Malaysian women have made great strides in financial and retirement planning over the past few decades, but more needs to be done. According to HSBC’s report on the Future of Retirement: A Balancing Act, released on March 18, many Malaysian women (69%) are unable to save enough for a comfortable retirement because of their more pressing financial obligations, such as mortgages and other debts....read more
Q? I am a 25-year-old male and a working professional for the past three years. I already have a whole life policy that my dad bought on my behalf when I was young. I have some extra disposable income right now and am wondering if I should increase my insurance coverage since I am young and premiums are cheaper. At the same time, I don’t want to burden myself with liabilities that might not be relevant to my age at this time. Should I do that, or should I wait to buy one that will match the milestones in my life when I am older?
> Eddie Wong, Petaling Jaya.... read more
In the hope of enhancing the life insurance and family takaful industry, Bank Negara Malaysia issued a concept paper last November, seeking feedback on three key areas - allowing industry players greater operational flexibility in promoting product innovation, diversifying distribution channels and strengthening market conduct for consumer protection......read more
Source: Personal Money October 2014
Many times, we are asked by prospects and other advisors, “Why do people have permanent life insurance policies?” That answer can vary, depending on the individual’s circumstances, the nature of the planning and the goals of all parties involved. There are many ways to use the powerful features of permanent life insurance, in the traditional planning sense, as well as some planning opportunities that were sometimes overlooked....read more
The Basic Choices for Investors and the One We Strongly Prefer - extract from Warren Buffett 2012 annual letter to Berkshire Hathaway shareholders
Investing is often described as the process of laying out money now in the expectation of receiving more money in the future. At Berkshire we take a more demanding approach, defining investing as the transfer to others of purchasing power now with the reasoned expectation of receiving more purchasing power – after taxes have been paid on nominal gains – in the future. More succinctly, investing is forgoing consumption now in order to have the ability to consume more at a later date.....read more
Source: Singular Asset Management
Building up a collection, whether this involves art, antiques, classic cars or fine wine, is something that may appeal to both enthusiasts looking to take their hobby to the next level; and to investors who wish to put their money into a tangible commodity that will retain, and may increase, its value.
The world’s leading private collector of Chinese textiles recently gave a presentation to high-net-worth individuals (HNWIs) in Hong Kong, outlining the potential benefits for collectors and investors of putting their collections into trust......... read more
Source: Equity Trust
Do you need critical illness insurance? Ask yourself the following question: If you were struck by a critical illness, would you have enough money to cover lost income and pay for medication not covered by a traditional health plan and other related rehabilitation costs?
Basically, critical illness insurance covers the financial gaps when you are diagnosed with a major illness such as cancer or when you need a heart transplant...... read more
Source: Personal Money, April 2005
Many organisations from the oil and gas industry, airlines, shipping companies and corporations with high value assets, both foreign and Malaysian-based, are reaping the benefits of structuring leasing arrangements via Labuan.
Labuan offers a number of operational benefits for setting up a lease structure, including its favourable tax regime and regulatory environment. ....more
Source: Equity Trust
Malaysia may turn out to be the biggest economic surprise in Asia. Malaysia is blessed. We sit on a great location in Asia; in a geographically peaceful, fertile land with abundant natural resources.
We are a multi-cutural, multi-lingual, and multi-talented nation. We have a well trained workforce and also modern infrastructure in place. We also know there is an urgent need to quickly improve existing infrastructure; such as with better mass rapid transit in Kuala Lumpur, faster Internet broadband across the country and an improving education system for the population among others.....more
Source: Singular Asset Management
Labuan’s highly responsive regulatory framework has seen the introdustion of new legislation to expand the Islamic financial sector within the Asia Pacific region..... more
When you tie the knot, here are some things you should relook..... more
Source: Personal Money, July 2007
"Don’t fool yourself into thinking that Malaysia is still a cheap place to live in, especially if you include future medical bills, your children’s education fund and your retirement fund that you have to fund all on your own."....more
Source: Personal Money, May 2009
The insurance agent always asks the family breadwinner the golden question: "What would your family do if something were to happen to you?"
That\’s often the number one reason for buying life insurance -- if anything were to happen to you, the money would go toward replacing the income that you would have generated towards putting food on the table for your family, among other things. It is clear-cut when you have the future of our family to think about.....more
Source: Personal Money, March 2003