Books Review

For the last two weeks, me and my family have been buying all the motivational financial books including Robert. T Kiyosaki book. I have read his first book that is Rich Dad Poor Dad. The books is a wake-up call book for many people who just working for someone and did not have any financial freedom. The book open my mind on how to earn money through other Halal and legal source.

For someone to become rich, they must change their mindset from Poor people to rich people mind. Robert talks about his two fathers advice that represent two mindset of people around you. I am recommending this book to all of readers. It is a must read book and for a teenager like me, it is very useful.

Referring to the last post, i think this book change my father mind from becoming the employee of PJH to become a financial planner.

The rich become rich from their mind and not from their money

Root of financial planning

We have cover the meaning of financial planner and what he/she can do with us.

Now, we will talk about the root of financial planning.

Saving..Saving..Saving..

Now, why saving is important. Because something happen to us, somethings that require money, we can use the saving money for the emergency purpose. Savings in Unit Trust, Insurance, and Fixed Deposits can grow your money with the dividen that they give. Other tools for financial planning is investment. But it must be a very good investment. Here in Malaysia, especially for Malay, must invest in Amanah Saham Bumiputera (ASB), for the Chinese, they have Amanah Saham Nasional (ASN) to invest.

Because ASB is the best investment product in Malaysia. The dividends that PNB give is guaranteed by Malaysian Government and yearly you will get 7% or above. Though some issues has been raised about the integrity of ASB and the ‘HALAL” status, it is confirmed “HALAL” and it is a must to for the muslim to invest in ASB.

Most financial planner will provide plans that can give you ability to make saving, to pay bills, to pay all the debts and buy some properties though before this you cannot make all the things that he plans.

Here is my blog for financial advice, mainly for malaysian -> FutureFinancial

Financial Planning

Do you have a financial planner?

Nowadays. Lots of people cannot plan their financial correctly. If they plan it, they may fail or did not do what they are plan. Thats why we all need financial planner nowadays. We need someone who know all this stuff. We need someone who can guide us correctly to achieve our dream.

Though in Malaysia, financial planner is something new especially to Malays. Chinese people is more advance in financial planning as they have started century ago. Just look at the financial gap between Malays and Chinese, the Chinese rarely have financial problem. They can buy big cars, big house because they have their financial planner. That is the force behind their success.

Recently, Malay started use financial planner service. They are very fortunate to have the one and only true blue Malay financial planner that is Aziz Ibrahim CFP. Lots of people problems that he have solve. Mostly have pay all the debts, can start having a healthy savings and buy some property. My father as an example. Before he get his service, he have a lots of debts, mainly credit cards and personal loans. We don’t have any house but only dreams. After month of using Aziz Ibrahim plan. My father have pay all the credit cards debt, can buy a house in Putrajaya and have a 4 figure saving monthly. Thats like a miracle.

You can know more about Aziz Ibrahim Financial Consultant by visiting BebasHutang Blog.

What is Financial Planning

Financial Planning in Malaysia is not really exposed as in United States where Financial Planner is a common thing. For Malaysia, is new and the only person who giving the service of a true blue Financial Planner is Aziz Ibrahim. He have his style and plan that is really effective and no risks.

Okay, 1st of all what is Financial Planning. Financial Planning is a process where an individual plan their future in achieving personal target and financial by building & implementing the financial plan. The process it self can takes time and your guts.

What is the objective of financial planning?

1. Stabilize your financial to fight inflation.
2. To buy current needs.
3. To pay for education.
4. To finance your need when you retire.
5. To have financial back-up when you have an emergency

Next week, we will talk about type of debts and how to avoid the interest.