Financial Planning Tips

Financial Planning Tips

How much should I save for my retirement? You should save 10% to 15% of your regular earnings for your retirement. This is separate from your savings to pay for the purchase of your home or your children's needs. You can count your savings in the Central Provident Fund (excluding the portion used to pay your home loan or set aside for medical expenses) as part of this savings. If your net saving in the Central Provident Fund is inadequate, you should make additional savings for your retirement. Most people try to save at least 10% of their regular savings, in addition to their Central Provident Fund savings. How much life insurance do I need? If you have dependents, you should have life insurance for 5 to 10 years of your earnings. If you earn $30,000 a year, you should have life insurance for $150,000 or more. It is better to buy a decreasing term assurance. At age 30, you can buy a 30 year decreasing term assurance for $150,000 for only $165 a year (male) or $115 a year (female). This insurance covers you for $150,000 during the first year and reduces by $5,000 in each subsequent year. After 30 years, you will probably have accumulated sufficient savings to take care of your family or your own future needs. By that time, life insurance is not necessary. If you buy a level term assurance to cover $150,000 for 30 years (i.e. the insurance does not reduce), the premium is $280 a year (male) or $195 a year (female). How should I invest my savings? You should invest in your savings in a large, well diversified, equity fund. An equity fund can give you a higher return compared to other types of investments, such as bonds or cash. By investing in a diversifed fund, you reduces the risk of loss from a few bad investments. As the other investments may perform better, the average return for the fund should follow the market. You should also invest for the long term, i.e. for 10 years or more. The investments will perform very well in some years (e.g. give a return more than 15%) and may perform badly in other years (e.g a negative return). By investing for many years, you will average out the good and bad years. Over the past 20 years, the global equity market earned an average return of 10 percent per annum. In the future, the return may be more lower, say 6% to 8% per annum, but it is still very attractive. You should also choose a fund that have a low upfront fee and a low annual fee. This allows you to keep most of the market gains. You should not allow the fund manager or the financial adviser to charge high fees, as they have to be paid from your investment gains. If you invest in a fund that have low fees, compared to a fund with high fees, the difference in the your return can be as much as 20 percent over a period of 30 years. NTUC Income offers several large, well diversified funds with probably the lowest fee in the market. You can choose an equity fund or a combined fund (i.e. equity and bond). Should I buy a whole life or endowment policy? An endowment or whole life policy provides the protection and savings in a bundled product. It gives a modest net return of about 3% to 4% per annum. It is inflexible, and requires you to pay the premium regularly over the duration of the policy. Many people prefer a more flexible plan and earn a higher return. You now have the option to buy a low cost term insurance to cover your protection needs and to invest your savings in an investment fund. You have flexibilty to change your savings and to make withdrawals, without penalty. You can also change the investment fund. What age should I retire? You should work for about 40 years, so that you can accumulate sufficient savings to meet your financial needs during the next 15 to 20 years of your life. Most people start work around age 25. They should aim to retire at around age 65. If you save 10% of your earnings and invest wisely, you should have sufficient savings for a basic lifestyle. You should save 15% of your earnings, if you aim to have a more comfortable lifestyle during retirement. At the time of retirement, you should have accumulated savings representing 6 to 10 years of your earnings, plus a fully paid home. If your annual earning is $50,000, you should have accumulated savings of at least $300,000. If your accumualted savings is inadequate, you should work a few years longer. If you have to retire earlier, you should accept a more modest lifestyle. It is better to save a larger portion of your earnings, if you can. Do not spend too much on your home, car or other expensive items. Where can I get financial advice? You can also talk to me, your financial consultant, who can visit you at your home. The financial advice is FREE. My contact is 93363561 or +60167591153. I can be reached via email at z530703@income.com.sg or luke2409@yahoo.com

Internet Cash Machines

Dear friend,

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• How To Take Easy Advantage Of What People Search For In Search Engines!
• Where To Get A Free eBook Maker - Really Free - No Ads
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MEG 'N' IDEAS
Blk 68 Geylang Bahru #15-3213
Singapore 330068
+65 9336 3561

P.S. Remember, you get full resell rights to Internet Cash Machines when you order. You get the product and the full site. Just plug in your name and address, upload it to your web site and start making sales. You keep the money!

Copyright © 2007 MEG 'N' IDEAS. All rights reserved

Day 1

I am excited that I can make passive income by using the internet. I have heard and visited Google Adsense and successfully registered my account. My first adsense appeared at my website http://www.megnideas.bravehost.com. This site records my history of bankruptcy. It was a painful experience and I encourage my reader never to be in the same position as me. I had that label as an undischarged bankrupt from Oct 1996 to April 2003. That stigma remained with you for the rest of your life. You know why? Because you can never get a credit card or a bank loan again forever unless you become a millionaire and have large amount of fixed deposit. Which is why I am determined to become a millionaire in the next three years (target year 2010).

If you are interested to know more about the life and experience of an undischarged bankrupt and how to receive your discharge certificate within seven years of your bankruptcy, send an email to me or click here now and I will share with you the how-to procedure.

Next, the first thing I did to gather information so that I have an online tutor (self-study) to teach me the rope of internet marketing, I subscribe to Free Internet Marketing Courses. Click HERE! to register for the course for FREE!

Well, now I need a website. You can get free website and a free sub-domain name at bravehost.com and if you are more adventurous, you can immediately own a commercial website that earn you money by signing up here!




Welcome back. Have you sign-up for your free ready-to-make money website? If you haven't, sign-up here!
Congratulation if you have. Now the first hurdle is over, let's go for the next challenge, which is to promote your website or your business in the world wide world, cyberspace, cyberworld, internet or whatever you called it.

In the nutshell, these are compulsory for you to start earning money from the net. Let me list it down here:-

1. Membershhip site
2. Build your list - try List Machine - Click here!
3. Autoresponder -try Aweber - Click here!
4. Affiliate programme
5. Google Adsense account
6. or a Full turn-key software to include all of the above.

Before I forget, you may ask me this question. I do not want to sell other people product but a product of my own but I do not know what is it? Don't worry. Start my asking yourself what is your passion. Something that can automatically drive you to achieve that passion without your other half or your mother shouted at you to get out of bed!! If you are able to answer that question, one quarter of the battle has been won.

The first thing you need to do is getting a domain name.
This is will be your name on the net. When you type in
http://income4success.blogspot.com you are typing
in a domain name.

My personal recommendation for a domain registrar is:
http://www.namecheap.com .