{"id":51346,"date":"2022-01-07T08:19:41","date_gmt":"2022-01-07T00:19:41","guid":{"rendered":"https:\/\/www.imoney.my\/articles\/?p=51346"},"modified":"2024-01-31T17:42:10","modified_gmt":"2024-01-31T09:42:10","slug":"long-term-savings-prucash-enrich","status":"publish","type":"post","link":"https:\/\/www.imoney.my\/articles\/long-term-savings-prucash-enrich","title":{"rendered":"Is Saving Money Just For Boomers?"},"content":{"rendered":"<p><img decoding=\"async\" src=\"https:\/\/static.imoney.my\/articles\/wp-content\/uploads\/2020\/04\/01130259\/prudential-partnership.png\" \/><\/p>\n<p>Is <a href=\"https:\/\/www.prudential.com.my\/en\/products-wealth-insurance\/savings-investment-plans\/\" target=\"_blank\" rel=\"dofollow noopener\">saving money<\/a> in the bank a good strategy to grow your wealth?<\/p>\n<p>Well, that might have been true a few decades ago when interest rates were higher. Nowadays, you\u2019d be lucky to get over 2% a year on your <a href=\"https:\/\/www.imoney.my\/fixed-deposit\" target=\"_blank\" rel=\"dofollow noopener\">fixed deposit returns<\/a>. That\u2019s hardly enough to <a href=\"https:\/\/www.theedgemarkets.com\/article\/malaysias-dec-2021-inflation-32-onyear\" target=\"_blank\" rel=\"dofollow noopener\">beat inflation<\/a>, let alone help you grow your wealth to reach financial goals.<\/p>\n<p>So it\u2019s not surprising to know that Malaysians &#8211; especially young Malaysians &#8211; have flocked to investing for higher returns. Last year, Bursa Malaysia recorded a <a href=\"https:\/\/www.icmr.my\/wp-content\/uploads\/2021\/04\/Data-Insights-Retail-Investor-Behaviour-Final.pdf\" target=\"_blank\" rel=\"dofollow noopener\">surge in new stock account openings<\/a>, with an 132% increase from the previous year. Around two in three new account openings were from those aged 25 to 44 years old.<\/p>\n<p>There\u2019s also a lot of interest in alternate forms of investments like cryptocurrency. Digital asset exchange platforms in Malaysia have recorded <a href=\"https:\/\/themalaysianreserve.com\/2020\/04\/28\/digital-currencies-gaining-interest-with-malaysian-investors\/\" target=\"_blank\" rel=\"dofollow noopener\">big upticks<\/a> in the volume of Bitcoin, Ethereum and other crypto assets being traded.<\/p>\n<p>But investing isn\u2019t all fun and games. Assets like stocks and cryptocurrencies can potentially deliver better returns than just saving in the bank, but they can also be volatile. You\u2019d also need to spend time researching and monitoring your portfolio.<\/p>\n<p>Wouldn\u2019t it be great if you could have the ease and convenience of saving, while still being able to reach financial goals? Well, there\u2019s another way to grow your wealth. Read on to find out how<strong> <a href=\"https:\/\/www.prudential.com.my\/en\/products-wealth-insurance\/savings-investment-plans\/prucash-enrich\/\" target=\"_blank\" rel=\"dofollow noopener\">PRUCash Enrich<\/a><\/strong> can help.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>How else can you grow your money to reach your financial goals?<\/p>\n","protected":false},"author":1,"featured_media":51402,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[31,1,236],"tags":[208,434],"class_list":["post-51346","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-infographic","category-investment","category-sponsored","tag-featured","tag-prudential"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>How To Grow Your Money Safely And Reach Your Financial Goals<\/title>\n<meta name=\"description\" content=\"Saving money alone may not generate enough returns to help you reach financial goals. But investing can be high risk. Here\u2019s what you can do instead.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.imoney.my\/articles\/long-term-savings-prucash-enrich\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How To Grow Your Money Safely And Reach Your Financial Goals\" \/>\n<meta property=\"og:description\" content=\"Saving money alone may not generate enough returns to help you reach financial goals. But investing can be high risk. 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