You have to learn to plan well to retire well. Year-end is usually the budget time for organisation and companies and it could be also the right time for personal planning. As I have said in my previous posts, if you fail to plan, you plan to fail.

Face Your Fear

I asked my young son “Why are you broke before the end of the month?” and he shakes his head with the answer “I don’t know”. Then, after pondering a moment, he said “Maybe because I earn too little, I am going to look for a better paying job.” Well, that may be somewhat true but frankly speaking, no matter how much you earn, it will never be enough unless you put up a good financial plan.

When asked to write down all his monthly expenses, his response was “No way, I am not going to shock myself”.

I felt this is the common fear people faced when its time to financial plan. I would advise all to take the bull by the horns and go for it. Face your fear and find out where you are wasting your money and what is causing you not to be able to save.

continue reading "Plan Well to Retire Well"

John Wesley who founded the Methodist Church in the 18^th century used this simple rule to teach God’s love. Universally, God’s love is doing good works.

Do all the good you can,

By all the means you can,

In all the ways you can,

In all the places you can,

At all the times you can,

To all the people you can,

As long as ever you can.

By John Wesley

continue reading "Giving Back to Society"

December is the time of the year where people make resolutions to be better for the next year. The Christmas and New Year festivities allow us to spend relaxing time with our family and friends, reflect on the past year’s achievements and shortfalls and shout out our resolutions for the new year.

Yes, the usual resolutions are to lose that extra 10 kg you have gained over the year or to stop smoking or even to be a better person by promising yourself to do a few good deeds a day; give up your seat in public transportation to the elderly, disabled and pregnant etc etc. All these are fine and good but let us change the theme for this year’s resolution.

How about setting a goal to retire young and rich? It is a lifetime goal and if you have set this goal then your next 5 years’ resolutions will be set for you. In fact, your new year resolutions are set for life as you now have a life long direction. Here are 5 I can think of on top of my head; maybe you have more to share……

continue reading "“Retire Young & Rich” – Next New Year Resolution theme"

Every one has to retire at one point or the other. Whether you retire early or late depend very much on your financial situation and your family background. Some who are late starters; meaning those who are almost at retirement age but still having young children might not be able to retire early even if they want to. Others are luckier in the sense that they have their retirement years all planned out.

Remember, when you retire you are expected to draw on your retirement funds and investment portfolios for at least a minimum of 25 years; some may be longer depending on individual life span.

Here are 3 things you need to do before you retire:-

continue reading "Preparing Yourself for Retirement"

You don’t have to be a qualified analyst or have a degree to trade in the market. To earn good income from trading can be an option for anyone who has a keen mind and a willingness to learn. Time will help you excel in this skill. Here is a few pointers to help beginners get started.

1. Read, Read and Read

The man who doesn’t read good books

has no advantage over the man

who can’t read them.

Mark Twain

continue reading "Anyone can trade in the stock market"

Sometimes when you read on “Investing” topics and “Investing” books, you get all kinds of advice, all kinds of strategies and all kinds of methods to invest. At times you even get contradictory strategy. Some says to diversify, others advise to stick to one; all with good reasons… So, who do you listen to?

Then, you might be told to listen to the successful ones and do exactly what they do and you won’t go wrong. Here again there are so many successful ones with different methods and ways. If you are new to investing, you get more confused. Some might just give up on their quest to invest.

continue reading "Strategise Your Investing"

Today is Sunday, I woke up ready to have a lazy day but when scanning news online, I had headline like this “1,600 turn to Bank Negara’s AKPK unit every month” screaming at me. This is alarming for a small country like Malaysia.

These 1,600 individuals turn to the Credit Counselling and Debt Management Agency (AKPK) for help to manage their debts. What about those who are also in debts but are not aware yet and also there are those already in debts and trying to clear them on their own to save their pride. I am appalled by just thinking about it.

As reported by Rashvinjeet S Bedi, the number seeking help monthly has tripled since the agency was set up 18 months ago. And I am sure it will continue to rise if nothing is done to educate these people about how to handle their personal finances.

continue reading "Financial Literacy - your insurance to living"

I was posed a question about gambling. Is gambling in a casino a kind of investing? I always believe that there is actually a very very fine line between investing and gambling and if you are “sober” you will definitely be able to see that line.

Of course, clearly enough, if you go to a casino with a lot of cash, you are going there to gamble, hoping to win more money than you are prepared to lose. And this kind of “hope” has a 90% chance of disappointing you.

Many risk-taking choices are referred to as “gambling” but investments are usually not considered gambling, although some investments can involve significant risk. Some examples of investments can be stocks and shares, bonds, real estate and businesses.

Wikipedia explains that “Investments are generally not considered gambling when they meet the following criteria:”

• Positive expected returns (at least in the long term)
• Economic utility
• Underlying value independent of the risk being undertaken

continue reading "Stock Market Investing or Gambling?"

Success is as predictable as the sun will rise in the east and will then set in the west everyday, 365 days a year. Success is not simply being in the right place at the right time. Success is not meeting one rich person who will help you out. Success is also not a matter of just good luck.

Success will only happen to you if you want it to. You have to work for it. You will have to learn all the success principles and guides given by all the “gurus” of the world and by putting into practice all you have learned you will then be moving to the front line of your life. Once you have attained those principles, you will have an incredible advantage over people who do not yet know or is willing to learn and put such techniques and strategies into practice. You will have the winning edge for the rest of your life and career.

continue reading "Success is Predictable"

Most chaotic situation are caused by the reaction of human population. Sometimes a single action causes a chain of reactions which make situation get from bad to worst.

This is so true to life that I felt compel to share with all the visitors of this site. This 90/10 Principle is by Stephen Covey and is applicable to your business situation as well.

I once heard a simple story of a rich man who display a lot of expensive antiques in his home. One day his seven-year old son accidentally knocked down one of his favourite expensive vase and broke it to a thousand pieces. The normal reaction of a human being is to scold or even beat up the poor frightened boy but the reaction of this wise man was so touching. He not only did not get upset or angry, he was all concerned and fussed over the boy. “Did you hurt yourself” he asked, ” Did the sound of the breaking vase frightened you?” and he knelt down beside the boy hugging him tight, ignoring the broken vase entirely.

When asked by his visitor who happened to witness the incident, his explanation was simple. “I can replace any expensive items in this house but not my son; he is my only priceless possession.”

My outlook of children upbringing changed at that moment onwards.

continue reading "Discover the 90/10 Principle"