Monday, February 20, 2012

讓孩子學會珍惜


當孩子已經有能力走出門到便利商店買東西的那一刻起,就是他能開始學習管理零用錢的時候了。

“錢不是從樹上長出來的”,父母若總是以自己的錢提供孩子各種所需,便無法讓孩子明白錢的價值,更無法進一步珍惜金錢所換來的任何東西。

Marie是位單親媽媽,職業婦女工作與家庭兩頭燒的繁重壓力,總讓她對7歲的兒子迪迪有種愛的虧欠感,不自覺地便以購物消費的方式滿足孩子的物質需求,對迪迪提出的要求幾乎很少說“不”。

“媽媽,買那個給我!”迪迪在百貨公司指著昂貴的玩具要求母親付錢。

Marie正要掏錢,卻發現自己竟忘了帶錢包。

“對不起,媽媽今天沒有帶錢,我們下次再來買好不好?”

沒想到迪迪對這樣的理由完全無法接受,當場開始大哭,甚至指責媽媽沒帶錢包的不對。

Marie驚怒之餘當下頓悟,孩子會有這樣的反應,絕對與自己過往的教養方式有關。從前以為無條件的供給就是愛,沒想到卻無法教會孩子感恩與珍惜。看來,該是重新調整孩子金錢觀的時候了……但是,該怎麼做呢?

如果是你,會給迷惘的Marie甚麼建議呢?

讓孩子“花自己的錢”

相信每位聰明的父母,都能有一套自己的理念來教好孩子,但以這個例子來說,我要提出的建議只有一個,那就是:開始讓孩子“花自己的錢”。

是的,聰明的你已經想到,那正是“零用錢”!當孩子已經有能力走出門到便利商店買東西的那一刻起,就是他能開始學習管理零用錢的時候了。

“錢不是從樹上長出來的”,父母若總是以自己的錢提供孩子各種所需,便無法讓孩子明白錢的價值,更無法進一步珍惜金錢所換來的任何東西。

定期少量給予孩子固定金錢

在孩子能獨立之前,“零用錢”是親子之間最緊密的金錢關係,定期少量給予孩子固定金錢讓孩子學習支配,能讓孩子因此學會理財,更能成為養成良好品格的正增強物。

我在兒童理財教育營隊中,總有一個單元是要讓孩子們在遊戲裡學會將錢分別存進“錢變多”和“快樂花”兩個儲蓄罐,除了養成儲蓄的好習慣外,能克制多餘的消費慾望、分辨“想要”與“需要”的不同,是我更亟欲想讓孩子們擁有的觀念。

如果你是Marie,或許接下來在扭轉迪迪的觀念時,恐怕要費一番工夫與孩子的抗拒與情緒周旋囉!溫柔而堅定的態度,是教養孩子的心法之一,持續耐心地確立原則,守護孩子培養出自己的能力時,相信會是為人父母者最欣慰的時刻!

Source: (星洲日報/投資致富‧兒童理財)2012-02-12

Friday, February 17, 2012

你会留下多少?what will you reserve for your family?


出差一星期 --> 留下菜钱,每日生活所需
business trip a week -> money reserved for daily necessities

出差一个月--> 留下菜钱,每日生活所需
贷款,学费,奉养费,杂费
business trip a month -> more money reserved for daily necessities including loans, school fees, parents livings and etc.

出差一年或十年或百年呢?该留下多少呢。。。
If you are on a business trip for a year or 10 years or longer, what will/would you reserve for your family?

______________________________________________________________________

注:如果你的收入停止因死亡或严重疾病,会发生什么事?谁去支付这些帐单?
Note: What happens if your income stops because of death or diagnose any of the dread decease? Who is going to pay all these bills?

CH3: 买保险不需要很多理由; "爱有所继"~ 保险,保证让你的爱和责任延续下去
CH3:Buy insurance do not need a lot of reasons; Love has been following the insurance to ensure your love and responsibility to continue

Saturday, January 14, 2012

Cost of Delay - Senario 2


Assumption:

1. Estimated Tuition Fees per Course for 3+0 Degree Business Programs at Private Colleges /Private Universities in Malaysia at year 2011 is around RM43,000 - RM75,000 and estimation for the living expenses is around RM1,000 - RM1,500 per month. Let say we take an average figures, RM60,000 for the tuition fees and RM45,000 living cost for 3 years. Total amount = RM105,000.


2. Assume inflation = 4%. Base on rules of 72, the amount will be doubled at 18 years. Total cost needed after 18 years = RM 210,000.


3. Both Prospect A and B are age 1, their parents want to save for their education by the age of 18.


4. Prospect A is saving payment amount of RM5,800 with 8% interest start from age 1.


5. Prospect B delays his saving 5 years later with the same interest as Prospect A.


Conclusion:

1. Prospect A and Prospect B gets RM211,411.44 and RM211,101.56 respectively at the age of 18.


2.To get around the same savings balance with a 5 years delay, the amount invested of prospect A is RM98,600 and the Prospect B is RM123,600.


3. Prospect B would need to pay RM10,300 per year instead of RM5,800 and total extra amount invested RM25,000 just because of 5 years delay.


Click to enlarge the picture

Click to enlarge the picture


The sooner you start, the lesser you need to pay. ;)


Sincerely,


Tan Min Chin, CH3

Monday, October 31, 2011

For a painless hospital, surgical stint


You’ve probably heard horror stories from friends and kin about hospital and surgical (H&S) claims being denied or claim amounts not being entirely reimbursed by their insurers. Industry players stress that insurers do not attempt to minimise payments to claimants.

The main condition is that the claims must be genuine.

“Insurance companies want to be in the business for the long term, and establishing a good reputation is important for us,” says Tan Chue Chau, appointed actuary at Manulife Insurance.

Sharon Chong, managing director of Moneywise Wealth Planning & Consultancy, stresses that insurance companies do not deny claims that are supported by required documents such as medical reports and hospital bills.

Martin Yong, head of life division at State Insurance Brokers, an insurance brokerage firm, says, “It is very straightforward to make an H&S claim. If you’ve declare everything to the best of your knowledge, you will usually be reimbursed. If the insurance company thinks you’re a risky applicant based on your declaration, they would have imposed a loading or not accepted you [as an insured] in the first place.”

Here are the top five reasons why an H&S claim may be denied.

1) The claim is not covered

This problem arises because the claimants are not aware of the exclusion clauses in their policies. “Very often, they’d mistakenly think that a disease is covered, or that they are covered in particular situations,” Yong points out. Insurance agents, when highlighting the benefits of a particular policy to a consumer, should devote some time to explain the exclusions as well.

Congenital conditions, medical or physical abnormalities at the time of birth, are usually excluded, to the surprise of many claimants, says Yong. Most H&S policies do not cover congenital conditions but some insurers do provide them, with conditions on the age of the insured.

“For instance, some insurers state that they do not cover congenital diseases diagnosed before the age of 17. If the claimant is diagnosed after 17, the benefit is payable,” says Chong.

Diagnostic tests are usually not covered as well, though some insurers may pay for certain specified ones. “Insurance exists because most of us are likely to need help to pay for surgery, [and it usually does] not [cover] diagnostic tests,” says Chong.

Another common policy exclusion that is often overlooked is the overseas residence clause. This is pertinent to people who are studying or working abroad for an extended period of time.

“For instance, if you’ve stayed overseas for 90 consecutive days, you will not be compensated if you’re hospitalised anywhere in the world on the 91st day,” explains Chong.

The reasonable and customary charges provision comes into play when a claim is made for treatment received outside the country. In this provision, medical charges should not exceed the general level of charges made by providers of similar standing in Malaysia, Yong explains.

“For instance, say you did a heart surgery is the US, which cost you RM600,000. In Malaysia, the same procedure might only cost you RM100,000. The insurance company will pay you RM100,000, as it is the amount you would have incurred had the surgery been performed in Malaysia,” he says.

2) You have exceeded the coverage limit

Many policyholders are not aware of caps imposed on their medical plans. In addition to a lifetime limit, insurance companies tend to impose an annual limit or an inner limit on H&S policies. For instance, a policy can stipulate a lifetime limit of RM300,000 but limit the amount of claims to RM50,000 a year. (yearly limit)

If your actual hospitalisation bill is RM70,000, you would need to pay the difference and you cannot make any claims for the rest of the policy year.

H&S plans that were introduced more than a decade ago may even specify an inner limit.

“For each benefit of your H&S plan, there might be a limit imposed for claims. For example, if your inner limit for surgery is RM20,000, that’s the maximum that you will receive, even if the actual surgical cost is RM50,000,” says Chong.

Fierce competition among insurers has removed the inner limit clause today.

“Now, most medical plans go by the ‘as charged’ basis, which means that the insurer will reimburse the policyholder the amount charged by the hospital. Clearly, this is much better for the policyholder,” says Yong.

It is also common for policyholders to overlook their eligible benefits, such as staying in a more expensive room than the one specified in your plan.

Says Chong, most insurers have a clause stating that if you go beyond your entitlement, you must pay a 20% co-insurance fee (a fixed percentage, usually up to 20%, of the medical bills).

“Some insurers will require those who stay within their entitlement to pay a 10% co-insurance fee and there is a limit on how much they need to pay,” she adds. Others levy an administration fee, says Yong.

Also, check whether your H&S policy stipulates a “deductible”, which is an amount that you have to pay. “Say you’ve opted for a deductible of RM3,000, and your total hospital bill is RM4,000. The insurer will only pay you RM1,000 [RM4,000 – RM3,000],” Tan explains.

3) Failure to disclose pre-existing illnesses

Failure to mention an existing illness is another common reason for the rejection of a claim.

“For instance, you were diagnosed with a disease and went for an operation a few years ago. If you don’t declare it and subsequently make a claim, you will not be paid if the insurer finds out about it,” Yong explains.

4) Coverage has yet to commence

Most insurers impose a waiting period, during which claims for some specified illnesses will not be paid. “For instance, most insurance companies stipulate a 120-day waiting period for illnesses such as hypertension, tumours, cancers and cysts from the day the policy is issued,” says Tan, adding that this waiting period does not extend to accidents.

When upgrading your H&S policy, do not cancel your old plan until the waiting period for the new one has ended, advises Lim Teong Lay, author of Insurance Planning Guide for Malaysians.

5) Failing to pay your premiums on time

Needless to say, you won’t be covered if you’ve not been remitting your premiums on time. Tan says a policy lapse a month after the premium due date.

Medical plans that ride on a basic life insurance policy or investment-linked policy usually have a surrender value or an investment value that will pay for H&S coverage if the policyholder fails to pay the premiums. Once this underlying value is exhausted, all benefits will be void and claims will not be paid out, says Yong.

Source:

Friday, October 28, 2011

Cost of Delay - Senario 1

Assumption:
1. Both Prospect A and B are age 30, they want to save for their retirement by the age of 55.

2. Prospect A saves 10 years with payment amount of RM6,000 with 8% interest.

3. Prospect B delays his saving 5 years later. He pays continuously until the age of 55 with the same payment amount and interest as Prospect A.

Conclusion:
1. Prospect A gets RM297,780.80 by the age of 55.

2. Prospect B is Postponing 5 years and he would get RM296.537.53 by the age of 55.

3.To get around the same savings balance with a 5 years delay, Prospect B would need to save 20 years instead 10 years. The amount invested of prospect A is RM60,000 and the Prospect B is RM120,000. The amount Invested of Prospect B is DOUBLED in comparison to Prospect A.

Click to enlarge the picture
Click to enlarge the picture

Start your saving now, don't wait. ;)

Sincerely from
Tan Min Chin, CH3

Tuesday, October 18, 2011

勿陷買房出租6誤區


目前,傳統投資工具回報率不高,而住房價格正處於低位。那麼眼下是不是考慮買些住宅以供出租的好時機呢?

如果一切順利,現在投資房地產有可能獲取意外豐厚的利潤。許多地區的房租都在攀升,而且市場上可供出租的房屋可能還會增加。

邁克爾麥克里里(Michael McCreary)說,過去,投資者希望獲得的租金回報是房屋總價的1%,也就是說如果一棟住宅的價值是10萬美元,那麼投資者期望的月租金是1千美元,年回報率為12%。

麥克里里是房地產中介公司McCreary Realty的老闆,這家公司管理著亞特蘭大地區大約300處房產。麥克里里稱,如今他的投資者中一些人得到的房租回報高達房價的2%。

不過,一般而言,扣除費用後的平均回報率要大幅降低,大概在房價的5至6%,房地產市場預測公司Local Market Monitor的總裁因戈文策爾(Ingo Winzer)表示,即使如此,也比其他許多投資的收益率要高得多。

先別急著去找合適的房源,行動之前要記住:擁有可出租住宅是一項耗時、費錢而且麻煩不斷的投資,而且不少投資者都在這上面栽了跟斗。下面我們來對一些常見的誤區做一番瞭解。

誤區1:把廉價交易當作好交易

誠然,你能以極低的價格買到一些房子,不過這並不意味著你就能把這些房子租出去。偏僻地區的住宅不但對買房者毫無吸引力,租客同樣對這類房子不感興趣。這個道理也適用於那些不那麼受青睞的房產或是位於不太好的學區的房子。

房地產管理公司Home Pointe Property Management的羅伯特馬沙多(Robert A.Machado)說,來自舊金山的投資者常常會在薩克拉門托(Sacramento)高價買房,以為那裡的房子能給他們帶來像加州舊金山灣區(Bay Area)一樣高的房租回報,結果卻證明他們支付的價格過高了。馬沙多通過很多途徑來評估房租價格,其他業內人士則建議仔細考察週邊的公寓,不僅要看房 租,還要看他們是否提供特別優惠。

誤區2:忽略了關鍵成本

單單知道了可能獲得的租金回報還不夠。買房前,你還要考慮到大約佔交易總金額3至6%的交易結算費用、修葺和維護房子的開銷以及你持有房產的成本。然後算上你期望獲得的回報,只有這樣你才能算出你能買得起甚麼樣的房子。

誤區3:忘記了時間就是金錢

房地產經銷商Home Vestors Of America總裁戴維希克斯(David Hicks)稱,在房地產投資上,時間是你最大的敵人。

如果房子空置沒有人住,不管這時候你是在粉刷房子還是在等待招新租客,你就是在虧錢。若你在秋季買下一套房子卻等到春季才裝修完,那麼你也在虧錢。從經濟上來看,接受較低的租金比等一個願意付高價的租客或許更劃算。

誤區4:以為能坐等租金自己飛進口袋來

房地產公司Get There First Realty的馬克科萊蒂特(Mark Kreditor)說:“一旦你做了房東,你就成了一個房租催討者。”這家房地產公司在達拉斯-沃思堡地區管理著1千600家出租房屋。

就像買房子的人可能付不起貸款一樣,租房子的人也可能丟掉工作然後無法付房租。趕他們出去可能需要幾週時間,有些租客還會偷屋子裡的電器或是其他東西。科萊蒂特說,一個月總有那麼一兩次,租客在搬出去的時候將屋子裡的銅管偷出去賣廢品。

誤區5:低估維修成本

跟所有擁有住宅的人一樣,你將面臨大量維修工作。出租房屋的地毯通常每5年就必須更換一次,而且每次更換租客時,你都必須重新刷一遍房子。全國住宅管理者協會會長托尼德羅斯特(Tony A.Drost)建議留出6個月的費用以備需要重大維修時使用。

誤區6:將出租房屋等同於自己的住宅

人們住自己的房子時可能接受一些瑕疵,租房子住時卻不願湊合。另外,美國許多州和社區都針對房 東制定了嚴格(且繁復)的法律,哪怕是你只有這一套住宅也必須遵守。房屋中介能幫你解決大部份麻煩事,不過你需要支付他們一個月的房租作為尋找以及甄選租 客的傭金,而且還要支付管理費,最多為月租金的10%。

Source: 星洲日報/投資致富‧置產有道

Monday, October 17, 2011

The rising cost of education


One of the biggest worries for parents nowadays is how to fund their children’s education, which does not come cheap.

In addition, as with everything else, education expenses, be it in foreign and local colleges/universities, private primary and secondary schools, are expected to trend upwards in future.

According to CTLA Financial Planners Sdn Bhd managing director Mike Lee, the trend is upwards as far as education costs are concerned.

“In predicting the future, we can only use assumptions such as cost and inflation factors in child education planning.

“The general increase for local studies is about 3% per year and foreign about 5% and this applies to a general business degree of three years,” he tells StarBizweek. (see table)

The increasing cost is due to rising inflation as a result of hikes in food and accomodation expenses, travelling costs, books and exam fees as well as salaries, among other factors.

E.T. Education Services Sdn Bhd managing director Matthew Gan sees an average increase of between 5% to 7% annually in education costs for studies locally and in countries such as Britain, United States, Australia, Canada and Singapore (excluding foreign exchange rate fluctuations).

“Moreover, there are certain years where the increase can be in a lump sum instead of percentage depending on the circumstances,” he says.

Whitman Independent Advisors Sdn Bhd managing director Yap Ming Hui has tagged a 6% inflation rate per annum for the cost of a university education locally or overseas.

“Parents nowadays have higher expectations when it comes to their children’s education unlike before so there is a tendency to send them to private or international schools and foreign universities.

“So education becomes more expensive,” he says.

For example, business for private school Sri KDU has been flourishing since it opened its doors in 2003 with enrolment increasing to some 2,400 students currently from 500 when it first began.

Marketing manager Rina Thiagu-Kler says school fees for primary and secondary education range from RM15,000 to RM17,000 per annum with an average 10% increase in fees every two years.

Sri KDU is also expanding – its international school for secondary education is expected to be ready next year. In general, primary and secondary education in an international school is in the range of RM30,000 per annum.

So how can parents have sufficient funds for their children’s education? Lee says three things have to be considered simultaneously to ensure that money is available when needed - investment for returns such as units trusts, equities and property; insurance for protection and will needs to be written to protect the child or family in case the breadwinner dies.

“The common advice is to save and invest your money as early as possible. Let your money grow with your child,” he advises.

He says one should save according to what one can afford for the time being which is a good start. As one’s income increases, then the savings goes up as well.

“This way, parents do not feel the pressure and find that starting early will allow a smooth continuation of the funding over the years,” Lee says.

AbacusForMoney.com founder and chief executive officer Carol Yip says the ideal approach is to start saving as much cash as possible and then multiply it by investing in investment vehicles to hedge against the increase in cost of living and education.

Yip says there are several approaches to savings and investment strategies. First, choose a strategy where the investment product has capital growth and if possible has income yield in the long term, for example, property investments.

Second, have a portfolio of several types of investment assets that will give you investment returns over a period of time to meet the education costs. Third, select an investment strategy that enables you to buy and sell your investments for capital growth such as company shares and venture capital investments.

“More importantly, the chosen investment strategy must suit the parents’ style and preferences in managing investments because it is a lifelong pursuit until the child is financially independent and able to make a living for himself or herself,” Yip says.

Whitman’s Yap says some of the common mistakes parents make when saving for their child’s education fund are starting too late, saving without investing and not considering foreign exchange fluctuations for those who aim to send their children overseas.

“It is important to determine what the education costs are in current value and identify a suitable savings and investment vehicle.

“Some parents don’t even have a clue how much education costs,” he says.

refer to next article: education plan

Source: The star news online