Hi Fellow friends of my Blog, I am finally back for Blogging since so many donkey Months. This entry will be my 1st since the beginning of 2013. First of all, I wanna wish everyone a Happy Lunar New Year. Gong Xi Fa Cai.
My appology to update my blog after so many months interval. As I was busy with my family Matters. And today I am going to share with you on my Personal Experience with my Dad's Illness.
My dad was a ALS patient, which was a Neuro Disease. In Singapore, every year there are only 50 people diagnosed this condition. This neuro disease actually was the nerve that control our body Muscle have been sort of broken or destroy. Therefore when this happen it will cause your whole body muscle to loose its function. Below is a Video on ALS disease.
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This entry to create awareness of this condition. As the Long term care for this type of patient in Singapore wasnt really aware. And in terms of financially support, it can be a huge headache for your loved ones. Above this is my own experience. Will share with you more again
Monday, February 18, 2013
Friday, October 05, 2012
Will --> Tools used in Estate Planning
To begin with, all of us must understand what is Estate Planning. Is Estate Planning neccessary for only for Rich people? For middle income earners like 95% of the population, do they need to? The answer is YES.
Actually Estate Planning is a process that involves Evaluation of an Individual's financial & personal circumstances in order to prepare for future financial needs and the needs of his dependents.
The First tools which I am planning to share with you all are WILL. In making A WILL, the testator have to appoint an executor (who is above 21 yrs old, mentatily sound and is a non bankruptcy person) to help him to distribute the assets according to his WILL. If this is used, it can only be excerise during the Death of the testator. And the deceased's Estate have to undergo the "Probate Process". Probate is the Court Order authorizing the executor appointed to administer the deceased's estate. The executor have to extract the grant of the Probate before he can distribute the property according. *The executors can be the beneficiaries of the deceased.
Actually Estate Planning is a process that involves Evaluation of an Individual's financial & personal circumstances in order to prepare for future financial needs and the needs of his dependents.
The First tools which I am planning to share with you all are WILL. In making A WILL, the testator have to appoint an executor (who is above 21 yrs old, mentatily sound and is a non bankruptcy person) to help him to distribute the assets according to his WILL. If this is used, it can only be excerise during the Death of the testator. And the deceased's Estate have to undergo the "Probate Process". Probate is the Court Order authorizing the executor appointed to administer the deceased's estate. The executor have to extract the grant of the Probate before he can distribute the property according. *The executors can be the beneficiaries of the deceased.
Tuesday, August 21, 2012
August 2012
Hi Everyone, I am finally back to Blogging after such a long Delay. An Important person to me have Passed away during the Begining of August. Which is my Uncle, whom I mention in my entries before. He have finally gets his relief after 8 months fight with the Cancer. And I believe my Uncle currently will be having a peace of mind in another world, without any arguement with the Sons.
I understand that from my previous posts, I share about Estate Planning. And I promise you guys before I will share more in deep based on my understanding in another entry. But today I wanna share with you guys some interesting Quotes which I gotten from different places, and disclaimer I do not own them, I just find it interesting and wanna share with you all.
Sunday, July 15, 2012
Taxation and Estate Planning
Have been 2 months since I last updated my entry. Been quite occupied with my studies in Chartered Financial Consultant (CHFC) certification. Have failed my Modules 3 exam 2 times then passed in the 3rd time.
In this 3rd module, I learned about Taxation and Estate Planning. In taxation, I understand, how do IRAS calculate our individual taxes, and what is classified under tax deductible and what's not. For Biz owner, like self-employed or Partnership biz, what is kind of biz expenses are deductible. ;> And under Estate Planning, what is essential tools to use WILL, NOMINATION, TRUST and POWER OF ATTORNEY etc.
The several tools serve different purposes in Estate Planning. I will share with you all more regards about the Individual Estate Planning tools in my next entry soon.
A short video on Basic of Estate Planning,
In this 3rd module, I learned about Taxation and Estate Planning. In taxation, I understand, how do IRAS calculate our individual taxes, and what is classified under tax deductible and what's not. For Biz owner, like self-employed or Partnership biz, what is kind of biz expenses are deductible. ;> And under Estate Planning, what is essential tools to use WILL, NOMINATION, TRUST and POWER OF ATTORNEY etc.
The several tools serve different purposes in Estate Planning. I will share with you all more regards about the Individual Estate Planning tools in my next entry soon.
A short video on Basic of Estate Planning,
Friday, April 27, 2012
Poor, Middle Class or Rich?
The 1st things, I understand from the speaker (who is the CEO of the success resources, and his mentor is Mr Robert Kiyosaki). There are basicially 3 different classes of people,
1> Poor, are those people who totally doesnt have any clue on Money, who cant wait to get rid of their money the moment when they got their salary. Worst is that they live on Credits. Spend more than what they earn.
2> Middle Class, are those people with little knowledge on Money, and usually their liabilities are more than their assets.
3> Rich, are those people who can let their money work hard for them, and usually their assets are more than their liabilities. And they have more money left behind after minus off their expenses.
And the next things, I understand are
1> The differences between Poor and Broke. Do anyone of you understand what are the different? And which one is more worst?
The speaker mention about this, and he say Broke is just temporary and Poor is forever. Actually what he really meant was that Broke just means that you doesnt have money now, but you never lost hope in doing the things you want to do. On the other hand, Poor is not only dont have the money, but also think that no matter how hard you try, the things doesnt work out. So you choose to stay at what you are doing without doing new things.
2> Do you all know what is the difference between rich and wealthy then? Which one do you wanna be? As for me, I want to be Rich and Wealthy at the same time. ;>
The main difference between these 2 actually are very simple, Rich is just having the money but doesnt have the time to spend. Today I can win a lottery and become Rich over night. But doesnt mean that I can keep the money if I do not have the right financial education. Meanwhile, Wealthy means not only be rich but also have the luxury of time to do whatever things you wanna do and you have the ability to keep the money by your side cos you have the right financial education.
Hopefully, after reading this entry, you guys will be able to understand the theory behing it and be a Rich and Wealthy Person by having the right financial education. ;>
Just in case, if anyone interested to know who is Robert Kiyosaki, here is a video of him..
1> Poor, are those people who totally doesnt have any clue on Money, who cant wait to get rid of their money the moment when they got their salary. Worst is that they live on Credits. Spend more than what they earn.
2> Middle Class, are those people with little knowledge on Money, and usually their liabilities are more than their assets.
3> Rich, are those people who can let their money work hard for them, and usually their assets are more than their liabilities. And they have more money left behind after minus off their expenses.
And the next things, I understand are
1> The differences between Poor and Broke. Do anyone of you understand what are the different? And which one is more worst?
The speaker mention about this, and he say Broke is just temporary and Poor is forever. Actually what he really meant was that Broke just means that you doesnt have money now, but you never lost hope in doing the things you want to do. On the other hand, Poor is not only dont have the money, but also think that no matter how hard you try, the things doesnt work out. So you choose to stay at what you are doing without doing new things.
2> Do you all know what is the difference between rich and wealthy then? Which one do you wanna be? As for me, I want to be Rich and Wealthy at the same time. ;>
The main difference between these 2 actually are very simple, Rich is just having the money but doesnt have the time to spend. Today I can win a lottery and become Rich over night. But doesnt mean that I can keep the money if I do not have the right financial education. Meanwhile, Wealthy means not only be rich but also have the luxury of time to do whatever things you wanna do and you have the ability to keep the money by your side cos you have the right financial education.
Hopefully, after reading this entry, you guys will be able to understand the theory behing it and be a Rich and Wealthy Person by having the right financial education. ;>
Just in case, if anyone interested to know who is Robert Kiyosaki, here is a video of him..
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