They are claiming that only their insurance company provides investment in Takaful fund.

Dont be misled. Till date, I do not understand why this group of individuals need to mislead the public that only their insurance company promotes Takaful investment funds. My opinion, even if you want to claim monopoly over shariah compliance funds, there is no need to bring down other Muslim financial planners from other insurance companies in Singapore.

For the record, I am writing this blog post, to balance the perpetuated, biased views, on Islamic finance in Singapore…. and I will like to put things in the correct perspectives.

NTUC Income Cooperative, Muslim financial consultants also promotes Takaful fund. http://www.income.com.sg/fund/frame.asp?fundid=4

We do not want war. We want peace. Wassalam.

My other related posts that may interest you:

• Is there such thing as Halal Insurance In Singapore?
• Q & A on NTUC Income Investment Linked Policy
• What to Look For In an Investment Linked Policy?

You can contact me, Financial Consultant, Helmi Hakim @ 96520134 for more details.

I will be very happy to assist you!

My other related posts that may interest you:

• Singaporeans……Answer these 5 Questions Honestly Or Else….
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• Personal Finance Is Meant To Be Simple.

I emailed the server technicians in US, and was told one of my old sites (I host a few websites with them), was unsafe, and because of that, they have to bring down all my sites, including http://www.helmihakim.com …

Imagine the stress, that I have…. Smses from clients, emails from those who advertise their web on my sites started to stream in, asking me, what happened exactly. :/

This is when, I suddenly remembered, the famous theory of diversification.

Thus, what I did, is that I get another web hosting company from Singapore to host http://www.helmihakim.com … I DIVERSIFY my risk. Should my old server went down, my lovely, informative and exciting blog will still be live.… Conversely, if my new server is down, other sites on my old server are still fully operational.

So, again, the famous theory of diversification. 

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Today, I am going to share with you a simple diversification strategy to invest in funds based on your age.

“If you are 20 years old, you have some money to invest. You can put 20% of your money in bonds and 80% in equities.

If you are 50 years old, you have some money to invest. You can put 50% of your money in bonds and 50% in equities.

If you are 70 years old, you have some money to invest. You can put 70% of your money in bonds and 30% in equities.”

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So you see, the younger, you are, the more money, you can put in equities because, you can take risk and have a longer investment time horizon. This is just a simple strategy that you can employ….but of course, if you want to get a detailed risk profiling assessment of yourself, it is best to consult your financial consultant. Enjoy your day!

My other related posts that may interest you:

• What Is Assets Allocation All About?
• How Compound Interest Can Help Your Money Grow Over Time….
• I Won A Book in Alvin Phang’s Blog!

She was talking about buying a beautiful eyeshadow, which was on sale at Tampines Point.

As she knew that I am a prudent and careful buyer, also a voracious saver, she asked me for help……. She asked me to motivate her, not to succumb to the temptation of forking out HUGE dollars from her wallet, to buy the beautiful eyeshadow……..shehasmanyofit

Did I succeed to convince her? The answer is a miserable, NO!

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Today, I am going to share with you, simple yet pragmatic strategies on how, I curb myself from squandering and spending all my money on things that, I may not need.

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Strategy No 1: Stop before you buy

The first strategy to curb yourself from spending is to procrastinate in buying…

Keep telling yourself, that you are going to buy the stuffs that you are looking at, the next following day.
I assure you that you will soon forget about it.

Tell yourself, “Do I really need this?”

How  many hours, must I work to get back this money?  How much is it worth, if i invest it @10%/annum in 10 years, 20 years, 30 years?

Strategy No 2: Pay yourself first

When you get your income, pay your personal savings plan first. You can instruct bank to do an automatic deduction to your personal savings plan. You can get endowment plans, or invest in funds, stocks or commodities like gold…

By setting aside that money for savings seperately, you will reduce the tendency to spend all that you have at once…

Strategy No 3: Destroy all credit cards except one. and pay full balance on time

Have you ever wonder, why the banks keep offering you attractive freebies, reward points and rebates if you sign up for their credit cards?

It is because, they know, when you have a credit card, you will tend to spend MORE when you have access to this easy credit…. They want you, to owe them money and pay interest…

My recommendation for you, is that, only keep one credit card for use, and pay the full balance on time….

That’s it!!! I hope, the 3 strategies, that I share with you, will be of much help for you to curb yourselves from spending over your limits….

My other related posts that may interest you:

• How To Motivate Yourself To Save More Money?
• Investment That Can Give ROI of More Than 1000%
• Powerful Strategy To Save Money

If you are a financial planner, like me, you will definitely reach out your financial calculator and punch in these figures, to get the answers. idoiteveryday

Set: End
n: 10
i%: 9
PV: -10,000
FV: Solve

…..and in an instance, you will get $23,673.63

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In my “financial planning for wealth manager” (catered for high networth individual) class, I learnt to calculate the answers, without using a financial calculator. You can use a normal, scientific calculator to get the answers.

How do you do that?

You can calculate it this way…..Use this formula….. Principal (1+interest)^{number of years}

Just take 10,000 (1+0.09)¹⁰  = $23,673.63

Easy right?

For now, just remember this formula. In the next blog post, I will share with you the intricate mechanics of this formula. Share this blog post, if you find it useful!

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• Should you pay your car in full OR take a car loan?
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