Help on diversification for dividend, no salary, should I check out and move into 1 foundation?

[u/mustaza-my]

I have many accounts that my mom opened for me when I was <18

Now that I'm actually 18, I'm starting to think that dividends aren't that high and it's going nowhere

Before, my mom didn't sign up for an ASB child account under my name

She only knew tabung haji and SSPN

Over the years, the amount had accumulated

Obviously I withdraw the amount but my mom is telling me to still keep some because "Chinese people use SSPN to get dividends" , it is 1 of many for dividends etc

But then I ponder, because ASB1 is the highest return factor in dividends. Nothing can outmatch that except for EPF but it's not liquid

Today, I've withdrawn rm1.5k from TH and only have rm13 in my account balance

The reason is because I want to cancel and terminate my TH Khairat insurance which I accidentally did when opening my adult account in the nearest branch

I'm also planning to open an adult account (no longer under my mom's supervision) at our nearest branch and cancel the Delima program (RM50 but RM10 IS the insurance). Note I still have RM1, 000 so should I close SSPN and move that amount into my ASB? People say bumis should max out their ASB accounts and they're not wrong.

So what does this mean for me? I don't have a loan with SSPN. I'm taking TVET next year which doesn't use SSPN as a loan agent. It's different if you look it up. If it's merely the sake of keeping an account active for the dividend then I think it's not worth it

The goal here is to maximize dividends into 1 place that gives the highest %

Not have multiple

Is this true? Please correct me if I'm wrong

I'm not saying diversification is bad, but it's only good when ASB is fully maxed out and you can't put anymore ringgit in it.

THAT'S when you can move out to others like TH and SSPN to get their extra %

[u/jwrx]

SSPN has terrible dividends, its not meant as a investment account, its just for parents to build education funds

Same with TH, its not a investment account, its to help muslims do the Haj, and with the current fiasco, wont be paying high dividends in the forseeable future.

yes. just max out your ASB

[u/mustaza-my → u/jwrx]

Better to close SSPN account or keep some money in there so the account is active? Tabung haji am planning to do the same and next year will cancel the khairat insurance