How many of you have watched this latest movie, “The Avengers”?

For every 10 of you reading this blog post, I can guarantee at least 5-6 of you have watched this movie, because it is soooo popular…

My facebook feeds are flooded with people “checking in” the cinema to watch the movie or filled with snippets of reviews, line of thoughts about the movie. Overall, the movie was awesome, though I feel, some part of it should be trimmed away. i love fast action movie

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So, what does Avengers got to do with financial planners in Singapore?

When I first watched the movie with my girlfriend, the first thing that struck me about the movie other than the explosive stuffs, was the importance of taking responsibility and teamwork.

As a financial planner, clients entrust us with their money. We need to take responsibility to manage their money well, recommending them plans, consistent with their risk profile.

We need to take responsibility to provide them with a trusted counsel, by placing their interest at heart. instead of our company

We need to take responsibility to be open, honest and transparent with all our clients, at all times in our professional dealings. Do not suppress information, omit, delete or adjust, just to induce a sale..

If we can take responsibility, take ownership to help our client meet their financial goals while advocating such principles…….. This is what I call, the champion mindset with a loving heart!

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Second lesson that I get from the movie is the power of teamwork.

Recently, NTUC Income Muslim financial consultants did a roadshow at the Halal Food Expo 2012. To get our company to subside the rental fee + set up cost, we need to hit a certain target, a multiplier of the total roadshow costs.

As this is one of the roadshows that involved high costs, naturally the target is high. A few of our top producers contributed, but we still plagued with an irritating shortfall. Alhamdulillah, when all gives their share, we hit the target set, and get our roadshow subsidised.

This can only happen with the power of teamwork. Instead of relying on the producing consultants in the team, all put in effort and give their bit. That is where, goals are achieved and barriers are lifted. Hope you learn something from this post. Insya’Allah.

My other related posts that may interest you:

• The Best ROI for Regular Premiums ILP In The Whole Industry, In Singapore
• What Is The Single Most Important Lesson You Learnt In Personal Finance?
• Real Reasons Why Financially Successful People Continue To Work Hard….

(Myself and my client interviewed by BERITASuria, Malay news channel, few days ago. Click the link to view video)

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This new fatwa, is a fatwa that has been much welcome by the Muslim community who owns  insurance policies in Singapore .

The fatwa will affect all Muslims who have an insurance policy with insurance companies in Singapore with effect from Sept 2009. This is because since Sept 2009, Muslims can only use irrevocable nomination for their insurance policies and there are many limitations to it.

This fatwa does not affect policy taken before Sept 2009.

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 Before : Can only make Irrevocable nomination.

When a policyholder does an irrevocable nomination, he will automatically gives up right of the policy to nominees. He cannot take a loan on the policy without the approval of the nominee and worst still if there are more than 1 nominee.

As he has given out his right, the maturity of his insurance policy will also not be his but belongs to the nominee(s).

If he is single, he will face problem as he cannot  nominates his parents, as stated in the form only nomination of spouse or children are allowed.

If he is married, he cannot change his nominees on his own accord. He needs to seek permission from his nominee(s). Things get complicated, if husband and wife faced marital problems and then divorced.

For policies with critical illness coverage, should he make a claim due to diagnosis of any of the illness, the claim proceeds will be payable to the nominee. Though the nominee can give back to the policyholder, but why can’t it be paid directly to him. At the state that he is in, it seems like he has to beg for it. What if..what if..the nominee are not ‘trustworthy’?

Now : with revocable nomination.

Alhamdulillah, now with revocable nomination, he is free to nominate anyone he wants. There is no need to go through the emotional trauma of ‘not trustworthy nominee’ as he can change the nomination without the nominee approval, in the future.

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On a sidenote, if you have a portfolio of insurance policies, endowment, annuity, or investment linked policies with your insurance companies, and you need help to do revocable nomination, you can call always call me for assistance. I will be very happy to help you. Insya’Allah…

My other related posts that may interest you:

• Why Yearly Financial Review Is Very Important???
• Vivolife : NTUC Income Limited Premium Insurance Policy
• Insurance Riders: What The Heck Is This All About?

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

It is definitely challenging for me, to juggle both work and study at the same time, but I guess, I will soon, get used to it. I am thankful, that my job, as a financial consultant, is pretty FLEXIBLE.

We can make appointments as and when we want. We can postpone appointments, when the exams are drawing near….all in all, while still maintaining our steady paycheck. Isnt that cool?

All right…. As I undertake my studies, I will share with you, stuffs, that I learn in school, which I believe, can be applied in the business world. Let us start, with MAKING DECISIONS…

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In life, we are bound to make DECISIONS.

It may be a big decision or a small one to make.

It may be a simple one, or a life threatening one.

It may be a routine one, or a ONE TIME decision.

Today, I am going to share with a you, a very good decision making model, that I have personally learnt in class and then apply, in the real business world. Just browse through the slides below to get an idea…

(Note: Some details were omitted due to confidentiality)

Lastly, after computing and tabulating the scores, a final decision is made!!!

My other related posts that may interest you:

• $100,000 in 10 Months- T Harv Eker Guerilla Marketing In Action…## Strategy 1
• Review On Quality Leadership and Life Management Training @ Istana Kampung Gelam…
• Start With The End In Mind

Election Is Coming……What is on your wishlist??? Do share with us here……

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• Huge, Drastic & Mind Boggling Transformation Coming Your Way @ HelmiHakim.com
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