The New Paper : 09 September 2008 WHAT TO LOOK FOR IN A FINANCIAL PLANNER By Suze Orman

A REALLY talented financial adviser is an incredible asset. But a bad or
even mediocre planner is going to create a mess for you and put your
financial security at risk.

Here are some important 'first impressions' to look for:

Someone who has you go to her office. If she comes to you, it's a sign
she has too much time on her hands.

If you live with a spouse or partner, a good financial planner will ask
that both of you attend any meetings.

The planner's job is to truly understand the total financial situation
of your household, which means she should want to be familiar with the
needs, wants and risks of you both - individually and as a couple.

A clean office/desk. A planner who isn't organised isn't the right
person to handle your money.


Before a planner tells you what to invest in, she should have talked to you
about:

1. Whether you have any debt other than a mortgage, such as credit card
debt, student loan debt and so forth.

2. Whether you anticipate needing to provide financial assistance to your
parents during their retirement, and/or receiving an inheritance from them.

3. Your plans for a family, especially whether you intend to send your
children to private school and to what extent you intend to finance their
college education.

4. Whether you rent or own a home and what your goals in this area are. Do
you want to trade up to a bigger place or different neighbourhood or
downsize?

5. Your life insurance needs, if anyone is dependent on your income.

6. Retirement investments you already have.

Suze orman is one the best financial planners and money managers in the world today. She is the author of several books on financial management and also hosts "The Suze Orman" show on CNBC.

SAD BUT TRUE STORY

Generally, the Asian parent's retirement plan are their children, sadly, many to be ungrateful and infact add to their financial burden by asking more money from their parents....article below shows the degradation of the human life and mockery of the virtue of filial piety.

http://thestar.com.my/news/story.asp?file=/2006/4/26/nation/14065350&sec=nation


Parents.....always remember retirement first then children's education...alot of parents these days are sacrificing their retirement funds to send their children overseas where it becomes a haven for booze, party and opposite (sometimes same ) sex!

OIL PRICE IS BEING MANIPULATED

With oil hitting US$140 per barrel, many would have to dig deeper into their pockets in order to pay for fuel prices. This has sparked unrest in many poorer countries and is beginning to cause a social problem because their government cannot control the rising oil prices.

The president of the Organization of Petroleum Exporting Countries OPEC, Chakib Khelil, again Saturday blamed speculators for the steep rise in oil prices, insisting that supply was not a problem.

"There is no problem of supply, the problem is much more linked to speculation," he told a press conference with visiting French Ecology and Energy Minister Jean-Louis Borloo. He also said the price of oil was closely linked to the exchange rate of the U.S. dollar, which has fallen steeply against other major currencies.

"The consensus is that the crisis is not over and there is going to be a continuing impact on the price of oil because of speculation," he added. Khelil, who is also the Algerian energy minister, made similar remarks on Monday in an interview with Spanish national radio.


So, if there is supply, then why the hike? Is this done for selfish reasons by the big industrialist bankers who want a more tighter control of the market? what do they get out of it? MONEY?

Yes but its not that simple...they want the real money from WARS. Why?

Rise in oil price means unrest in countries, unrest in countries give rise to social problems, rise in social makes a country divide, when a country is divided....its easy excuse to wage WAR to bring peace. Governments borrow from these bankers and buy arms, missiles, planes,ammunitions from the very companies these bankers have a their shareholding in.

Who lends the money? Its these industrialist bankers...and they charge a high interest.

Thats why they say war is profit, now you understand!

DID YOU KNOW?

Fixed Deposits, Endowment plans and Stocks are the top three financial products in Singapore.

60% of mass retirees have no retirement plan for regular income.

66% of Singaporeans afraid to take risks.

47 % depend on children to develop a financial plan.

Only 3% go to Financial Adviser.


I strongly feel that Singaporeans are in big trouble. They have neglected the issue of retirement thinking that CPF is sufficient for their retirement. Hello? Things are way different know. Look at the alarming rate Inflation is rising to. Its 7.5% now. Its creeping up on all of us slowly. People are beginning to realize the pinch... Will it go away? hard to say....As long as oil prices continue to rise, things are definitely going get a lot more worse.

Walk the rich mans way……

Deep beneath the throbbing toil of the commoner,

Rises from the depths of his heart a plea

Beseeching to the merciful heavens, to grant him riches,

To let him live…to be comfortably free

He labours endlessly all through the day and night

Yet naught to show for,

A lean purse and not a sense of security

Dancing upon the shimmering waters of wisdom, a master appears

Showing the weary labourer a way

A path wherein the Goddess of wealth favours

To the man who desireth gold, she will pay

Riches in abundance

Last week, I went the bank to deposit some cash. The guy in front of me was asking the bank officer how much was the current interest. She told him it was 0.25%. " 0.25%? So low ah?" he retorted. " Sir, we also have a monthly savings plan that gives you almost double, 0.45%" she replied proudly. He shook his head in disbelief and walked off.

This man knew the pathetic rates banks were offering wouldn't do him any good. Savings accounts in banks are really like the Hyundai Matrix, that has an unquenchable thirst. They erode capital and make banks richer. If everybody went the bank and withdrew all their monies at one time, banks would collapse at an instant.

Northern Rock is a classic example of this. It reached to the point of collapse in 2007 due to the sub-prime crisis which caused people to withdraw their monies in a frenzy. It was estimated that £1 billion was withdrawn by customers in one single day, about 5% of the total bank deposits held by the Northern Rock.In one incident, police were called to the branch in Cheltenham, Gloucestershire when two joint account holders barricaded the bank manager in her office after she refused to let them withdraw £1 million from their account. Their money was held in an internet only account, which they were unable to obtain after the Northern Rock website became inaccessible due to the volume of customers trying to log on.

On 17 September, as worried savers continued to flock to some Northern Rock bank branches to withdraw their savings, it was reported that an estimated £2 billion had been withdrawn since the bank applied to the Bank of England for emergency funds. By early afternoon in London, Northern Rock's shares, which had lost 32% on the previous Friday, fell a further 40% from 438 pence to 263 pence.Later that day, the Chancellor of the Exchequer, Alistair Darling, announced that the British Government and the Bank of England would guarantee all deposits held at Northern Rock. Northern Rock shares rose by 16% after this was announced.

Till next time- happy investing!

LO, MONEY IS PLENTIFUL,
FOR THOSE WHO UNDERSTAND
THE SIMPLE RULES OF ITS ACQUISITION

1. Start thy purse to fattening
2. Control thy expenditures
3. Make thy gold multiply
4. Guard thy treasures against loss
5. Make thy dwelling a profitable investment
6. Insure a future income
7. Increase thy ability to earn

- The Richest Man In Babylon by George S Clason

Where should the average Joe should put his money?

From the gargantuan investment universe out there filled with financial instruments to make your head spin to the brokers who claim that their company are the best in the business, its no wonder why people are hesitant to invest.

For those who are unsavvy investors, who cannot be bothered by the annual reports, for them I recommend unit trust or ILP's. This is because unit trusts are manged by professionals who are experienced and monitor their investments daily. Unit trusts offer the diversification so risks are spread.

About 75% of unit trusts have outperformed CPF's returns. Most of the CPF monies through GIC are invested and from the returns provides 2.5% for the Ordinary Acct, 4% for the Special Acct and medisave accounts.

So, take ownership of your money as there is potential for higher returns and learn the basics about investing, also know where and what is your money being invested in. Till next time..happy investing!

"Open your eyes...look what's inside and see...i am no poor boy..i need no sympathy... cos' i easy come easy go little high little low..... anywhere blows, doesn't really matter to me...to me" - Bohemian rhapsody by Queen

Why is Including Critical Illness coverage in your policy so critical!!!

Critical illness or dread disease coverage are offered by most insurers. It is necessary to include them when buying a insurance policy. Cancer, heart disease and stroke are the top three major killer of Singaporeans. Together, they account for more than 60% of our total deaths.

Chinese population witnessed 36,247 cancer deaths between 2001- 2005.

Of the total population of indians in Singapore, 16% of males and 15%, females are suffering from diabetes.

Malays are first in line for cholesterol, affecting 26% males and 17% females.

27% percent of all deaths from 1998-2002 were all cancer related. Take a look at the table below


Top 10 cancers affecting Singapore men
(source NCCS website)

Site	Ranking
Lung	1
Colo-rectum	2
Liver	3
Stomach	4
Prostate	5
Nasopharynx	6
Skin (including melanoma)	7
Lymphomas	8
Bladder	9
Leukaemias	10

Top 10 cancers affecting Singapore women

Site	Ranking
Breast	1
Colo-rectum	2
Lung	3
Ovary	4
Cervix	5
Stomach	6
Corpus uteri	7
Skin (including melanoma)	8
Thyroid	9
Lymphomas	10

The following are the 30 major illnesses that most insurers offer. Only upon diagnosis of any thirty listed in the benefit schedule will be honoured. Other diseases such rare diseases are exempted.


(1) Major Cancers
(2) Stroke
(3) Coronary Artery By Pass Surgery
(4) Heart Attack
(5) Kidney Failure
(6) Fulminant Hepatitis
(7) Major Organ/ Bone Marrow Transplantation
(8) Paralysis (Loss of Use of Limbs)
(9) Multiple Sclerosis
(10) Primary Pulmonary Hypertension
(11) HIV Due to Blood Transfusion and Occupationally Acquired HIV
(12) Alzheimer's Disease/ Severe Dementia
(13) Blindness (Loss of Sight)
(14) Coma
(15) Deafness (Loss of Hearing)
(16) Heart Valve Surgery
(17) Loss of Speech
(18) Major Burns
(19) Surgery to Aorta
(20) Terminal Illness
(21) Muscular Dystrophy
(22) End Stage Lung Disease
(23) End Stage Liver Failure
(24) Motor Neurone Disease
(25) Parkinson's Disease
(26) Aplastic Anaemia
(27) Benign Brain Tumour
(28) Major Head Trauma
(29) Bacterial Meningitis
(30) Angioplasty & Other Invasive Treatment For Coronary Artery

* Note: For Angioplasty & Other Invasive Treatment For Coronary Artery condition, most companies have a cap on the payout about 10% of sum assured.


Make you sure you check with your advisor before buying a life or term policy to insure that it covers critical illness.