Do you think enough $ for you after retirement on aged 55?

According to EPF statistics, members have an average savings of RM132,539.78 at age 55. Given that an individual can live for about 20 years after retiring, this only leaves him with a mere RM552 per month to live on.Furthermore, Malaysians, generally do not do much financial planning for retirement. HOW ABOUT YOU?

期望

什么是期望？

你期望些什么？物质上享受还是变成有钱人？我想每个人都期望得到越多越好。只因人永远不会满足所以才会期盼将来得到更多。那是一件好事还是坏事？其实，期望可以让一个人更加积极地面对当前或将来事与物。期望得到一所梦寐以求的房屋，一架高贵房车，一举成名。。。还有更多。期望得到一些东西让你的人生有了梦想及目标。那你就会朝着这个方向前进，不断地求进步及吸收更多的知识。以便在不久的将来能够成为一位成功人士。

你选择"人赚钱"或"钱赚钱"

每个父母都希望自己的孩子努力读书，考进大学，然后进入社会找份好工作。
这种想法无可厚非，但是，如果换一个角度来看，这就等于说，每个父母都希望自己的孩子将来帮人家打工，安分的做个上班族。说的更清楚一点，那就等于说，每个父母都希望自己的孩子将来是员工，不是老板。员工和老板有什么分别？分别可大了，最大的分别是，员工是“人赚钱”，老板是“钱赚钱”。员工要朝九晚五的去上班，靠人力赚钱，这就是所谓的“人赚钱”。

而老板付出金钱，请员工帮他赚钱，这就是所谓的“钱赚钱”。
员工的“人赚钱”是有限的，因为他只有两只手，能做的就这么多，而且手停口就停，要永远的做下去，一直到退休的年龄。终其一生，员工的时间是被老板支配，无奈，这就是
“人赚钱”应该付出的代价。
而老板的“钱赚钱”是无限的，十个员工不够用，还可以继续的聘请，要上百，上千都可以。生意越做越大，员工越请越多，老板赚点钱就越多，最重要的是，老板的时间是掌握在自己的
手上，只要可以找到好的员工帮他料理生意，他要去云游四海都可以。

显而易见，做老板是比做员工好很多，但是，很少有父母会勉励自己的孩子，努力的读书，将来好做个老板。是不是很奇怪？天下的父母都是一样的，他们只希望自己的孩子将来是做员工，
不是做老板。

为什么会这样？那是因为多数的父母都只懂得“人赚钱”，所以孩子们也跳不出这框框。父母从小就灌输孩子将来要做个好员工，这种思维根深蒂固，对孩子的影响肯定很大，怪不得这世上，
穷人永远比富人多，因为员工的人数肯定是比老板多。

Do I Need Personal Financial Planning?

“Planning for a secure financial future is not easy”

• Maybe you're saving to buy your first home. 
• Perhaps starting your own business is a dream. 
• The costs of a college education have spiraled and you may wonder how you will pay for your child's education. 
• You will probably live longer. Additional years after retirement can cost more than originally planned. 
• Your EPF may not be enough to maintain your standard of living after retirement. 
• Complex financial marketplace and changing tax laws make it difficult to understand your financial picture. 

Everyone needs to plan for tomorrow. At every income level, there are steps you can take to make more efficient use of your assets and to ensure a secure financial future. It helps to develop well-defined goals and to map out appropriate strategies to turn your dreams into reality. The answer can be personal financial planning.  
 

What is personal financial planning?

Personal financial planning is a process, not a product. It is an organized, well-planned system of developing strategies for using your financial resources to achieve both short- and long-term goals. You may think of the process as helping you to answer three straightforward questions:

• Where am I? 
• Where do I want to go? 
• How do I get there? 
• When should I start planning?

It is important to start planning for the future as soon as you can. Time passes quickly - it is never too soon to start planning for tomorrow.  
 

Who should prepare my personal financial plan?

A well-qualified financial planner should work with you to prepare your plan. A financial planner combines the objectivity and trust long associated with the financial planning profession and the financial savvy developed through years of experience and expertise in personal financial planning. 
 

What should it include?

A comprehensive financial plan - one that addresses your entire financial picture - should include a review of your net worth, goals and objectives, property and other assets, liabilities, cash flow, investments, retirement planning, estate planning, tax planning and insurance needs, as well as a plan for implementing your goals.  
 

I don't have a lot of money. Do I need a full-scale financial plan?

You may not. You can seek out different levels of financial planning advice, from counseling on a particular issue to comprehensive planning. Speak to the financial planners you are considering and discuss with them your budget. You should be able to find one who meets your needs. 
 

What role does goal-setting play in financial planning?

It is important to list both short- and long-term financial goals on paper. You can then rank the importance of the goals. If you are saving toward something tangible, instead of just saving, it may be easier. These goals could include: available cash for emergencies, education for children, care for family members, retirement, a nest egg to permit a career change, acquiring or selling a business, estate planning, financial independence or personal objectives such as a special vacation or second home.  
 

How do I know how much I am worth?

One of the first things that you should do in reviewing your financial situation is to determine your net worth. Many people are surprised to find out how much they are really worth. 

First, estimate the value of your assets. If you have owned your home for a number of years you may be sitting on a nice nest egg. Several different real estate appraisals will help you determine its worth. Organize bank and brokerage statements and record their value. Don't forget assets in EPF. List your liabilities such as mortgage, car loans or credit card debt. Subtract your liabilities from your assets and you will have a good estimate of net worth.  
 

How can I plan for tomorrow when I can barely pay for today?

Create a budget. Determine what you actually spend each month. It is easy to keep track of large expenses such as mortgage andcar payments. The variable items such as food, clothing and entertainment are often what get away from us.  
 

How much should I be saving?

It is hard to apply a rule of thumb toward savings, because it varies with age and income level. Ten percent is a good start. If that amount is too high for you, don't let that deter you. You can start by putting a little money aside each month and slowly increasing it.  
 

How does insurance fit in to the process?

Evaluating your insurance needs is part of personal financial planning. The insurance industry has changed a great deal over the past few years and there is a wide array of new products. Some of them may be better options than your current coverage. Your financial planner can work with your insurance agent to see if you have adequate coverage.  
 

What type of advice can I expect from a Financial Planner?

You can expect objective financial advice that is tailored to meet your financial goals and objectives, as well as the level of risk with which you are comfortable. Depending on your unique situation and goals, your financial planner may confer with your attorney, stockbroker, insurance agent and other investment advisors to achieve the best plan for you.  
 

After a plan is developed, what happens next?

The best plan is useless unless it is put into action. A financial planner can advise you how to implement the plan and can put you in touch with other financial experts as needed.  
 

How often should I update the plan?

It is good to review the plan when there is a significant life event such as marriage, birth, death or divorce. Any change in financial position should be evaluated as well. Many people have an annual update that reviews how the plan is being implemented. The review also considers changing goals and circumstances.

How to Plan for Your Child Education Fund

Children and their education are extremely high priorities for many families. Many are aware that it can cost a fortune to support their children especially for higher education. The cost of higher education has increased dramatically in the recent years. This can result in a tremendous financial drain for a family with college age children.

How Much is Needed?

Generally, the following costs will be needed - tuition fees, books & supplies, travel costs of child including costs of travel of parents & family, and accommodation & food. 

The cost of tertiary education can knock a sizable hole in your savings! See below chart:
 

Year	Malaysia	Australia	US	UK
2000	RM50,000	RM194,000	RM271,000	RM306,000
2004	RM73,700	RM285,000	RM398,000	RM451,000
2009	RM108,200	RM419,000	RM584,000	RM662,000
2014	RM159,000	RM615,000	RM858,310	RM973,000

Living expenses, books, travel costs

If the child is sent overseas, it depends on where. The costs of living expenses, books and travelling also vary significantly. 

For popular destinations like UK, living expenses can be GBP5,000 per year. This approximates to a cost of RM30,000 per year. For Australia, living expenses can be A$10,000 per year. At an exchange rate factor of 2.3, it can cost RM23,000 per year. For this economic reason, many Malaysian parents send their children to study in Australia even though the preference is to study in UK. 

8 Things To Know When Investing In Unit Trust

1. Evaluate the unit trust you are investing
2. Understand your risk profile
3. Track record of the fund manager
4. Look at the cost of operating a unit trust fund
5. How much are you paying the fund managers?
6. Read widely by reading reports on investments news
7. Make sure you read the prospectus
8. Continue to review the fund manager performance by reading reports

Tax Exempted for Unit Trust Earning

The taxation of unit trusts is governed by Section 61 of the Income Tax Act, 1967 (“the Act”). The income of unit trusts is assessed and charged to tax separately from the income of the unitholders. The income of a unit trust may consist of dividends, interest or profit and gain from sale of investments and returns on bonds.
Gains on disposal of investments by the unit trust will not be subject to income tax. The only exception is
where the investments represent real properties or shares in real property companies and the gains on disposal of
such investments will be subject to real property gains tax (“RPGT”) at rates ranging from 5 percent to 30
percent depending on the period of ownership. Due to the Malaysian Government’s efforts to promote unit trusts, most of the income received by unit trusts will be exempt from income tax.