Ringgit and Sense

Tax season is coming to an end and for those who have filed their taxes, they can expect their deductions and returns to be sorted out in due time. But there are those who have yet to file their taxes and as the deadline closes, panic is setting in. Fret not as Sim Wie Boon speaks to Thanneermalai Somasundaram, Managing Director, Thannees Tax Consulting Services for some last minute tax filing tips as well as what are the consequences for missing the deadline. Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

As the world marches on it post-pandemic recovery trajectory, many of us might think that this will be a return to "more of the same" but with a rise in inflation, a sudden outbreak of war in Europe and China's Covid-19 strategy, there’s no telling how the markets will shift. So how do you maneuver in these volatile times? Yap Ming Hui, Licensed Financial Planner, Whitman Independent Advisors shares some tips. Image credit: shutterstockSee omnystudio.com/listener for privacy information.

Higher education is widely seen as a key stepping stone in social and economic mobility, but it doesn’t come cheap. For almost three decades, PTPTN has helped many students with loans to help fund their education in order for them to get a good job. However, students must also be aware that financial aid isn’t free money, and that the repayment of PTPTN education loans is important to ensure the sustainability of the programme for future generations. Ahmad Dasuki Abdul Majid of PTPTN talks about PTPTN's efforts to help students with their financial situation, Simpan SSPN and the importance of repayment. See omnystudio.com/listener for privacy information.

According to Bank Negara’s recently published 2021 annual report, Malaysian households have nearly 1.38 trillion ringgit worth of debt and a chunk of it are due to personal loans. Sim Wie Boon speaks to Idham Idris of Wealth Vantage Advisory to understand why people take it and get his thoughts on when personal loans are a good idea as well as when they are not. They also discuss the dangers of personal loans and how easy it can lead you into a debt trap. Image credit: Pixabay.comSee omnystudio.com/listener for privacy information.

During times of volatility and uncertainty, gold is seen as a safe haven investment to protect your wealth. But apart from that, what real value does it really have to your investment portfolio and how should you position it? Sim Wie Boon speaks to licensed financial planner Eng Meei Yu, Co-Founder and Executive Director of MyFP Services on why people buy gold during uncertain times and how we should value it. Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

For a World Health Day special, Sim Wie Boon will be diving into the rising healthcare costs in Malaysia exploring how much it costs to visit a clinic or hospital and get treated there as well as the pros and cons of public vs private healthcare. He also touches on the importance of healthcare insurance and the considerations to have when getting it. Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

Scams have been rising lately in Malaysia with complaints about financial fraud, especially Internet, investment and phone scams being the top five issues raised by the public in Bank Negara’s 2021 Annual Report. In fact, according to the Selangor police, a whopping 33.7 million ringgit was lost to online scams and cyber crimes in Selangor in the first two months of 2022 alone. Sim Wie Boon speaks to Kevin Neoh of VKA Wealth Planners on how to spot scams and what to do when you find yourself falling for one. Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

For many of us, we spend our younger years working really hard to build a career and earn a decent living so we can afford to live a comfortable life in retirement. However, things are not as simple as just setting aside a sum of money for retirement. A factor many seldom take into account is inflation and the rising cost of living in the future. So how should you approach this? How do you inflation-proof your retirement? Tune in for more. Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

Tax season is upon us and we all have slightly more than a month to file our taxes. So in conjunction with this, Sim Wie Boon speaks to Ang Weina, the global employer services leader of Deloitte Malaysia on what to look out for in your tax filings and the consequences of late submissions. Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

Personal finance and investing has seen significant changes in the last century. Technology has saved us all an immense amount of time and money because everything is available through a click of a mouse, or the tap of a screen. It has also imparted a sense of control over the information you have, opened doors to forums for discussion and changed the way you budget and save, or spend your money. Vincent Fong of Fintech News Malaysia joins Sim Wie Boon for a discussion on the relationship between technology and investing. To learn more please visit www.franklintempleton.com.my/helloprogress.See omnystudio.com/listener for privacy information.

These past two years have seen a period of disruption and opportunities with the Covid-19 pandemic becoming a trigger for government spending, low interest rates and a supply chain crisis. And while the world is slowly learning to live with the virus, we’re now faced with a war in Europe. So how do these global trends affect your investments? What is the appropriate strategy to employ when you invest globally? Subash Pillai of Franklin Templeton explains. To learn more please visit www.franklintempleton.com.my/helloprogress.See omnystudio.com/listener for privacy information.

When it comes to investing, risk and reward are inextricably entwined. Therefore, it is important for anyone to weigh the potential reward against the risk to decide whether it's worth putting their money on the line. Licensed financial planner and CEO of Success Concepts, Joyce Chuah shares her thoughts on the relationship between risks and rewards, the search for yield and how to navigate these waters. To learn more please visit www.franklintempleton.com.my/helloprogress/See omnystudio.com/listener for privacy information.

A core tenant of investing and financial planning is asset allocation. You shouldn't put all your eggs in one basket as it greatly magnifies risks to your portfolio should that basket hit a rough patch. So how do you allocate your assets accordingly and in an optimum manner? What are some of the mistakes and fundamental rules when it comes to asset allocation? We discuss the 101 of asset allocation in today's episode of Ringgit and Sense. To learn more please visit www.franklintempleton.com.my/helloprogress/See omnystudio.com/listener for privacy information.

The pandemic has seen a boom in small businesses as many people started their own businesses ranging from baking to selling clothes to ICT services. While many have found new opportunities in this wave of new entrepreneurial strides, there's a lot of considerations to be had. One such is taxation. How can you make a better tax plan for your business? Why should you set up a sendirian berhad or open up a business bank account instead of using your own personal bank account? Tax expert Thanneermalai Somasundaram of Thannees Tax Consulting Services shares some advice. Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

The past two years of Covid-19 and recent spate of terrible floods has shined a spotlight on the need to protect yourself from unforeseen circumstances, whether you are a business owner, home owner or car owner. Antony Lee, the Chairman of the General Insurance Association of Malaysia (PIAM) joins Sim Wie Boon on Ringgit and Sense to discuss the importance of insuring your property against natural disasters and what you need to know about it. Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

Chinese New Year is around the corner and in conjunction with that, Sim Wie Boon speaks to Master Kenny Hoo of Good Feng Shui Geomantic Research for a Feng Shui perspective on how to spend your money in this year of the Water Tiger and what are the dangers to look out for. Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

Have you asked for a raise or promotion in your job recently? Do you plan to? How much would you ask for? On this episode of Ringgit and Sense, Sim Wie Boon speaks to communications coach Indira Nair about asking for a bump up in your salary or position from your boss. They discuss the culture around it, the different perspectives towards it and ways to approach it. Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

Can someone without a finance certificate manage their own investment funds well enough to build up a comfortable retirement nest or even generational wealth? Former fund manager and author of the book Be Your Own Fund Manager, Lim Mei Ching believes so provided if you apply both fundamental and technical analyses, coupled with strict and disciplined portfolio management skills. We speak to her about her latest book to find out more. To get her book online, visit: MPH Link or Shopee LinkImage credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

As investors grow savvier, more Malaysians are open to trying out new investment vehicles to grow their portfolios. While not a new form of investment, Exchange-Traded Funds or ETFs have been growing in popularity thanks to its growing reputation among investors for being conveniently tradable and having relatively lower management fees compared to mutual funds. So what exactly are ETFs and how should they be positioned in your portfolio? Tune in to find out. Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

We recap some of the most interesting conversations we’ve had on the show, including budgeting for your wedding, Buy Now Pay Later, the mental health impact of bankruptcy and the recent EPF withdrawals. Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

Sim Wie Boon speaks to Wong Wai Ken, Malaysia Country Manager, for the robo advisor Stashaway about thematic investments. They'll be discussing why thematic investments have become more popular in the past two years, what are the risks and opportunities associated with thematic investing and how to assess a theme. Image credit: Unsplash.comSee omnystudio.com/listener for privacy information.

As a result of Covid-19 related withdrawals, almost half of the EPF members have less than RM10,000 left in savings, and 3.6 million of them now have less than RM1,000. These shocking figures point towards the likelihood that Malaysia will experience a huge problem with a majority of its lower to middle income elderly living in poverty in the coming decade. So what do we need to do to address this issue? Sim Wie Boon speaks to Balqais Yusoff of EPF about the impact of Covid-19 on EPF withdrawals and the looming retirement crisis ahead. Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

The year is ending and it's time to look back and do some financial upkeep. What are the financial checklists you should cross off before we close the year off? Steve Lim of Affin Hwang Asset Management talks to Sim Wie Boon about this. Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

Do you remember your first car? What went into the decision to buy that specific car? Was it the price? The look? Or a decision made by your parents? Daniel Fernandez of dsf.my and BFM's Cruise Control talks to Sim Wie Boon about buying your first car and what should be the considerations to make when deciding to buy one. Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

A recent nation-wide survey conducted by Luno Malaysia aimed at understanding the financial management habits of everyday Malaysians found that more than half of Malaysians say the most important purpose of having money is to safeguard their family’s long-term well-being, meanwhile nearly a third of them were more inclined to seek financial advice from family members or peers compared to more professional sources. So how exactly do Malaysians view wealth? We find out on this episode of Ringgit and Sense. Image credit: ShutterstockSee omnystudio.com/listener for privacy information.

Having a child can be expensive. Even before you lay eyes on that bundle of joy, you're probably already calculating the cost of seeing the doctor, having the baby, staying at the maternity ward and the post martum care itself. And that's just the first few months, what about when the kid grows up? Education, hobbies and whatnot will cost alot money. So where do you begin? How much do you have to save? In conjunction with World Children's Day happening on November 20, Sim Wie Boon speaks to licensed financial advisor Annie Hor on how to save for your child. Image credit: stockunlimitedSee omnystudio.com/listener for privacy information.

Budget 2022 is the largest budget to date at RM332.1 billion. According to the government, no sector has been left out and it will help each and every Malaysian. So what’s in it for you? What should you keep an eye out for? Thanneermalai Somasundaram of Thannees Tax Consulting Services explains. Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

One of the toughest jobs in the world is being a parent, so it’s doubly hard as a single parent. Apart from work obligations, household chores, and looking after the kids, usually all of the financial burden falls on the single parent as well. So how would a single parent financially plan for the future?  Sim Wie Boon speaks to licensed financial planner Gunaseelan Kannan, from Blueprint Planning to get his thoughts on the matter. See omnystudio.com/listener for privacy information.

Have you ever been asked to be a guarantor for someone else’s loan? Often it is a partner or relative who asks, but nowadays it can also be friends or work colleagues. Usually it is difficult to refuse and you would be surprised at just how many of us often agree to be one without thinking of the long term consequences. Farah Razali of Zul Rafique & Partners shares some advice on the risks and consequences that comes with being a guarantor. Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

It’s a wonderful thing to be able to say you are newly debt-free. Paying off your debt is like being handed a blank piece of paper on which to write the next chapter of your life. But while many of us aspire to be debt free, the reality is that most of us will have to live with debt until old age. Is this a bad thing though? How can you make debt work for you and live with it positively? What are the important factors to consider when in debt? Felix Neoh of Finwealth Management answers all these questions. Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

Filing for bankruptcy can feel like you’ve hit the financial equivalent of rock bottom. While it does wipe out your old debt, bankruptcy is a mark on your credit record and it can affect one’s emotional and mental health as well. But it is important to remember that bankruptcy is not the end of the road and there are ways to get out of it. Nirmala Subramaniam of AKPK and licensed professional counsellor Heeran Kaur speaks to Sim Wie Boon on this. Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

People are living longer than ever, thanks to modern medicine and advances in technology but this has brought about a new dilemma as children born of older parents are often faced with an unexpected cost down the road: becoming a young caregiver. Taking care of your parents is not an easy role. And even if you're not the one directly providing the care, it can lead to emotional and financial stress. In conjunction with International Day for Older Persons, Sim Wie Boon speaks to Rajen Devadason of RD WealthCreation and Linnet Lee of FPAM to get their advice on how to budget for the care of your elderly, what are the considerations and why is this important. Also, for more information on Malaysia Financial Literacy Month and other related events, please refer here https://smartfinance.my/, here https://www.investsmartsc.my/, and here https://worldfpday.org/global-events/ Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

Key highlights from our Ringgit and Sense webinar touching on the importance of investing, how it fits in with your financial planning, the types of asset classes to choose from, and some tips on how to pick stocks. For the full conversation, check out the FB Live session here: https://www.facebook.com/BFMradio/videos/536760667585566 Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

What are some of the financial planning lessons to take away from the pandemic? How do you build yourself back up after losing your savings and what are the common mistakes made during the financial crisis triggered by Covid-19? Should you have taken the moratorium or even dip into your EPF? Licensed financial planner Joyce Chuah answers all these questions and more with Sim Wie Boon on this episode of Ringgit and Sense. Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

The rise of robo-advisors has taken the world by storm and grown in popularity especially with millennials and Gen Z. But as exciting as this development has been, is it the be all, end all financial solution? What of the human touch? Sim Wie Boon speaks to licensed financial planner Yap Ming Hui of Whitman Independent Advisors for his views on the limitations of robo-advisors and how to better integrate it into your investment portfolio. Image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

What is Financial Independence or Financial Freedom? Are they basically fancy words for retirement? Roshan Kanesan gets into all this and more with writer Aaron Tang, founder of Mr-Stingy.com, and Stephen Yong, Licensed Financial Planner with Wealth Vantage Advisory. Roshan also explores their views on how to achieve financial freedom, thoughts on the FIRE movement and the 4% rule, and ‘Why Retire Anyway?’. Other episodes to check out: > 5 Steps To Jumpstart Your Retirement Planning > No Risk, No Retirement? > Wealth Protection, Accumulation, And Distribution: What, Why, And How? > Mr. Money TV On Retirement Planning, Compounding, and MistakesSee omnystudio.com/listener for privacy information.

Balancing your portfolio means setting up a portfolio that fits your individual risk tolerance and investment goals. But it isn't enough to just "set it and forget it." You also need to make sure your portfolio stays balanced, which is known as rebalancing. Roshan Kanesan explores the importance of asset allocation and portfolio rebalancing with Rajen Devadason, Licensed Financial Planner with Manulife Investment Management Malaysia Berhad. Among other things, they get into the Rule of a 110, methods of rebalancing, common mistakes, and whether events like a market crash should trigger us to rebalance. Other episodes to check out: > Bitcoin and Roboadvisors: How Do They Fit In A Portfolio? > Why Do You Need Different Assets In Your Portfolio? > Is Gold Still A Stock Market Hedge? > 5 Things You Should Know Before Buying A StockSee omnystudio.com/listener for privacy information.

Buy and Hold is simple, but can go incredibly wrong as investors of Enron or Blockbuster Video would know. And with current stock market valuations bringing back Dotcom parallels, some are worried that the next bubble pop could be around the corner. Roshan Kanesan dives into how to invest for the long term with fund manager Jack Kouzi, Director of Australian Financial Services Licensee VFS Group. They get into not just surviving the bubbles but also thriving regardless of where markets are heading or how volatile things get. Other episodes to check out: > Why Does The US Federal Reserve Matter To Malaysians? > 5 Things You Should Know Before Buying A Stock > Fund Manager’s 5 Key Investing Lessons From 2020 > Mr Stingy's 10 Investing Principles > How To Invest While Managing Anxiety?See omnystudio.com/listener for privacy information.

What should you watch when looking at bank stocks? When it comes to the stock market investing, the banking sector can be an attractive one for a variety of reasons including yield, but not all banks are created equal, so as a budding, rising, or experienced investor, what should you watch when looking at banking stocks? Roshan Kanesan explores this with Liew Wai Hoong, Banking Analyst with RHB Research. They get into the main income drivers of a bank, the key financial metrics and factors to watch, and whether banks are for dividends, capital gains, or both. Other episodes to check out: > 5 Things You Should Know Before Buying A Stock > How To Analyse And Choose Good REITs > How To Analyse Property Stocks In Malaysia > Fund Manager’s 5 Key Investing Lessons From 2020See omnystudio.com/listener for privacy information.

Insurance is a vital pillar of personal finance, but what if for some reason, you can’t get insurance? How does this change your financial planning, and more importantly, how do you then prepare and protect yourself? Roshan Kanesan explores this with VP Thanga, Executive Director and Licensed Financial Planner, with Blueprint Planning. Other episodes to check out: > Life & Health Insurance: What, Why, And How Much? > Wealth Protection, Accumulation, And Distribution: What, Why, And How? > 5 Steps To Jumpstart Your Retirement Planning Background image credit: Shutterstock.comSee omnystudio.com/listener for privacy information.

Following up from our episode last week on BNPL - or Buy Now, Pay Later - today on the show Roshan Kanesan expands the conversation on credit and debt, and take a look at what good debt management looks like with writer Suraya Zainuddin of ringgitohringgit.com and Licensed Financial Planner Idham Idris from Wealth Vantage Advisory. Other episodes to check out: > Buy Now, Pay Later: Good, Bad, or Complicated? - > Wedding Planning: Critical Advice, Common Mistakes, And Taking On Debt > Bankruptcy: Basics, Impacts, And Way OutSee omnystudio.com/listener for privacy information.

Buy Now, Pay Later (BNPL), easy credit to help with cash flow or a debt trap in waiting? Roshan Kanesan speaks to Idham Idris, Licensed Financial Planner with Wealth Vantage Advisory, and Suraya Zainudin, founder and writer at ringgitohringgit.com, to find out. Other episodes to check out: > Emergency Cash: How Much and How To Keep it > Loan Moratorium: Should You Opt-In? > Wedding Planning: Critical Advice, Common Mistakes, And Taking On Debt > Bankruptcy: Basics, Impacts, And Way Out See omnystudio.com/listener for privacy information.

Emergency cash buffers are vital, but how much do you need to set aside and where should you keep the cash? Roshan Kanesan explores this with Annie Hor, Licensed Financial Advisor with Harveston Financial Advisory. They also get into differences between savings accounts, fixed deposits, and money market funds. Image credit: Shutterstock.com Other episodes to check out: > Loan Moratorium: Should You Opt-In? > Wealth Protection, Accumulation, And Distribution: What, Why, And How? >  3 Fixed Deposit Alternatives As Rates Stay LowSee omnystudio.com/listener for privacy information.

Emergency cash buffers are vital, but how much do you need to set aside and where should you keep the cash? Roshan Kanesan explores this with Annie Hor, Licensed Financial Advisor with Harveston Financial Advisory. They also get into differences between savings accounts, fixed deposits, and money market funds. Image credit: Shutterstock.com Other episodes to check out: > Loan Moratorium: Should You Opt-In? > Wealth Protection, Accumulation, And Distribution: What, Why, And How? >  3 Fixed Deposit Alternatives As Rates Stay LowSee omnystudio.com/listener for privacy information.

So should you opt-in for the loan moratorium? Roshan Kanesan explores this with Annie Hor, Licensed Financial Advisor with Harveston Financial Advisory. They’ll get into how to make this decision, how to utilize this moratorium, and what this could mean for your payments later on. Image credit: Shutterstock.com Other episodes to check out: > Emergency Cash: How Much and How To Keep It > Wealth Protection, Accumulation, And Distribution: What, Why, And How? >  3 Fixed Deposit Alternatives As Rates Stay LowSee omnystudio.com/listener for privacy information.

Buying a property outright isn’t the only way to invest in property, REITs provide another, more diversified, avenue. Instead of buying one particular property, you can get access to the rental from a diversified pool of property depending on the REIT. Roshan Kanesan speaks to DBS’s Banks Derek Tan to learn more about REITs and the key things to watch before investing in one, from revenue generation and cost management to interest rates and other macroeconomic factors. Other shows you might like > Buying Property - First 5 Steps, 4 Common Mistakes, And More > How To Analyse Property Stocks In Malaysia > 5 Things You Should Know Before Buying A Stock > Active V Passive Investing: Which Is Better? > Wealth Protection, Accumulation, And Distribution: What, Why, And How?See omnystudio.com/listener for privacy information.

Earlier this year Aaron Tang, a.k.a Mr. Stingy, took another step in his personal finance journey and engaged a licensed financial planner. Roshan Kanesan speaks to him about: > How this has helped Aaron and whether it's been worth it > Whether he agreed with all the recommendations > What to watch if someone is thinking about getting a licensed financial planner > At what point should someone seriously look at a planner, considering the price point Other episodes you might like: > Mr Stingy's 10 Investing Principles > Mr. Stingy's Lessons From the Pandemic and Recession Investing > Money & Relationships With Mr. Stingy And ‘Ringgit Oh Ringgit’See omnystudio.com/listener for privacy information.

Financial literacy an ongoing process that can be a little daunting considering how much information is out there. So for some guidance here, Roshan Kanesan speaks to Aaron Tang a.k.a. Mr-Stingy.com, about how he learned about money, some of his favourite resources, and how he turns knowledge into actions. Other episodes you might like: > Mr Stingy's 10 Investing Principles > Mr. Stingy's Lessons From the Pandemic and Recession Investing > Money & Relationships With Mr. Stingy And ‘Ringgit Oh Ringgit’See omnystudio.com/listener for privacy information.

Financial literacy an ongoing process that can be a little daunting considering how much information is out there. So for some guidance here, Roshan Kanesan speaks to Aaron Tang a.k.a. Mr-Stingy.com, about how he learned about money, some of his favourite resources, and how he turns knowledge into actions. Other episodes you might like: > Mr Stingy's 10 Investing Principles > Mr. Stingy's Lessons From the Pandemic and Recession Investing > Money & Relationships With Mr. Stingy And ‘Ringgit Oh Ringgit’See omnystudio.com/listener for privacy information.

The most popular part of personal finance is the accumulation of wealth, but it's extremely important to think about how to protect the wealth you build, and how to distribute it when you’re gone. Roshan Kanesan speaks to Licensed Financial Planner Rajen Devadason to get a better understanding of how all this works together, its importance in your life, and things to keep an eye on. Rajen Devadason is a Licensed Financial Planner with Manulife Investment Management Malaysia Berhad. Other episodes you might find valuable: > Life & Health Insurance: What, Why, And How Much? > 5 Steps To Jumpstart Your Retirement Planning > No Risk, No Retirement? > What To Watch When Reviewing Your Investments And Insurance > How Do I Start My Family Financial Plan?See omnystudio.com/listener for privacy information.