Thursday, December 13, 2012

Important Rules for Financing


  • Rule #1: Get the money for as long as possible.  
  • You know you are going to need more money to purchase future properties so why would you want to be required to pay this money back any sooner than absolutely necessary? 
  •  That would just require you to get even more money later.  That may be difficult or impossible to do, and of course borrowing new money always has a cost. 
  • As such you should prefer terms on your loans that are as long as possible.  If you need access to more money in the future, the last thing you want to do is take out a 15 year mortgage on a property you are buying today. 
  • This will require larger payments resulting in significantly reduced cash flow.  If your business is generating less cash that will extend the amount of time it takes to generate enough cash to purchase your next property.  This is why I always prefer 30 year mortgages even if the interest rate is slightly higher.

  • Rule #2:  Get as much money as you can get.  
  • Maybe you have enough cash to put 50% down on a property.  Maybe you just feel more comfortable only being leveraged 60% instead of 75%. 
  • There can be any number of reasons why you might choose to borrow less than the maximum.  Don’t do it.  
  • If you are borrowing on a given property, borrow the maximum you can get on it.  If you are more comfortable with lower leverage then buy every third or fourth property with cash, but do not take out 50% or 60% loans on a property.  
  • Always take the maximum they will give you.  It is always more difficult and more expensive to get more money out of a property once you have a mortgage on it.  
  • If you purchase a property with all cash you can go back and borrow against it later.  When you do, you should once again borrow the maximum amount that they will give you.  You can manage your own leverage ratios across all your properties to ensure you do not over leverage yourself but do not put smaller leverage ratios on each property

Thursday, November 1, 2012

Tax Issue for Keyman Insurance



Key-man” insurance
1  Generally, a premium paid on an insurance, which is intended wholly and exclusively to recover moneys that would replace a loss of profits on the happening of the event insured against, would be allowable as a deduction against the gross income of a business. 
2  Death, critical illness, sickness, accident or injury of an employee or a director may result in a loss of business income for the employer or company.
Insurance may be taken on the life of an employee or a director who is a “key” person to cover the risk of loss of business income. This type of insurance is known as “key-man” or “key-person” insurance. 
3  The  right to the insurance proceeds of a “key-man” insurance must remain with the employer or company and the proceeds must not be payable to the “key-person” or his family. 


Can save tax - Deductible

The premium on the policy is allowable if the insurance has no element of investment and the insurance is taken on the life of a “key-person” whose absence would result in a reduction in  the  profits of the employer or the company.  



Insurance Proceeds - Taxability
The proceeds receivable on a term life policy or an accident policy is taxable on the employer or the company as the sum is receivable in respect of an insurance premium that  has been allowed previously. On  the other hand, the proceeds receivable in connection with a whole life or an endowment policy is not taxable as the insurance premium has not been allowed. 


Source: 
Public Ruling No:  2/2003 
Issue Date:  30 December 2003 


Tuesday, October 30, 2012

解读中产家庭 保险规划5大误区


读中产家庭 险规划5误区
2010/02/22 2:53:15 PM

虽然按照合理的保险规划,可以把人生分为单身、家庭初创、家庭稳健等时期。但很多家庭对保险观念并不成熟,又一下从基础性保障买到最高层次的投资型保障,在认知上产生了很多误区。

险产品有其特殊性,并不是某一项买得高买得早就能起到作用。只有避开这些误区补足缺口,才是健康保障

误区一:重投资轻保障

虽然很多人有购买保险的意识,但是对于购买什么产品却意识混沌。很多人会主动找代理人谈保险,但是最后还是将重点落在收益上。本质上他们看重的还是投资,而并非保障。这对于进入35岁,甚至是40岁之后的人来说,实在不可取。保险专家把投资类产品和保险类产品分别比喻为锦上添花雪中送炭资是在个人有能力的时候,钱生钱;保险是在人无法应付的时候,钱生钱。

误区二:自我掌控买保险

么时候买保险,究竟应该谁说了算?也许很多已经财务自由的中产家庭会选择自己决定购买产品时间,但这种自由往往会给家庭带来不必要风险。

有人觉得过早规划养老是杞人忧天,但其实在经济允许的情况下,提前考虑不仅产品费率低,而且有更多的选择。另一个显的例子就是健康险,如果家庭不能在该阶段中全面规划健康险产品,那么到了50岁之后,即使保险公司同意承保,也会出现高额的加费情况,甚至发生保费和保额的倒挂。

误区三:三代同堂保险分配不合理

对于家庭中谁保险更多,这是一个重要问题。

一般而言,男性是家庭中经济收入的主要来源,很多男性热衷于为妻子、孩子、老人购买保险,却单单忘记自己。

这种方法看似为家人考虑,实际上不仅忽视了自身价值,也没有意识到自己的风险将对家人造成巨大损失。如果夫妻双方的收入比例是21,那么家庭总支出的比例也与此相近。一旦男性去世,那么损失的将是三分之二的收入能力,所以一个家庭的保障规划应与收入成正比。

误区四:给财产投保不给自己投保

这是在亚洲社会一个特别普遍的问题,很多事业有成者对大宗财产投保意识浓厚,会主动为车、房产购买保险,但往往个人连最基本的意外险都没有。

户往往会觉得财产损失看得着、摸得到,往往过度重视财产本身,而忽略创造财产的个人。

误区五:保单只看有无不看覆盖面

当家庭处于稳定期时,更关键的问题在于保障的全面性。

即使过去没有买过任何保险,也应该在这个阶段中尽量全面覆盖;如果过去已经有了一些保险,那么可以在险种上拾遗补缺,或是在原有程度上加保。

对于一些家庭收入不高,过去又没有保险的家庭而言,首先应该做到意外、寿险、养老、重疾的全面覆盖。宁愿降低保额,也不能有遗漏

90%人公积金少于15万 公众须早作退休规划


大马财务规划公会(FPAM)劝请公众尽早做好退休规划,并寻求公积金储蓄以外的投资或其他储蓄方法,以增加退休资金,快乐养老。

该会主席黄文财说,根据公积金局的报告显示我国有逾580万名活跃会员每月缴付公积金,而高达90%的会员储蓄则少于15万令吉。

他说,在这些会员当中年龄已届54岁的有5万8000人,而他们还有一年将退休,但户头里却只有14万令吉以下,这笔退休金根本不足以应对未来的退休生活。

公积金仅足够4年

退休规划是愈早做愈好,不能迟,每个月除了缴付公积金外,至少要准备10%的收入做投资或其他储蓄。

“其实公积金一般只够用于3至4年,所以要确保退休资金足够应付日常生活,就必须做好退休规划。”

黄文财今日出席该会主办的“每个人都可有很好的退休生活”研讨会开幕典礼后,在记者会时,这么说。

在场者包括大马财务规划公会前任主席张润兴、副主席陈炳华和总执行长曾昭汉等。

较早前,他在致词时指出,如果要做一个有效的退休规划,就必须考虑多个因素,包括税务课题、保险保障、投资、保健需求和想要过的生活方式。

“退休规划不只是一组数字运作,这关乎你在紧要关头前所做出的重大决定,所以重点是你希望在剩余的生命过怎么样的生活。”


Source: 2010/10/13 6:11:42 PM  南洋商报

财女风情~人还在, 钱没了





养不起的未来


你是否:
职场奋斗数年下来,尽管目前的薪水不错,但换算成时薪则其实少的悲哀?
赚的薪水虽然勉强能应付日常生活,但只要一背负房贷或车贷,经济压力就沉重得喘不过气来?
时时担心目前的工作不保;或是公司无预警忽然倒闭,而生活准备金不足以应付这类临时状况?

如果你身边也有存不了钱的朋友, 告诉他北原武的故事,你就有可能成为他这辈子的贵人!

日本的讽刺明星兼导演北原武不久前又获得一个电影的国际奖。几年前他的母亲去世,他回故乡去奔丧,他一直不喜欢母亲, 因为她一直不断向这一个儿子要钱,只要他一个月没有寄钱回家, 母亲就打电话给他破口大骂,真是所谓的死要钱,而且北原武越出名,她索取的钱越多。回到家之后,他还是忍不住大哭一场, 想到他一直在外,没有好好供养妈妈, 虽然是死要钱的妈妈,他还是觉得亏待母亲。等办完丧事,北原武正要离开家的时候, 他的大哥把一个小包袱给了他说: 这是妈妈叫我一定要交给你的。

北原武小心翼翼地打开小包袱看到一本存摺与一封信, 存款是用他的名义开户,存款金额高达数千万日币,信中母亲写道:

武儿,在这几个儿女当中,我最担忧的就是你, 你从小就不喜欢念书,又乱花钱,对朋友太慷慨, 当你说要去东京打时,我就很担心你会变成一个落魄的穷光蛋, 因此我每月从不间断地要你寄钱回家, 一方面可以刺激你去赚更多的钱,
另一方面也为了替你储蓄;你给我的钱, 我一毛都没有花,你大哥一家把我养得好好的, 你的钱就是你的钱,现在就拿去好好利用吧!

看完了信,北原武哭倒在地上,久久站不起来...

现在的经济景气越来越差,全世界都进入了二低一高的时代,低成长、低利率、高通膨;不要小看你随手花掉的小钱:
不管是咖啡、香烟、一件衣服,或任何其他不必要的奢侈,一天几十块钱确实可以累积成一笔财富, 省下它,就有可能改变你的一生。


你赚的一块钱不是你的,你存的一块钱才是。
──经营之神王永庆

Source: http://money2u365.blogspot.com/2009/11/blog-post_19.html

退得太早、活得太老、花得太快、存得太少

理财专栏:财务健康报告书
2010/12/27 2:56:47 PM
●罗凤琴 金融系硕士/合格财务规划师/认证财务规划师

时间飞逝,转眼恍然惊觉十二月份又将过去。展望新年之际,许多人都会在每年此时去做身体健康检查,却很少人会去做财务健康检查(简称财务体检)。

人们对健康已经非常的明白,身体健康,就是不出毛病。

财务体检就是看看自己的财务健康状态如何。

许多人常常投资,也知道要理财,但却不知道真正重要的是“健康的财务”,误以为有存款,有买卖股票、基金,就是拥有了健康的财务。

须知,“有运用理财工具”并不等于拥有“健康的财务”;相反的,投资工具运用不得当,反而可能造成财务危机。

吃,每个人都会,但健康饮食并不是每个人都会。我们吃的,要讲究营养组合,食物搭配,不然你健康的天平就会倾斜。

其实财务也一样,花钱、存钱大家都会,但健康财务就不一样,讲究花钱花得合理,存钱存得合理,投资也投资得合理。

不然你失去的不仅仅是金钱,你财富的大厦将轰然倒塌,甚至失去的是家庭幸福和人生尊严

财务体检5大原则

要做财务健康检查不用去诊所或医院,只要花上几分钟就可以自我检查,方法很简单,建议可以从5大基本原则检验。

1.未雨绸缪

一般来说,除非你很容易一下子拿到一笔相当数目的现金,否则,当某种突然事发生的时候你将是不堪一击的。

从个人或家庭理财角度,一般都建议最好要先准备三到六个月的生活紧急储备金,以供不测之需,但由于全球通货膨胀压力高涨,这次建议把储蓄紧急备用金额拉高到六个月到一年,让个人或家庭有六个月至一年的缓冲期以度过突过发事件导至的危机,是比较稳当及安全的做作法。

2.计划性消费不透支

量人为出、不透支,是平常就要建立的消费习惯。

生活中就有很多这样的例子,尽管不是过度消费,只要是没有合理的安排,也将会成为负债的人,于是常常都会有人天天喊着钱不够用。

常言说的好:“吃不穷,穿不穷,不会打算要受穷。”

说的就是这个意思。

3.房贷负担应适度

房贷负担不超过家庭所得三分之一。

负债比重不要太高,才能弹性应付利率波动的风险。

如果负债比例过高,每月需要付出的利息费就会上升;该比例也非越小越好,最好是适度地应用。

4.买足够的保险

保险的作用在于为家庭构筑风险保障网,对于工薪族家庭来说,保险更为必要。

家有年幼者,或是增加负债时(如买房子或换房子),最好能准备家人十年的生活费加上负债金额,做为规划保险保障最基本的保障金额(以低成本来降低家庭风险)。

具体到险种来说,意外保险、医疗保险是每个家庭不可或缺的险种。

5.

储蓄的目的就是要积攒”种子钱”,所以定期存钱比投资更重要,无论是靠工作赚钱还是靠"钱生钱",持续储蓄的习惯绝不能废弃,而储蓄金额一定要随着收入的增加等比例提高。

做好了自己的《财务健康报告书》,看看你的财务可否有病了。

体质好的财务,新的一年才不会过得提心吊胆。

财务健康须有三低

为你的财务做个健康检查,只要问自己可有做到“三低”:

我的财务风险低不低?

财 务风险是要确保自己的赚钱能力。如果你除了打工以外没有任何收入来源,你将面临灾难。过去大多数人常过度乐观收入的稳定性,以为现有的工作可以做到老,却 完全没有想过如果有一天被裁员了怎么办?所以当你在帮老板赚钱的当儿,应该想想是否也能让有限的收入,创造无穷的希望?

我的投资风险低不低?

想降低投资的市场风险,最好方法就是资产配置。所谓的资产配置,简单来说就是将资产分别投资到不同的资产类别中,透过资产组合分散风险,并经由长期持有与持续投资来累积报酬,以达到预期回酬率的一种投资组合策略。

我的老年风险低不低?

面 对现代人退得太早、活得太老、花得太快、存得太少的趋势,老年风险已是每个人的潜在风险,即使目前还感受不到。退休规划是理财计划中最重要的一环,不管你 现在几岁,如果你还没开始做退休规划,现在就要快快列入新年度的计划中了,让筹备退休金不再成为人生道路中,不可承受的沉重压力。


Source: http://www.nanyang.com.my/sidelines/sidelines_articleDetail.asp?type=D&ID=211255&sID=9&cID=33

Wednesday, October 24, 2012

Mortgage Application - Why Self-Employed Have Problem?


We believe most banks like Employee as their income is constant and predictable as compared to Self-Employed.

Example of guideline from a bank:


If you are self-employed (commission/sales-based earners), your documentation must be strong to avoid rejection by bank.

成立信託保障傳承 受益人生活無憂


49歲的老陳和31歲的陳太太育有2名可愛的小孩。老陳是一名商人,養活一家大小不是問題。
 他太太雖然是位賢妻良母,卻是個在金錢上不懂得自制的人。由于太太不懂理財之道,家里的財政一向來都是由老陳一個人管理。
 他擔心萬一他逝世后,他年輕的太太會將他辛辛苦苦賺取的血汗錢花盡,剝奪了孩子們獲得良好教育的機會。
 為了以上的問題,老陳向一名資產規劃員尋求解決方案,該專員給了老陳兩個建議。 
第1,立寫一份遺囑,將他的產業置放于遺囑信託內,並在遺囑里指示所委任的信託公司如何每月分配金額給他的太太作為她的生活費。
 有了以上方案,老陳可以確保他的太太不會揮霍用盡其遺產,同時也可確保她能夠繼續過著舒適的生活。
 由于遺囑信託無法讓陳太太隨心所欲的花費,這也間接控制了她的購買慾。
 至于他的孩子們,老陳指示信託公司將孩子們的遺贈置放于信託內,並且每月付一筆生活費給他們。為了避免孩子們有機會將這筆錢使用在其他用途上,老陳還指示信託公司將錢直接交付于有關教育機構。
 第2,老陳可使用他的某些產業來成立信託宣告書。他可以委任自己為這些產業的首要信託人,信託公司則被委任為候選信託人。
 當老陳逝世后,有關信託公司將會接任信託人的職務以及根據信託文件里的條款,為陳太太和兩名小孩暫時掌管有關產業。老陳必須簽署一份信託文件和一份不可廢除的授權書給信託公司。
 在這樣的安排下,老陳將可以讓他的家人繼續享有舒適的生活,同時避免他的產業被揮霍。
 以上兩種建議可以保障傳承下一代的產業不會被揮霍無度的受益人敗壞。在成立信託或信託宣告書后,您也可指示信託公司,讓受益人在不同情況下得到他們的遺贈。包括信託產業分配的數額、方式及條件,又或者可以要求您的受益人必須達到一定的條件方可獲得信託產業。
 相較于委任個人信託人,委任信託公司更能確保信託的公平性。而且,信託公司會一直持續存在,反而個人信託人可能會面臨死亡、生病、意外並失去能力、精神出現問題或破產。當一名個人信託人逝世后,他的產業將被凍結直至有關法定遺產管理程序終結為止,這也表示他名下的信託產業也將被凍結。
 因此,善用信託公司一來可以讓托管人高枕無憂,二來可確保他的資產在專業人士的托管和法定機構的管制下讓他的受益人生活無憂。

父母離開后, 孩子命運交由法庭來決定?


達人開講‧講重點:根據現有法令,如果父母沒有為年幼孩子委任監護人,父母離開后孩子命運交由法庭來決定。
身為父母的我們常常會擔心如果我們不在世了,孩子們的未來會怎樣?若想表示對孩子們的愛意,想永遠呵護他們,什么會是最好的禮物呢?
 無論資產多或少,我們都應該為孩子著想,做完整資產規劃。我們為了保障孩子未來辛苦賺取更多收入,但這是否足以保障孩子們的未來?
 我們也許以為已為孩子留下足夠積儲,但如果一天我們不在世了,他們懂得善用這筆資產嗎?年輕的他們有足夠能力管理這么可觀的現金嗎?儲蓄會適當地被用于繳付孩子教育費、生活費和醫藥費嗎?
 當孩子繼承一大筆錢財時,是否確定他們懂得善用並妥善處理有關錢財?他們會否變成揮霍一族,並把錢用于購買昂貴的奢侈品或甚至把錢賭完?
 如果這樣的情形發生了,在他們二十五歲之際,也許所有的錢都已被花光。那以后生活該如何打算呢?
 根據現有法令,如果父母沒有為年幼孩子委任監護人,父母離開后孩子命運交由法庭來決定。
 法庭委任的監護人未必是合適的人選。萬一被委任的監護人完全不瞭解孩子,那將得不到良好的照顧,甚至可能因監護人的失誤錯過適當教育機會。
 如果父母留下了一門生意,是否確定孩子會攜手繼續經營?又或者生意會否因為孩子們無法互相妥協而沒有繼續了?
擬定財產分配數額
 要避免以上種種狀況,只需立寫一份遺囑並在遺囑內設立個遺囑信託,再讓信託公司做管理。
 父母可以在遺囑信託內寫下指示,讓信託公司按照意願利用信託裡的資金提供孩子生活費、醫藥費及教育費。有了遺囑信託,可以確保錢財妥善用于孩子身上。
 此外,父母可以通過遺囑信託控制孩子消費習慣,因為在信託期間,他們並不能從信託取出全部的錢財,並可指示信託人管理孩子們所繼承財產及每個月生活費支出。
 信託人也將會在孩子不必經手情況下,直接把孩子教育費繳付至相關學府,這可以避免孩子有借口把學費用于其它不適當目的。
 如果孩子還年幼,父母需在遺囑內委任一位監護人。監護人將負責照顧他們直到他們21歲。值得一提的是,父母雙方最好是委任相同監護人。
 藉著信託,除了吩咐信託人依照意願處理財產,還可以擬定財產分配數額,也可以附上適當條件以確保受益人在符合條件后,才繼承信託財產。
 反之,如果信託人是某位親人或朋友,將無法確定他是否會依據指示管理信託。如果委任信託公司當信託人,也不必面對信託人突然逝世、病重、發生意外、破產等等事件而無法繼續處理信託的問題。
 總結來說,有了遺囑及遺囑信託的詳細規劃,加上委任了信託公司這個可靠的信託人,將可以對資產分配及孩子未來更放心。
陳美茵
樂委高級經理法律培訓師

meiyin@rockwills.com
www.rockwills.com

GENNEVA 金玉華負債數十億!

(吉隆坡23日訊)財政部副部長拿督阿旺阿迪說,國行是在深入調查時,才發現金玉華(Genneva)黃金貿易私人有限公司的資產和負債不成正比,即負債數十億令吉,但僅有數千萬令吉資產;並促請投資者勿指望國行做出賠償。


 “金玉華根本就是以快速致富方式運作,國行發現此公司在初期原是黃金買賣交易,但後來交易形式模糊,投資者給了錢,但黃金卻遲遲未到手,最後形成‘存款’(Deposit Taking)。”
 他說,金玉華也透過高回酬訂金模式運作,包括每月以2%回酬,明顯乖離單純的買賣黃金交易。
(詩巫17日訊)老翁將逾4萬令吉棺材本用作投資黃金,因沒獲金幣及利息,向警方報案。
 詩巫警方證實昨日接獲74歲的黃姓男子報案。
 這也是自國行月前聯同其他單位,雷厲取締金玉華(Genneva)黃金貿易私人有限公司和另3間黃金投資公司后,詩巫接獲的首宗投報。
 據知,黃老伯是于今年5月17日通過一邱姓代理買黃金,投資了3萬8000令吉,獲得兩個各重200克的金幣,每月可獲2%利息。
 他手持為期3個月投資合約在8月屆滿后,他把金幣交回給該公司,再增投資逾2000令吉,再度投資黃金交易,要做6個月合約。但沒獲黃金及任何利息,直至投資的公司日前宣佈暫時停止交易,只好報案求助。

吉隆坡10日訊)總檢察署、警方和國家銀行在展開監視行動及檢查后發現,一些非法黃金投資公司無法兌現承諾,提供高回酬給投資者,當局為了保障廣大民眾的利益,采取行動對付有關公司。
 上述3個單位聯合發表文告說,這些投資公司采用的投資計劃,發現無法如該公司所承諾般,持續向投資者提供高回酬,或向投資者買回金塊。
免投資者蒙損
 文告指出,有關公司無法持續提供高回酬,是因為有關回酬並非從投資中獲利后抽出,而是直接從投資者的投資額中抽取。
 總檢察署、警方和國家銀行也在調查后發現,有關公司資產和現金,和投資者的投資額並不相稱。

未立遺囑 資產會自動留給摯愛?



莎士比亞有句話說,謠言正像回聲會把一句話化成兩句話
 很多人一直以為如果他們在沒有遺囑的情況下逝世, 他們所有的遺產將會自動地轉移至他們的摯愛。
 遺產並非自動轉移,而是有程序和非您所願的轉移。
 根據馬來西亞1958年設立的遺產分配法令(修正1997年),指定如果一個已婚的人在無撰寫遺囑的情況下逝世,她/他的遺產將會依照以下比率的分配:
 ◆父母親(25%)
 ◆配偶(25%)
 ◆孩子(50%)
 倘若死者的雙親接著逝世,那部分將會由死者的兄弟姐妹取得。根據法律,所有的同居者,非親生的孩子或其他親戚,不管他們與死者多親密,都是不被承認的。
 根據我的經驗,撰寫遺囑者經常提出的疑問如下:
 ☆案列一
 我與別人共同擁有一間屋子,我是否能夠把我的房子部分擁有權在撰寫遺囑時分配給我的受益人?
 ■可以的,您能夠在撰寫遺囑時將您的屋子的擁有權遺贈給您所指定的受益人。
☆案列二
 我正開始繼承我父親的某些資產,但是目前我還未正式擁有它們,我是否能夠在遺囑中列明此資產?
 ■可以,遺囑的特點之一是只要立遺囑者逝世時擁有這些資產,雖然撰寫遺囑時還未擁有它們留給您在遺囑裡列明的受益人,依然可以繼承它們。
 ☆案列三
 如果我與我的妻子離婚了,我的遺囑是不是被廢除了?
 ■離婚與結婚是不一樣的,離婚是不會廢除您太太或前妻在遺囑裡的受益權。若您已辦妥離婚手續,那是時候考慮更新撰寫您的遺囑了。
 ☆案列四
 我是個孤兒,在我還很小的時候,我母親把我交給保姆后就不再回來,是我保姆把我撫養成長。目前,我年老的保姆只靠我維持生活。我擔心倘若我發生什么事,我的保姆將會失去唯一的生活支柱,我應該怎樣做以確保她將繼承我的遺產呢?
 ■由于你的保姆沒有合法地收養您為義子,她是無法在您毫無適當地安排下繼承您的遺產的。您需要撰寫一份遺囑以把您的資產留給她。很多人以為沒有遺囑,去世后所有遺產都會自動轉移給他的至親。
 這是一個誤解。如果您還未結婚,又無親人,您的資產很大可能會歸于政府。
 在下一篇文章,我們將會刊登更多有關遺囑與信託的疑問與答案以讓您對遺囑,信託和資產規劃有更進一步的瞭解。
 切記,資產是不會自動轉移給摯愛的人,如果不要多年累積的資產最后落給無關人士的手中,那就應馬上行動立遺囑。

遺囑DIY,可以嗎?

別為了節省遺囑的繕寫費用而忽略法律效用的重要性。
否則,家人在未繼承資產前就已經面對重重的困難。


人生理財片尾曲 財產分配不馬虎
林博士是本地著名大學的教授,除了熱心教學外,也喜歡利用空閒時間做他有興趣的事。
 最近他決定為自己撰寫一份遺囑。為了節省遺囑的繕寫費,他花了一些時間上網研究及閱讀如何自己撰寫遺囑的書籍。
 當他已經收集到充足的資料時,便信心十足開始撰寫遺囑。
 他擁有兩間雙層排屋,其中一間是屬于他與太太聯名購買的房子。在遺囑裡,他沒有註明屋子要如何分配,因為根據網上所取得資料,若任何一方去世,生存者將自動獲得此資產。
 至于第二間由他自己名下購買的房子,他將這間房子平均遺贈給他的配偶及三位年幼的孩子。
 原本他對自己撰寫的遺囑感到十分滿意,直到他出席一項資產規劃講座會時,他才發現原來所瞭解的聯名資產分配觀念,是不受馬來西亞法律承認的。
見證者不可是受益人
 他感到十分驚訝,開始對他之前所撰寫的遺囑產生質疑。慶幸的是他還健在,否則后果將不堪設想。
 人生說長不長,說短不短。想一想,萬一我們不在了,家人是否依然無恙?或許我們已經知道遺囑很重要,又或許已花了一些時間上網研究,及閱讀有關如何自己撰寫遺囑的書籍。
 如果已經為自己撰寫了遺囑, 請再三確認是否有委任一位值得信任的執行人、是否有委任一位有愛心的監護人;及是否有寫明如何分配聯名資產,及成立遺囑信託給他的孩子們等等。
 根據法律規定,當簽署遺囑時,必須在兩位見證人的陪同下一起簽署。見證不可以是遺囑受益人,不可以是受益人的配偶。
 最好選擇與遺囑利益分配無關的人士為見證人。
 簡單來說,自己撰寫的遺囑和專業人士繕寫遺囑,是存在著極大的分別。前者也許會忽略法律條件;相反的,專業繕寫遺囑人士卻能提供一份有法律效用的遺囑,也能確保撰寫遺囑者的意願能夠完全地得以實現。
 別為了節省遺囑的繕寫費用而忽略法律效用的重要性。否則,家人將在還未繼承資產前就已經面對重重的困難。
 一份受法律承認的遺囑將確保您能達到完善的遺產規劃,讓您高枕無憂,避免日后所帶來的不便或法律糾紛

What We Can Learn From Celebrity Estate Planning Gone Wrong


(Source: http://www.forbes.com/sites/financialfinesse/2012/10/17/what-we-can-learn-from-celebrity-estate-planning-gone-wrong/)



Erik Carter, Contributor
Have you seen the new “all-star” celebrity line up of Donald Trump’s Celebrity Apprentice? Admit it. Like
many Americans, you may feel a guilty pleasure watching celebrities make silly mistakes on national
television. While it’s mostly entertainment, there is one area where learning about their mistakes can
actually help you and your family: celebrity estate planning gone wrong. In fact, there’s even a television
show called The Will: Family Secrets Revealed all about this very topic. Here are some of the top celebrity
estate planning mistakes and what we can learn from them:

Sonny Bono
A former musician and politician, Sonny Bono was a busy man—apparently too busy to write a will before
his untimely death in a skiing accident at age 62. However, he wasn’t too busy to secretly father a child out
of wedlock that surfaced to claim part of his estate along with ex-wife Cher.
Lesson: We have no idea how much longer we have to live, so don’t procrastinate. Write a will, especially if you have a complex family situation.

Jimi Hendrix
The guitar legend passed away at age 27 without a will. Although he was very close to his brother, state
law awarded everything to his father, who later left everything to an adopted daughter from a later
marriage, leaving the brother with absolutely nothing.
Lesson: It’s never too early to plan your estate even if you’re young and single. Check out to see what would happen if you die without a will. If you don’t like the results, be sure to get one done.

Stieg Larsson
This Swedish writer of  The Girl With the Dragon Tattoo may have written about women as victims, but
unfortunately he left his own girlfriend of 32 years a victim when he passed away without a will, leaving his
entire estate to be divided between his father and brother according to Swedish law.
Lesson: Estate planning is even more important when you’re in a non-married relationship since your 
partner won’t necessarily have the same privileges and protections as a spouse.


Marlon Brando
A promise and a handshake may be good enough for the Godfather, but not for the legal world. A woman
named Angela Borlaza claimed that the actor promised her the house she lived in while keeping it in his
name for tax purposes, and promised her continued employment in a company he owned. She settled with
executors over both claims.
Lesson: Put your desires in legal writing.

Princess Diana
Princess Di wrote a “letter of wishes” to her executors to leave some personal possessions worth about
100,000 pounds to each of her sons and godchildren. Unfortunately for them, the godchildren received
only trinkets.
Lesson: Make sure your wishes are in a properly drafted will and/or trust if you want them to be carried out.

Warren Burger
You’d think a former Supreme Court Justice would get this right. He tried to write his own will in 176 words
but his family may have paid the price for his brevity with over $450k in estate taxes and court fees that
could have been avoided.
Lesson: Don’t try to write your own will or have your cousin who’s a criminal defense attorney write one for you. Instead, find a qualified estate planning attorney by asking other professionals for referrals, checking with your local bar association’s lawyer referral service, or searching networks like the American Academy of Estate Planning Attorneys or the National Network of Estate Planning Attorney. Even if you use software to create your documents, at least have an estate planning attorney review them to check for any problems that may not be obvious.


Florence “FloJo” Griffith Joyner
This Olympic sprinter wrote a will but never told anyone where it was so her husband was unable to file it
within 30 days after her death as required by state law. As a result, both her husband and mother went to
court over disputes, and administration of the estate was eventually turned over to a third party.
Lesson: Keep copies of your will someplace secure like a safe deposit box or your attorney’s office and be
sure to let your family members know where it is and how to access it.

Heath Ledger
The actor drafted a will leaving everything to his parents and sister but didn’t update it with the birth of his
daughter, resulting in family fights in the media.
Lesson: Be sure to regularly update your will following life events like a birth, adoption, marriage, divorce, or death in the family.

Michael Jackson
Jackson’s doctor wasn’t the only subject of controversy and trial after the pop star’s death. While he
created a trust, he may have neglected to fully fund it, leading to a public fight in probate court between
members of his famous family.
Lesson: If you spend the time and money to create a trust, work with your attorney to be sure you actually place your assets in the trust.



Doris Duke
The tobacco heiress died with a fortune estimated to be worth $1.3 billion and left a sizable sum to a
charitable foundation naming her butler as executor of the estate and trustee of the foundation. The
butler’s spending was so questionable that he was removed by a probate judge only to be reinstated by a
higher court. Finally, a settlement led to a board of trustees managing the foundation.
Lesson: Be careful of who you pick as executor, trustee, or guardian. Even your closest friend or family member may not be the most competent administrator. For a large trust, you may want a corporate trustee to at least handle the financial and administrative tasks.

Leona Helmsley
The hotel tycoon cut two of her grandkids out of her $5 billion estate and left $12 million for her dog,
Trouble. The stiffed grandkids made their own trouble and sued, claiming that she wasn’t mentally fit to
create her will and trust. The case settled, leaving poor Trouble with “only” $2 million.
Lesson: If you’re planning to do anything unusual, especially if it involves anything that would leave 
unhappy family members, have a lawyer conduct a mini evaluation attesting to your mental competence.

Etta James
Estate planning isn’t just about death. The blues singer had a similar family fight between her spouse and
son over her mental competency to sign a power of attorney.
Lesson: Sign a power of attorney long before you need it.

As you can see, there have been high profile mistakes all along the estate planning process, and I’m sure
there have been plenty of low profile ones made too. After all, these mistakes have consequences that are
a bit bigger than hearing The Donald say “You’re Fired!”

Erik Carter, JD, CFP® is a resident financial planner at Financial Finesse, the leading provider of unbiased
financial education for employers nationwide, delivered by on-staff CERTIFIED FINANCIAL PLANNER™  professionals. For additional financial tips and insights, follow Financial Finesse on Twitter and become a  fan on Facebook.




Michael Jackson & Health Ledger have in common....


Question:            What did Heath Ledger and Michael Jackson have in common?
Answer:               Both are Superstars! But, they made similar mistakes when it comes to Estate Planning.

Heath Ledger made the mistake by not updating his will when his daughter was born. MJ created a trust but somehow forgot to fund it.

In both cases, the family paid the price.

Estate planning seriously requires a lot of attention and detailed information. Always remind your clients to review their status annually and pay attention to significant changes in life.

A small mistake will make one regret forever.

Plan Well! Beware of especially the FREE service. No profit, how can you expect the party to deliver you satisfactory and reliable service?

吃亏真的不好吗?


吃亏真的不好吗?
 
那天碰到一位朋友,他说我以前借给他的一本书,对他影响很大。
 
那是一本很旧很旧的书了,毫不起眼,也不出名。
 
心胸宽厚
 
我很喜欢这本书,因为它也影响了我的思想,“吃亏就是占便宜”的思想。
 
这本书是作者的自述,作者本身是个送货员出身,后来他在一个菜市场摆摊位,他能够发达就是从菜市场开始。
 
作者自述摆摊位时的生活,吸引我注意的是一小段的故事。
 
作者说他每天清洗摊位时,就顺便把周围的环境也一起清洗,包括左邻右舍的摊位。他就当作是一种运动,让自己流汗,久而久之,每个人都跟他很好。
 
他不跟人家计较,主动帮人家清洗地方,人缘自然就好了,就是因为他的人缘好,后来当局要把菜市场私营化,很多人都竞相投标,但是,原有的贩商却连成一气,大家都建议由他承包下来。结果就开始了他承包菜市场的生意,后来他就是靠这行业来致富。
 
我喜欢这本书就是因为那一小段的故事:
 
“每天清洗摊位时,就顺便把周围的环境也一起清洗,就当作是一种运动。”
 
讲得多么的轻松,帮人清洗地方也是一种运动?有几个人能够有这样的胸怀?
 
每个人都会这样想: 你的地方,你弄肮脏,当然是你自己洗了! 要我洗?就别做梦了!
 
害怕吃亏
 
所以这个社会就变成了斤斤计较的社会,什么是你的,什么是我的,什么是该你做的,什么是该我做的,每样东西,每样事情,都分得清清楚楚。
 
每个人都害怕吃亏,因为吃亏就是被人家占便宜。
 
事实是否真的是这样呢?
 
其实不然,有时候能够吃亏的人,反而得到了便宜。
 
人的一生免不了会有贵人相助,尤其是想成功的人士,更希望遇到贵人相助。能够吃亏又不懂得斤斤计较的人,遇到贵人的机遇会比较高,理由简单,因为他们的人缘比较好,所以也比较容易取得贵人的相助。
 
就来一个试验,扪心自问,如果给你选择,以下这两个人,你会选那一位做朋友?
 
甲:不能吃亏,又斤斤计较的人。
 
乙:能够吃亏,又不会计较的人。
 
易交朋友
 
很多人都选择乙,可见,乙的吃亏性格使他占尽了便宜,这就是所谓的,吃亏就是占便宜。就是这个理由,能够吃亏的性格,比较容易结交到朋友,这就是世人所谓的人缘好。
 
记住,如果要给自己的人缘加分,就要懂得这个道理:吃亏就是占便宜!



个人贷款趋势已达担忧地步


我国家庭债务对国内生产总值比例,从2004年的66.7%飙升至2009年的76%,非常接近美国在2008年全球金融危机时期的水平。基于工资增长幅度没有跟上通货膨胀的步伐,我国人民面对财务负担不断加重的窘境,很多人被迫转向使用个人贷款和信用卡,来解决生活开销。
这些个人贷款的广告不仅出现在报章上,同时也可以在街上的电灯柱、空置的店屋、巴士站、德士车身等轻易找到。

国家银行在今年3月份的数据显示,个人贷款占家庭总债务的比重,已经上扬至15%的水平。
国家银行旗下的信贷咨询与债务管理机构(AKPK)资料显示,自2006年以来,将近14万7000人因为面对无法解决债务的问题,而参加该机构提供的债务咨询与重组计划。其中,有76.6%来自已婚人士,有43.6%年龄介于30岁至40岁之间。



Below from Yesterday paper.... Borrow Personal Loan for Marriage and good wedding?





Tuesday, October 23, 2012

退休计划 - 需要吗?

需要理财吗?

需要存储为退休时用吗?

需要存多少?

存在那里?

要几时开始存?

******************

当你有以上的问题时, 恭喜!
当你问了之后, 有行动, 恭喜恭喜!

钱赚了,存不到老时用, 就不是真的赚到.
我们都要有个有尊严的晚年, 没钱会有尊严吗?

吃饭要钱. 红白事要钱. 钱哪里来?
现在就为您的未来存笔"认真金钱" 吧!

老本是"认真金钱", 不能只靠投资, 因为投资有风险.


理财智慧 ~ 学历和财富


学历和财富有没有关系?
 
如果单单是比薪酬,学历越高优势越大,这是公认的事实。但是,薪酬的多寡和财富没有很大的关系,因为很多有钱人都不是靠薪酬来致富。
 
学历高的人有的是学问,财富多的人有的是经验。
 
学问是知识,经验是智慧,所以,学历高的人有的是知识,财富多的人有的是智慧。
 
智慧靠领悟
 
知识可以从书本上获得,但是,智慧却要从实践中来领悟。就好像学游泳,只是通过书本来学习,读再多的游泳教科书也没用,惟有进入水中才能够明白,原来在岸上学习理论是没用的,要在水中领悟水性才是正途。
 
金钱游戏也是一样,理财知识可以从书本上获得,但是,理财智慧却要从实践中去领悟。
 
就举一个年轻人的故事为例子:
 
他中学毕业后就进入社会工作,但是,微薄的薪酬待遇令他对工作提不起劲,他总是幻想要创业,自己做老板。
 
可惜,要维持日常的生活都艰难了,哪里还有能力去筹备创业的资本。不过,他还是尽一切的努力去创业,既然没本钱,那就以合伙的方式来创业,他出力,然后找朋友出钱,共同去创业,可惜,成绩都不理想。
 
经过几年的尝试后,他发觉到,靠人不如靠自己,要真正的有所作为,最终还是需要一笔资金,所以,他就想方设法,要用最短的时间去筹集创业的资金。
 
后来,有朋友介绍说,去澳洲跳飞机可以很快的赚到钱,但是,他觉得这不是一个妥当的行为,所以就却步了。
 
须把心一横
 
这样子挣扎了几年,他的事业还是无法取得突破,生活还是这么的穷困潦倒,最后,他把心一横,决定去澳洲试一试。
 
他告诉自己,不管黑猫白猫,能够捉到老鼠的就是好猫,就当作是一场磨练吧,方正也没有什么好输的,最多是浪费几年时间而已。
 
他的决定就好像一位想要学游泳的人一样,终于决定下水了,不管是否能够学会游泳,至少要浸入水中把整个身体给弄湿。
 
到了澳洲后,他的工作是在果园采水果,每个星期可以赚一千多元的澳币,他在澳洲逗留了四年,换了几份工,也走遍了整个澳洲,一直逗留到护照要到期了才离开。
 
离境的时候,澳洲移民局官员告诉他,因为他已经逾期逗留了,所以,他将被禁止踏入澳洲为期三年。
 
他告诉我,这就是四年非法跳飞机的惩罚,所以,他赚的钱对得起天地良心,因为那都是他的血汗钱。
 
今天,他用这笔钱自己创业作老板,事业的发展相当不错。他说,那四年在澳洲给他很好的磨练,就是这份磨练加上那六位数的血汗钱,所以他的事业才可以顺利的上轨道。
 
他说,以前在这里,每天都是迟睡迟醒,工作患得患失,在澳洲却是早睡早醒,内心充满目标,干起活来也很起劲。
 
他告诉我,这种磨练就好像是置之死地而后生,在这里是学不到的。
 
吃苦是经验
 
现在三年期限已经过去,他有打算近期再去澳洲,不过,这次不是去跳飞机了,而是带老婆去旅游。
 
他谦虚的说,我没有什么学问,但是,我有的是经验,吃苦的经验。
 
我却认为他有的是智慧,赚钱的智慧,因为经验就是智慧。
 
我告诉他,经验就是智慧,但是,智慧却不一定要是经验。
 
就好像丰田是汽车,但是,汽车却不一定要是丰田。
 
就是这个道理。


Why Having A Will Is Important?


Saturday, September 22, 2012

小小意愿


每个人都会有意愿想为社会做出一些贡献, 通过文化,医药,教育,宗教。

为什麽呢

因为人之初,性本善。

积善之家,必有馀庆。积恶之家,必有馀殃。

积财不如积福。

这个意愿大有大做, 小有小做。

您如何把这个小小的意愿实现出来, 让众人分享这份喜悦 ?

这个意愿要达成,需要财力和物力。

欢迎联系,与你分享及提供方案 !

Wednesday, August 29, 2012

Over RM40 Billion assets Unclaimed......


There is RM 40 billion (RM40,000,000,000) worth of assets left by Malaysians and yet to be claimed by their heirs because most of them die without writing a Will. 

Make sure your assets DO NOT add to this unclaimed money!

This was reported on the New Straits Times paper on January 22, 2007By the way, some of this money could belong to.....

Click here for more information.

Mortgage Insurance (MLTA/MRTA) & Estate Planning

Looking at the problem of leaving the world without a Will, it makes sense for one who have a mortgage to buy MRTA or MLTA.

When a person dies without writing a Will, the problems that might be face by your loved ones are: -
  • it cost your spouse/survivors more hassle, time and money to distribute your assets:
    • the longer the process of distribution of the estates, the higher fees will be charged by lawyer. It may take 6 to 12 years or more, to complete the process.
    • hassle of finding 2 guarantors; guarantors are responsible for all your expenses and debts. Most people don’t want to be your guarantor since they will be liable for any expenses and debts.
    • appointment of administrator and trustee. Can you trust an administrator appointed by the court? Remember, nowadays, a person’s total estate could easily be worth more than RM 500,000 (properties, cars, EPF and insurance)
  • do you know that when a person pass away, all their assets will be frozen? It can take 2x longer for your family to get to your money even if it is a joint accounts. They will have cash flow problems! What if they are desperate to pay bills? What happen if your spouse is unemployed? Or worse still, what if both parent died together leaving behind only young children?
  • your children might be taken care off by someone/various relatives that is not of your choice. Besides, if you have several children, they will be “Lelong“, i.e the court will decide and divide who to take care of which child. In the end, they will be separated, especially if a relative can’t afford to keep all of them together. The court decision might not guarantee that person will love & care for your children. There are plenty of cases where children are abandoned after the money you leave for your children got squandered!
  • Can you imagine, someone you don’t like, might get a chunk of your assets?
  • your assets could be mis-handled and less go to your intended family!


http://askchong.com/2011/01/will-writing-mortgage-insurance.html

Saturday, August 25, 2012

Why having MLTA is not enough?

Many home owners buy MLTA as they see the value as compared to MRTA. (click here for MLTA vs MRTA).

However, is it the end? Mission accomplished?

Financial advisor should have done more than that. By having MLTA, part of the problem solved (having money to pay for debt in case of triggering events) but the other part of the problem still unsolved (how and when to pay the debt?).

Why I say so?

Just imagine, Mr. A bought a condo, bought MLTA.

Triggering event happened to Mr. A (esp. Death), the insurance company will pay a huge lump sum but will that money be eventually goes to settle the loan?

Many things will happen in between, many just beyond imagination, therefore, the house is still not your love one but belong to the bank.

How to solve the problem?

Write a Will or event set-up a Trust. It is not that costly as compared to if something happened without a proper paper like Will or Trust.


Friday, August 3, 2012

Mortgage Application - Market Value of the Property

One of the most important factor in a mortgage application, if the borrower need to get maximum loan, is the OMV (Open Market Value) accepted by the bank.

If seller asking for RM300,000 but the OMV by panel valuer (of the bank that the borrower want to get a max loan of 90%) is only RM250,000, then, the borrower will need to pay very large deposit from own money, i.e. RM300,000 - RM225,000 = RM75,000.

Bank only lends based on OMV, i.e. 90% x RM250,000 = RM225,000

Unless the buyer is prepared with RM75,000 ++ (other expenses like legal fee, Sale & Purchase Agreement stamp duty etc), the buyer will face a serious problem if he/she made the 2% or even 10% downpayment yet can't secure a loan to meet the balance payment.

Therefore, using an experienced mortgage consultant is important to eliminate possible problems.




CSCENIC - Small Cap - Good Dividend Yield

Update 30.7.2012
2Q2012 Results announced within 1 month from closing


  • Better Turnover Q-o-Q and Y-o-Y.
  • Better Net Profit Margin for 4Qs continuously.
Interim Single-Tier Dividend 4.5 sen per share announced, ex-date 10.10.2012 pay-date 29.10.2012.


Based on Closing Price (2.8.2012) RM1.13, the Dividend Yield is 7.96%



17 JULY 2012
Closing Price 16 July 2012 RM0.98 (Range RM0.945-RM1.02)

Good 
Track Record for high dividend payout
Net cash position.


Not so good (hope improving in next quarter)
Turnover RED for 3 quarters (lower compared to Preceding Year Same Quarter)
Net Profit RED for 4 quarters (lower compared to Preceding Year Same Quarter)


Can consider adding this to BUY & HOLD portfolio.

Yield Target = DY >8% + Capital Appreciation >2% = >10%

Defence for this stock (Safety of Principal)
1. High Dividend Yield
2. Healthy Cash Flow and Cash Position
3. Undervalued Land & Building (NTA RM0.77 as at 31.3.2012)

Wednesday, July 18, 2012

Keyman Insurance & Income Tax


Are you buying Key-Man Insurance for your business?


Two common questions?
1) Premium can claim tax (deductible for income tax)?
2) Insurance Proceeds need to pay tax (taxable receipt)?


The answer is, it DEPENDS.


The taxability of the insurance proceeds depends on whether it is a Term Life policy, Accident policy, Whole Life policy or an Endowment policy. If it is a Term Life or an Accident policy, the proceeds receivable will be taxable on the employer or the Company since the Insurance Premiums are allowable for tax deduction.


Conversely, where it is a whole life or an endownment policy, the proceeds available will be considered to be a capital receipt and not taxable on the employer or the company since the insurance premiums are not allowable for tax deduction.


In short,


Whole Life / Endowment => Premium NOT Deductible => Proceeds NOT Taxable


Term Life / Accident => Premium Deductible => Proceeds Taxable


Source / Reference:
Publlic Ruling No 2/ 2003 issued by Director General of Income Tax Department (aka LHDN)

Sunday, July 15, 2012

Risk-Free Rate AND Investment in Equities

What is Risk-Free Rate ("RFR")?


In Malaysia, RFR usually refers to Fixed Deposit ("FD") Rate, currently about 3.00% p.a.


However, FD is not totally Risk Free if you place more than RM250,000 with a bank (PIDM-Deposit Insurance), thus making anything above RM250,000 not risk-free. If you have RM2 million, you need to place RM250,000 with 8 banks, in order to enjoy "risk-free" status.


Well, what is RFR to do with Investment?


Every Investment involves certain degree of RISK. Therefore, it is only logical to invest with the investment generate above and beyond the RFR.


The higher the potential risk, the higher the ROI (Return on Investment) must be as compared to RFR.


I would prefer to invest in a company with Dividend Yield of at least 6% (with high certainty on the consistency) as compared to a company where no dividend or low dividend yield.


Investment in Gold gives you 0% yield, thus dangerous as it solely depends on the 'hope' that the gold price will goes up. No yield, you can not enjoy the benefit of "compound interest" - the 8th Wonder by Albert Einstein.


Investment in Property may also gives you much lower than RFR (as property price is at all time high now) and therefore one may have to seriously consider the asset allocation (i.e. how to allocate our limited resources effectively).


Example: If a condominium unit generate a 3% rental yield (Gross Rental / Market Value), then the owner should consider to dispose it as.........


1. Property price may not always up (supply vs demand)
2. Rental Yield of 3% is gross, after deducting for expenses and income tax, you may ended up with only 2% or lesser.
3. There is always a risk where the property price may go down due to reasons beyond our control.
4. Likely to continue appreciate??