April is coming to an end soon. I nearly forgot that I still own my reader another part of my entry regarding Managing your Money Easily the RULES #4 to 6. Been quite occupied in attending Baby Shower of Clients and Friends.
RULE #4, RE-FINANCE YOUR MORTGAGE LOANS. With the current competative rate among the banks, there is no lack of attractive loan package. So if you have fulfilled your lock-in period for your Home MOrtgage, it is a good time to look at re-financing it. The savings from a re-finance loan can be quite substantial due to the interest difference (but be sure taken into consideration the cost involved for re-financing). An equally good solution would be for your current financing bank to re-price your mortgage package at the rates aligned with prevailing ones. If the amount is significant enough, you can consider using it to knock down your mortgage principal which can reduce your monthly installment amount or loan tenor effectively.
RULE #5, LOOK OUT FOR OFFERS HELP YOU TO SAVE AS YOU SHOP. It's the year end and festive season is high, feel free to indulge yourself and family on that well deserved holiday, home entertainment system, family cars etc. But be on diligent lookout for good offers and special promotions which can enable you to save as you shop. Scan your daily tabloids carefully for discounts on travel, food. electrical appliances etc. And dont be so quick to delete those GROUPON or bigdeal spams that find their way to your inbox (just be sure to read the terms and conditions).
RULE #6, USE YOUR CREDIT CARDS TO YOUR ADVANTAGE. We have been warned against the indiscretionary use of Credit Cards. However, if you are able to settle your cards bills fully and on time, they are very good instruments for you to earn cash rebates to offset future bills or gain reward points to redeem for air travel, dinning or other forms of retail purchases. So there is not need to stay away from Credit cards if you use them wisely, appropriately and to your advantage.
In conclusion, decide now and start taking concrete actions for your financial future. The choice is infront of us: either you take action now to enjoy your retirement, or do nothing now to retire from your enjoyment.
Sunday, April 22, 2012
Thursday, April 19, 2012
Insurance rep : the man you like to hate
After watching this video, would make you change the perception of What Insurance Adviser or Financial COnsultant do. In our job scope is simply very simply is enable you to understand what you can do beside working hard for MONEY, dont forget the importance of getting yourself and family covered in terms of the MISHAPs.
Wednesday, March 28, 2012
Managing your Money Easily.
Had been quite a long time since my last entry in 15th March, have been quite occupied with my appointments and having lots of Baby Shower to attend.
So happy for my friends and clients who gotten married and having their own family. In the early March, went to attend a friend of my hubby baby full month. And was quite surprise to know that his baby went for checkup yesterday and discover that he have 2 small hole in his heart. May God bless this baby, everything will turn out fine. Every Parents would wish that their child would be perfect health, but somehow or rather sometime it is unavoidable.
For Parents to be, please take note of my previous entry on Baby Insurance. Currently only 2 companies having this kind of Insurance. Do view the page for more information.
I would like to share on a interesting article which I gotten from my IFPAS Quaterly Magazine, which is MANAGING YOUR MONEY IN 6 SIMPLE WAYS.
I believe every company have their own budgeting before a Brand new year come. And why cant us, also have a budgeting before a brand new year arrive? In this article it stated about 6 rules in managing your $$$$.
RULE #1, PAY YOURSELF FIRST. To be sure of paying yourself first, you need to make a commitment to set aside regular amount every month from your paycheck, and make this money work harder for you. This can be done by buying a regular endowment savings or a regular investment plan. These 2 are systematic and automatic ways to help you to "get pay 1st" every month before anything else. It also help you to battle the EVIL inflation so you can maintain your current purchasing power.
RULE #2, SAVE UP TO 30% OF YOUR INCOME. It is always tempting for us to "enjoy now and think later". And this kind of thinking can be slippery path down to disaster for our financial in mid to long term with great impact on our CHILD's education and also our own retirement plans. So begin to set aside 30% of your income in an automatic and systematic way mention in RULE #1 NOW.
RULE #3, LEVERAGE ON THE POWER OF COMPOUNDING INTEREST. When we talk about Financial Planning, what is on your mind currently? Base on my experience in this financial planning industry, everyone always say NOT NOW, TOO BUSY, NOT AT THIS MOMENT etc... And many people like to procastinate the idea of financial planning. Procastination will have a toll on the ability to harness greater returns on their investments. Compounding interests is a powerful tool but its potential can be maximised full with a long term horizon. Moreover, with a longer time horizon, the investment risk factor is also reduced in the long run. Example; if you start saving $1000 monthly at age 40 for 25 years. At AGE 65, an estimated 5% pa returns from a diversified portfoilio of assets classes, your capital of $300 000 will accumulate to $572 725. But however, if you started accumulating earlier at age 25, with the same rate of returns, you only need to save $625 monthly for 40 years for the same principle amount of $300 000, and your accumulation would also increased 1.5 times to $905 998.
I shall end here. Look out for my next entry on RULE #4-6.
So happy for my friends and clients who gotten married and having their own family. In the early March, went to attend a friend of my hubby baby full month. And was quite surprise to know that his baby went for checkup yesterday and discover that he have 2 small hole in his heart. May God bless this baby, everything will turn out fine. Every Parents would wish that their child would be perfect health, but somehow or rather sometime it is unavoidable.
For Parents to be, please take note of my previous entry on Baby Insurance. Currently only 2 companies having this kind of Insurance. Do view the page for more information.
I would like to share on a interesting article which I gotten from my IFPAS Quaterly Magazine, which is MANAGING YOUR MONEY IN 6 SIMPLE WAYS.
I believe every company have their own budgeting before a Brand new year come. And why cant us, also have a budgeting before a brand new year arrive? In this article it stated about 6 rules in managing your $$$$.
RULE #1, PAY YOURSELF FIRST. To be sure of paying yourself first, you need to make a commitment to set aside regular amount every month from your paycheck, and make this money work harder for you. This can be done by buying a regular endowment savings or a regular investment plan. These 2 are systematic and automatic ways to help you to "get pay 1st" every month before anything else. It also help you to battle the EVIL inflation so you can maintain your current purchasing power.
RULE #2, SAVE UP TO 30% OF YOUR INCOME. It is always tempting for us to "enjoy now and think later". And this kind of thinking can be slippery path down to disaster for our financial in mid to long term with great impact on our CHILD's education and also our own retirement plans. So begin to set aside 30% of your income in an automatic and systematic way mention in RULE #1 NOW.
RULE #3, LEVERAGE ON THE POWER OF COMPOUNDING INTEREST. When we talk about Financial Planning, what is on your mind currently? Base on my experience in this financial planning industry, everyone always say NOT NOW, TOO BUSY, NOT AT THIS MOMENT etc... And many people like to procastinate the idea of financial planning. Procastination will have a toll on the ability to harness greater returns on their investments. Compounding interests is a powerful tool but its potential can be maximised full with a long term horizon. Moreover, with a longer time horizon, the investment risk factor is also reduced in the long run. Example; if you start saving $1000 monthly at age 40 for 25 years. At AGE 65, an estimated 5% pa returns from a diversified portfoilio of assets classes, your capital of $300 000 will accumulate to $572 725. But however, if you started accumulating earlier at age 25, with the same rate of returns, you only need to save $625 monthly for 40 years for the same principle amount of $300 000, and your accumulation would also increased 1.5 times to $905 998.
I shall end here. Look out for my next entry on RULE #4-6.
Friday, March 09, 2012
The Legacy You Leave?
All You will leave behind for the world to remember is
Your Legacy, so ask yourself: Will you have earned the respect of your peers and the admiration of your critics? Will you have acted humbly at the peak of success and graceful in the face of defeat? Will you have kept your childlike wonder and reveled in the beauty of the world and the small miracles that each day brought?
Will you be remembered for how often you laughed and brought smiles to the hearts of others? Will small children and the elderly have been overjoyed to be around you? Will others have trusted you with their inner most secrets? Will you have forgiven and offered heartfelt apology? Will you have looked for the very best, and done your utmost to build worth, in orders? Will you have fed a hungry child or clothed a naked man or given hope to a stranger in dire need? Will you have left this world a better place by the life you have lived? What kind of Legacy will You Leave? All your actions, words, and knowledge that you share while you are living become the gift that you leave when you are gone.
Quoted ~ Jim Allen
.
Your Legacy, so ask yourself: Will you have earned the respect of your peers and the admiration of your critics? Will you have acted humbly at the peak of success and graceful in the face of defeat? Will you have kept your childlike wonder and reveled in the beauty of the world and the small miracles that each day brought?
Will you be remembered for how often you laughed and brought smiles to the hearts of others? Will small children and the elderly have been overjoyed to be around you? Will others have trusted you with their inner most secrets? Will you have forgiven and offered heartfelt apology? Will you have looked for the very best, and done your utmost to build worth, in orders? Will you have fed a hungry child or clothed a naked man or given hope to a stranger in dire need? Will you have left this world a better place by the life you have lived? What kind of Legacy will You Leave? All your actions, words, and knowledge that you share while you are living become the gift that you leave when you are gone.
Quoted ~ Jim Allen
.
Tuesday, March 06, 2012
CPF LIFE
Been quite a long time never blogging and finally I am back now. Plan to blog down the changes of the recent CPF Life that Singapore Government imposed.
I believe that since end 2009, CPF LIFE scheme allows elderly Singaporeans to receive a monthly income for as long as they live, with the amount depending on their savings in their Retirement Account (RA).
Currently, Singaporeans opting into CPF LIFE can choose from four plans, the Plus, Basic, Income, and Balance plans.
With the changes to the scheme, CPF LIFE will comprise of a new default Standard Plan — which combines the Balance and Plus Plans — and the current Basic plan. The Income Plan will be dropped
Hopefully these information are useful to some people reaching 55 years by Jan 2013. Personally, I feel that these CPF LIFE scheme is beneficious for people as now people have longer Life Spend. But the monthly payout isnt enough to depend on. Therefore dont you think that is important to grow your retirement funds instead of relying on your existing CPF.
Is important to do FInancial Planning for yourself as early as possible in order to step into Financial Freedom.
I believe that since end 2009, CPF LIFE scheme allows elderly Singaporeans to receive a monthly income for as long as they live, with the amount depending on their savings in their Retirement Account (RA).
Currently, Singaporeans opting into CPF LIFE can choose from four plans, the Plus, Basic, Income, and Balance plans.
With the changes to the scheme, CPF LIFE will comprise of a new default Standard Plan — which combines the Balance and Plus Plans — and the current Basic plan. The Income Plan will be dropped
Hopefully these information are useful to some people reaching 55 years by Jan 2013. Personally, I feel that these CPF LIFE scheme is beneficious for people as now people have longer Life Spend. But the monthly payout isnt enough to depend on. Therefore dont you think that is important to grow your retirement funds instead of relying on your existing CPF.
Is important to do FInancial Planning for yourself as early as possible in order to step into Financial Freedom.
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