Photos, content outline and Q&A from Financial Hacks talk!
Introduction – PF Planning
- What is Personal Finances
- The struggle of today’s young adults with personal finances
- A Christian perspective on finances
- What is emergency savings
- How much emergency savings do you need? (quiz)
- How do you accumulate and place emergency savings?
- Why is risk management important (before even investing!)
- Knowing your risk management guidelines (activity)
- How to cover your risks (self & family, assets, will writing, estate planning)
- Money games
- Properties (why, how to start, faq)
- Equities (why, how to start, faq – shares/UT/PRS/REITs/index funds/etc)
- Digital/crypto-currency, collectibles & other investments
- How to get started (current performance, portfolio planning, diversification, etc)
- Personal finances require your attention & education
- Most importantly, find your purpose & set your goals
- Simplify your personal finances & grow towards financial freedom!
Q: Is MRTA/MLTA equivalent of 5 years mortgage payments sufficient for rental investment properties? There have been scenarios where the bank requires full payment of loan upon demise of borrower.
A: The person inheriting the property can discuss with the bank on option to service the loan or redeem the property. It also matters if it is a single or joint borrower.
Q: Is medical annual limit of RM70k sufficient? New medical insurance provides annual limits of above RM1,000,000.
A: The medical annual limit of RM70k is the minimum recommended coverage. If budget allows, higher medical limits including unlimited lifetime limits would best for most.
Q: How much do I need to start investing in the stock market locally or overseas?
A: A good amount to start with would be 10k in the currency the market is in (e.g. RM10k in Bursa Malaysia). You can place the starting amount in progressively over a period (e.g. 1 year)