{"id":5090,"date":"2018-12-10T10:30:49","date_gmt":"2018-12-10T02:30:49","guid":{"rendered":"http:\/\/ringgitohringgit.com\/?p=5090"},"modified":"2021-06-28T16:10:22","modified_gmt":"2021-06-28T08:10:22","slug":"rich-malaysians","status":"publish","type":"post","link":"https:\/\/ringgitohringgit.com\/commentary\/rich-malaysians\/","title":{"rendered":"[SPONSORED] What Rich Malaysians Do With Their Money (That You Don\u2019t)"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_83 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/ringgitohringgit.com\/commentary\/rich-malaysians\/#1_%E2%80%93_They_buy_time\" >#1 &#8211; They buy time<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/ringgitohringgit.com\/commentary\/rich-malaysians\/#2_%E2%80%93_They_pay_to_mingle_with_the_%E2%80%98right_crowd\" >#2 &#8211; They pay to mingle with the \u2018right\u2019 crowd<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/ringgitohringgit.com\/commentary\/rich-malaysians\/#3_%E2%80%93_They_protect_their_money_obsessively\" >#3 &#8211; They protect their money obsessively<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/ringgitohringgit.com\/commentary\/rich-malaysians\/#4_%E2%80%93_They_look_for_leveraging_opportunities\" >#4 &#8211; They look for leveraging opportunities<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/ringgitohringgit.com\/commentary\/rich-malaysians\/#Conclusion\" >Conclusion<\/a><\/li><\/ul><\/nav><\/div>\n<div id=\"bsf_rt_marker\"><\/div><p><span style=\"font-weight: 400;\">According to the Department of Statistics Malaysia, the T20 in this country received 46.2% of overall income share in 2016, while the M40 and B40 received 37.4% and 16.4% respectively.<\/span><\/p>\n<p><img data-attachment-id=\"5091\" data-permalink=\"https:\/\/ringgitohringgit.com\/commentary\/rich-malaysians\/attachment\/rich-malaysians-1\/\" data-orig-file=\"https:\/\/i0.wp.com\/ringgitohringgit.com\/wp-content\/uploads\/2018\/12\/rich-malaysians-1-e1543984310972.png?fit=551%2C582&amp;ssl=1\" data-orig-size=\"551,582\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"rich malaysians 1\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ringgitohringgit.com\/wp-content\/uploads\/2018\/12\/rich-malaysians-1-e1543984310972.png?fit=284%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ringgitohringgit.com\/wp-content\/uploads\/2018\/12\/rich-malaysians-1-e1543984310972.png?fit=551%2C582&amp;ssl=1\" decoding=\"async\" loading=\"lazy\" class=\"aligncenter wp-image-5091 size-full\" src=\"https:\/\/i0.wp.com\/ringgitohringgit.com\/wp-content\/uploads\/2018\/12\/rich-malaysians-1-e1543984310972.png?resize=551%2C582&#038;ssl=1\" alt=\"rich malaysians\" width=\"551\" height=\"582\" srcset=\"https:\/\/i0.wp.com\/ringgitohringgit.com\/wp-content\/uploads\/2018\/12\/rich-malaysians-1-e1543984310972.png?w=551&amp;ssl=1 551w, https:\/\/i0.wp.com\/ringgitohringgit.com\/wp-content\/uploads\/2018\/12\/rich-malaysians-1-e1543984310972.png?resize=284%2C300&amp;ssl=1 284w\" sizes=\"(max-width: 551px) 100vw, 551px\" data-recalc-dims=\"1\" \/><\/p>\n<p><a href=\"https:\/\/www.dosm.gov.my\/v1\/index.php?r=column\/cthemeByCat&amp;cat=120&amp;bul_id=RUZ5REwveU1ra1hGL21JWVlPRmU2Zz09&amp;menu_id=amVoWU54UTl0a21NWmdhMjFMMWcyZz09\">Image credit to DOSM<\/a><\/p>\n<p><span style=\"font-weight: 400;\">Looking at the statistics, you can&#8217;t deny that rich Malaysians <\/span><b>must <\/b><span style=\"font-weight: 400;\">know something that the rest of us don&#8217;t. I mean, the top 20% can&#8217;t have gotten almost <\/span><span style=\"font-weight: 400;\">half<\/span><span style=\"font-weight: 400;\"> of all the income in Malaysia by accident. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">I am greatly fascinated by the money mindset that the rich have. Not their lifestyle, mind you &#8211; <\/span><i><span style=\"font-weight: 400;\">looking<\/span><\/i><span style=\"font-weight: 400;\"> rich is not the same as <\/span><i><span style=\"font-weight: 400;\">being <\/span><\/i><span style=\"font-weight: 400;\">rich &#8211; but their mindset: what they learned from their parents (if they were born rich) or from life experiences (if they worked hard to get there). <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Here are some things that I&#8217;ve learned about rich Malaysians. <\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"1_%E2%80%93_They_buy_time\"><\/span><span style=\"font-weight: 400;\">#1 &#8211; They buy time<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><!--more--><\/p>\n<p><span style=\"font-weight: 400;\">Whoever said that money can\u2019t buy time is wrong. You can. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Rich Malaysians know this. Instead of doing everything themselves to save money, they would instead <\/span><i><span style=\"font-weight: 400;\">pay for products and services that can save them time<\/span><\/i><span style=\"font-weight: 400;\">. Here are some examples:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><b>Housekeeping services<\/b><span style=\"font-weight: 400;\"> &#8211; they employ staff who clean their houses, tend their lawns and send their clothes to the laundry.<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Childcare and ageing care facilities<\/b><span style=\"font-weight: 400;\"> &#8211; they employ professionals who can look after their children and ageing parents.<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Quality products <\/b><span style=\"font-weight: 400;\">&#8211; they last longer and are more efficient compared to lower-quality products. Note that quality doesn&#8217;t necessarily mean luxury.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">I started my personal finance journey with a frugal mindset &#8211; I&#8217;d spend hours looking for \u201cfree and cheap\u201d. It served me well up until now (I&#8217;m financially stable), but it&#8217;s easy to forget that the cost of looking for free and cheap is time &#8211; time that I can use to earn more money. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">At this point, I&#8217;m starting with slowly replacing all my low-quality items that wore out or broke down with higher-quality items. I&#8217;m still coming to terms with the upfront costs that I have to make &#8211; it&#8217;s mentally hard to accept higher prices when you&#8217;re so used to the cheap stuff! <\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"2_%E2%80%93_They_pay_to_mingle_with_the_%E2%80%98right_crowd\"><\/span><span style=\"font-weight: 400;\">#2 &#8211; They pay to mingle with the \u2018right\u2019 crowd<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><img data-attachment-id=\"5092\" data-permalink=\"https:\/\/ringgitohringgit.com\/commentary\/rich-malaysians\/attachment\/rich-malaysians-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ringgitohringgit.com\/wp-content\/uploads\/2018\/12\/rich-malaysians-2.jpeg?fit=1280%2C822&amp;ssl=1\" data-orig-size=\"1280,822\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"rich malaysians 2\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ringgitohringgit.com\/wp-content\/uploads\/2018\/12\/rich-malaysians-2.jpeg?fit=300%2C193&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ringgitohringgit.com\/wp-content\/uploads\/2018\/12\/rich-malaysians-2.jpeg?fit=1024%2C658&amp;ssl=1\" decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-large wp-image-5092\" src=\"https:\/\/i0.wp.com\/ringgitohringgit.com\/wp-content\/uploads\/2018\/12\/rich-malaysians-2.jpeg?resize=750%2C482&#038;ssl=1\" alt=\"rich malaysians\" width=\"750\" height=\"482\" srcset=\"https:\/\/i0.wp.com\/ringgitohringgit.com\/wp-content\/uploads\/2018\/12\/rich-malaysians-2.jpeg?resize=1024%2C658&amp;ssl=1 1024w, https:\/\/i0.wp.com\/ringgitohringgit.com\/wp-content\/uploads\/2018\/12\/rich-malaysians-2.jpeg?resize=300%2C193&amp;ssl=1 300w, https:\/\/i0.wp.com\/ringgitohringgit.com\/wp-content\/uploads\/2018\/12\/rich-malaysians-2.jpeg?resize=768%2C493&amp;ssl=1 768w, https:\/\/i0.wp.com\/ringgitohringgit.com\/wp-content\/uploads\/2018\/12\/rich-malaysians-2.jpeg?w=1280&amp;ssl=1 1280w\" sizes=\"(max-width: 750px) 100vw, 750px\" data-recalc-dims=\"1\" \/><\/p>\n<p><span style=\"font-weight: 400;\">At a recent conference I attended, the speaker said something that made me think. He said, \u201cYou meet a different set of people at paid events as compared to free events.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Obviously there are exceptions to the rule (e.g. receiving a free invitation to a paid event, fully-sponsored VIP events, etc.), but as someone who has always preferred going to free events over paid ones, this realisation came as a shock. I mean, I knew, but I didn&#8217;t <\/span><i><span style=\"font-weight: 400;\">digest<\/span><\/i><span style=\"font-weight: 400;\"> the statement until now. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">But it\u2019s true. The people who shell out money to attend paid conferences and seminars tend to be <\/span><span style=\"font-weight: 400;\">people who invest in their professional development<\/span><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Reflecting back, I can personally attest to this. The buzz at paid events is different. The questions they ask moderators are different. The conversations during tea breaks are different. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">This is not to say that free events aren\u2019t good &#8211; no, not at all. But the <\/span><i><span style=\"font-weight: 400;\">chances<\/span><\/i><span style=\"font-weight: 400;\"> of meeting people with a growth mindset are much higher at paid events. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Now I kind of know why some people pay to access premium places, like country clubs which impose ridiculously high annual fees. They get to network with people with similar economic backgrounds, and some of those networking can potentially turn into high-level business deals. \u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If I\u2019m honest, I\u2019m a bit troubled by the elitism here. It&#8217;s a form of economic exclusion, isn&#8217;t it? Some of us &#8211; especially those who are just starting out &#8211; can\u2019t afford to shell out the expense. But there\u2019s a way around it &#8211; join online communities where the \u2018right\u2019 crowd hangs out. Be an active contributor and get yourself noticed there. Of course, this is no substitute for face-to-face meets but who knows what opportunities will be present themselves to you. <\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"3_%E2%80%93_They_protect_their_money_obsessively\"><\/span><span style=\"font-weight: 400;\">#3 &#8211; They protect their money obsessively <\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">There&#8217;s no point in being rich if you can&#8217;t <\/span><i><span style=\"font-weight: 400;\">stay <\/span><\/i><span style=\"font-weight: 400;\">rich. When you\u2019re rich (especially if others know it), your money protection game must be strong. Many parties &#8211; from scammers to long-lost relatives to opportunists &#8211; will want a slice of that money pie. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">There are many money protection strategies. I\u2019m compiling the ones I know of here:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><b>Place your money at bank or any authorised financial institutions and buying insurance policy\/takaful certificate &#8211; <\/b><span style=\"font-weight: 400;\">for savings and for protection against unfortunate events. <\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Ensuring high level of digital security<\/b><span style=\"font-weight: 400;\"> &#8211; to protect online banking and investment accounts. <\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Optimising bank deposit and insurance policy\/takaful certificate protection<\/b><span style=\"font-weight: 400;\"> &#8211; eligible bank deposits and takaful\/insurance benefits are protected up to RM250,000 and RM500,000 respectively via PIDM (or Perbadanan Insurans Deposit Malaysia in full) in the event of a PIDM member fails. Rich folks who have more than the coverage amount may diversify their monies across different PIDM member banks or insurance companies to get the most out of PIDM\u2019s protection. <\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Set up wills and trusts<\/b><span style=\"font-weight: 400;\"> &#8211; to make sure their monies (including proceeds from life insurance policies) goes to the beneficiaries they select themselves, and not to those opportunists. Eligible trust accounts held at PIDM members are also protected by PIDM!<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">A quick note about PIDM&#8217;s protection. It&#8217;s free and automatic (you have to know this &#8211; some people were duped into paying money for it!). You can read more about PIDM <\/span><a href=\"https:\/\/ringgitohringgit.com\/personal-finance-community\/pidm-perbadanan-insurans-deposit-malaysia\/\"><span style=\"font-weight: 400;\">here<\/span><\/a><span style=\"font-weight: 400;\">. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">You better click that link &#8211; rich Malaysians already know the information inside it, and if you want to be rich, you should, too. <\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"4_%E2%80%93_They_look_for_leveraging_opportunities\"><\/span><span style=\"font-weight: 400;\">#4 &#8211; They look for leveraging opportunities<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><img data-attachment-id=\"5093\" data-permalink=\"https:\/\/ringgitohringgit.com\/commentary\/rich-malaysians\/attachment\/rich-malaysians-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ringgitohringgit.com\/wp-content\/uploads\/2018\/12\/rich-malaysians-3.jpeg?fit=1280%2C854&amp;ssl=1\" data-orig-size=\"1280,854\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"rich malaysians 3\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ringgitohringgit.com\/wp-content\/uploads\/2018\/12\/rich-malaysians-3.jpeg?fit=300%2C200&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ringgitohringgit.com\/wp-content\/uploads\/2018\/12\/rich-malaysians-3.jpeg?fit=1024%2C683&amp;ssl=1\" decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-large wp-image-5093\" src=\"https:\/\/i0.wp.com\/ringgitohringgit.com\/wp-content\/uploads\/2018\/12\/rich-malaysians-3.jpeg?resize=750%2C500&#038;ssl=1\" alt=\"rich malaysians\" width=\"750\" height=\"500\" srcset=\"https:\/\/i0.wp.com\/ringgitohringgit.com\/wp-content\/uploads\/2018\/12\/rich-malaysians-3.jpeg?resize=1024%2C683&amp;ssl=1 1024w, https:\/\/i0.wp.com\/ringgitohringgit.com\/wp-content\/uploads\/2018\/12\/rich-malaysians-3.jpeg?resize=300%2C200&amp;ssl=1 300w, https:\/\/i0.wp.com\/ringgitohringgit.com\/wp-content\/uploads\/2018\/12\/rich-malaysians-3.jpeg?resize=768%2C512&amp;ssl=1 768w, https:\/\/i0.wp.com\/ringgitohringgit.com\/wp-content\/uploads\/2018\/12\/rich-malaysians-3.jpeg?resize=272%2C182&amp;ssl=1 272w, https:\/\/i0.wp.com\/ringgitohringgit.com\/wp-content\/uploads\/2018\/12\/rich-malaysians-3.jpeg?w=1280&amp;ssl=1 1280w\" sizes=\"(max-width: 750px) 100vw, 750px\" data-recalc-dims=\"1\" \/><\/p>\n<p><span style=\"font-weight: 400;\">Leveraging is the perfect example of working smart, not hard. It\u2019s the art of allocating funds and resources creatively with the intention of creating future profits. Some examples:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><b>Leveraging on talent<\/b><span style=\"font-weight: 400;\"> &#8211; rich Malaysians understands the importance of recruiting good talent, so they can leverage on their expertise. Here are <\/span><a href=\"https:\/\/www.businessinsider.my\/apple-facebook-alphabet-most-profitable-companies-per-employee-2017-12\/?r=US&amp;IR=T\"><span style=\"font-weight: 400;\">20 companies that have high profit:employee ratio<\/span><\/a><span style=\"font-weight: 400;\">. Fannie May earns USD1,759,000 in profit PER employee! <\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Leveraging on zero\/low-interest loans<\/b><span style=\"font-weight: 400;\"> &#8211; One example is ASB loans, where you can earn 7-8%-ish returns with 4.x-5.x% loan. Another is using zero-interest or zero-fees credit card balance transfers to invest in fixed deposits, money markets, REITs, etc. (sounds easy, but timing is critical). There are other examples but they\u2019re high risk and I don\u2019t want you to take it as investment \u2018advice\u2019 and potentially lose money.<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Leveraging on properties<\/b><span style=\"font-weight: 400;\"> &#8211; Buy properties and rent it out to tenants who pay higher than the mortgage amount.<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Leveraging on time<\/b><span style=\"font-weight: 400;\"> &#8211; basically what we covered in #1. Paying for products and services that will free up time will allow for not just more working time, but also rest and relaxation time so we don\u2019t burn out!<\/span><\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><span style=\"font-weight: 400;\">Conclusion <\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">I used to view \u2018rich\u2019 negatively. But I&#8217;ve since realised that money merely <\/span><i><span style=\"font-weight: 400;\">amplifies <\/span><\/i><span style=\"font-weight: 400;\">a person&#8217;s personality. When good people become rich, they&#8217;ll use the money for good. If they&#8217;re bad, likewise. Money is just a tool, after all. You can use an axe to chop down a tree, or you can use it to remove a barrier. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">It&#8217;s in our collective interest to help good people become rich. Support good people &#8211; people who run social enterprises, people who pay their employees fair wages and provide good working environments, people who work ethically in their companies and organisations. The richer they are, the better the position they&#8217;re in to make a positive difference to our world. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Leave in your comments people and businesses you think we should support. As a final note, do support the sponsor of this post, <\/span><a href=\"http:\/\/www.pidm.gov.my\"><span style=\"font-weight: 400;\">PIDM<\/span><\/a><span style=\"font-weight: 400;\">, too. By <\/span><a href=\"https:\/\/ringgitohringgit.com\/pidm-perbadanan-insurans-deposit-malaysia\/\"><span style=\"font-weight: 400;\">better understanding how PIDM\u2019s protection works and benefits you<\/span><\/a><span style=\"font-weight: 400;\">, you are better equipped to make informed financial choices regarding deposit, takaful and insurance products for you and your loved ones. \u00a0\u00a0\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>According to the Department of Statistics Malaysia, the T20 in this country received 46.2% of overall income share in&#8230;<\/p>\n","protected":false},"author":1,"featured_media":5094,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_kad_post_transparent":"","_kad_post_title":"","_kad_post_layout":"","_kad_post_sidebar_id":"","_kad_post_content_style":"","_kad_post_vertical_padding":"","_kad_post_feature":"","_kad_post_feature_position":"","_kad_post_header":false,"_kad_post_footer":false,"footnotes":"","_jetpack_memberships_contains_paid_content":false},"categories":[7],"tags":[97,747,783,438],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>[SPONSORED] What Rich Malaysians Do With Their Money (That You Don\u2019t) - Ringgit Oh Ringgit<\/title>\n<meta name=\"description\" content=\"What do rich Malaysians do differently with their money, that the rest of us dont? 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