Huan Yang

I was being lied to about my insurance policy

Did a property purchase recently and as part of the purchase, we need to get the Mortgage Reducing / Level Term Assurance to cover the value of property in case anything happen.

The agent insisted that the policies he gave are a must-have quoting me over RM4.8k-6k annual premium and told me that these are the only choices.

Luckily, as a financial planner, I started asking my licensed financial planner colleagues about the reasonable premium for this policy.

Do you know how much she told me? The fair amount that I should pay is just RM2.4k annual premium for the given coverage.

That's a whopping 100% difference in terms of annual premium I should pay for the same amount of coverage. I called the previous agent out for not being honest when it comes to our dealing

Here's the lesson that I have learned:
1. We have to understand whether our interest is aligned with the agent / vendor when it comes to insurance and investments
2. Always know your right as a customer, and always take your time to consider your options
3. Think win-win, if its lose-win, just walk away from the deal

Here's the best tip: Get a fee-based financial planner because he /she always put your interest first.

At wealth vantage, we have contacts of over 35 licensed planners with decades of experience in insurance and investment, and we compare 20+ products for our clients.

If you are interested in getting a licensed planner, PM me for a free discovery session where we explore opportunities to optimize your finances.

"I feel that my friends, family are more successful than me, one earning SGD, another already bought a new house and car" my financial planning client told me.

Me: "Well, why do you want to be successful?"

My client was surprised at my question. He paused and ponder about it.

Him: "Its just, when I see others having a high-paying job, new car, I would compare and think that I need that too"

When we say we want to be successful, what do we actually mean? Is it just having more "stuff"? Or is it time freedom? Peace of mind? Spending time with people you love? Or can it even be doing work that aligns with your values

Often times, you will find that the answer isn't to have "more" stuff. Rather, we need to identify what we value instead. Life is short, and it is here to be lived.

In financial planning, the first step of the 8 steps cycle is fact finding, my view is that the most important of all isn't your current cashflow or balance sheet, rather your life priorities and values. Having a RM1mil goal vs time freedom to pursue my interest will shift the conversation in 360 degrees.

With the right priorities in mind, we will finally steer the ship towards the right path

𝐖𝐡𝐚𝐭❜𝐬 𝐦𝐲 𝐡𝐢𝐠𝐡𝐥𝐢𝐠𝐡𝐭 𝐨𝐟 𝐐𝟒 𝟐𝟎𝟐𝟑? Being part of Malaysia's top Financial Planning firm, Wealth Vantage Advisory - WVA providing holistic financial planning services

Licensed by the Securities Commission and Bank Negara since 2018, WVA has over 40 licensed financial planners & associates to date. In fact, all of us are coached by the managing director himself, Mr Rafiq who generously shared his experiences and empowered us with the right tools and mindset

There are a few myths that I would like to address about financial planning:

𝐂𝐨𝐦𝐦𝐨𝐧 𝐌𝐲𝐭𝐡 #𝟏
A̵ ̵f̵i̵n̵a̵n̵c̵i̵a̵l̵ ̵p̵l̵a̵n̵n̵e̵r̵ ̵i̵s̵ ̵a̵n̵ ̵a̵g̵e̵n̵t̵ NO

Financial planners are advisors who represent you, the client. With aligned interests, we can advise our clients objectively based on their unique situation and walk alongside you towards your financial objectives.

𝐂𝐨𝐦𝐦𝐨𝐧 𝐌𝐲𝐭𝐡 #𝟐
I̵ ̵d̵o̵ ̵n̵o̵t̵ ̵n̵e̵e̵d̵ ̵a̵ ̵f̵i̵n̵a̵n̵c̵i̵a̵l̵ ̵p̵l̵a̵n̵n̵e̵r̵ NO

Think of Muhammad Ali, Datuk Nicole David and Datuk Lee Chong Wei. What do they have in common? A coach. Why does the world's top 1% of high performers have a coach?

With the guidance of a financial coach, you can identify what truly matters to you and develop a laser-like focus on your objectives. This clarity allows you to make better decisions, allocate your time and energy effectively, and stay on track towards achieving your desired outcomes.

𝐂𝐨𝐦𝐦𝐨𝐧 𝐌𝐲𝐭𝐡 #𝟑
F̵i̵n̵a̵n̵c̵i̵a̵l̵ ̵p̵l̵a̵n̵n̵i̵n̵g̵ ̵c̵o̵s̵t̵s̵ ̵m̵e̵ ̵m̵o̵n̵e̵y̵ ̵ NO

In fact, financial planning actually SAVES you money. When we engage a financial planner, the planner will compare your current protection policies and investments to maximize the savings you get for each dollar spent.

Then, we optimize your asset allocations to align with your different life goals such as marriage, starting a family, education fund, travel around the world and retirement.

The most important question now is this, 𝐚𝐫𝐞 𝐲𝐨𝐮 𝐫𝐞𝐚𝐝𝐲 𝐟𝐨𝐫 𝐚 𝐡𝐨𝐥𝐢𝐬𝐭𝐢𝐜 𝐟𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐩𝐥𝐚𝐧 𝐭𝐨 𝐥𝐢𝐯𝐞 𝐥𝐢𝐟𝐞 𝐨𝐧 𝐲𝐨𝐮𝐫 𝐨𝐰𝐧 𝐭𝐞𝐫𝐦𝐬?

𝐈𝐭'𝐬 𝐧𝐨𝐭 𝐰𝐡𝐞𝐭𝐡𝐞𝐫 𝐲𝐨𝐮 𝐠𝐞𝐭 𝐤𝐧𝐨𝐜𝐤𝐞𝐝 𝐝𝐨𝐰𝐧; 𝐢𝐭'𝐬 𝐰𝐡𝐞𝐭𝐡𝐞𝐫 𝐲𝐨𝐮 𝐠𝐞𝐭 𝐮𝐩

It was a great privilege to discuss and learn from the founder of J Advisory, Ka Hoe about his past experiences of writing and teaching financial education to well over 2,000 participants over 3 years.

His past experience has also taught me that financial mistakes can be extremely costly as it takes years, even decades to recover. One of them was overleveraging when he bought 16 properties (through joint ventures) in 3 months. To make matters worse, 4 out of the 8 investors decided to pull out, leaving them in massive debt.

Despite all these, he managed to pull through three different life crisis and founded J advisory to help people learn about money and avoid huge financial mistakes. Today, all of us are joining hands to help more Malaysians improve and take control of their finances holistically through Wealth Vantage Advisory.

If you would like to read about his 3 life crises and lessons learnt: https://jadvisory.asia/about-me/

To discover how financial planning can help you here: https://calendly.com/huanyang/financial-planning-discovery

She told me “I lost over RM 2 mil in stocks due to heavy investment into high-growth story stocks last year.” 🤯

Shocked, I asked her what the % of loss of her stock portfolio is, and she further shared "The portfolio is down about 80% from initial capital."

As a high-net-worth individual, she has gotten advice from bankers about different funds she can invest in. Yet, she experienced devastating losses, but what can we learn from her?

1. Portfolio Management Matters
Exposure to high-risk asset classes would cause harm to your portfolio. Yes, the upside looks good, but is your downside protected? Know how to cut losses, hedge, and have a proper portfolio plan.

2. Don't Chase the Hype
When emotions are high, logic is low. Investing in an over-hyped 'story' would destroy wealth due to greed. This has happened repeatedly, like the Tulip Mania and, more recently, the NFT bubble.

3. Recovery from loss is harder than winning
After losing 80% of your portfolio, recovering your capital will be an uphill task. To quote Warren Buffett when it comes to investing, "Rule 1: Never lose money, Rule 2: Never forget Rule 1

Let's say you have RM10, and you lose RM8, with the current capital of RM2, you will need a 500% return on investment to recover back your initial money, i.e. RM 2 x 5 = RM10 (assuming no more funds are added)

Hope the sharing above gave you some insights. If you would like more, I recently did a private sharing on financial planning and bonus stock that generated over 400% return since 2020, if you would like a recording of that video, comment "me"below.

“ I need an average RM 5.4mil to retire before age 50, how about you?”

How much do you need exactly on retirement age? Here’s a guide to creating a sustainable retirement budget that will help you plan for a secure financial future:

1. Calculate Your Retirement Expenses: Estimate the costs of living during retirement, factoring in inflation and any unexpected expenses. Use a retirement calculator to calculate your numbers.

2. Set Financial Goals: Identify the goals you want to achieve with your retirement budget and prioritize them.

3. Assess Your Income Sources: Analyze all your income sources, such as EPF, salary, or investments, to determine how much you will have available to fund your retirement.

4. Adjust Your Lifestyle: Make adjustments to your spending habits to reduce costs and put that money toward your retirement savings.

5. Monitor Your Progress: Regularly review your retirement budget and make changes as needed to stay on track with your goals.

Check out the retirement calculator to see if you are on track to a sustainable retirement budget: https://ow.ly/v1Rn50QatPM