2.How much cash your parents have
3.Your parents total assets in Local & Overseas Bank
4.Your parents another assets, such as gold bars & properties
5.Ask about their income ( Passive, if they are retired and their expenses )
6.Get an understanding of their preferred retirement lifestyle
7.Get an understanding of their interest and activities to obtain an indication of how much money is needed
8.Ask about your parents liabilities, such as education fees, mortgages, family loans or debt from past business failures
9.You should identify your parents monthly expenses, and whether they need financial assistance
10.Should your parents need RM1,000 a month ?? You should responsible and able to discuss among themselves as to who should be assisting or how much each child should be contributing
Liabilities ??
When talking about their liabilities, you can inquire about any contract they have signed ??
Not to
While you talking about their liabilities, you may not and probably should not questions their decisions, do check if they are carrying liabilities that could be transfered to you.
Don't let your kids become a " money pit "
By the time kids primary & secondary school, they'll be pulling at the purse strings on a daily basis with request for everything from clothing to concert tickets. The advice is ; Don't Make it so easy for them. " If money is too easy to get, kids get the idea that they can have anything they want without caring about the family finances. "
Johnny Kang - JK
30 JAN 2011
08 : 20 PM
