?

[@ZietInvests]

Hi Pei Ming, moomoo singapore can trade US, HK, SG and CN. Moomoo malaysia probably the same too i guess?

[@SaadonAksah]

Stock? Wah so daring 😱

[@ZietInvests]

Can learn more about it here first! kzbin.info/www/bejne/fZyUq2tug7ypf80&ab_channel=ZietInvests

[@copywritersblock]

And do you think Google stock will keep going up?

[@ZietInvests]

It seems like the ads industry is recovering, might be better days for them! (provided chatGPT dont disrupt their search engine functionality)

[@theMiaow]

Haih i hate these money gaming management. Need to scare this, scare that. Life itself is so annoyingly correlated with money. No money equals no life. Got money equals got life cuz can afford unforeseen circumstances 😞

[@daxcheng]

Keep it in a high interest savings account

[@ZietInvests]

that works too!

[@choowl8248]

any idea MooMoo SG can transfer to Moomoo Malaysia later ?

[@ZietInvests]

HI choo, so far no news yet, at the moment we were told probably Q4 (october - december)