Lo Kheng Hong points out that this practice of Indonesian citizens makes them poor

Jakarta, CNBC Indonesia – Saving does not always make someone rich. According to former investor Lo Kheng Hong, this practice actually erodes wealth or even makes people poor slowly.

This is because the interest earned from saving money in the bank cannot maintain the value of the money which is eroded by inflation. “Saving money in the bank makes us very slow because the value of our money is decreasing day by day,” said Lo Kheng Hong when he was a speaker at the Capital Market Summit & Expo ( CMSE), which was announced on Sunday (5/2).

Not only that, Lo Kheng Hong chose not to buy bonds or debt, because according to him the interest given was not great. “I don’t buy gold anymore,” said Lo Kheng Hong.

Lo Kheng Hong is only interested in buying shares because it has been proven that he is rich and has hundreds of billions of assets. Who would have thought, he had made huge profits from the shares of PT United Tractors Tbk (UNTR), and that was the first moment he made huge profits from stock investments.

He revealed the main reason that made him invest in shares, especially in Indonesia. “Indonesian stock exchange offers the highest returns among the main stock exchanges in the world for long-term investors. It is proven! I am grateful that I am on it,” said Lo Kheng Hong.

So far, Lo Kheng Hong said, almost 99% of Indonesian people do not think that stock investment is the best choice. People prefer to put money in banks or buy property, rather than buy shares.

Lo Kheng Hong is a very deep person and can spend a long time reading financial reports. Lo’s efforts in examining financial reports show that he was not careless in choosing shares for investment.

(mkh/mkh)

Habits of RI citizens that look good but make them poor