Saturday, September 12, 2009

Financial Planning - Practical Steps

I will be writing about Financial Planning - Practical Setps over the next few days. The topics will cover the following:

1. How much to save from monthly earnings?
2. How to identify your future financial needs?
3. What risks do you need to insure against?
4. How much can you afford to save?
5. How to invest your savings?
6. How to identify an honest financial adviser
7. What are honest financial products?

Watch out for these topics over the next few days. Tell your friends to come to my blog.
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4 comments:

Anonymous said...

very good topics and looking forward to read them

September 12, 2009 10:22 AM
Anonymous said...

First thing First!!!!!!!
Only engage a planner who is honest and passionate about putting your interest first.
Honesty is not enough. The planner MUST be competent and have the right professional qualifications , like CFP, CFA etc. in order to advise you on the various areas of your personal finances. He or she uses a need based approach like a doctor to uncover your needs and concerns and identify the BEST product or products to address your needs and goals.(you notice he doesn't push a product upfront because he doesn't know until he has examined you,right?)
He or she must not allow personal preferences and vested interest like commission to influence his investigation. His findings must be objective and cleint centric.

Warning: Any salesman or insurance agent who bears title like financial CONsultant or has awards like mdrt or cot must be suspected. Remember they push and peddle products and they don't consult but CON. How do you explain those titles when they don't have proper credentials and how did they get those awards? by doing charity? Of course by conning a lot of consumers especailly their own trusting policyholders to qualify for the commission based awards.
Anyway, remember the adviser must be HONEST AND COMPETENT. He or she MUST have both. One missing ...finished..you be conned

The Watchman

September 12, 2009 12:56 PM
Vincent Teo said...

Well done Mr Tan.

I look forward to your posting.

September 12, 2009 2:03 PM
Hot Stock Picks said...

Good points, and start investing while you're young.

September 24, 2009 4:21 AM

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