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Gifts are good, just remember to build on it; invest.

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I watched all the badminton matches during the Olympic Games from the quarter final onwards. Yes, every single match involving Malaysian shuttlers. This time, everyone played well beyond what is expected from them based on their world rankings. Our mixed-doubles, Chan Peng Soon and Goh Liu Ying entered the final and eventually lost to a superior Indonesian pair that night. Based on their ranking, even the quarter-final is already an achievement. Today, I read that they would receive units of LakePark Residence from JL99 Group who are one of their sponsors.

lakeparkAccording to the report in thestar.com.my, the units are over RM1 million each. It’s situated in KL North. Take a look at the image. If you do have interest, do google online for more information. As for the property site for this development, it’s here: LakePark Residences. According to the property development group in its Facebook page, these units are for the pair as a token of appreciation and encouragement.

When we look back at history, it is always very sad when those who got gifts, especially monetary related ones lose them all in the future. More often than not, due to the inability to manage or grow it. Of course, some may even have invested them wrongly. All these monetary gifts are very important because a sportsman could not play forever. That’s why these must be accumulated and invested properly. Assuming, they use only the RM150,000 each (from RM300,000 for the pair) to put into Fixed Deposits. This RM150,000 would still grow to RM212,000 in 10 years time. Of course, it should also be used to settle credit card debts first too.

Another calculated risk would be to get a property instead and rent it out. Buying one where the target market is stable could be a safe bet too. Alternatively, a blue-chip stock can be another choice too but read and understand the company’s business before continuing. Utilities maybe more stable than food, for example. Just need to be very careful not to be sucked into pyramid schemes which guarantee returns which are out of this world. I love sportsmen who gave their everything to Malaysia. However, after the sporting days are over, their future depends on their investments today. Wishing all our Olympic heroes all the very best.

written on 22 Aug 2016

Next suggested article:   Starting young is better than starting later

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