Finally, the inspiring and candid Obama won his presidency, to champion the rights and restore the dignity of right thinking Americans.
I applaud his proposal to withdraw American troops from Iraq in 16 months and his less aggressive proposition on tax cuts.
The war founded by Bush is all along for a wrong, unfounded, baseless reason.
George Bush DEFIES the UN consensus not to attack Iraq, and adopts a defiant, unilateral approach.
George W Bush laments the need to attack Iraq, due to its possesion of “WMD”, Weapons of Mass Destruction.
Till date no nuclear weapon has been found, and there is absolutely no correlation between Iraq or Saddam administration to Osama Bin Laden.
Thousands of innocent civilians killed, later simply dismissed of as “collateral damages” and trillions of American tax payers money all spend on a WRONG reason.
Americans need a GREAT leader, and with Obama, many positive changes will come our way.
1) Stronger US Dollar
This is due to savings from their their army pullout from Iraq.
Generally under Democratic presidents, in particular Obama, there will be efforts to increase government spending to stimulate certain sectors or reflate the economy.
Enough said… Congrats Obama! …. 🙂
P.S: Do download his victory speech here… Very Inspiring! 🙂
p.s. By the way, if you wish to discover a simple & halal way to create a positive monthly cashflow and calculate your net worth for FREE, then please click here…
You may find me a very FAMILIAR face in Toa Payoh MRT, in East Point, in front of Civic Centre…. everywhere….all over Singapore. 🙂
…and in meeting Singaporeans…Yes! real people like you and me….I discover something disturbing…
Many people failed to plan for their retirement….and here are their excuses comments.
1) “My money in my CPF is already a lot, enough to fund for my retirement needs”.
My reply: Most of your money in CPF has been used to pay for your house. You need to start saving now.
2) “My retirement days still FAR AWAY. I need to use my money now to buy CAR, HOUSE….. I will do it when I am older”
My reply:The opportunity cost of procrastination is huge. You can start something small, and gradually increase it. You need to start saving now
3) ” How do I plan for my retirement? No one has helped me before in this.”
My reply:Call Helmi Hakim at +65 96520134. He will help you plan for your retirement.You need to start saving now.
4) “I got too much financial commitments. Need to take care of my parents, children, pay off mortgage loans etc”
My reply:Create your own personal cashflow statement and try to reduce your variable outflow. You need to start saving now.
5) “When I retire, I will downgrade my house to a less expensive one and the profit, I will use it for my retirement”.
My reply: This method may inject uncertainty into the process because the property market can be volatile and if you were to retire at a time when the value of your real property crashes, your main source of retirement nest egg would be SEVERELY AFFECTED.
Furthermore, a decision to downgrade may not be an easy one to make on an emotional and psychological level as you may be so used to a certain standard of living that you will find it difficult to downgrade when the time comes for you to do so.
Therefore you need to start saving now.
…………………………
AHA…Now, we have been talking about retirement planning. Have you start planning for your retirement? 🙂
p.s. By the way, if you wish to discover a simple & halal way to create a positive monthly cashflow and calculate your net worth for FREE, then please click here…
I always talk to my clients about earning PASSIVE INCOME.
Increasing their invested assets in their networth statement over time etc2.
One kind of investments that can give quarterly dividends (means you GET MONEY every 3 months) is REITS.
If you buy shares, you are buying part of a company.
If you buy REITS, you are buying part of a property.
The shares of REITs are bought and sold like the stocks of other companies.
……………….
There are basically 2 types of REITs.
1) Equity Trusts
– specialise in acquiring real estate for subsequent rental income
– own properties and lease it to others
– disadvantage,if not lease, no revenue,fixed expenses still incurred
– increase in property values, trust will experience capital appreciation
2) Mortgage Trusts
– specialise in loans secured by real estate
– make loans to develop property and finance buildings
– though earned high interest,RISKY, because contractors may default loans when they are unable to sell or lease the completed buildings.
Okay….So you already know about REITs, you can click this link to see what types of REITs are available in Singapore. 🙂
p.s. By the way, if you wish to discover a simple & halal way to create a positive monthly cashflow and calculate your net worth for FREE, then please click here…
If you read my prior posts,you have learnt how to create your own personal cashflow statement and your personal balance sheet.
Today, I am going to touch on 8 FINANCIAL RATIOS that you can use to interpret your current financial standing.
I have created a mindmap, to help me recall the financial ratios.
1) Basic Liquidity Ratio
Cash/Near Cash Monthly expenses
You must have a basic liquidity ratio of 3-6 times. It signifies your ability to pay for your expenses if anything were to happen to you.
2) Liquid Assets To Networth Ratio
Cash/Near Cash Networth
Measures the proportion of networth an individual have in terms of cash or near cash. You need to have at least 15%.
3) Debt To Assets Ratio
Total Liabilities Total Assets
You need to have less than 50%. If you have more than 50%, you do not have enough assets to pay off your total debts.
4) Solvency Ratio
Networth Total Assets
It measures the long term solvency problem. The higher, the ratio, the better.
5) Debt Service Ratio
Total Debt Yearly Repayment Annualised Take Home Pay
This ratio measures the proportion of take home income, used to make regular payment of debts. If it is lower than 35%, means HEALTHY.
6) Non Mortgage Debt Service Ratio
Total Non Mortgage Debt Yearly Repayment Annualised Take Home Pay
This ratio measures the proportion of “take home income” used for regular payments of non mortgage debts.If it is lower than 15%, means HEALTHY.
7) Investment Assets To Net Worth Ratio
Invested Assets Networth
This ratio compares teh value of invested assets with networth. If it is more than 50%, means HEALTHY.
8) Savings Ratio
Savings Gross Income
This ratio calculate the proportion of your income, you set up for savings. You need to save at least 10% of your gross income.
I suggest you create your cashflow statement and your personal balance sheet and try the ratio out!
Its fun! Try it! 🙂
p.s. By the way, if you wish to discover a simple & halal way to create a positive monthly cashflow and calculate your net worth for FREE, then please click here…
…and I realised, I have contributed over 200 posts in this blog.
Phew…I feel that is really a feat.
It is very easy to create a blog, but to maintain it, you need patience, you need energy and you need a DIEING INTEREST to share your knowledge with the public.
Today’s post, I will like to share with you on what is a contract and what constitutes a contract.
I remembered learning about contractual law while studying one of my favourite modules, Business Law back in Ngee Ann Polytechnic and I revisit this this theory again, while studying for my (BICP) Basic Insurance Concepts and Principles examination.
…and now,I am taking my first module for my CFP course, Foundations In Financial Planning, I am visiting this concept again.
So…again, what exactly constitutes a VALID contract?
For a contract to be valid, there must be 4 things.
1) Offer
Example: I OFFER you to take up insurance.
2) Acceptance
Example: You ACCEPT by signing the contract.
3) Intention To Create Legal Relation
Example: You understand that I am your FINANCIAL ADVISOR and you are my CLIENT.
4) Consideration
Example: You pay the premium to me in EXCHANGE for your coverage.
So in order for a contract to be legally binding, these 4 elements must be imminent.
Any one of the elements missing, the contract is VOIDABLE.
Think of all the contracts that you have signed…. Is it binding? 🙂
p.s. By the way, if you wish to discover a simple & halal way to create a positive monthly cashflow and calculate your net worth for FREE, then please click here…
A certified financial consultant, Helmi Hakim has won praise for his patience, perseverance and practicality when solving his clients’ financial concerns. For more information on how you can manage your finances better, contact Helmi Hakim at 96520134.
