166 Endowment Plan of a friend 朋友的储蓄保单

 166 Endowment Plan of a friend 朋友的储蓄保单

Last week, my friend said his son's endowment plan (bought by his wife) is going to mature, and they are going to get a sum of money. So, he is curious about the interest (rate of return).

The payment period period for that endowment plan is 12 years, each payment was RM1,585. The maturity value is RM34,019.

And I asked him, after paying for 12 years, how many years did they waited till maturity? He is not sure, he thought they can get the maturity value on the 13th year. I am a bit skeptical, so I asked him to check with his wife again. Till now, he has not reply to me.

OK, we can do some simulation to see the rate of return using different maturity period. I use a spreadsheet, key in 12 lines of -1585 (payment, duit keluar) plus a line of 34019 (receiving, duit masuk). The maturity value (34019), I placed in different different years. Then I use IRR function to calculate the internal rate of return. As below.

We can see the IRR is between 3.34%~8.67.

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上个星期，朋友说他的太太为孩子买的储蓄保单到期了，有得拿一笔钱了。那他很想知道这份储蓄保单的利息（回抽率）到底有多少。

他说该储蓄保单一共要还12年，每期RM1,585。到期可以拿到RM34,019。

那我问他还了12年后，等了多少年才到期呢？他也不知道，还以为第13年就到期领钱了。我有点儿质疑，要他跟他太太询问清楚。这是因为第几年到期就决定了回抽率。只是到今天他还没有给我答案啦。

那好，我们可以做几个推算，依不同的到期年来看看回酬率多寡。我用 spreadsheet ，输入 12 行的 -1585 （还款，钱飞出去）再加一行的 34019 （收到钱，钱飞进来）。到期日的数目 (34019)，我把它放在不同的年份借此试算出内部回酬率 (internal rate of return)。看下图。

所以回酬率介于3.34%~8.67%之间。

127 Some ways to save children's education funds in foreign currencies

Some ways to save children's education funds in foreign currencies	为孩子教育基金储蓄外币的几种方法
For parents that intent to send their children to study oversea, the ultimate currency to be used would be the target country's currency. The conventional method to plan education fund is to save in RM, and then convert them as their child is ready to go oversea. That is to save over a span of 10, 15 or 18 years.	对于想送孩子出国留学的父母们，最终要用到的货币还是当国的货币。最传统的做法是全部储蓄马币，然后在孩子准备出国的时候兑换当国货币。这样大概要储蓄10，15或18年。
That worked fine for many parents for many years. But in 2014, many parents felt the pain when USD appreciated against MYR, suddenly, from RM3.30 to RM4.50 to a dollar. That was a sudden increased of 40%. God knows how many children's education were delayed or diverted elsewhere.	那个方法确是行得通。但在2014年，美元兑马币忽然从3.30升高至4.50兑一美元，这情况让许多父母不知所措。天晓得多少学子必须延迟大学教育或是易地就学。
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We know it is hard to predict currency exchange rate. But today's parents actually can better prepared their children's education funds. They can actually start saving part of the money in foreign currencies. For example, a parent may save in a combination of RM, USD and SGD. When the day come, he may then decide which currency to use to pay the college fees. If parents has intentions to save in foreign currencies, some ways I can think of are as below.	货币兑换率确是不易预测。今天的父母能做的就是做好预备。父母们可以为孩子们一开始就储蓄外币。例如，父母们可以储蓄马币，美金和新币。当孩子要上大学时，再来决定要使用那个货币。若是父母们确有这样的意愿的话，以下是我可以想到的几种方法。
a) Convert RM to foreign currency and keep at home. This must be the easiest, but also the most dangerous and the least productive. By easiest I mean a parent may just drop by any money changer when he has the money and the rate is attractive. By least productive I mean the foreign currency will not be earning any interest. By dangerous I mean it is most susceptible to theft or even termite destruction.	a) 兑换外币收藏在家。这必定是最容易的方法，却是最危险也是最没有生产力的方法。最容易是因为父母只要有钱且兑换率划算，即可到货币兑换商那儿兑换外币。最没有生产力是因为钱不会生钱啊。最危险则是因为钱收在家里容易遭盗窃，甚至遭白蚁蛀食。
b) Convert RM to foreign currency and keep in foreign currency account at banks. This is an upgrade version of a). At least in the banks, the money is more secured, and the banking system has the track record of history of deposits. This makes it easy when the money wants to be remitted to pay for college fees.	b) 兑换外币收在银行。这是a）的升级版。把钱收在银行当然更加妥当，且银行将有所有的存储记录，这样当要汇钱出国的时候就容易许多。
c) Directly save in foreign currency in that particular country. This apparently only applicable for parents has accounts overseas, maybe they have employment or business there. Like many parents in JB work in Singapore, so naturally they have savings account in Singapore. So they can keep the money there for their children. However, if the money is just sitting in FD, the interest would be a miserable 1% perhaps. Here again, parents has to look for better way to grow the money.	c) 直接把外币收在当国。这比较适合在国外有银行户头的父母们，或许她们在当国有工作或者生意之类的情况。比如在新山的父母们挺多是在新加坡工作的，所有自然而然会在新加坡拥有储蓄户头。那他们就可以把钱留在那里。但是如果钱只是留在定期存款的话，利息就只要区区的1%左右。父母们应该寻找更好的生钱方法。
d) Save in foreign currency through offshore insurance. For parents that work in Malaysia, one alternative would be to save through offshore insurance. Companies like Investor's Trust SPC, Hansard International, Premier Assurance Group and Archipelago Insurance do offer such policies. Policies holders would simply pay their premium monthly over a span of 10, 15 or 20 years.	d) 透过离岸保险储蓄外币。对于在本地工作的父母，其中一个选择就是透过离岸保险来储蓄。离岸保险公司如 Investor's Trust SPC, Hansard International, Premier Assurance Group 以及 Archipelago Insurance 都有这类保单。保客只需每月供款10，15或20年即可。
e) Save in foreign currency through Phillip Global Wrap Account (PGWA). Another alternative for parents working in Malaysia would be to use Phillip's investment account - PGWA. Take for example of parents that work in Singapore. They can invest in PGWA to grow their money. They may not have the time during office hour to go to the bank to inquire about investment matters. But in view that PGWA account opening is in Malaysia, parents can actually approach us during weekends, holidays or off-days.	e) 透过Phillip Global Wrap Account (PGWA)储蓄外币。另一个选择是透过辉立公司的投资户头PGWA来达到目的。例如在新加坡工作的父母们即可把他们在新加坡的储蓄投资在PGWA来达到资本增长的目的。一般上这些父母们无暇在工作时间到银行办理投资事宜，但因为PGWA乃是在本地开户，所有父母们可以趁着周末、假日或是休息日来办理。
f) Invest in unit trust funds that accepts foreign currency. There are some funds available locally where the fund house accept other currencies on top of the RM. We called this "multi-currency funds". Example are Affin Hwang SGD Income Fund (MYR Class) and Affin Hwang SGD Income Fund (SGD Class). In this example, client can invest using RM or SGD. Since this fund invest in Singapore securities, client's investment will grow in tandem with Singapore's economy. And if client were to invest using SGD, he can avoid any negative impact to his total return due to exchange rate.	f) 透过投资在接受外币的信托基金。本地有些基金是有接受马币以外的货币的。我们称之为“多元货币基金”。例如Affin Hwang SGD Income Fund (MYR Class) 以及 Affin Hwang SGD Income Fund (SGD Class)。顾客可以选择一马币或新币来进行投资。因此基金乃是投资于新加坡相关证券，顾客的投资可跟随新加坡的经济成长。而若同时是以新币投资的话，顾客可避开货币间兑换率对回酬的负面影响。
Through d) and e), clients has a way to participate in destination country's growth. Example is if client want to send their children to Australia, they may buy AUD policies or invest in Aussie dollar unit trust funds. This way, their AUD money will grow in tandem with Australia's economy and inflation rate.	透过d)和e)这两个方法，父母们即可参与当国的成长机会。比如顾客打算送孩子到澳洲读书，那他们可以购买澳元保单或是澳元信托基金。如此，他们的澳元资产将随着澳洲的经济增长而赢过当地的通货膨胀。
So those are the ways I can think of right now. How much is needed and how you save need planning, and that's what we do. Do contact sateo7689@yahoo.com if you need so.	以上是我目前能想到的。至于需要多少钱以及如何储蓄则另需规划。而后者正是我们的工作。若是您有任何需要请联系sateo7689@yahoo.com。

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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