Bfm :: Ringgit And Sense

Signs of a recession are everywhere. From your groceries getting more expensive to companies looking to tighten their belts, it's crucial that you take this time to plan out your finances. This is especially important in the event that you lose your job. Stephen Yong of Wealth Vantage Advisory shares some advice on how to prepare for a recession and what to do if you get retrenched.Image credit: Shutterstock

A recent finding by UCSI showed that more than 70% of Malaysian youths are in debt with factors such as financial constraint, inflation and luxurious lifestyle being the main drivers. The issue of our youth falling in debt has been a long standing issue that seems to be growing year by year. What can be done about it and why are they falling into such perils? Nirmala Supramaniam of AKPK shares her thoughts on this episode of Ringgit and Sense. Image credit: Shutterstock

On today’s episode of Ringgit and Sense, we look at life after retirement, do you or do you not work? Do you have a choice? Because if you look at the numbers from EPF, it looks like many of us will have to work even after we pass the retirement age of 60. Licensed financial planner Joyce Chuah of Success Concepts comes on the show to talk about retirement and how you can un-retire yourself.Image credit: Shutterstock

2022 was an extremely difficult year for markets and no asset class really performed exceptionally well with exception for the US dollar. The 6.5 trillion dollars ETF industry saw their fund sizes shrink, no thanks to the sharp drawdowns by investors. So how did a robo advisor like StashAway, which primarily focuses on ETFs performed? And what are the expectations for 2023?Sim Wie Boon speaks to Stephanie Leung of StashAway for some answers.

About a month ago, RinggitPlus ran a survey last month and found that more than 70% of Malaysians save less than 500 ringgit per month or do not manage to save at all. Hann Liew of RinggitPlus comes on the show to share some thoughts on the highlights of the survey and why do Malaysians find it hard to save. Image credit: Shutterstock

This year we’ll say goodbye to the fierce and ferocious tiger and wave hello to the cautious and peace-loving rabbit. The rabbit has long been a symbol of longevity, peace, and prosperity in Chinese culture and with the global economy in the doldrums and political tensions still running high, will the rabbit bring much needed calm and tranquility? Master Kenny of Good Feng Shui Geomantic Research shares some insights and advice on how you can enhance your luck this year.

Have you ever made an investment and wondered what drove you to do it? What kind of bias or preconceived notions that led you to select a certain stock or asset class? Could it be your subconscious mind? K. Gunasegaran from Wealth Street talks to Sim about how your subconscious mind can impact your financial decisions.Image credit: Shutterstock

As the year kicks off to a start, Stephen Yong of Wealth Vantage Advisory comes on the show again to share his outlook for 2023 and the key events to look out for that might impact your wallet. Stephen gives some tips on how to start off the new year and how to prepare for the looming recession as well as what are the opportunities to take advantage of. Image credit: Shutterstock

As the year wraps up, we take stock of how 2022 has impacted your financial goals. Stephen Yong of Wealth Vantage Advisory talks about his year end financial checklists, how the various global events would have impacted our finances and the lessons to learn from it. Image credit: Shutterstock.com

We recap some of the most interesting conversations we’ve had on the show, including a series on money and relationships, scams, personal loans and how to cope with your finances when everything is getting more expensive. Featured interviews include:Dating And Money, What To Look Out For And What To SayThe Financial Conversations To Have Before MarriageMoney And Marriage: How To Make It WorkThe Cost of A DivorceDon't Be A Fool For ScamsPersonal Loans: When To Take It And When Not To What To Do When Everything Is Getting Expensive?Image credit: Shutterstock.com

Do you feel overwhelmed when it comes to money? Don't know where to start? Do you feel like you're on the wrong track? Suraya Zainudin, founder of ringgitohringgit.com seeks to address all these questions in her new book, Bergaji & Pokai. The book helps readers to navigate through the complexities of managing your own money with simple straightforward tips and fun examples. On Ringgit and Sense, she talks about why she wrote it and how she hopes it can help people in their own financial journey.Image credit: rawpixel.com / Freepik

Our conversation with PIDM continues about how they protect your money in case of an institution failure. Rafiz Abdullah of PIDM returns on the show to talk about how banks could fail and what happens to your money when something of low likelihood but high impact happens. Rafiz also shares what's on PIDM's radar when it comes to events that can threaten our financial institutions and how they are helping to build financial resilience amongst Malaysians.

Do you know what happens to all the money in your bank if a bank fails? Can you get it back? Or is it gone for good? Well luckily in Malaysia, banks are members of an institution called PIDM which protects bank depositors and owners insurance policies in the event of a member institution failure. Rafiz Azuan Abdullah, the CEO of PIDM talks about their role and what could cause a bank to fail.

In his latest book, Financial Freedom Investing, licensed financial planner Yap Ming Hui compiles his decades of experience in helping Malaysians achieve financial freedom. Sim Wie Boon dives into the book to unpack what the lessons are for everyday Malaysians to achieve financial freedom and the challenges in doing so as well as possible missteps to avoid.Image credit: Shutterstock

Estate planning is a vital but often forgotten element in a Muslim’s financial plan. We usually spend the most of our time building and protecting our assets but usually forget the last part which is legacy planning. According to the Malaysian Institute of Estate Planners, 80% of Malaysians do not possess valid wills, with many having no idea what happens if their wishes aren’t followed after death. Ahmad Shareza, Head of Islamic Wealth Management and Business Development from Maybank Islamic talks about the importance of Islamic estate planning, what are some of the issues that could crop up, and how Maybank Islamic Wealth Management can assist you.

As difficult as it may be, sometimes relationships don't work out the way we want them to be and unfortunately a divorce may be the last option for a couple. And while the emotional aspect can be painful, there is a financial aspect to consider as well. Who gets what and how will you go about it? Rozanna Rashid of Alpine Advisory shares some thoughts on the cost of divorce in Malaysia. Image credit: Shutterstock

How young were you when you first had experience with money? How was it? And how has it shaped the way you view money while growing up? Sim Wie Boon speaks to Alina Amir of Fund For Life on the importance of teaching your kids about money. Image credit: Shutterstock

The general consensus over the past few years, even before the pandemic, is that Malaysians generally do not save a lot. Be it because of structural issues or a lack of financial planning awareness, the issue is not to be taken lightly. In part of its journey to help Malaysians build financial resilience, PIDM has been conducting surveys and multiple engagements to help raise awareness on financial planning. Wan Ahmad Ikram Wan Ahmad Lotfi, Executive Vice President of PIDM comes on the show to share some thoughts.

Increased globalization and interconnectivity has opened up the world of investing to near unlimited opportunities. Yet, most investors in Malaysia have about 80% of their investments in Malaysian-based assets. On today's episode of Ringgit and Sense, Sim Wie Boon speaks to Matthew Stuart-Box of robo advisor MYTHEO about the importance of global diversification especially in today's uncertain environment.

Budget 2023 was presented by Finance Minister Tengku Zafrul focusing on economic recovery and resilience with a bill of RM372.3 billion, the biggest that has been tabled in Malaysian history. Unfortunately due to the dissolution of parliament several days later, we'll likely be looking at a different one when a new government gets elected. For today's episode of Ringgit and Sense, Sim Wie Boon speaks to tax expert Thanneermalai Somasundaram about Budget 2023, and what tweaks could be made to improve it. Image credit: Shutterstock