The MAE app now has a goal-based investing tool! 🤯

It also has a financial simulator that helps you to plan and invest according to your financial goals.

You can choose between Growing Wealth, Saving for Education, or Retirement.

Based on your risk appetite, the app will automatically build a portfolio for you from over 30 unit trusts.

By selecting “Growing Your Wealth”, you can set a specific financial goal that you want to achieve by a certain age.

The simulator will calculate the monthly contributions required and recommends a suitable portfolio to invest.

As an example, we set our target at RM100,000 by 37 (or by the year 2034).

Notice that the final goal indicated is RM138,357.66.

The simulator automatically adjusts for inflation and makes realistic living cost estimations.

Our plan was to start with RM200 and contribute RM500/month to our investments.

At this rate, the simulator has notified us that there is an RM51,422.16 gap to reach our goal.

We would have to contribute at least RM798 per month in order to achieve it based on our risk appetite.

With the monthly contributions in mind, the simulator recommends a custom portfolio to achieve our goals.

In this case, it went with an Islamic Portfolio that invests in a mix of equities, fixed income, and other assets.

If you prefer to work on your own selections, you can build a custom portfolio from a list of over 30 unit trust funds.

Upon confirmation, the amount will be deducted from your account on the 12th of the following month.

You can switch it off to pause your Monthly Auto-Deposit at any time, with no additional charges.

Alternatively, you can choose a one-time deposit then add more funds whenever you see fit.

The minimum investment is RM200.

There are 0% sales charges* now on your first investment for each goal until 25 June 2024.

*T&Cs Apply.

After the first investment of a goal, the fees can range from 0% to 1.5% for subsequent investments. ⚠️

“What if I want to use the funds?”

You can remove your goals anytime, and the funds will be credited into your account.

Note that by doing so, you may be sacrificing the opportunity to grow your wealth over the long term.

“How do I start?”

1. Download the MAE app.

2. Swipe through 'Quick Action' & tap 'View All'.

3. Select "Goal-Based Investment" icon.

4. Complete a Suitability Assessment to determine your risk level.

5. Select the category of your goal: Retirement Goal, Education Fund, or Grow Wealth.

6. Start investing from as low as RM200!

Click here to explore the portfolios and funds offered: https://www.maybank2u.com.my/maybank2u/malaysia/en/personal/wealth/digital_wealth/goal-based-investment-en.page

“Ok, tell me the risks.”

Since this is an investment, the returns are not guaranteed.

The value of your investments can fluctuate depending on various factors such as your risk appetite, time horizon and financial goals.

Maybank Goal-Based Investment is also not protected by PIDM.

Our verdict

We’ve tried it for the first month and our experience has been quite pleasant (so far).

The registration process can be quite lengthy, but the purpose of it is to fully understand your financial goals.

We’ll post updates of the fund’s performance here in the next few weeks, so stay tuned!

DISCLAIMER: This article is sponsored by Maybank. Investing in unit trust funds has its own risks and is different from opening a deposit account with a financial institution. You should speak to a financial planner before making any investing decisions. ⚠️