DPN5043 INTRODUCTION TO FINANCIAL PLANNING

Name : Nurul Izati Binti Abdul Ghafor Matric No : 08DIN16F2032 For me, learning in TECC PSA was a new experience to be learned as in our past semesters, we did not even have a chance to have a class in TECC. So far the equipment are very satisfying and make me feel comfortable to study. So i hope that the TECC can be used by us in the next semester. what is your experience? Feel free to share with me in the comments below!

1. Above average selling skills You need to be able to successfully close prospects. In my video “ Closing Phrases to Move Clients to Action ” (available to The Taylor Method subscribers), I share  one-liners I use when closing clients, and they all end with the phrase “Let’s Get Started!” 2. Above average networking skills Again this is another  skill I teach in The Taylor Method.  Strive to be the ‘end-all’ for your clients by developing a strong group of networking partners that can address all the needs of your clients you cannot address. By doing so, you will be seen as a trusted advisor. 3. Ability to influence (calm your clients) The real value in an advisor is getting a very stubborn or irrational client to STICK TO THE PLAN. That is very difficult when the market drops by 40%, so your ability to calm your clients’ stresses and make them understand that they’re in this for the long haul is critical to a lasting relationship. 4. Work ethic Selling ...

Introduction   The objective of the Banking & Financial Institutions Act, 1989 (BAFIA) is "to provide new laws for the licensing and regulation of the institutions carrying on banking, finance company, merchant banking, discount house and money-broking business, for the regulation of institutions carrying on certain other financial businesses, and for the matters incidental thereto or connected therewith".BAFIA was introduced to provide for an integrated supervision of the Malaysian financial system and also to provide the Central Bank with the power to speedily investigate and prosecute, if necessary any illegal activities in an attempt o reduce white-collar crime. Scope & Ambit Of The Act   BAFIA came into force on 1st October, 1989, Section 128 of BAFIA provides that the Finance Companies Act, 1969 and the Banking Act, 1973 are repealed from the effective date but, notwithstanding the repeal, all regulations, orders, guidelines, circulars, licenses, approvals iss...

Financial Planning According to Investopedia, a financial plan is “a comprehensive evaluation of an investor’s current and future financial state by using currently known variables to predict future cash flows, asset values and withdrawal plans.” Things like savings, budgeting, insurance, investments, taxes, estate planning, and retirement are all part of a solid financial plan. In other words, financial planning involves assessing every aspect of your financial life to help you create a comprehensive financial plan (or strategy) to help you reach your  short and long-term financial goals . An intelligent financial plan that changes as your life changes is imperative to successfully achieving your financial goals. A financial advisor can help with financial planning, and will provide financial advice for compensation. Investment Planning  Investment planning is about creating an investment plan and sticking to it (even when you see your investments go down). It fact...

Real Property Gains Tax (RPGT) is a form of  Capital Gains Tax  that is imposed on the disposal of property in Malaysia. It was suspended temporarily in April 2007 to December 2009, and reintroduced in 2010. In 2014, the RPGT was increased for the fifth straight year since 2009. So how is it calculated, and what kind of impact does it have on you? Based on the Real Property Gains Tax Act 1976, RPGT is a tax on chargeable gains derived from disposal of property. A chargeable gain is the profit when the disposal price is more than purchase price of the property. What most people don’t know is that RPGT is also applicable in the procurement and disposal of shares in companies where 75% of their tangible assets are in properties, a.k.a. Real Property Companies (RPC). RPGT applies to both residents and non-residents. You will be only be taxed on the positive net capital gains which is disposal price less the purchased price less the miscellaneous charges such as...

Objectives of Financial Planning Financial Planning has got many objectives to look forward to: Determining capital requirements-  This will depend upon factors like cost of current and fixed assets, promotional expenses and long- range planning. Capital requirements have to be looked with both aspects: short- term and long- term requirements. Determining capital structure-  The capital structure is the composition of capital, i.e., the relative kind and proportion of capital required in the business. This includes decisions of debt- equity ratio- both short-term and long- term. Framing financial policies  with regards to cash control, lending, borrowings, etc. A finance manager  ensures that the scarce financial resources are maximally utilized in the best possible manner  at least cost in order to get maximum returns on investment.

Why is Tax Planning so Important

Types of Financial Planning  1. Cash Flow Planning: It is one of the important types of financial planning. An individual or a company forecast its short term and long term expenses against the projected cash flow. But there are time when emergency expenses or unexpected expenses occurred.  Once should plan its cash flow appropriately. Incorrect cash flow planning can lead to bankruptcy. 2. Investment Planning: Once should make your investment plan to achieve your goals in your life. Your investment plan is always based on your savings. Once you know your amount of savings, you can take the help of financial adviser for various investment opportunities like: fixed income, investment in stocks, gold, forex market, bonds, mutual funds, etc. You can either invest lump sum amount or you can start systematic investment plan (SIT) for a long term to fulfill the long term financial goals. 3. Insurance Planning: Insurance coverage for a long term is very crucial type of f...

Name of Presenter : 1) Nabila Aiman Binti Tajjul Ehssan 2) Ain Naziera Binti Hamid

Name : Nurul Izati binti Abdul Ghafor     Nor Fatin binti Nor Aznan

Here is our video presentation. Enjoy ! 😁 Don't forgot to drop your comment below 😊

Retirement Planning Issues in Malaysia A majority of Malaysians lack long-term financial planning, and only 40% of them are financially ready for retirement, according to Bank Negara Malaysia (BNM) Deputy Governor Abdul Rasheed Ghaffour, based on BNM's observation on long-term financial planning.   According to AKPK, more than 75% of Malaysians find difficulty saving RM1,000 for emergency needs, with the economic uncertainties and high cost of living. Malaysian should have a greater awareness on the importance of  saving for the future. A survey carried out by the Employees Provident Fund (EPF) IN 2017 showed that household savings in Kuala Lumpur and other big cities as well as in the rural areas, found that over 90 per cent respondents are not having enough saving to retire comfortably.  EPF has  raised the minimum savings target by age 55 from RM197,000 to RM228,000. But only 18% of members have this much, far short of its target of ge...

Financial Planning in General Q1. What is Financial Planning? Financial Planning is the process of meeting your life goals through the proper management of your finances. These goals may include buying a home, saving for your child’s education, starting a business or planning for comfortable retirement. Q2. What is the role of a Financial Planner? A financial planner is someone who uses the financial planning process to draw-up a plan with an objective to meet your life goals. The planner takes a “big picture” view of your financial situation and make financial planning recommendations that are right for you. He takes into consideration all of your needs – budgeting, saving, taxes, investments, insurance and retirement planning. He can also work with you on a single financial issue but within the context of your overall financial situation. This makes the financial planner different more comprehensive in his approach than other financial advisors who may be trained only on spe...

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