Showing posts with label Financial Planning Business. Show all posts
Showing posts with label Financial Planning Business. Show all posts

Friday, March 25, 2011

No Pain, No Gain?


Must we suffer pain before we gain? Professional body builders believe it to be true, tearing up their muscles while doing weights and letting the muscles grow even bigger after they heal.

Must we suffer pain financially before we wake up to create our financial plans? Many Singaporeans will not want to suffer financially but without planning, they will suffer the pain and anguish of a financial storm in their lives.

We must recognise that we, ourselves, are the main source of our ability to create our wealth. We are the most important asset which can generate all the wealth we want. I am sure given time and the capability to create multi million dollars portfolios, most of us will be able to do just that.

However, what will happen to that ability to create the multi millio dollar portfolio if you became disabled, critically ill or become mentally incapacitated after a freak accident like being whacked in the head by a stray golf ball?

The pain of failing to realise one’s dreams will be devastating to anyone with high ambitions. So may I bring your attention to look at creating a plan that will cushion the impact of such potential painful incidents.

Meeting with our financial adviser like us will give you the peace of mind that you are looking for. We help our clients achieve their financial security and success by giving them personalized financial advice.

Nobody plans to fail, they fail because they failed to plan.

Don’t let the pain of spending a few hours each year with your personal financial advisor, deter you from setting your financial plans in place and reviewing your goals periodically to ensure they will materialise.

No pain, no gain? You bet.

Thursday, March 24, 2011

Failed To Claim From Your Critical Illness Insurance Policy?

Recently, I came across friends and relatives who suffered some form of critical illness. I guess as we age, more people will fall ill sooner or later as our sedentary lifestyle will affect our health eventually, for the worst.

Some of them have insurance coverage while some had inadequate insurance coverage.

Most frustrating of all is when they have insurance coverage, they could not claim against their policies due to technical reasons.

One of them is when the illness falls outside the definition of the illness by the insurance companies.

Since 1 July 2003, all the insurance companies in Singapore have agreed to follow a standardised definition of critical illnesses.

Do not hesitate to use this definition to check if you have been fairly treated.

Just give me a call at 63738797 if you need independent financial advice.

7 Tips To Being More Resourceful

Have you noticed the great divide for entrepreneurs in today’s marketplace? There seems to be a bevy of entrepreneurs who are just trying to get by, unconsciously trapped in tough times and then bringing that reality to their business and life results.

On the opposite end of the spectrum, there are entrepreneurs who view today’s economy as an extreme opportunity to create significant wealth and have the business results to show for it.

The first group of entrepreneurs I call resource less, while the second group of entrepreneurs I call resourceful. But what you may not understand is that lack of money or financial results is ONLY a symptom of underlying issues.

If you can teach yourself daily to move from a place of resource less to resourceful, unlimited possibilities for your business income growth and your life are available to you right now.

I was thinking over the weekend about my own business journey and the continual habits I practice that distinguish my ability to move from a mental state of resource less to resourcefulness. As my students know, I struggled my first few years in business and almost went bust–this truly was when I lived in a state of being resource less.

However, when I began to learn how to tap into my unlimited potential daily, I consciously began putting daily attention and effort into strengthening my ability to be successful. Not only has my business grown between 50 percent and 100 percent each year in the past six years, but I continue to see how I am in training to move my company into 100 million-plus in annual revenue.

I always say, “Your revenue can only grow as much as you do!” So, how much are you growing these days?

All of the habits listed below have been learned from some of the most legendary and successful entrepreneurs of our time. If I can learn and profit from them, you can, too. Here is my short list for your review:

1. Movement. Tony Robbins teaches that one of the easiest ways to change your emotions and your mental outlook is through movement. I prided myself on being a yogi for a long period of time, yet my significant shifts in resourcefulness came with adding in cross-training, too, such as jogging a few times a week.

I believe it is impossible to have big business success and an extraordinary quality of life if you are not physically conditioning yourself for strength, resilience, tenacity and being resourceful. Every once in a while, my team will catch me going for a mid-day run during the week.

I do this to reach for an instant upgrade in my perspective and extra support in helping me move through a certain obstacle/opportunity that may have been presented to me that day.

I know I am guaranteed to have a shift in emotions and perspective post run that has a huge impact on how I manage the rest of my day and show up as a leader for my team. Got movement in your daily or weekly routine? It could be anything that sings to you, but I promise it works.

2. Questions. Just in the past few years, I learned to ask myself better questions consistently. Before, when things seemed to go off track in business, I would unconsciously move into a state of being resource less. I would ask myself questions such as, “What is wrong with me?” “Why didn’t I figure this out quicker to avoid this happening?” and “How bad is this?”

With these questions came some pretty challenging emotions and meanings I created about certain experiences that did not empower me as an entrepreneur and certainly didn’t help my business thrive.

What really shifted my ability to be resourceful as a business owner was when I began to train myself to ask questions such as, “What is good about this?” “What is great about this?” “What is the joy in this?” “What is the love in this?” and “What is the adventure in this?” And, wow, my emotions and my meanings for challenging business experiences completely shifted.

I began to reach a level of certainty regarding the unpredictability that comes with being an entrepreneur. No matter what unfolds with my business, I have enough “WINS” on the table to know deep within myself that something challenging will ultimately be shifted into some great opportunity for growth for myself and my company.

This experience of what most entrepreneurs unconsciously try to avoid helps me build an incredible reserve of resourcefulness. How are you building your reserve today?

3. Music. Yep, music. I have my little iPod nano that sits easily on my shirt collar, and I love reaching for inspiration and motivation to help me tap into the unlimited well of possibilities–in essence, to move beyond myself. I love to listen to new music and create new memories to it. I also love to reach for older music at times to reminisce or even help me move through challenging emotions.

Just yesterday I was listening to The Best of Leonard Cohen while doing a few lazy Sunday afternoon yoga stretches on my mat, and this album reminded me of a very specific time as a young, 18-year-old fashion model in New York City and Paris.

Reliving these memories was comforting and enlightening, as life has changed so much since those days. What a true enjoyment to have music provide such a powerful refuge, energy shift and support to transformation. How do you get your groove on?

4. CANI. My hubby and life partner Andor and I have lived by this Japanese saying ever since we first met: Constant And Never-Ending Improvement. Extraordinarily successful entrepreneurs are always seeking to learn and grow.

They understand that if they are constantly nourishing their mind, they are automatically upgrading themselves and giving themselves a competitive edge. You know the saying “knowledge is power.” It’s true. It has been significant and inspiring for me to watch the rate of growth of close business colleagues who understand and embrace CANI.

Funnily, in today’s marketplace, the entrepreneurs who practice CANI are the ones being most rewarded with fantastic business growth because we are officially in the information economy. And every time you upgrade your skill, knowledge and business-profit toolkit, the more you are guaranteed to skyrocket your business and life growth.

I pride myself on going to two seminars a year, but this year I will go to at least four and consume twice as many business books as usual to ensure I am practicing CANI to its fullest potential at a time when the marketplace is changing so quickly.

5. Affirmations. This is one of the first tools of being resourceful I learned many years ago, and it works. I have daily affirmations that I have said for so many years, they are etched on my blood cells–REALLY. If you don’t have daily affirmations, I list a few here below for your review.

You are welcome to take them and adapt them to your liking, but most important, you must plan to repeat them twice a day.

Vanessa’s Affirmations:

“Every day and in every way, I am getting better and better.”

“I am healthy, wealthy and wise.”

“It is fun and easy to be successful.”

“I am powerful and profitable.”

6. Forgive 70 times seven. I have learned in business that things may not always go the way we hope, be it with our vendors, clients, employees or even key partnerships. What I have also learned is that it is essential for me to practice forgiveness, just like Jesus said: “Forgive 70 times seven” or even “Love your enemies.”

In my recent years of bigger business success, I have weathered new storms in core business relationships changing. During these key business transitions, I have not always felt my generosity or loyalty in relationships reciprocated.

What I have learned is that relationships are always in transition, especially when the marketplace is changing so quickly. And I have also learned how important it is to bless those whom you feel have wronged you.

If I am not saintly enough to love my enemies, for the sake of my own health and happiness, I can practice loving myself enough to let them go peacefully in my heart.

7. Prayer and meditation. Prayer conquers worry and ultimately puts me in a state of absolute resourcefulness because I am reminded that I am not doing it alone. It has been documented that a habit of prayer can instantly relieve worry, fear and stress. Prayer also gives me a zest for life, more life and a larger, richer, more satisfying life.

I find having a practice of daily meditation helps me make consistent contact with the divine. I have a new Platinum client whom I am really excited to be working with who meditates twice daily and has an amazing energy about her.

In a recent conversation, she was telling me about her meditation practice and jokingly shared that she tells other people they don’t have to go anywhere to get what they want in business or life; all they have to do is just sit there in meditation.

I believe there is something powerful about making conscious contact with God daily, which catapults us into being extraordinarily resourceful in all our daily affairs, including our business.

Tuesday, March 22, 2011

The Value of Advice

Research conducted in 2006 by the Australian Securities Exchange has shown that over 46% of Australians, or 7.3 million, own shares either directly or indirectly through managed funds. This means that Australians have one of the highest percentages of share ownership in the world.

Alarming however, was the statistic which showed that 17% of investors depended on newspapers for advice regarding their investments and a further 16% relied on friends and family. Only 16% relied on the advice of a professional!
Investing without sound advice is like flying blind. Newspapers and magazines mainly report past events and their content is frequently written to sell additional copies. Friends and family will always rely on their own past experiences when making financial and investment recommendations and you have to ask yourself whether such advice is truly objective. The old saying “past returns are no indication of future performance” is more true than ever in today’s complex financial and investment markets.

A good financial planner can help you reach your financial or investment goals but in the context of YOUR specific needs and objectives. In general, the value of advice lies in the following areas:
Addressing urgent needs – Before any long-term financial strategies can be undertaken it is essential to address issues (the obstacles and traps) which could prevent you from reaching your objectives. Aspects such as cash flows, debt, estate planning and insurance are just as important as the type of investment or the returns.

Identifying strategic opportunities – By understanding your personal circumstances and financial goals, a good adviser will be able to identify legislative and tax opportunities which you can take advantage of to maximize the chance of achieving your objectives.
Planning for the future – The next step is to “run the numbers”, or in other words, to model your circumstances in as many different scenarios as possible to identify the strategy that helps you to reach your goal. Your previous experiences, knowledge and attitudes towards the myriad of different areas of financial markets play a key role in determining which strategy is best for you.

Mentoring and guidance – Financial and investment markets today are constantly being flooded with new and ‘improved products’. A good financial adviser is there to help you separate the wheat from the chaff and provide guidance which does not result in you becoming the next Fincorp or Westpoint victim.

Staying the course – Deciding to take control of your future and finances is one thing – staying the course until completion to reap the rewards is another. A good financial adviser will be there to provide counsel and advice when your circumstances change or when you want to consider alternative strategies.

Friday, February 18, 2011

CPF Medishield Does Not Cover All Your Hospital Bills

You need to upgrade your CPF Medishield because it does not cover all your hospital bills. It will not cover any work related injuries as your company is expected to foot the bill with Workmen Compensation Insurance which may not be sufficient for a long stay in the hospital.

Ask your financial adviser for help to upgrade your Medishield plan now if you have not done so. If you need help here, do drop me us email soon…

Here is a List of Excluded Treatments & Medical Expenses
Generally, the following expenses are outside the scope of MediShield and cannot be claimed:
1) Entire stay in hospital if the member was admitted to the hospital before he was insured by MediShield
2) Treatment of any of the following categories of pre-existing illnesses or any other serious illnesses for which the patient had received medical treatment during the 12 months before the start of MediShield cover:
Blood disorder
Cancer
Cerebrovascular accidents (stroke)
Chronic liver cirrhosis
Chronic obstructive lung disease
Chronic renal disease, including renal failure
Coronary artery disease
Degenerative disease
Ischaemic heart disease
Rheumatic heart disease
Systemic lupus erythematosus
3) Ambulance fees
4) Congenital anomalies, hereditary conditions and disorders e.g. hole-in-heart, hare-lip
5) Cosmetic Surgery
6) Maternity charges (including Caesarean operations) or abortions
7) Dental work (except due to accidental injuries
8) Infertility, sub-fertility, assisted conception or any contraceptive operation
9) Mental illness and personality disorders
10) Optional items which are outside the scope of treatment
11) Overseas medical treatment
12) Private nursing charges
13) Purchase of kidney dialysis machines, iron- lung and other special appliances
14) Treatment for which the insured person received reimbursement from Workmen’s
15) Compensation and other forms of insurance coverage
16) Treatment of any illness, disability, injury or any condition arising from or due to the Acquired Immune Deficiency Syndrome (AIDS) virus
17) Treatment for drug addiction or alcoholism
18) Treatment of injuries arising directly or indirectly from nuclear fallout, war and related risk
19) Treatment of injuries arising from direct participation in civil commotion, riot or strike
20) Treatment of self-inflicted injuries or injuries resulting from attempted suicide
21) Vaccination

Wednesday, July 21, 2010

Financial Planning For Young Working Adults


My teenage daughters can’t wait to start work so that they can earn their own money and buy whatever they want! I can’t wait for them to start work so that the financial weight of funding their education is off my shoulders! But wait a minute!

High up in their agenda is to spend on whatever they want! That’s the danger sign!

Most young adults when given their first pay cheques would most probably go on a buying spree. With so much cash in hand, they will be very tempted to buy that iPhone 4, buy that dream car, eat at fine dining restaurants, go for multiple holiday trips in a year. They are free to spend whatever they fancy.

They have never been taught financial planning in school and most parents are not sure how to educate their children in this area because their parents did not teach them either.

Here’s my advice for you, if you have just joined the Singapore work force.

1) Save first, then spend the balance. Not spend first and save whatever is left at the end of the month. How much to save? 50% of what you earn is a good figure to start. Why? Because you are still staying with your parents, you do not need to pay for the utilities and other family expenses. 50% of your salary can go into your bank savings account, start an regular investment savings plan, buy an endowment policy which can be a short term or long term savings plan. Delay gratification is the first discipline you must master here.
Do not be tempted by quick rich schemes or “no money down” investments. If you don’t understand fully what you are getting into, stay out of it because most likely you will not even know it when you have lost all your money! Be prudent and patient when it comes to investments. Keep at least 6 months of your expenses in the bank and invest the rest using the other ways mentioned above. Yoour financial planner can calculate exactly how much you should save per month to achieve your wealth accumulation goals.

2) Protect the most important factor in your income producing model – YOU! Your ability to generate an income is the most vital component of your wealth accumulation plan. You must create the foundation of your financial plan, that is your wealth protection, that is your life insurance policies. You must cover premature death, total and permanent disability, critical illness and disability income. There are many insurance products out there, so getting an independent financial adviser will help you get the best value for your money. Don’t buy from your friend who joined an insurance company just to help him out. You will be paying the premiums for the next 10 to 25 years, so it is very important that you are not over paying for your insurance policies.

3) If you already have a boy friend or girl friend, who is also working, you must instill this financial planning mindset in that person so that both of you will not quarrel or separate because of financial issues. Most couples split because of financial problem. One save while the other spend. Different value sysytems will create havoc in your relationship.

4) Don’t sign up too many credit cards, two cards are enough for most people. You have to keep track of your credit spending. Pay off your credit card bills every month, don’t ever roll over and pay the minimum. If you have done that, quickly pay it off now! Credit cards are for convenience, don’t buy the product if you can’t afford it now. Many adults have fallen into this trap and have declared bankrupt. It is not a joke to be declared a bankrupt. Your bad record will follow you for life.

If you need consultant to help you design a financial plan, just make an appointment with us one of these days.

065-63738797

Sunday, May 16, 2010

How to Get a Health Insurance


Getting health insurance for low-income families can be done by applying for Medicaid or by obtaining inexpensive health insurance that carries high deductibles. Avoid getting stuck with large medical bills by finding affordable health care coverage with help from an insurance representative in this free video on health insurance.



 
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