We hope you found it useful to know more about investing in a volatile year and the fundamentals of having a long term plan for your financials. And this is all thanks to our speakers, Linnet Lee, CEO of the Financial Planning Association of Malaysia, Idham Idris, Director and Licensed Financial Planner, Wealth Vantage Advisory and Maggie Wong, Associate Director for Fixed Income at AHAM Capital Asset Management Bhd.
Here’s a short recap of their insights:
Maggie Wong, Associate Director for Fixed Income at AHAM Capital Asset Management Bhd
The US Federal Reserve is expected to continue hiking its interest rates to about 5.25 - 5.5% as it seeks to tame inflation.
China will be key to Asia’s economic growth but there are still concerns regarding its property sector as buyer sentiment is still gloomy. Investors should focus more on the consumer sector due to pent up demand stemming from the reopening.
Bank Negara Malaysia will likely have another rate hike sometime middle of 2023 as it digests more data from the recently retabled Budget 2023.
Idham Idris, Director and Licensed Financial Planner, Wealth Vantage Advisory
Proper planning and goal setting is key to weather volatile periods in your investment journey.
“V.U.C.A: Vision, Understanding Yourself, Clarity, Agility” is key to help plan out what are your goals when investing.
Start small, save a little and slowly progress up to your investment goals. One must not be static and have urgency when taking control of your finances.
Linnet Lee, CEO of the Financial Planning Association of Malaysia
A holistic approach is key to ensure long term financial success where one must prioritise not just your financial wellbeing but also your physical wellbeing.
Consider legacy and estate planning as many of us don’t think about what happens when Plan A doesn’t materialise. Who will take care of your family? What will happen to the wealth you built? These are important questions.
Take heed and don’t rush into investments that you are unclear about. Have a plan and talk to professionals who can advise on the right course to take.
We hope the recap is useful for long term financial goals and to help you stay invested in a volatile 2023.