Financial freedom is a habit to spend your hard saved money freely almost on anything, through it spender can achieve happiness, good returns etc. In the past Government around the world with tough tax regime used to make it hard with strict restrictions for their citizens to freely invest their saved money, which as a result, slow the progress of GDP (Gross Domestic Product), because of the lack of economic activities. But nowadays economy is playing a very vital role in the development of the countries, countries with less GDP are considered as less develop nation and vice versa. Malaysia is the third largest economy in the South East Asia, GDP of Malaysia is also very good and country considered as a develop nation. Malaysia GDP per capita is also around 26000 USD per year that shows people of Malaysia has buying power. What Malaysian government can do is that they can soften up some tough economic legislation, allow their people to spend freely, which can further boost the Malaysian economy. Below are the 5 new ways to achieve financial freedom through new online technology for the people of Malaysia.
Although stock market is trade of old economics model in which buyers buy stake or share of the companies and sellers sell the stake or the shares of the companies. But in new economic model stock market has change now around the world. In old economic model anybody who wants to buy or sell shares, had to go through lots of paper work and hectic processes. But the develop countries around the world has enhance their stocks market, by making it online now. It is now hassle free process for buying or selling shares online. In addition to that they have also introduced artificial intelligence application, for predicting the futures that how market will perform. This makes it easier for the investor to invest their money freely and get good returns. Malaysian Government should focus on this as this will attracts lots of investor around the country as well as foreign investors.
Futures are derivative monetary contracts that obligate the events to transact an asset at a predetermined future date and price. Here, the buyers have to purchase or the seller must promote the underlying asset on the set price, irrespective of the current market price on the expiration date. A futures contract lets in an investor to take a position on the direction of a security, commodity or a financial instrument. Investors can use futures contracts to invest on the course in the charge of an underlying asset. Companies can hedge the price in their raw materials or merchandise they sell to shield from adverse charge movements. Futures may only require some fraction of contract amount as a deposit. Besides that there are some disadvantages also like predictable outcome, many investor looks for predictable outcome when investing their money. So this can be a good tool to achieve financial freedom.
3. Online Casino
Casinos around the world are considered as heaven not only for white money investors, but also for black money investors. Many people who have money and does not have good understanding of the businesses, attracts towards casino where they do not have to be a business guru to invest their money, because in casinos it is purely gambling and works on pure luck. So people go to these places to easily gamble their money and try their luck. In a society, many people shy to go in these places, because they think these places are mostly occupied by negative minded people like mafias or criminal. So people do not go there until, they are in dire need of money. So if these casinos are online, people do not have to go in person to these places, rather they can gamble their money online peacefully. Online casinos also insure less human involvement, which can act in favor to gain trust of the gambler, that they will not be cheated. A term used for these types of casinos is “trusted online casino malaysia”. By making it online there will also be a database of gamblers, government authorities can check whether, gambling money is black or white money. So it can be a good way to tackle corruption also.
4. Crypto Currency
With the present online banking model, people are always worried about security and exchange prices. But with Crypto Currency these are not the issues. Crypto Currency is very secure, it is very hard to hack Crypto Exchanges because they are based on block chain technology and as far as exchange prices are concern, one Crypto Currency is equal to One Crypto Currency because it is universal currency. Crypto Currency is the future currency, at the moment their conversion prices are low because most countries have not yet adopt this currency. But when countries start to adopt it, their conversion prices will be sky rocketed. So countries which will adopt earlier will be at advantage due to low conversion price.
5. Angel Investing
Investing early in start ups in return of some ownership share is called Angel Investing. Many big start ups like Uber, Facebook, Whatsapp, Oculus had Angel Investing at the start of the entrepreneurship. It is a perfect model for entrepreneur and investor for making start up a success story. This phenomenon is running successfully around the world. Many starts up which were started from scratch are now billion dollars entity. When Angel Investor invest their money they also provide technical assistance to make start up a success story because they have their share in it and its make easier for entrepreneurs to work. Malaysian government must do legislation to support this.
Malaysia is already a powerful economy of South East Asia but in order to become powerful economy of Asia or of the world, Malaysia government can try implementing above mention ways. In these days country with good economy is considered as super power.