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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098 Tax relief for 2015

Tax relief for 2015	2015年税务减免税项
It's tax season of the year again. We will be returning our tax filing. When we do it for 2015, we should be able to know our tax for 2016. Let's look at tax relief for 2015.	又到了报税的季节了。我们又要呈报我们的税务。当我们呈报2015年的同时，我们也估计得到2016年该还的税务。让我们来看看2015年的减免税务吧。
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Besides the special relief in item 18, all the other relieves are applicable to 2016 as well. Of them all, the most under utilized relief could be Private Retirement Scheme (PRS) and Annuity Scheme listed under item 16.	除了第18项的税务减免之外，其他都属2016年也适用的减免。这其中可能还较少人索取的是第16项的私人退休基金与年金计划。
PRS and Annuity relief are applicable in between year 2012-2021, ie a total of 10 years. There are 8 providers of PRS products, while Annuity is launched by insurance company.	私人退休基金与年金计划的减免适用于2012年至2021年，即为期10年。目前被批准的私人退休基金公司共有8间，而年金计划一般由保险公司推出。
Pls remember when you are increasing your income while trying very hard to decrease your expenses, saving taxes the correct way is a wise way to retain your income. As resources is limited, it make sense to maximise your resources.	谨记在您增加收入又尽量减少开支的同时，如何正确节省税务也是留住收入的方法。因为您拥有的资源是有限的，如何让您的资源最大化是明智的。
If you have not claim this relief, or you are wondering how much it can save you, pls email sateo7689@yahoo.com for a free review.	若是您在这之前仍然未索取这项减免，抑或好奇这项减免能为您省下多少税务，欢迎您电邮sateo7689@yahoo.com安排免费咨询。

097 Looking for higher yield for SGD currency

Low SGD fixed deposit rate	新币定期存款利率低
It's a known fact FD rate in Singapore is low. Compared to Malaysia where FD rates are above 3%, it's somewhere above 1% only over the other side of causeway. Below is a snapshot of FD rate captured from iMoney Singapore.	新加坡的定期利率偏低是众所周知的。相比马来西亚的3%以上的利率，对岸的利率只是区区的1%上下。以下是从iMoney Singapore网站截下的定期利率的其中一段。
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The highest rate of 1.25% is offered by CIMB Bank Singapore. Some more it's a promotional rate. The highest before this is 0.63% only. That's real low from a Malaysian perspective though.	图表显示新加坡联昌银行给予1.25%的利率，而且是促销性质。比这下一级的最高纪录只是0.63%罢了。依马来西亚的眼光来看，真的很低。
The solution	解决方案
If you have idle SGD on hand, not going to use it for the next couple of years, may I suggest you to really look for this SGD endowment plan offered by Archipelago Life Insurance.	如果您有多余的新币在手，即接下来两三年都不会用到，那不妨考虑Archipelago Life Insurance推出的新币储蓄保单。
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Archipelago is offering, for the first time outside their usual USD endowment plan, this SGD endowment plan due to high demand from Southern region. This plan best suited whoever has SGD on hand. I think it's unwise to exchange MYR to SGD to participate in the plan.	这是Archipelago在它们的美元储蓄保单之外，首次推出新元储蓄保单。这个产品是为应允南部顾客有需求。这样的产品最适合手上已经有新元的顾客。我想现在若要把马币换成新元来储蓄的话，似乎很不明智。
What this plan offers is a 8% fixed maturity returns at the end of 24 months locked in period. This translate to compounded interest of 3.92% per annum. And this is some double or triple of normal FD rate.	这保单将在24个月的锁定期满期后给予顾客8%的满期利益。换算回来，这等于3.92%的复合利率。这样的利率相等于市面利率的一至二倍。
The calculation: Capital: SGD28000 Interest: 8% (2 years total) Maturity Value: 28000 * 1.08 = 30240 Using a financial calculator: PV: -28000 FV: 30240 n: 2 i = 3.92%	计算方式： 本金：新元28000 利息：8%两年总计 满期值：30240 使用财务计算机 PV: -28000 FV: 30240 n: 2 i = 3.92%
Since this is an endowment plan or insurance policy, there will be penalty if the insured decided to surrender the policy prematurely. And the penalty is very high.	既然这是储蓄保单，如果投保者提前退出的话，那他将被罚款。而且罚款额挺高的。
When you should consider	何时该考虑
- You have SGD on hand. - You don't use it in the next 2 years. - You are a conservative investor who wants secured returns. - You want to prepare for future use (retirement / children education)	- 您已经有新元在手。 - 您在接下来两年不会用到该笔钱。 - 您是保守型投资者，只要固定回酬。 - 您想为将来（退休/孩子教育费）做预备。
Note Archipelago has a USD endowment plan which is entering its series 12. With 3 months a series, this means it has entered into its 3rd years. The first few series has matured.	注 Archipelago亦有美元储蓄保单，目前已进入系列12。以每三个月一个系列计，此产品代表已进入第3年。前几个系列亦已满期赎回。
Archipelago SGD Endowment Plan - http://www.archipelagolife.com/endowment-sigma-series-1/ Archipelago USD Endowment Plan - http://www.archipelagolife.com/the-archipelago-endowment-alpha-series-12/	Archipelago新元储蓄保单-http://www.archipelagolife.com/endowment-sigma-series-1/ Archipelago美元储蓄保单- http://www.archipelagolife.com/the-archipelago-endowment-alpha-series-12/
For any enquiry, pls email to sateo7689@yahoo.com.	任何询问请电邮至sateo7689@yahoo.com。

096 The Edge Thomson Reuters Lipper Awards 2016

It's Official	尘埃落定
It's the most exciting moment of the year, for both the fund house and unit trust agents alike. We are eager to see how did the funds performed last year. Are they being recognized, by professional body, to be the best of the best?	对于基金公司抑或代理员而言，这是年度盛事。大家都同样想知道基金去年的表现如何。它们是否在专业评审的面前被嘉奖为优人一等的基金呢？
Fund houses hope their efforts are being recognized. Agents hope their recommended funds are up to mark to assist clients to achieve financial goals. Below are the winners of The Edge Thomson Reuters Lipper Award.	基金公司期盼他们的努力被肯定。代理员期盼他们推荐的基金的的确确是能帮助顾客完成理财计划。这一以下就是The Edge Thomson Reuters Lipper奖的得主。
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095 Inland Revenue Dept CP500

Inland Revenue Dept CP500	内陆税收局 CP500
When I was taking my CFP module Tax Planning, lectures told us Inland Revenue Dept will randomly picked some taxpayers for audit. Since it is randomly picked, it doesn't mean fault for the "lucky" one. Anyway, it doesn't feel good to get picked.	在我还在修读CFP课程税务规划这个单元时，讲师说内陆税收局会每年抽样检查纳税人的税务呈报单。因是抽样被选，“幸运”被抽中的人并不代表犯错了。但收到内陆税收局的信的心情还是很不安的。
It was 3 weeks before Chinese New Year, somewhere middle of January, I got a letter from Inland Revenue. Did I overpay last year? It's my refund? I opened it with unease.	就在今年新年前的两三个星期，即约一月中旬，我就收到税收局的信。我想难道去年的税还多了，现在有退税？于是带着忐忑的心情打开。
Oh, Inland Revenue wants me to submit the original copy of tax declaration form together with all the supporting receipts. No problem to me since I have all of them. So, I reorganize them, prepared a cover letter listing all the documents, then passed to Inland Revenue. They told me I can call them on the progress. Call them? Forget it.	噢，税收局要我呈上2015年的报税表格以及所有单据，全部都要正本。这倒没什么难得，我全都有，而且我也呈报有单据的减免。于是，我稍微整理了一下，再拟了一封信列明资料清单就交到税收局。税收局说任何后续会有信件通知，若是等得急了可以去电询问。去电？我想还是免了罢。
Chinese New Year came and passed. No news from IRD. I am innocent I think. Well well, there it comes in near month end of February. A long long letter in A4 paper. Looked like assessment form, but since I do e-filing, it couldn't be. What is it?	新年来了又过了。税收局无消无息。我想应该是无罪了吧。哈哈，就在二月下旬，来了。长长的像A4纸的信。让人以为是税务呈报表格，只是我是网上报税，所以不应收到税务呈报表了的。是什么呢？
Let me see, it's the so called form CP500, that is a schedular tax payment estimated by IRD. It's similar to employees Monthly Tax Deduction (PCB). It seems like IRD has reviewed my formsforms, and come out with a 6 bi-monthly payment scheme.	打开一看，原来是所谓的CP500表格，既是按期缴交当局预测的税务。就有如雇员的每月税务扣账(PCB/MTD)。看来税收局应该是看过了我的表格，于是拟定六期，即每两个月一期的分期税。
First payment is on 1st of March, the last is 1st January next year. Each payment date has 30 days grace period. Additional fine if late.	第一期是三月一号，最后一期是明年的一月一号。每期的税务需在以上日期算起的30天内缴付。逾期另外罚款。
I asked my fellow planners. They have paid that for many many years. The thing is we belongs to commission based taxpayers, so IRB user this method to collect our tax. To think of it, it's quite good a system too. A whole year tax is being split into 6 smaller payments, saving us the pain of paying 1 big sum when due.	我问了问身边的其他理财员，原来有些已经如此缴交了很多年呢。最主要的是，我们属佣金制纳税人，所以当局是以这种方式让我们分期付税。其实也挺好的呢，因为一年的税务均分六期，可免一年一度报税期单笔付税的“心痛”。
So all I have to do is pay on time. Just that need to wait until commission paid. That's it. Then something crop up the day before. My laptop was stolen. The CP500 is inside. Looked like I have to pay IRD a visit.	看来还钱就对了。只是要等拿到佣金过后。事就如此定了。就在前天发生了一段插曲。我的手提电脑被偷了。那个CP500表格偏就在电脑袋里面。看来得跑一趟内陆税收局了。
Today when I open my mailbox, their is a reminder email from IRD informing they have sent out CP500 to me. And in the email, dates and amount payable are stated. Looked like IRD is getting more and more efficient.	今天星期天打开邮箱。内里有一封税收局提醒当局已经寄出CP500的表格，也一并列明我的付税日期及款额。哈，如此我就无需特地去税收局了。看来税收局的效率越来越好了。
As taxpayers, we must declare our tax diligently. Let's only claim what's entitled. Wrong declaration will be punished severely.	身为纳税人，我们需精明的报税。我们应该只索取符合资格的税务回扣。刻意误报税务的惩罚会得不偿失。
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094 Planning Education Fund through USD plans

教育不能等	Education can't wait/b>
图中的小妹妹很可爱是吗？试想她是您的宝贝女儿。您要她永远最好的，包括教育。从小您送她去补习，您要她学习。当时间来临是她上大学时，她的教育费是否已经就位了呢？	Cute isn't it the girl in the picture? Imagine it's your girl. You want her to have the best, including education. Since young, you sent her to tuition, you want her to learn. When the time has come for her tertiary education, is her education fund in place?
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大部分父母想送孩子出国留学。但不是全部入负担得起。庆幸的是我们有政府和私人界来的贷款或赞助供选择。我们只是不确定是否能成功申请。	Almost all parents want to send their children for overseas study. But not many can afford to. The lucky things are we have loans and sponsorship from government and private sectors. The uncertain part is whether we can secure one.
因此，身为父母还是未雨绸缪事先另外为孩子准备教育费为妙。如果孩子12~20年后才要经费，那父母有15~20年时间累及该笔数目。	So, it's best for parents to start separate education funds for their children. If the children will need the fund in 15~20 years, it means parents have 15~20 years to accumulate that sum.
以下是由Investor Trust SPC准备的一张图表。是用来教育民众关于提早准备的重要性。	Below is a guide prepared by Investors Trust SPC, to educate the public on the importance of early planning.
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89%的美国父母同意教育是给孩子们的未来的投资。许多人也同意为教育费做准备也是一项挑战来的。有些人甚至倾向延迟孩子的教育，而40%的家庭为教育费而申请贷款。	89% of US parents agree education is an investment for their kids' future. Many also agree it is a challenge to prepare for it. Some tends to delay children education, while 40% of families took loans to pay for education.
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我们也看到少过一般的家庭确立计划来储蓄教育费。相比不做的，真正如此做的可以储蓄到更多的经费。因此，没有计划就等于在海中漂流。	We also see although less than half of families instituted a plan to save for education fund. The reward for that higher savings as compared to who didn't. So, without a plan is similar to drifting in the sea.
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我手中没有马来西亚的相关数据，只是依据差不多每年都发生的申请JPA或PTPTN贷款的事件，马来西亚的父母确实也重视孩子们的教育，只不过没有妥善准备吧。	I don't have the figure for Malaysia but judging from the almost annual affair parents appealing for JPA or PTPTN loans, safe to say all parents in Malaysia also placed high importance to education but are ill-prepared for it.
话说回来，也不能怪任何人。马来西亚还是发展中国家。人民还处在为养家糊口而打拼的情况。无论如何，我知道有父母仍然在有限的资源当中尽力为孩子储蓄。确实让人敬佩。	However, we can't blame anybody on that part. Malaysia is still a developing country where people are still struggling for living. Still, I know many parents do still try to squeezed out something for their children. A respect for them.
让我们来看看在美国读书需要多少钱。4年期的私人学院要13.4万美元（58.9万马币），18年后涨至32.4万美元（1.43百万马币）。	Let's see how much one should prepare to go to study in US. A 4-year private college cost USD134K (MYR589K), and grow to USD324K (MYR1.43M) in 18 years time.
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两者都是乍舌的数目对吗？尤其是父母的存款以马币为主而又必须一次过转换成美元。万一遇上兑换率不理想，压力就很大了。	Both are stunning figures, aren't they? Especially true if the parents have been savings in MYR and had to exchange to USD in one go. This creates pressures when the exchange rate is unfavourable.
所以，现在建议每月定期储蓄美元。这样，兑换率就可以在整个期限中平均掉。而当中的投资部分可以为储蓄增值。	So, the idea now is to save directly in USD through monthly savings. In this manner, the exchange rate can be spread out throughout the whole period. And the investment part will increase the value of the savings.
让我们使用以上的数字来看看一对父母该存多少钱。我们需要用到财务计算机(实体或应用程序)。	Let's use the above figures and see how much should a parents save. We will need a financial calculator (physical / app).
例子: 总数，FV:32.4万美元 总期数 ，n:180月(15年) 回酬，i:5%年利 每月，PMT:1212美元	Example:- Total Sum, FV: USD 324K Total Years, n: 15 Years (180 months) Interest Rate, i: 5% p.a. Monthly, PMT: USD 1,212
如此，我们知道每月需交1212美元。此时父母亲得回顾他们的资源并决定他们能够负担多少。需谨记少好过无。	Now, we see USD1,212 monthly is needed. The parents must review their resources and decide how much they can put. Start with a smaller figure is better than not starting at all.
他们也可以选择不单单存美元，也可考虑欧元、马币或英镑。	He may not want to save all in USD, some he may want to be in EUR or MYR or GBP.
在这之前，本土并没有美元保险计划。一直到马来西亚把纳闵规划成离岸金融中心，吸引国际保险公司在纳闵设计分行。Investor Trust既是其中一间，也在辉立资本的平台。	All the while we don't have USD insurance plan in Malaysia, right until Malaysia set up Labuan as offshore financial centre to allow international insurance companies to set up office. One of such insurance company that offers such plan, through Phillip Capital platform, is Investors Trust.
Investors Trust不会直接向顾客介绍他们的产品。顾客必须聘用一名理财师来确保该产品适合他。更重要的是，要有一个计划并不时跟进。	Investors Trust do not meet with clients directly to showcase their products. A client must engage a planner to properly review that such a product is suitable for him. Most importantly, there must be a plan and it must be review all along the way.
对顾客而言，购买这类计划与购买本地保险无异。他必须每月付款直到完成年限。若是半途而废的话，退保额会很少。既然这是离岸保险，他以信用卡付款。	A client who took up such plan is similar to signing up a local insurance plan. He must duly service the monthly installment during the whole tenure. If if stops half way, the surrender value will be very pathetic. Since this is offshore insurance, he will make the payment using his credit card.
顾客可以依据需要选择供款期，比如5年、10年、15年或20年。	Client may choose a suitable paying period - 5, 10, 15 or 20 years.
当保单满期后，他即可把钱转至孩子升学地。即使他是储蓄美元，他仍然可以转移至澳洲、英国或日本等。	When the plan matured, he may transfer the money to where his child studies. Maybe he save in USD, he can still transfer the money to Australia or UK or Japan etc.
幸运的话，他的孩子要是成功获得政府或私人公司赞助，他可以把钱当作退休金或孙子的礼物。	If he is lucky that his child is sponsored by government or private company, he can use the sum of savings for his retirement or as gift for grandchildren.
我邀请父母亲前来为将来(退休、教育费、投资)做规划。存下的一块钱才是属于你的。	I invite parents to come to us to plan for future - retirement, education or investment. A dollar saved is a dollar earned.
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093 Phillip Futures Seminar In JB - Crude Oil Lowest In 13 Years. What's Next?

Seminar Phillip Futures di JB - Crude Oil Lowest in 13 Years. What's Next?	Philllip Futures 新山区讲座 - 原油处13年地点。后续如何？	Phillip Futures Seminar In JB - Crude Oil Lowest In 13 Years. What's Next?
Ini betul-betul soalan bernilai satu juta ringgit. Ada yang teka berapa rendah ia akan atau patut turun lagi. Ada yang teka kita telah berada atau dekat dengan paras terendah harga minyak.	这的确是值千金的问题啊。有人在猜、亦有人预测油价还会或应该去到什么价位。而也有人猜测我们是否已经接近或甚至已在地点。	A million dollar question indeed. Some are guessing or even predicting how low it may or should go. Some are guessing are we already near or actually at bottom now.
Memandangkan ekonomi Malaysia bergantung kepada minyak dan gas, trend harga minyak memang affect kita. Saya belum pernah main futures, tetapi saya ingin pergi seminar ini kerana saya labur dalam unit trust dan saham. Sebarang peningkatan dalam harga minyak pasti akan menguatkan ekonomi Malaysia, dan memacu keuntungan banyak syarikat tersenarai.	既然马来西亚的经济与油价息息相关，油价趋势牵动我们。我是还没有交易过期货，但我还是有兴趣去这场讲座会因为我有投资基金和股票。油价若回升，必然会振兴我国经济，到时许多上市公司的盈利必将受激励。	Anyway, since Malaysia's economy rely heavily on oil and gas, the oil price trend affects us. I have not traded futures, but I am interested to go to this seminar because I invested in unit trust and shares. Any recovery in oil price will strengthen Malaysia's economy, and thus drive earnings of many listed companies.
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Hadapan yang positif?	有好的展望吗？	Possible Positive Outlook?
Saya tidak tahu apa yang akan speaker beritahu. Semasa saya membaca the Edge yang terbaru (keluaran 29/2/2016-6/3/2016), Kenanga Investors Bhd dan Pacific Mutual adalah positif tentang harapan pasaran di setengah tahun kedua.	我也不知主讲人会如何说。只是我刚刚读了最新期的theEdge（期数29/2/2016-6/3/2016），Kenanga Investors Bhd以及Pacific Mutual对下半年的展望还挺乐观的。我当然也被激励了。	I must admit that I don't know what will the speaker say. As I read the latest theEdge (issue 29/2/2016-6/3/2016), Kenanga Investors Berhad and Pacific Mutual are quite positive on second half's market outlook. I am excited by their views.
Kalau kita perhatikan harga minyak kebelakangan ini, harganya nampaknya agak stabil walaupun kita masih dengar berita Iran tetap ingin tinggikan pengeluaran mereka. Satu-satunya berita baik ialah OPEC skan bincang untuk menetapkan pengeluaran di paras Januari. Adakah in bermaksud harga sekarang sebenarnya telah mengambilkira pengeluaran Iran?	如果我们注意以下近期的油价走势，价格似乎挺稳健的。我们还是听到伊朗依然致意要增产。唯一的好消息是油盟有意把产量上限定在一月的数字。这是否意味市场其实已经消化了伊朗增产的因素呢？	If we notice the oil price lately, the price seems to be holding quite steadily although we still hear Iran is still wanting to increase their production. The only good news is OPEC is talking about capping the production at January figures. Does this mean the current price has actually reflected the anticipated Iran production?
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Saya menggalakan pelabur-pelabur untuk bersambung melabur untuk masa panjang, dengan menggunakan harga rendah yang disebabkan oleh harga minyak. Jadi, saya inginlah dapat maklumat terbaru tentang pasaran. Jika anda juga berminat, beritahulah saya.	既然我鼓励投资者们持长期眼光继续投资，尤其是借机好好把握现时低油价所造成的低价位，我需要知道最新动态。如果你也有意出席，可以通知我。	Since I encourage my investors to keep on investing, with long term view, taking advantage price fall caused by oil price glut, I want to be updated with market. If you want to join the seminar, let me know.

092 Phillip Futures Seminar in JB