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 Personal financial management, V2

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MGM
post Apr 20 2012, 12:11 PM

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QUOTE(wongmunkeong @ Apr 20 2012, 11:55 AM)
My apologies - perhaps mortgage fund is my personal English tongue.gif
Yup, it's flexi mortgage - i put my extra $ and buffer $ there, thus i don't have to pay (BLR -2.2%)pa daily rest interest rate, in effect "making" 4.4%pa currently and much more flexible than tenured FDs.

As for where to learn:
1. Basics - google cukup, plenty of write-ups around the web.
Read, process and absorb what U think makes sense to U

2. Details - books (also filter with your mind lar, k. What works then/situation may not work 100% now - just in case some fellow forumers start slinging again, being more than obvious here tongue.gif)
Books like:
+The Art of Asset Allocation: Principles and Investment Strategies for Any Market
+The Intelligent Asset Allocator: How to Build Your Portfolio to Maximize Returns and Minimize Risk
+The Intelligent Investor: The Definitive Book on Value Investing. A Book of Practical Counsel (the big momma of them all, very chewable like leather tongue.gif)
+The Four Pillars of Investing: Lessons for Building a Winning Portfolio
+Value Investing: From Graham to Buffett and Beyond
+Value Averaging: The Safe and Easy Strategy for Higher Investment Returns
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Bro, would like to know how to make 4.4% from Flexi Mortgage and thanks for sharing the booklist.
MGM
post Apr 20 2012, 12:29 PM

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QUOTE(db07mufan @ Apr 20 2012, 12:17 PM)
The insurance I kind of deliberated for a long time before plunging in.

The nature of my job requires me to be in tip top health, and half of my salary comes from how much I work. Meaning to say if I do not work that month I'll lose half of my pay.

The insurance I have pays for the days I'm not working. Let's say for health reason I may not be able to work for a month, they will be paying me a amount which is equivalent to what I earn that month working. The sole reason I took is because of that, I may not be able to cover my high fixed expenses if let's say touch wood I break my hand and am not able to work for that month.

I look forward to inputs regarding life insurance and how to not overvalue etc if you guys are willing to contribute.
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I find this site quite informative. This guy discourage using insurance for investment but encourage it for protection.
http://tankinlian.blogspot.com/
MGM
post Apr 24 2012, 11:04 AM

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QUOTE(wongmunkeong @ Apr 24 2012, 10:43 AM)
Kiyosaki's "Rich Dad" series of books?
Concepts are ok but you may want to watch out for the details/action-able items
http://www.johntreed.com/Kiyosaki.html
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Very popular books. After reading RDPD many years ago and decided that was my last. Wonder how is his real estates fare when US property bubble burst? I think he actually make more money from talks and books. Many wannabees in the local scene too.
MGM
post May 16 2012, 11:25 AM

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Taken this from: http://tankinlian.com/FramePDF.aspx?ID=643

It can be extremely rewarding. Here is an example that I have quoted often.
If you save $500 a month over 35 years and earn an yield of 2.5% per annum on the life
insurance policy, you will get around $300,000 as cash value at the end of the period. If you
invest the same money in an exchange traded fund that is invested according to the Straits
Times Index, you are likely to get about $500,000.
By investing in the life insurance policy, you will be giving away $200,000. You can get an
accident or term insurance policy to cover $300,000 by paying an annual premium of $360 or
less. Over 35 years, you will spend only $40,000 (including interest lost), but you can save
$200,000.
So, by making the right investment decision, the consumer can be better off by $160,000 and
get 30% more than the $300,000 offered by a poor yielding plan.

Added on May 16, 2012, 11:30 amThe risk of buying something you are not familiar with and what more with your retirement fund.

http://www.youtube.com/watch?v=tC1Ajdse9Uk

This post has been edited by MGM: May 16 2012, 11:30 AM
MGM
post May 16 2012, 01:13 PM

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QUOTE(magika @ May 16 2012, 01:02 PM)
You very brave one, assurance agent come and flame you.. thumbup.gif
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Just to share as part of PersonalFinMan, if want to flame , try on Mr.TanKinLian.
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