IN the hustle and bustle of today’s world, ensuring financial security and planning ahead have become paramount.

Often people find themselves juggling multiple financial goals, whether it's saving for a dream vacation, funding their children's education, preparing for retirement, or simply seeking to build wealth for the future.

Financial literacy, particularly among the younger generation, has emerged as a key skill necessary for navigating the complexities of modern life.

Studies such as the Ringgit Plus Malaysian Financial Literacy Survey 2023 and Youth Capital Market Survey by the Securities Commission (SC) highlight a concerning gap in financial knowledge among Malaysians.

For instance, the SC’s Youth Capital Market Survey indicates that many young people lack confidence in making investment decisions, with a significant number unaware of basic financial concepts.

Specifically, the survey shows that Malaysian youth have low knowledge of capital market products, with many feeling intimidated by investments and believing they need a large amount of money to start investing​​.

It indicated that between 60% and 75% of young people’s income goes to utilities and daily expenses, leaving only about 5% to 10% for savings and investments. This demonstrates a significant lack of financial confidence and planning​​.

Similarly, the Ringgit Plus Malaysian Financial Literacy Survey 2023 reveals that 51% of Malaysian adults have not started investing, and 51% of Gen Z Malaysians spend exactly or more than what they earn each month​​.

Additionally, the Federation of Investment Managers Malaysia (FIMM) 2021 Investors’ Financial Literacy survey reveals that 80% of non-investors lack literacy about unit trust schemes (UTS), and more than 90% are unaware of private retirement schemes (PRS), highlighting the broad scope of financial literacy challenges in the country​​.

Amidst these challenges, Maybank Goal-Based Investment offers a comprehensive solution designed to enhance financial literacy and empower individuals to achieve their financial objectives.

For example, addressing retirement goals, the tool provides personalised portfolio recommendations to help users plan and invest for their future living expenses, countering the widespread lack of knowledge about PRS.

In terms of education, whether for themselves or their children, the tool’s flexible contribution options with no monthly commitment make it easier for individuals to save regularly and plan for educational expenses in advance.

For those looking to grow wealth, Maybank Goal-Based Investment encourages people, even with modest incomes, to start investing and overcome the intimidation factor highlighted by the surveys.

Launched recently, Maybank Goal-Based Investment is a revolutionary tool catering to Malaysians aged 18 to 55, providing an accessible and personalised investment solution.

This innovative product offers a low initial investment starting from RM200, flexible contributions with no monthly commitment, and personalised portfolio recommendations based on individual risk profiles and financial aspirations.

Available on both the MAE app and Maybank2u website, this investment tool makes financial planning seamless and hassle-free.

Recognising that investing can be daunting, especially for those who are new to it or have limited financial knowledge, Maybank aims to make investment accessible and straightforward, empowering Malaysians to take control of their financial futures.

Simple and user-friendly

One of the standout features of Maybank Goal-Based Investment is its user-friendly approach.

By leveraging the MAE app and Maybank2u web platforms, users can set up and manage their investments in just a few clicks.

The intuitive interface guides users through the process of defining their financial goals, assessing their risk tolerance, and selecting appropriate investment funds.

With a minimum investment amount of RM200, even those with modest savings can begin their investment journey.

Furthermore, there is no lock-in period, providing investors with the flexibility to adjust their contributions or withdraw funds as needed.

This flexibility is particularly appealing to younger investors who may have fluctuating incomes or changing financial priorities.

A hands-on approach

Maybank Goal-Based Investment is not just about investing money; it’s about building confidence and a proactive approach to financial management.

It provides hands-on financial management experience, emphasising goal setting and progress tracking to motivate users.

By aligning with the SC's strategic goals of enhancing investor education and protection, Maybank aims to elevate financial literacy levels nationwide.

This approach not only provides users with the tools they need to invest wisely but also educates them on the importance of long-term financial planning.

To cater to the diverse financial values of its customers, Maybank offers both conventional and Shariah-compliant funds.

This inclusivity ensures that all Malaysians, regardless of their financial preferences or religious beliefs, can benefit from this innovative investment tool.

A guided investment experience

One of the significant barriers to investing is the cost associated with management fees and sales charges.

Maybank addresses this concern by offering competitive fees ranging from 0% to 1.5%, depending on the chosen funds.

Furthermore, Maybank Goal-Based Investment is supported by professional fund managers who ensure that the funds are managed efficiently and effectively.

The tool provides personalised portfolio recommendations, taking into account the user's financial goals, investment horizon, and risk appetite.

This guided approach helps investors make informed decisions and stay on track to achieve their financial aspirations.

Real-life impact

The impact of this innovative tool extends beyond individual investors.

By promoting financial literacy and encouraging long-term financial planning, Maybank Goal-Based Investment contributes to the broader economic stability and prosperity of Malaysia.

It empowers individuals to take control of their financial futures, leading to a more financially secure and resilient society.

Whether you're a fresh graduate just starting out, a young family planning for the future, or an experienced investor looking for new opportunities, the investment tool offers something for everyone.

With conventional and Shariah-compliant options, competitive fees, and regulatory oversight from the SC, this tool is set to become a game-changer in the world of personal finance.

For more information on Maybank Goal-Based Investment, visit Maybank2u website or download the MAE app.

Additionally, from now until June 25, investors can enjoy a promotional 0% sales charge on their initial investments. Terms and conditions apply.

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