In today’s fast-paced world, the concept of financial freedom holds more significance than ever before. Most people aims to attain financial freedom. In this article, let’s explore this concept and what we can do to achieve financial freedom. What is financial freedom? Financial freedom is not just about accumulating wealth. It is also not about …
In this article, the nomination I mean is the naming of beneficiary(ies) for three assets, namely your Employees Provident Fund (EPF), life insurance and personal accident insurance, and Private Retirement Scheme (PRS). This is part of your estate planning. The beneficiary(ies) of these assets are known as nominees. Why should you make the nomination? As …
Whether you are a young professional starting your career, a family saving for your children’s education, or a retiree enjoying your golden years, a well-crafted financial plan can make all the difference in achieving your goals and securing your financial future. Let’s delve into why having a financial plan is crucial for individuals and families …
There are two things in life that we cannot run away from. One is death and another is tax. Estate planning deals with the former and is about the distribution of your assets after your demise. Estate planning is a crucial aspect of financial management that often gets overlooked, yet it plays a significant role …
Life is full of risk and insurance is an instrument to transfer the risk to the insurer. Honestly, insurance is something that most purchasers wish they do not need to claim. Why do we need insurance? Insurance will compensate us for our loss if the insured event occurs. Without insurance, we have to bear the …
After working for many years, it is finally time to retire. But do you have enough assets? Can you afford to retire? No one plans to be poor in retirement, but many do end up in poverty or could not stop working. What went wrong? They fail to plan. Retirement need The data from Employees …
First of all, Happy Chinese New Year! May the year of dragon brings lots of joy and prosperity to all of us. The topic today is about finding a legitimate financial planner. Financial planning is a regulated activity. Only those registered with the relevant authorities are allowed to carry on the service of financial planning. …
Nowadays, most people are saddled with debts. If you are one of those people who do not have debt, congratulations and this article is not for you. But if you are like the majority, this article on debt management might give you some thoughts on how to reduce your debt. Types of debt There are …
In education planning, we are concerned with the education of our kids. We focus primarily on tertiary education as this part of education is usually the most costly. Furthermore, primary and secondary education are available for free or at a minimal cost in Malaysia. Nonetheless, if you choose to send your child to private schools …
In this article, we will discuss on financial goals. How should we set financial goals? Are they just numbers? Should we just put in whatever numbers that we like? Financial goals As the name suggests, financial goals have to do with your finances, meaning dealing with money. There are specific formulae to calculate the numbers …
