116 FPAM Johor Chapter Tea Talk on Introduction & benefits of Offshore Insurance

FPAM Johor Chapter Tea Talk on Introduction & benefits of Offshore Insurance	FPAM Johor Chapter Tea Talk - 离岸保险的简介及益处
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Yesterday (23rd Sep 2016), FPAM Johor Chapter organized a Tea Talk on the Introduction & Benefits of Offshore Insurance. Offshore Insurance is quite new a concept to general public in Malaysia - albeit Malaysia has set up Labuan as Offshore Financial Centre many years ago. This type of insurance has been serving High Net Worth Individuals (HNWIs).	昨天（2016年9月23日），FPAM Johor Chapter举办了一场有关离岸保险简介及益处的下午茶讲座。虽然马来西亚在好多年前已经把纳闽设立为离岸金融中心，但对于许多人而言，离岸保险算是相当新奇的东西。这样的保险其实已经是高净资产人士的其中一项理财工具。
Representatives from two Offshore Insurance Companies - Hansard & Archipelago - were invited to brief on the topics. From the response of audience, it seems true many are unaware of the company, their products, and the benefits.	有两间离岸保险公司的代表，即Hansard及Archipelago，被邀请来为大家解释。从出席者的反应来看，看来大家的确是对这类公司、其产品、其益处相当的不熟悉。
Starting the heat, representative from Hansard showed the chart for USD/MYR. MYR dropped to low level against USD in 1997/98 Asian Financial Crisis and 2014 Oil & Gas Glut. The drop has caused some difficulties for parents sending their children for oversea education. This is mainly due to many parents saved children education fund in MYR only, and when things goes wrong, suddenly their money is not enough for the purpose.	打头阵的是Hansard的代表。Hansard打出美金兑马币的图标来展示马币在1997/98年亚洲金融风暴以及2014年油汽价暴跌的期间跌入低水平。这样的跌法对许多打算送孩子们出国进修的父母们造成困扰。这是因为父母们都只以马币来储蓄教育基金，而当状况不妙时，他们的钱就不够用了。
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Coupled with the rise of cost of education and living in the target country, the burden will be higher and higher if today's parents are still saving in MYR only. Hansard can help parents to save in 12 different currencies (USD, SGD, HKD, JPY, AUD, GBP etc). Almost 70% of their policyholders chose USD though. (I believe this is because USD is widely accepted anywhere.)	再加上对象国的通膨会推高教育费以及生活费，如果父母们仍旧只存马币，他们的负担只有越来越重。Hansard可以为父母们提供12种货币（计有美金、新元、港币、日元、澳币、英镑等）的储蓄。但有7成以上的保险是美金保单。（我想这是因为美金仍是广泛被接受的货币。）
Hansard also explained in some details about their features. In simple term, it is very similar to local investment policies. Some of differences are on the premium allocation, beneficiaries, taxation issues, currencies, investment funds etc.	Hansard也解释一些特点。简单地说，他们的保单相当于我们的投资连接保单。不同点在于保费分配、受益人、税务、货币、基金选择等。
Next up on the stage is representative from Archipelago. Archipelago started with some introduction of Labuan Financial Services Authority (Labuan FSA). Then an introduction on Archipelago and their services. Archipelago is purely an Offshore Insurance company where it underwrites international medical card, diabetes policy and short term endowment plan.	接着上台的是Archipelago的代表。Archipelago稍微解释了纳闽金融服务局。紧接着介绍公司及各类服务。Archipelago是存离岸保险公司，它代理国际医药卡、糖尿病保单以及短期储蓄保单。
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Participants started to get interested when Archipelago mentioned they have a niche Kidnap and Ransom Insurance. They even have specialist to negotiate with kidnappers. Yah, we all think of those in Sabah will be very interested to know of such insurance. Looks like good business opportunity. However, the insurance does not cover those kidnap caused by terrorists.	当Archipelago解释它们有绑架及赎款保单时，大家开始变得有点兴趣起来。它们甚至有专家来与绑匪谈判喔。嗨，我们每个人都想到沙巴的居民可能会对这样的保单感兴趣吧。看起来好像是生意良机喔。可惜啊可惜，这保单不保恐怖分子进行的绑架。
Both sessions are allocated with Q&A time. As usual participants are quite quiet. But the moment more and more questions being asked, the time is like never enough. Those who get to answer quiz are presented with prizes too.	两个时段都备有问答时间。刚开始大家都有点客气。可是话题一聊开，再多的发问时间似乎都不够。能够正确回答问题的出席者还有礼物拿。
After the official presentation time, it's Tea break time. All participants get to mix around for chit-chat or further discussions.	正式的演讲时间过后就是下午茶时间。所有出席者有机会相聚闲聊或继续讨论。
With the advancement of our country and more and more people becoming middle income group, the need for financial product is getting more complex. Single product, single country product, single currency product may no longer fits the future needs. When oversea travels, studies, and even retirement is getting more popular, the need for different types of financial products is not merely a show of client's needs, it is also a point for a financial planner to open up to learn and adapt.	随着国家进步以及越来越多人民晋升成为中产阶级，对于理财产品的需求也愈发复杂。单纯的某一产品或单一国家产品或单一货币产品似乎已经不能应付未来的需求。当出国旅游、留学、退休（移民）已经越来越普遍的时候，不同的理财产品不仅仅是客户的需求所在，理财专员也应更加开放的学习及接触。
Today, there are still many companies insisting on agency system. Can such system equip their agents to better prepared for future "change"? If we looked at development in developed countries, what we can says is agency system is replaced by fee based financial planner. Thus making agents hard to earn a living.	今天，仍有许多基金或保险公司仍旧固守代理员制度。这样的制度是否能确保代理员有能力应付“被改变”的命运呢？如果我们参照先进国的话，单一产品代理员已经很难生存了，普遍上这些国家都逐渐以收费理财师取代。
Such Offshore Insurance is one very example that must be sold by a licensed financial planner. It cannot be bought by walking-in, or by a bank, or by a insurance company. Is it time to think of your business model?	比如这类的离岸保险就不能通过直接上门或银行或普通保险公司的代理员来购买，它们只能通过受认可的理财专员配售。所以，是时候改变您的生意模式吧？

115 Are you investing and learning its related knowledge for your retirement?

Are you investing and learning its related knowledge for your retirement?	你是否为退休做了足够的投资以及相关知识？
There was a car workshop that I used to frequent. The owner was a friend of mine. He is an honest guy. Unfortunately, he got a stroke at beginning of the year. Luckily, his two sons are already working.	有一间修车店是我常光顾的。修车店老板是朋友来的。老实的老板。很可惜的，去年年尾吧他不幸中风了。庆幸的是，两个儿子已经可以投入职场了。
I believe this is a great blow to him. And to his family, his unexpected retirement did cause some anxiety in their finance. It seems to me he did not saves enough for retirement. And he was not investing even though he owns some banking shares at some point of time.	我相信这对他是很大的打击。而对他的家里人而言，意料不到的被退休却也对他们的财务造成一些紧张。看来他似乎没有为退休储蓄足够的基金。而他也没有任何投资，只是在某一段时间点曾有过几张银行股。
I have long believed investing is the only profession that is not hindered by our age. When age catch up with us, we have to retire from any active job. Or we may be willing to work, but our employer may not be.	我早已确信投资是唯一不会被年龄限制的行业。当我们年华老去，我们总得从职场退出。就算我们愿意，老板也可以嫌弃我们手脚慢工钱高。这是再现实不过的事了。
It's different in investing. As long as we have capital, knowledge and movement ability, age can restrict us to invest. But investing is not a fast process, we can get it done by reading a few books. Especially when we look at our friends and relative, we will realized so many of them will tell us shares are not us.	投资就不同了。只要我们有资金、知识和行动能力，年龄根本不能限制我们。但是投资这一回事却不是能一撮而就，抑或是读了几本书就能成功的。尤其是股票投资。只要回头望望身边的亲戚朋友，总有人认为股票不是小市民的玩意儿。
Then, how can we go about with it? Investing is a long term journey. Compared to knowledge, we need a fine temperament. A temperament that doesn't make us to shake when something happen. Normal investor doesn't like to see their investment value goes south. And to stay composed, we need to go though some training.	那么，投资这一码子事到底该如何做？投资其实是一个长期的学习过程。比起知识，它更着重的是性情。一种犹如泰山崩于前，而不动的性情吧。投资者一般都不喜欢看到自己的投资额往下走的情况。要在如此情况下依然悠然自在，必须经过某些淬炼。
For that, we must be trained in the same field. The first loss is always the most hurtful. As time goes by, as we gained more experience and (unfortunately) more losses, we become numb to price changes.	要有如此境界，不可或缺的就要在投资领域里被训练。通常第一次的割肉是最痛的。随着经验的累积和（不幸的）不断割肉，久而久之就练就对价钱变动感到麻木。
And it is while young that we can endure losses for we have long working years to earn back them. As we approach retirement age, we tends to get more and more conservative.	而且只要趁年轻我们才经得起亏损，因为我们有足够的工作年岁来转回亏损的部分。当我们越接近退休时，我们一般上会变得愈发保守。
So, as I see my workshop friend's plight, I somehow think he has not invest and learn enough for his retirement. And I wonder has his two sons ever thought about such thing, now.	当我看好修车店朋友的遭遇时，我认为他并没有为退休做足投资或学习投资知识。我也好奇他的儿子们是否曾想过改变？
It is my wish that during retirement age, I want to be active in investing. Unless I am bedridden or I have lost my movement ability, then it's another story.	我的梦想是退休时依然可以继续投资。除非我不幸卧榻病床或失去行动能力，那就另当别论。
Let's learn knowledge about investments and invest when we are still working. It may take few years for us to see results. Time is our friend. There are many types of investments, and many type investing skills in stocks alone.	让我们都学习投资并在趁有工作能力时开始投资。可能要等上好几年才会看到成绩。但时间是我们的伙伴。市面上有许许多多的投资工具。单就股票而言就有许多种投资方式。
Go and try the skills that looks interesting to you. For we learn the most when we fail. Some of my client like more of trading, while some go for fundamental. And they are comfortable with it.	尽量去尝试看起来有意思的方式。因为我们失败是成功之母啊。我们顾客群当中，有些喜欢偏向交易性质，有些偏向基本面投资方式。但他们都感到自在。
As we invest long enough, we will cherish our capital more and more. Anyhow, we do not want to over-expose our capital to excessive loss. And by the time come retirement, hopefully we all have the admirable knowledge and temperament to invest successfully.	当我们投资得越久，我们应该会愈发珍惜我们的资本。无论如何，我们总不愿把资本陷在不必要的风险里头。希望到那一天，我们永远令人羡慕的投资知识和性情。而我们的投资也是成功的。

114 FPAM Johor Chapter Tea Talk: Offshore Insurance | 23/9/2016

FPAM Johor Chapter Tea Talk: Offshore Insurance | 23/9/2016	FPAM Johor Chapter Tea Talk: 离岸保险 | 23/9/2016
For the very first time, Phillip Wealth Planner (PWP) will collaborate with FPAM JB Chapter to organize a Friday Tea Talk centered on topic of Offshore Insurance. Since the forming of FPAM JB Chapter, this is the first time my pricipal, PWP, cooperates with them.	有史以来第一次，Phillip Wealth Planner (PWP)将与FPAM JB Chapter合作举办 Friday Tea Talk，主题围绕“离岸保险”或“岸外保险”这个课题。自FPAM JB Chapter成立以来，这是第一次我代表的公司PWP与他们合作。
I think this is a very interesting subject. Many people may be wondering about Offshore insurance or banking etc. However, we never have the chance to listen from people working inside such offshore firms to tell us what is it all about.	我认为这是挺有趣的课题。很多人多多少少会对离岸保险或金融产品有些好奇。遗憾的是我们没有听过在该公司上班的人员述说这些产品是怎么一回事。
This time, representatives from Archipelago Life Insurance and Hansard International will share on this interesting subject. They are based in Labuan - our home grown offshore center, and has marketing office in KL. So, they are not somewhere far far away.	如今，Archipelago Life Insurance 以及Hansard International的代表门将分享这个题目。他们的公司都在纳闽，我们本土的离岸中心，并且在吉隆坡有办事处。所以，他们并不是在遥远的地方。
I am inviting my friends and clients to listen to them. It's a 3-hour talk with tea - so it's tea talk.	我将邀请朋友们及顾客来聆听。整个分享大概为时3个小时，且备有茶点，不然怎称得上是Tea Talk。
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If you want to know more about the tea talk, you may visit FPAM website, or email to me at sateo7689@yahoo.com.	若是您有兴趣，可以到访FPAM的网站，抑或电邮sateo7689@yahoo.com询问。
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113 60b unclaimed estate!

60b unclaimed estate!	600亿遗产待领！
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This is, yet again, a reminder for all of us to properly plan our assets. We work hard for our family but due to procrastination or ignorance, we let our hard-earned money hang somewhere. 60b is a huge number! It's equivalent to 60,000 units of house costing RM1m each. Or if spread to our population or 27m, each will get RM2,222. Wow.	以上的新闻对还未好好规划财产的人而言又是一记棒头痛喝。我们忙忙碌碌为家人打拼，但是因着一时拖延或是无知却让辛辛苦苦赚来的钱吊在半空中。600亿可是天文数字啊。它相等于6万间价值百万的屋子；或若是平分给2千7百万人口的话，每个人可以分得2，222元。
Although we have a Distribution Act to specify who, among our family member, can get our assets, the process takes time. We must remember all assets will be frozen until a Letter of Administration is produced to unlock them.	虽然说我国有遗产分配法令来分配遗产给家里人，整个程序却相当耗时。在申请到遗产管理书之前，所有的财产都是被冻结的。若是家人急需那些钱来维持生计的话，那真的苦不堪言了。
The only two assets that won't need to go through probate process are EPF and insurance. Of course, that means that person has an updated nomination for both of them. Failing which, yet again, the monies will still fall into the estate and subjected to probate process.	只有公积金和保险金是无需经过遗产认证程序的。当然，拥有人必须确保在有关当局的提名是即时更新的。要不然，那些钱又掉入遗产里面，即表示要经过遗产认证程序。
In terms of personnel experience, some of the reasons most people don't make a Will today are because:- 1. Still Young 2. Not many assets 3. Still single 4. Writing a Will is expensive 5. "Pantang"	依个人经验而言，多数人不缮写遗嘱的理由多为：- 1。还年轻 2。财产还少 3。还单身 4。缮写遗嘱很贵 5。禁忌
I shall not elaborate in details those reasons. In fact, some of the reasoning are almost similar to people delaying their retirement savings process. Is this because of human nature? As a responsible person, we should think carefully and responsibly.	我不详细讲解。其实呢，当中的某些理由就跟许多人延迟储蓄退休金的理由是一样的。难道这就是人性吗？身为负责任的人，我们应该好好想想。
The awareness or the willingness to make one is often after some kind of tragedy happened. In the newspaper article, it says such awareness heightened after the two unfortunate airplane incidents. In my church community, such awareness and willingness heightened when one of our sister pass away at a young age. Her family has to go to many offices to claim her estate.	通常是某些不幸的事件发生后，人民才会醒觉或者有意愿改变。以上的报道说到经过两宗空难之后人们才开始醒觉。又比如在我的教会里，同样的醒觉及改变是在某位姐妹回天家后才开始出现的。那时她的家人必须奔跑不同的部门处理遗产。
When making a Will, most testator (the person making the Will) likes to appoint their close relative to be their executor (the person who represent testator to do all the processes). In the earlier days, I am quite OK with such practice as long as the appointed person is capable, well aware and willing to take on the responsibility.	当缮写遗嘱时，许多立遗嘱者喜欢委任亲戚成为执行人，即跑腿。在早期，只要被委任的人有能力、被告知以及愿意接受的话，我对如此的安排倒还好。
However, I have a change of view after one of my friend client pass away leaving his wife and two young school-going daughters. Her wife complained it's too tiring - she has to squeeze time to apply for Grant of Probate, going to many places to get things done, take care of children etc.	只是到了最近，就是当我的朋友兼顾客过世留下妻子和两个还在上学的女儿。为妻的投诉所有的东西太累人了，她必须抽时间申请遗嘱认证、奔跑不同部门、又得照顾两个孩子的吃穿上下学等。
After that, I ask myself the same question:- Even if I have written a Will, do I want my wife to spend all the trouble to go through all unfamiliar processes, on top of her daily chores and especially in sadness. My immediate response is No. If a professional trustee can do the job, why not pay them and spare my wife all the trouble. So, I strongly suggest clients to opt for professional trustee, especially he is a male testator. Do the best arrangement for beloved wife and children.	过后我自问：如果我立了遗嘱，我是否愿意让我的妻子去处理一些她根本不熟悉的任务呢？我的即时反应是否定的。如果一个专业的信托人可以代劳，我何不让他们去处理呢？因此，我鼓励顾客选择使用专业信托人，尤其是立遗嘱的是男性顾客。还是为妻子跟孩子们好好安排吧！
So, please approach a qualified financial planner to understand how to plan a Will today. Remember making a Will does not immediately transfer of your assets to other people. A Will only take effects only after the testator has finished his jobs assigned by God. During his lifetime, he can amend the Will anytime.	请今天就约见合格理财师了解如何规划您的遗嘱。缮写遗嘱并不表示你马上把财产转移给受益人。遗嘱是在立写的人被召回天家后才生效的。在生的时候，他可以随时更改遗嘱的。
If you need information, please contact me at sateo7689@yahoo.com. No obligation.	若是您需要任何咨询，请联络sateo7689@yahoo.com。

112 Seek financial advice from licensed financial planner!

Seek financial advice from licensed financial planner!	向合格理财师寻求财务建议吧！
In Malaysia, financial planning industry is highly regulated by Securities Commission and Bank Negara Malaysia. A potential planner must complete academic qualification - CFP - before applying to both authorities to be licensed as financial planner.	在马来西亚，理财行业是由证券委员会和国家银行严格监控的。一个潜在理财师必须完成CFP才能向有关当局申请为理财师。
The word "financial planner" is also regulated, whereby only licensed personnel can carry that title. So, the next time you see somebody presenting himself as a planner, be sure to enquire further if he is qualified academically, and also licensed.	“理财师”的字眼其实也是严格被监控的，只有有牌理财师才能使用那个衔头。因此，下次有人自称为理财师，请务必询问他是否是合格并拥有执照。
On 29 July, 2016, we read in newspapers SC reminded public not seek financial advice from anybody posing as one. Financial planner will be able to provide solutions without biased.	我们在2016年7月29号的各大报纸读到证券委员会提醒大众别轻易向自称为理财师的人员寻求财务询问。理财师可以给予客观的解决方案。
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Financial planning firm, like Phillip Wealth Planners I am attached to, tied up with many investment, insurance, will & trust companies, to provide multiple choices for client's.	理财公司，比如我加入的Phillip Wealth Planners，是与多间投资、保险、遗嘱和信托公司拥有合作关系，来提供顾客多重选择。
Planners like us are not forced by any principal to promote their products. In fact, we do not have maintenance quota to meet. So, it's very relaxing for us to choose the best for our clients.	我们这些理财专员并没有被规定要售卖任何一家公司的产品。我们甚至于无需达到任何销售额。所以我们可以没有压力的为顾客选择最好的。
For example, when a client enquire for a medical card policy, we can provide few company's proposal for clients to choose. Eventually, client may like a certain company or a certain feature. We are just there to provide solution - to solve his need. It doesn't matter, to us, which company he chose anyway.	举例顾客要求医药卡保单。我们就可以提供几间公司的proposal让顾客选择。顾客可能喜欢某个品牌或是某个产品特点。重点是我们提供了解决顾客需要的方案。至于顾客最终选择哪一家公司，对我们都无影响。
To identify if your planner is licensed, you can do the following checks:- 1. CFP/RPF qualification 2. Licensing check	要确保你的理财专员是否拥有执照，可以依循以下方法。 1。CFP/RFP资格 2。执照搜寻
1. CFP/RFP qualification Apparently, the first step to be a financial planner is a academic qualification. The most common we can find are CFP or RFP. A qualified planner will be proud to print relevant logo on their name card. So the next time you are presented with one, see if you can find any of those.	1。CFP/RFP资格 要成为理财师，第一步就是要有合格的知识。最为人知的两个为CFP或RFP。合格的理财师一定会很骄傲的把这些logo印在名片上。下次您收到名片时，不妨仔细看看有否它们的踪迹。
2. Licensing check To do this, browse to http://ers.seccom.com.my/public/Default.aspx?menu=1 Simply key in the name, and it will show which company the planner is attached to.	2。执照检查 可以到以下网址查询。 http://ers.seccom.com.my/public/Default.aspx?menu=1 只需输入名字，理财师附属的公司就会出现。

111 FPAM CE Seminar: Alternative Strategies for Investing In Equities for Financial Planners and Individuals

FPAM CE Seminar: Alternative Strategies for Investing In Equities for Financial Planners and Individuals	FPAM CE Seminar: Alternative Strategies for Investing In Equities for Financial Planners and Individuals
It has been quite a while since I last blog. Where have I been? Well, I re-look back my share investment and found I have been too active in trading. Impatience and ignorance has caused my portfolio to shrink. I am dissatisfied and looks for way to improve my skills.	嗯，已经有相当一阵子没有涂涂写写了。失踪了吗？其实呢，我是重新检视我的股票投资，发觉我太频密交易了。我的资金被“心急”和“无知”侵蚀了。对此我非常的不满意，因此发奋图强寻找提升功力的方法。
So, all these moments I have been reading about Fundamental Analysis. I grab every moment available to munch as much as possible. The eagerness to better my skill is driving me. That's why I am absence here.	这段时间我都在阅读关于基本分析的资料。尽量多阅读。因为内心的催逼，所以就暂时失踪了。
Talking about investment, I find most of us has actually divert from the actual investing that should be. We have slowly been diverting to trading, punting or speculating.	说回投资，我发觉我们已经渐渐偏离正确投资的观念。我们逐渐走向做交易、投机。
“An investment operation is one which, upon thorough analysis, promises safety of principal and an adequate return. Operations not meeting these requirements are speculative.” ― Benjamin Graham, The Intelligent Investor	本杰明格拉翰在其著作聪明的投资者里说一个投资行动是一个经过仔细分析后确保本金安全以及足够的回酬。凡是不符合以上要求的行动都被归纳为投机。
So, I have slowly reshuffle my portfolio towards investing. I study on hand stocks. Those that does not meet my requirements are being kicked out. Those quality stocks I check if they are overvalued. I feel so relax now, for I know I own good stocks. Any fluctuation in their prices is not cause for concern.	我逐渐把手上的资产转向投资。好好的研究手上的股票。凡是不符合我的规格的一律剔除。符合规格再检视是否太贵了。现在我觉得轻松多了，因为都是好股。股价波动不再是胆战心惊的事了。
About the FPAM CE Seminar	关于FPAM CE讲座
-   Sitting in the center is speaker of the day, Mr Stanley Loh.
When I was so greatly chewing all learning materials, it was so timely that I attended this FPAM CE Seminar on 16 July 2016. It was "Alternative Strategies for Investing in Equities for Financial Planners and Individuals" by Mr Stanley Loh.	正当我拼命咀嚼资料时，正好让我参加了在2016年7月16日举行的FPAM的CE讲座。这是由Stanley Loh主讲的给予理财师以及个人的股票投资的另类策略。
Mr Stanley rightly pointed out most investors failed miserably in capital market exactly because we do not do our homework before clicking the Buy and Sell buttons. We simply hantam based on hearsay or hot news.	Stanley一击即中的指出多数投资者战死股市皆因我们在买卖前从不做功课。我们是凭听闻或股道消息行动的。
He is right to say we survey on many things before buying (e.g. a house) but we don't do the same for stocks. And we are so biased with stocks, labeling it as speculative or risky. As he puts it, we put money in FD because we trust the bank won't collapse but we deems its shares as risky. So irony isn't it?	他说我们在买许多东西之前（比如屋子）会多方查询，但往往买股票之前就不会如此做。而且我们偏激归类股票为投机或危险。正如他所说的，我们因着相信银行而把钱放入定存但我们却把银行股归类为危险股。是不是很讽刺呢？
He is also right that we don't even check how the company is doing - are they making money, are they paying any dividend etc. Some companies' financial positions are so worrying that we should not risk our capital on hand. No wonder we are slaughtered in share market.	我们也是没有调查公司状况，比如是否赚钱、是否有派息之类。有些公司的财务状况惨不忍睹到我们根本不值得把我们的资本送羊入虎口。难怪我们总是任人鱼肉。
To him, the most important thing in a stock is the management integrity. If he is uncertain or uncomfortable with the management, he won't touch its shares. He would go to AGM to meet eye to eye with management, to have a feel of how the management does the business.	对他而言，对一支股票最重要的莫过于管理层的诚信。如果他对管理层有所怀疑或保留，那他是绝不染指该只股票的。他也会参加AGM去见管理层，去感受管理层是如何管理生意的。
Mr Stanley also showed to us how he does the initial 2-minute check-up for a company before deciding to invest. He is a very experienced investor and planner indeed.	Stanley也现场示范他如何进行一个2分钟初步分析，之后再决定投不投资。他果然是资深的投资者和理财师。
As a value investor who invest purely on Fundamental Analysis, he is not a bit worry on market fluctuation. In fact, he patiently wait for market to go for opposite direction. He is practicing what Warren Buffett puts it - Be fearful when others are greedy. Be greedy when others are fearful.	身为单纯以基本分析投资的价值型投资者，他本身从不担心市场波动。他会痴痴的等股市出状况。他所做的正是巴菲特说的当别人贪婪时要恐慌，而当别人恐慌时要贪婪。
He says a value investors live a long live because he doesn't worry about the market. He plans his trade well in advanced, and implement it accordingly.	他所价值型投资者可以长命百岁因为泰山崩于前而色不变。他总是谋定而动。（我也要长命百岁喔。）
What have I learnt?	学习
I have to say what Mr Stanley said concludes what I have been reading. I think I am on the right way to go for value investing by applying Fundamental Analysis. Many of his concepts, definitions and thinking confirms what I have been reading. I think that is how investing should be.	Stanley所说的证实我所读的是真的、是对的、是行得通的。我想我正走在正确的道路上。他所分享的让我确定这才是真正的所谓的投资正道。
Now, I know the fundamental of the stocks I have. Do I need to worry it will go bust? All I need to do is pick one which management with integrity, monitoring their business results every quarter. Yes, share price will go up and down, and nobody can predict. Price correction is time to collect, price appreciation is time to let go.	如今我知道我的股票的底细。我是否要担心它是否会破产吗？抑或落入股市陷阱里了？我得仔细选择有诚信的管理层并每季跟进生意状况。股票的确会浮动，但价跌买，价高卖咯。
As a matter of fact, I think his title is not that correct. Oops, what do I mean? Following Benjamin Graham's definition, if this is the real investing should be, it should not be "alternative strategies" It should be the "correct strategies". All others should be "alternative strategies" instead. Ha ha.	其实呢，我想他的讲座标题似乎不对喔。什么意思呢？如果根据本杰明格拉翰的定义，既然投资本因如此，那就不该标为“另类策略”而应该是“正确策略”吧。其他才是另类策略吧。
No, I am not putting down other strategies. I believe there are many types of investors. Some are comfortable with FA, some are TA, some uses hybrid techniques.	噢不，我并不是贬低其他策略。我相信青菜豆腐，各取所爱。有人适合基本分析，有人适合技术分析，有人适合混合分析。就如小说里的有人内而外，有人外而内，有人里外兼修。最后都成为高人。
And I have also learn we planners should always plan according to clients' requirements. Never ever expose clients' capital to unnecessary risks. Always treat it like our own money.	我也学习到身为理财师的我们必须尽职为顾客规划。千万不要逞英雄吧顾客的资金陷入不必要的风险里头。务必把顾客的资金当成自己的资金管理。
I hope I can have many other fellow planners that can share the same value can co-operate together to share and sharpen our skills. After all, one man's ability is limited.	我也希望可以有更多有相同理念的理财师一同合作、一同成长。毕竟独木难成林啊。
If you would like to know the upcoming CE seminars or Tea Talk, email me at sateo7689@yahoo.com.	如果您有兴趣知道接下来的CE课程或下午茶分享会，可以电邮至sateo7689@yahoo.com。

110 CFP Class 2016 2H Intake

CFP Class 2016 2H Intake	2016年下半年CFP课程收生
CFP Class 2016 2H Intake is now started. The coming class is expected to start on end Aug. Class will be arranged on Sat / Sun. Normally it is 2~3 classes per month, and it will end before Dec. Just in time for students to prepare for exam.	2016年下半年CFP课程已经开始收生了。课程预计在八月尾开始上课。课程会安排在星期六、日。一个月会上课两三堂课，会在十二月之前完成。学生们正好有足够时间准备考试。
This coming classes will be for Module 1 to 3. Module 4 will be opened next Feb.	本次会开课第一至第三单元。单元四将在明年二月开课。
If you need further info, kindly email to me at sateo7689@yahoo.com.	欢迎各位来邮询问。sateo7689@yahoo.com

109 PRS Youth Incentive still available

PRS Youth Incentive still available	私人退休金青年奖掖
This article appeared in Nan Yang Siang Pau last month. It says government's allocation for PRS Youth Incentive only used up 8% of its total allocation. This means there are still a lot of money for youths to claim. This also means lots of youth still do not know about PRS Youth Incentive.	这是上个月刊登在南洋商报的文章。文章说政府为私人退休金预备的青年奖掖仅仅发出了总数的8%。这说明还有很多钱等着青年人去索取。亦说明许多青年人仍不晓得私人退休金青年奖掖。
Immediately upon reading the news, I snap the news and forwarded to my clients regardless of their age. The older one may have kids or relative who might be in the age that qualifies for the incentive.	我一读完文章，就赶紧拍下传给顾客们，也不管他们的年龄。比较年长的顾客可能会有孩子或亲戚符合资格。
PPA is aggressively promoting proper retirement fund planning through extra savings in PRS. Normally, we do not have idea of how much to save. According to PPA suggestion, just another 10% savings will do a lot of difference.	PPA正积极的推动人民额外储蓄在私人退休金以便更好地准备退休金。一般上，我们可能不晓得该存多少钱。根据PPA的建议，多存10%就有很大的不同。
Let's understand that we already have 23%~24% savings through EPF. Meaning we need to fork out 10% from our pocket money. That's all. The newspaper also point out the difference with or without the extra 10%.	我们明白通过公积金，我们已经储蓄了23%至24%。那我们只需要从口袋多存10%就可以了。文章也指出有无10%的差别。
In the illustration, it is RM690K vs RM1.1Mil. So, it's RM400K difference with that extra 10% savings. I think RM400K is a substantial amount. It is remarkable an extra RM320 a month can do such wonders.	根据例子，差别是69万对110万。所以是40万的差别。我觉得40万是蛮大的数目。而每月多320元就可以创造这笔数目真是厉害。
Let's all seriously think about saving that extra 10%.	让我们认真想想多存10%吧。

108 CFP Class Introduction

CFP Class Introduction	CFP理财课程简介
Welcome to our CFP class introduction this Sunday.	欢迎各位来了解。
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Pls email to sateo7689@yahoo.com if you are interested.	有兴趣者请电邮至sateo7689@yahoo.com。
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107 PRS Youth Scheme allocation still availabel

Calling all youngsters - PRS Yooth Scheme is waiting for you...	年轻人啊 私人退休金计划青年人奖励正等着你
Below article was an exclusive interview of PPA by Nan Yang Siang Pau appeared on 16/5/2016. It says about Government's allocation for PRS Youth Scheme received lukewarm response. It is opened from 2014 ~ 2018. Almost half way through, but the fund has only disbursed 8% of its total.	以下这篇PPA的专访刊登在16/5/2016的南洋商报。报道说政府为私人退休金计划青年人奖励反应不好。这个奖励从2014年开放至2018年。如今已经走了将近一半，但是派出的数目仅是总数的8%，还不到一成。
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This incentive is opened for all youth aged between 20 and 30 (both age included). What they have to do is just to invest RM1000, within a calendar year, into any PRS fund, and the Government will reward them with RM500.	这个奖励是给予年龄介于20至30岁的青年人。他们只需要在一年内投资1千元，政府就会奖赏5百元。
Many of my friends are interested in it BUT they are, sadly, over-aged. Youngsters, why aren't you going for it? RM500 for RM1000 investment represents a 50% returns guaranteed.	我的朋友当中有好些也想得到，可是可惜的，超龄了。年轻人啊，为什么你们不要呢？买1钱得5百可是整整50%的保证回酬啊！
Parents, why don't you invest for your child, perhaps as a gift for their future? I strongly believe a gift will be well remembered. One day your children will tell their children this is a gift from their grandparents.	父母啊，为何您不为孩子们投资呢？就当作是他们的礼物。我始终相信人人会纪念别人送的礼物。有一天，你的孩子们会跟他们的孩子们说这是他们的祖父母们留下的礼物。
The money in PRS will be invested by respective fund house and is only withdrawable upon retirement age - currently 55. So, if the money is being left there for 20 years, grow at 8% per annum, it will grow to RM6990.	私人退休金里的钱会由个别基金公司管理，并且只有在退休年龄（目前55岁）后才可以领出。意思是说，如果该笔钱留在那里20年而每年以8%成长的话，它将增值到RM6990。
Furthermore, investment in PRS entitles you to claim extra RM3000 (maximum) tax relief. If you continue subscribing, in order to enjoy the tax relief, your future withdrawable value will be much much higher.	再加上私人退休基金的投资可让你额外扣税最高3千元。如果你为了这项益处继续投资的话，将来的数目更高啦。
I believe PRS, like EPF, is the best tax relief item. To me for all other tax relief items, money spent is money spent. For PRS, money saved is money earned.	我认为私人退休金是仅次于公积金的最好的扣税项目。对我而言，其他的扣税项目，钱花了就是花了。但私人退休金呢，钱存了就是赚了。这 好像李嘉诚说的吧？
Folks, make up your mind today. Kick start your retirement savings now. Do it while government's allocation is still available. Be rewarded for investing.	大伙儿们啊，现在就下定决心吧。现在就开始你的退休储蓄。何不乘着政府的拨款充足，快快行动。投资还有奖励啊，多好？
Contact me at sateo7689@yahoo.com if you need further info, or other financial related issues.	若是你有任何疑问或相关查询，请电邮sateo7689@yahoo.com。

106 About Wills & Trusts - The trustee company

About Wills & Trusts - The trustee company	关于遗嘱以及信托 - 信托公司篇
I attended a will & trust training by Pacific Trustees Bhd - our panel trustee company. So, picked up some new things while being reminded of some. So I want to note them down before I forget.	我刚上完Pacific Trustee的遗嘱以及信托训练。从中学习到了新的知识，也有被提醒了的。所以赶紧笔录下来，免得忘了。
About Pacific Trustee Pacific Trustee itself has been doing corporate trustee business. It has no relation with Pacific Mutual or the previous Pacific Bank. Now it is venturing into private trustee business - personal wills & trusts - by tying up with various fund management companies or financial planning firms.	关于Pacific Trustee Pacific Trustee已经在是在经营着公司界的信托。它与太平洋信托基金公司抑或之前的太平洋银行没有任何关系。现在，它们正式跨进私人信托事务，亦即个人遗嘱跟信托。它们是通过与基金公司和理财公司合作。
About trustee company Trustee company must find another trustee company to take over their business or cases before winding up their business. This means a continue follow up to a client's case even if a trustee company decides to close down. When "H" Trustee company stop business, H Trustee passed some cases to Pacific Trustee.	关于信托公司 信托公司若是有意结束营业的话，那它们必须寻找其他信托公司来接受手上的生意。如此一来，顾客的事务也会在原本的信托公司结业后由新的信托公司接手。举例当H信托公司结业时，它们把某些个案交给了Pacific Trustee。
Trustee's stringent procedures Trustee will carry out their duties in distributing and managing assets in accordance with the law requirements. This ensures client's assets are being passed to beneficiaries in a smooth and effective manner.	信托公司严守条规 信托公司在分配以及管理财产的事务上严守法律的规定。如此便可确保顾客所托顾的遗产能够顺利及有效的交到受益人手中。
For enquiries, pls email to sateo7689@yahoo.com	若是您有任何指教，请电邮至sateo7689@yahoo.com

105 Convert cash into cash flow - endowment plans & annuity scheme

Convert cash into cash flow - endowment plans & annuity scheme	把现金换成现金流-储蓄保险计划、年金计划
I always get asked about endowment plans. Normally the person who asked are confused because he was told the returns to be very high. After all, they are selling like hot cake especially during uncertain market condition.	我常常被问到关于储蓄保险计划。通常问的人都是因为听说回酬非常高而感到困惑。这类产品的确是销量俊俏，尤其是股市不好的时候。
I always view endowment plans as a great product to convert cash into much needed cash flow, with some decent rate of return. Another similar product is annuity scheme.	对我而言储蓄保险计划确实把现金转换成现金流的好工具。当然也提供一些些的回酬。另外一个相似的工具就是年金计划。
Since they are all insurance products, purchasers need to understand the payment period, and never miss it. Next is he has to justify his need to take up such products.	这两者皆是保险产品，因此买家必须明了付款期限，不能不还。他也必须了解他是否需要这类产品。
Cash flow is important	现金流很重要
Poor cash flow is miserable. Interestingly, this can happen to both the low income as well as the cash rich.	差劲的现金流会很恼人的。有趣的是，不管高低收入人士都有可能陷入现金流难题里边。
For the poor, one the bills are coming in on time while the income is always late, the anxiety is imaginable. Impulsive or unplanned spending could be the culprit. So, instead of spending, try channeling some money into annuity scheme to provide guarantee income during retirement.	相对贫穷的人面对“账单总是准时，收入总是迟迟”，焦虑自是不带而言的。罪魁祸首可能是冲动式消费或无预算式消费。所以与其消费，不妨把现金转入年金计划来使到退休时有固定收入吧。
Stocking too much cash in low yielding instruments, like in FD etc, can also make someone poor. He may not dare to use the money because he will worry the money will outlast him. Placing his money in some instrument that guarantees a future payment helps.	存放太多现金于低收益工具如定期存款也会让人变得贫穷。这使到拥有着不敢使用金钱因为恐怕金钱会无以为继。把金钱放入某些保证收入的工具将有所助益。
So, the poor and the rich could face similar problems. Releasing cash to generate cash flow is something like buying a house to collect rental income. Cash in FD is nice to see. Regular rental income will let one better plan his life and spending.	或富或穷都会面对同样问题。分配部分金钱来促进现金流就如买了屋子收租一样。定期存款开起来很爽，但稳定租金收入让人更好规划人生以及花费，不是吗？
But buying a house requires some skills and capital. Strategic locations that can fetch good rental could be selling at a premium price now. Thus the rental yield may not look so attractive.	话虽如此，买楼终究需要一些技巧及资金。策略性地点确是可以收到更好的租金但房价可能处于高位。租金收益率就变得不是很高了。
Financial products such as endowment plans and annuity scheme can serve as alternatives. Most of them gives annual guaranteed payment, some monthly.	储蓄保险计划以及年金计划这类的保险产品就成了替代产品。它们多有提供保证式固定年度派款，有些甚至于是每月派款。
Free of choices	选择多元化
Financial planning firm, like Phillip Wealth Planners, worked with many local and offshore insurance companies to provide such products.	理财公司如Phillip Wealth Planners与多家本地以及离岸保险公司提供这类产品。
Once we understand clients' needs, we will look for the products that can match. We can provide in different currencies, premium payment years, annuity payment term and amount etc.	当我们了解顾客的需要后，我们才来寻找适合的产品来匹配。我们可以匹配不同货币，不同付款期限，不同派款期限与款额等等等。
Now one might not only depends on local currency to retire. Their children could be living in Australia or US or UK. Having some cash flow in USD / EUR will certainly be helpful.	一位顾客可能不仅靠本国货币来退休。他们的子女可能住在澳洲、美国或英国。拥有当国货币将会挺管用的。
In terms of premium payment term, it can be 5, 6, 10, 15 years or even a lump sum payment. Payout can start as soon as a year later or 5, 10 years later.	付款期限可以是五、六、10或15年.甚至于单笔付款。派款期限可以是下一年或5年、10年后。
Conclusion	选择多元化
Most importantly, we want clients to feel at ease once a part of their future income will be delivered to their doorstep at the desired time, regardless of market situation.	我们要让顾客放心，就是无论经济市场是否刮风下雨，他所需要的收入将准时送达。
You are welcomed to discuss by sending email to sateo7689@yahoo.com	欢迎电邮至sateo7689@yahoo.com赐教。

104 Stacked Term Insurance

Stacked Term Insurance	重叠式定期保险
While surfing internet one day, I stumbled upon this 'stacked term insurance' idea. Upon reading, I find it very interesting. It claims that the client will save on the premium while be able to channel the excess to investment. So, I decided to try and see if it is true.	某天上网时看到“重叠式定期保险”的做法。读了一读发觉还挺有趣的。该网站认为如此做可以节省保费，从而把多余的钱拿去投资。所以我也想看看是否如此。
What is 'stacked term insurance'?	何为“重叠式定期保险”？
Term insurance is the cheapest insurance where it does not participate in the returns of the investment. This way, the client pays the cheapest rate. It is actually the most efficient insurance.	定期保险是为最便宜的保险因为它无需承担投资回酬。顾客因此只需付低廉的保费。它算是最有效的保险。
Stacked Term Insurance works in the way of overlapping more term insurance at beginning of coverage than the end period, so as to gradually reduced the coverage	“重叠式定期保险”就是以重叠几份定期保单的方式来达到保障随时间逐步递减。
A client may have a need for insurance but the need may reduced with passing of time. Mortgage Reducing Term Assurance (MRTA) is the best example of such insurance.	某顾客有需要保障但保障随时间递减。递减式房贷保险是其中的代表。
Say we have a client age 35, male, non smoker, Class 1 occupation, needs a coverage of RM2 million for a 20 years housing loan. The premium for this MRTA is RM6,486.50 per annum.	我们假设有某顾客35岁，男性，非吸烟者，一级工作，需要为两百万元的屋子为期廿年的保障。这样的递减式房贷保险需RM6,486.50年保费。
Now let's try repackage it using level term insurance. The premium for it shall be RM6,866.50 p.a.	让我们尝试规划成平行定期保险。年保费需RM6,866.50。
But in this way, it works more like Mortgage Level Term Assurance (MLTA). Client's coverage stays the same for the whole tenure.	但如此一来，这就成了定额式房贷保险。保障将维持一样。
Let's modify a bit, by doing stacking. RM500K x 20 years RM500K x 15 years RM500K x 10 years RM500K x 5 years	我们再修改成重叠式保障。 RM500K x 20 年 RM500K x 15 年 RM500K x 10 年 RM500K x 5 年
By doing that way, client's coverage will reduce every 5 years. Let's see how much is his premium.	如此一来，保障将每五年递减。让我们来看看保费变化。
RM500K x 20 years : RM2,101.50 RM500K x 15 years : RM1,696.50 RM500K x 10 years : RM1,426.50 RM500K x 5 years   : RM1,291.50	RM500K x 20 年 : RM2,101.50 RM500K x 15 年 : RM1,696.50 RM500K x 10 年 : RM1,426.50 RM500K x 5 年 : RM1,291.50
Total Year 1 ~ 5 : RM6,516.00 Year 6 ~ 10 : RM5,224.50 Year 11 ~ 15 : RM3,798.00 Year 16 ~ 20 :  RM2,101.50	总计 年 1 ~ 5 : RM6,516.00 年 6 ~ 10 : RM5,224.50 年 11 ~ 15 : RM3,798.00 年 16 ~ 20 :  RM2,101.50
So by using stacked term insurance, instead of paying MRTA of RM6,866.50 p.a. for the next 20 years, the client can save more and more money as the years go by.	相比起廿年递减式房贷保险需年保费RM6,866.50，使用重叠式定期保险使顾客随时间推移省下更多钱。
The client can invest more money since his premium will be lower and lower. Eventually, MRTA and stacked term insurance will not give him any cash value. But if he can be disciplined to invest the extra savings, from premium difference, he can have some more money in the investment vehicle.	顾客将可以因保费越来越少而投资更多的钱。最终，不管是递减式房贷保险抑或是重叠式定期保险都没有任何现金值。若是他可以把保费差额另外做投资的话，他的投资户头将有更多钱。
This is a very interesting finding. This is not only applicable to housing loan issue. It can be applied to any person who might want more protection at earlier day than when he is older.	这的确相当有趣。这样的保险并不限于房贷，也有可能适合需要初期保障高于后期保障的人士。
If you want to know more, you may email to sateo7689@yahoo.com	若是您有任何指教，请电邮至sateo7689@yahoo.com。

103 Do you want to be an executor and trustee?

DO YOU WANT TO BE AN EXECUTOR AND TRUSTEE?	你要成为财产执行人与托管人吗？
Regarding the case of my client who passed away end last year, I am now deeply sympathize with his wife. He left behind his wife and two very young children. Luckily, he had written a Will to bequeath his assets to them.	对于一位去年尾过世的一位顾客，我深深的同情遗孀。他留下太太跟两个很小的孩子。还好他立好遗嘱把财产留给她们。
She engaged a lawyer to apply for Grant of Probate (GP). After 3 months of hard work, she finally got the GP. The lawyer told her to start collecting assets from banks, investment companies etc.	为妻的聘用律师申请遗嘱认证。经过3个月的折腾，终于领到手了。律师吩咐可以开始去银行、投资公司等收集财产。
I sympathize her because she had a problem now - the Will named 3 persons as joint Executors and Trustees. The 3 persons are her goodself, late husband's sister in law and the Will writer (an outsider). This means these 3 persons has to open a joint account to collect movable assets, to receive immovable assets in 3 names, to go to various places to collect assets, and to manage the relevant portions of assets until the children attain specified age qualified to receive them.	我同情她是因为现在她面对一个问题，就是遗嘱委任3个人执行人，她们是妻子、先生的嫂子以及缮写遗嘱的代理员(外人)。这表示三个人必须三人行，一起去银行开联名户头以收取流动资产，以联名方式收取不动产，一起去不同地方收集资产，并一起管理资产直到小孩可以领取资产的岁数。
She is very upset because her sister's in law has no time to run around to do those things. Seems like the agent also did not follow her to do the GP application and other tasks. She complains that after 3 months of works, she still can't receive the assets smoothly. Now she has to gather 3 persons to do things together.	她很烦恼因为她的嫂子没有时间跟着跑上跑下处理这些事物。看起来，还代理员也没有陪着处理申请遗嘱认证以及其他事宜。她投诉说经过3个月的等待仍然不能顺利的收到财产。现在反而需要聚集3个人做事。
This is a big reminder to me - never complicate client's Will. I am also seriously thinking should clients choose trustee company as Executor and Trustee. The very reason client doesn't do so is simply because of cost. By looking at the ordeals the survivors has to deal with, is the money saved worth it?	这对我是当头棒喝，千千万万不要搞砸顾客的遗嘱。我甚至思想顾客是否应该聘用信托公司来成为资产执行人和信托人。顾客不愿如此做的最主要原因皆因要省钱。但看到遗孀的辛苦，那些钱是否该省呢？
In this case, the wife has to take care of the family singlehandedly. She is a foreigner, young, not working, has to take care of 2 young children and maybe worried about her future. To be able to claim her late husband's assets smoothly and promptly should be a big relief. She has to focus on her family's future.	这个个案中，妻子得独自撑起整个家。她是外籍人士、年轻、无业、要照顾两个小孩而且可能正担心未来的生活。对于她来讲，能顺利的索取遗产将是放下心头大石。她就可以专注于未来。
What can be done better?	如果改进？
IMHO, the Will is poorly done. Let's look at what can be done better.	愚见认为，该份遗嘱规划得不够完善。我们一起来看看如何可以做得更好。
Executors and Trustees	执行人和信托人
Testator (person who made a Will) has to choose, carefully, the Executors and Trustees by looking at their relationship, capability and willingness. It is not enough just to choose a person he trusts.	立遗嘱者应该仔细选择执行人和托管人，这包括关系, 能力和意愿。单单凭信任而选择一个人是不够的。。
Relationship refers to how close the named Executors and Trustees and the rest of family members. It feels weird if an outsider is named as such unless he is of such high prestige like a lawyer or trustee company. Testator has to take note all assets will be transferred to Executors, hold on trust by Trustee for minors, before transferring to ultimate beneficiaries. Along the way, many discussions could be hold to settle minor minor issues. So, he must has utmost faith the Executors and Trustees will perform honestly and faithfully, and interact freely with all family members.	关系是指执行人和信托人与家人之间有多亲近。如果是一个外人来成为信托人，感觉会很奇怪。除非它是信誉良好的律师行或信托公司。立遗嘱者当晓得全部财产将转到执行人名下，由信托人代表托管未足龄受益人的份，才会转到受益人名下。这段期间可能会有很多的小会议来解决细节问题。所以，立遗嘱者要绝对相信执行人和托管人的诚信，并有能力与家人沟通。
Capability refers to many skills required to communicate, negotiate, call in assets, pay off debts & taxes, do accounting and ultimate transferred of assets etc. This may involve getting info and filling up forms of various private institutions and government departments. So, proficiency in languages are needed.	能力是指一些沟通、协商、收集财产，付还债务及税务、做帐和最终转移资产给受益人时的所有事物。当中可能包括收集资料、填写银行及政府部门的各类表格。所以，也需要语言能力。
Willingness refers to the willingness of named persons to spend time and efforts to go to different private institutions and government departments. Be prepared one task may require multiple visits probably due to incomplete documents or any unforeseen situations. Almost all activities need to be done during office hour.	意愿是指个人是否愿意花时间去各个公司和政府部门。一件事物可能需要多次往返，因为一定会出现文件不足之类的突发状况。而且多数事物要在办公时间处理。
In this case, how can he be sure of all those criteria can be met? Apparently, he has to brief his wife, his sister in law and will writer that 3 of them shall act in togetherness, the jobs and duties, the possible inconvenience going to cause, and getting their consent.	个案中，他如何才能确保全部做得到？他只好告诉妻子、嫂子和代理员全部3人必须一起行事、工作的职责范围、其中的不便，并得到他们同意。
If testator can't find a suitable person or he wish to spare his family of the all the tedious works, he can always appoints a corporate trustee company as his Executor and Trustee. Corporate trustee company will be able to act professionally and independently to discharge their duties. This is because they are paid, they have resources, and they know the procedures well.	若是他不能找到合适的人抑或他不想家里人为此而烦，他可以选信托公司来成为执行人和信托人。信托公司能够专业的和独立的执行任务。因为他们是收费服务的，有足够的支援以及熟悉当中的所有程序。
Beneficiaries	受益人
A married testator may and should rightly bequeath his assets to his family members. He has to consider whether to include his minor children in. Minors cannot receive the assets until attaining the age of majority (18 or 21). During this period, his shares will be held by trustee. He may not want to include minors beneficiaries because his wife may need all resources to feed the whole family. If she is out of resources, she may have to look for job.	已婚立遗嘱者可以也应该把财产馈赠给家人。他也应当考虑是否要馈赠给未成年子女。因那段期间，他们的份会由信托人掌管。若是妻子必须用到全部财产来维持家庭开销，可能不牵涉未成年子女会比较好。若是资源不足，妻子可能就得另寻工作了。
For immovable assets like houses and lands, it is not practical to include minors. The properties will not be able to be sold before all children reach age of majority.	对于不动产去房子和地产，分配给孩子也显得有点儿不切实际。因为那些产业在子女成年前都不能出售。
Testamentary Trust	遗嘱信托
Testator should have set up a testamentary trust if he wishes to named minor as beneficiaries. Like said before, minors can receive their portion once they reach age of majority. Testator has to think can a young chap be able to manage large sum of money. Most of time we are worried they may be influenced by peers to spend the money unwisely.	立遗嘱者理应在决定加入未成年子女的份额后设计遗嘱信托。如前所述，他们会在成年后得到资产。立遗嘱者是否愿意让一个少年人管理一大笔钱。很多时候我们会担心他们容易被损友误导而乱花钱。
By setting up a testamentary trust, testator control what age his children can receive the money. Their portion will be hold on trust by trustee. Before reaching determined age, they can access the money for daily, education and medical expenses.	通过设计资产信托，立遗嘱者可以决定几岁才可以领取资产。在达到该年龄前，他们只能领钱作为日常、教育以及医疗费用。
Ending	结尾
I know many people are still ignorant of estate planning issues. Many do not know what to do when family member passed on. I will meet an experienced lawyer in this area. Hopefully, we can work together to help more people.	我知道有很多人对于遗产规划还是一知半解。很多人遇到家人离世也是茫无头绪。我将会约见一位这方面的资深律师。希望将来我们可以帮助更多人。
If you have enquiries or feedback, pls email to me at sateo7689@yahoo.com	如果您有询问或赐教，请电邮至sateo7689@yahoo.com。
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102 Phillip Futures Seminar

Phillip Futures Seminar	辉立期货讲座会
The Secret of Top Traders: How to Choose the Correct Trading Strategy	顶级交易员的秘诀:如何选择恰当的交易策略
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101 Standalone Medical Card Funding beyond retirement

Standalone Medical Card Funding beyond retirement	退休后，单买医药卡的资金
Many clients, especially the resource scarce young single and family, tend to buy medical card as a standalone product. The main concern is premium, and payment frequency.	有很多客户倾向于单买医药卡，尤其是资源有限的单身男女和新生家庭。他们最在意是保费以及还款次数。
They feel the premium is higher and monthly payment is stressful if they go for investment-linked policy (ILP).	他们觉得若是购买投资连接保单，保费会比较高，而且每月要付保费会很压力。
It's actually a myth that medical card is cheaper here than the other. What the clients feel is the amount coming out of his pocket.	其实这个医药卡比那个便宜的认知是迷思来的。客户只是感受到从皮包拿出来的数目罢了。
The premium of standalone medical card can be even lower if bought from a general insurance company. The difference of premium between life and general insurance can be as high as 50%.	老实说，普通险(俗称杂险)公司的单卖医药卡的保费会更低。人寿、普通险两者的差别可能高达5成。
In either case, the premium at the beginning is indeed lower. But once touching age of above 60, the premium is scary. We could be talking about annual premium of more than RM4000 to RM10000.	着两者的共同点都是初期保费较便宜。但当年龄一触及60岁以上，保费会挺吓人。每年的保费可能高达4千到1万元。
As we get older, the tendency to use the medical card becomes even greater. Can we afford future medical expenses without a medical card? If we want to continue paying, we might think of how many years we can afford too. If we don't, what should we do if something strikes?	当我们年纪越来越大，使用医药卡的机率应该越高。没有医药卡，我们是否能负担昂贵的医药费？就算我们想继续交保，我们能负担多少年？若不，要是发生什么事时，我们该怎么办？
Let's think of a way. How about if we set up an extra fund for our old age medical card premium? The purpose is twofold here. If we decide to continue paying, this extra fund let us to. And if we don't, we have extra money to self insured ourselves. How does it sound?	让我们来想个办法。何不设立一个为未来保费储蓄的基金呢？可以有两个目的。若是我们想继续交保，这笔钱就派上用场。若不，我们有多余的钱自己保障自己。好吗？
To plan the extra fund, we can calculate the total premium beyond our working years. Of course, we can only calculate based on premium table available now. If needed, add an inflation rate to the calculation.	要准备这笔钱，我们可以计算退休后所需的总保费。我们只能以现有的保费表来计算。若是要稳当点，可以把通胀计算在内。
If we need to have RM100000 after 15 years, we only need to invest RM290 monthly in a instrument that can give 8% annual return. Simple?	如果我们在15年后需要马币10万，我们只需只需选择一个8%回酬的工具，每月投资马币290即可。简单吧？
Then come how can we create the fund? The simplest way is to start a separate regular saving plan using unit trust (UT) or private retirement scheme (PRS).	那我们该如何创立这个基金呢？最最简单的莫过于每月投资于信托基金或私人退休基金。
By properly select a combination of UT or PRS funds with proven track record, we can do it. To know their performance, we can refer to Lipper, MorningStar or Novagni rating published in websites, magazines or newspapers.	只要细心挑选记录良好的信托基金或私人退休基金即可。我们可参考登在网站、杂志或报纸的Lipper，MorningStar，Novagni评级。
There are only 8 providers of PRS funds, and all of them are selected after stringent scrutiny by Securities Commission (SC). On top of that, the design of default funds are fixed by SC too. So we should be safe to choose any of them.	市场上共有8家私人退休基金供应商。全部都是经过证券委员会严格挑选，且这类基金的设计也是由证券委员会操刀。所以我们应该放心挑选。
In terms of UT funds, there are few hundreds in the market. Consumers are spoilt for choices. Maybe we can use a simple & lazy strategy - pick only EPF approved funds. EPF will scrutinized all funds every year and publish a list of approved funds. Funds don't meet its requirements will be shown the door.	在信托基金这方面，市面上不下两三百个。真是让人眼花缭乱。也许我们可以用简单方便的方法，就是只选公积金批准的基金。公积金每年都要评估基金一次，并把符合资格的基金列出来。不符合资格的都被踢掉。
So I think consumer has better chance by following these two groups of funds which are under tight surveillance. Agree?	所以我觉得消费者若从这两类基金里挑选的话，胜算应该很高。对吧？
One might wonder why I suggest PRS. Isn't PRS designed for retirement purpose? Well, there is a critical reason here.	有人可能怀疑为何我会提私人退休基金。难道它不是为退休而设计的吗？这其中有个大道理。
In my many years of experience, I noticed clients tends to withdraw money when the withdrawal is relatively easy and cheap. Imagine this. In time of emergency, which money will we take out first - savings accounts with ATM card or a fixed deposit account? Mostly it will be the former.	根据多年经验，客户多数会选择容易提款以及较低费用的管道提出款项。试想在紧急状况时，我们会从附有提款卡的储蓄户头抑或是定期存款提款呢？应该是前者吧。
Why? The former is convenient and doesn't cause much impact on interest earn. The latter requires us to go to the bank and we might think of the interest lost if the FD has not matured.	为何如此？前者很方便又不会对利息造成影响。后者要劳烦我们去银行，而且我们又会考虑到未满期利息损失。
Likewise, redemption of UT is more convenient and cheaper than a PRS. UT withdrawal normally won't be charged. As compared, only 30% of money invested in PRS can be withdrawn, and it is further taxed at 8%.	同样的，信托基金的提款会比较简易且便宜。一般可以说是没有费用。相比起来，私人退休基金里的钱只有30%可以提出，而且还必须抽税8%。
Therefore, using PRS will ensure our money will be locked until retirement.	因此，使用私人退休基金可以确保我们的钱会锁死到退休。
I hope whoever bought standalone medical card will think of the funding after retirement. Normally, we would say we try not to depend on our children to support us. So, the younger us has to be responsible to the older us.	希望凡是购买单买医药卡的人士们可以好好的思退休后的医药卡费用。一般上，我们都说尽量不要依靠子女来养我们。那年轻的我们就得为年老的我们负责。
Pls email to sate07689@yahoo.com if you have any equiries.	若是您有任何询问，请电邮至sateo7689@yahoo.com。

100 FPAM JB Chapter is coming!

FPAM JB Chapter	FPAM新山分会
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Last Friday (18/3/2016), CFP holders in JB had a FPAM Networking Night cum discussion of setting up of its JB Chapter. FPAM CEO Linnet Lee and Board Member Nicholas Chu were here to meet us.	上个星期五（2016/03/18），我们这些新山区的CFP会员参加了FPAM的交流见面会兼商讨设计新山分会的会议。FPAM的CEO Linnet Lee以及Board Member Nicholas Chu一同来与新山的CFP会员见面。
Both of them gave us updates of the development of the industry, the challenges and opportunities of being a financial planner. There is a huge potential in this industry.	他们两位讲述了整个理财行业的发展，理财师的挑战以及机会。很明显的，这是很有潜能的行业。
During the discussion, many issues were brought up by attendees and the main is related to lack of CPE courses in JB, and also the costs to attend one in KL.	在交流阶段，有几个课题被提起，而最被问及的课题当属新山区没有CPE课程以及去吉隆坡上课的高费用。
To the issues, Linnet explained FPAM stressed on quality of lecturer and course content, and thus the higher course fee. Anyway, to solve the issues, a JB Chapter is needed to organize courses locally at lower cost.	对于这个课题，Linnet解释因为FPAM坚持讲员以及课程的素质的关系，费用会稍微偏高。无论如何，为了解决问题，设计新山分会来安排课程以及降低费用是刻不容缓的。
We are glad twelve CFP holders volunteered to be the protemp committee members to kick start the set up of JB Chapter. They will be cooperating with Secretariat to officially form the Chapter.	我们很高兴看到12位CFP持有人愿意自愿成为新山分会的初批理事。他们将与秘书处紧密合作来正式设立分会。
To me, I have been looking forward to such day for a long time. Finally, we have opportunity to gather and meet other CFP holders. There are so many of us but we never get to meet.	对我而言，我一直期待着这么一天。我们终于有机会跟其他的CFP会员见面交流。新山区有很多会员但从没见过面。
Of course, I will be looking forward to the upcoming CPE courses. All the while, we had to travel to KL or Malacca to attend one, and it's quite costly and time consuming. Hopefully, we will have many great teachers to share and guide.	我也很期待往后的CPE课程。一直以来，我们必须舟车劳顿往吉隆坡或马六甲参加课程。很期待会有更多很棒的老师来授课与分享。
Then I hope this Chapter will greatly motivates public to take up CFP course and financial planner as a career. One of the Chapter's work is to educate public on financial planning. Once more and more people aware of it, the demand will be high.	我也期盼这个分会能够大大的激励民众来研读CFP课程、来成为理财师。分会的其中一项任务就是教育民众关于理财。相信随着越来越多了解理财的重要性，这一方面的需求必定会更高。
Lastly, I hope this will be a great platform where planners can meet and share experiences. The experiences from the seniors and experts will greatly benefit us and the industry as a whole.	最后，我希望这里将成为理财师见面交流的平台。前辈们和专家们的经验是对我们这些后辈而言，是非常非常宝贵的。
Though I am not in the committee, if you any questions on the Chapter, upcoming CPE course or CFP course, you are welcome to email me at sateo7689@yahoo.com.	虽然我不是理事会的成员，但如果您有关于分会、CPE课程或CFP课程方面的课题，欢迎您电邮至sateo7689@yahoo.com。

099 eUnitTrust - theEdge / Thomson Reuters Lipper Fund Malaysia Awards 2016

eUnitTrust - theEdge / Thomson Reuters Lipper Fund Malaysia Awards 2016	eUnitTrust - theEdge / Thomson Reuters Lipper Fund Malaysia Awards 2016
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