Talking To Your Parents & Kid's About Money

1.Have an overview of all your parents assets


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

Be Patient With Yourself

  If you don't reach your goals the first time you try, don't see it as failure. Remember that you have learned something and will do better next time. The way to develop self-confidence is to know that, no matter what happens, you will grow from the experience.


  It is easy to become impatient and frustrated, but just imagine what life would be like if Thomas Edison gave up trying to invent the electric light after failing thousands of times. He had lots of ideas and the patience to carry them out. When asked about the attempts that didn't work, Edison allegedly said something like, " I didn't fail 10,000 times ; I just found 10,000 ways that didn't work. "

  Yes, as well as being patient, he was persistent, and the two do go together : One could say that you need to have the patience to be persistent, or vice versa. The real truth you have the answers or trusting your ability enough that you know you will find them. That is the essence of self-confidence.

  Self-confidence doesn't come from sitting on your hands and waiting for something to happen. It is about throwing everything you have against the wall and waiting ( patiently ) for something to stick. Then you have to take your time to refine your projects. For many, that is the hardest part of the process. Great innovators can be very impatient when it comes to the implementation of their ideas.

  Remember that when you are being impatient with yourself, there is no one who can defend you. Our self-imposed " Deadlines " really need to be changed to " Preferred Time Lines. " If you miss a deadline, it unconsciously creates anxiety because a part of your brain actually feels as though you will die if the job doesn't get done. That also happens when a person doesn't give you what you think you want, when you think you need it. Your mind is really telling you that you may lose something very important to you and that can cause some panic. When you are stressed in that way, getting anything done is more problematic.

  Practicing patience, by forcing yourself to take your time, can also be done by realizing how you react with people you are close to. If you are impatient with them it is likely that you will be the same way with yourself, and that shows a lack of self-confidence. Learn how to be more patient with yourself when life gets in the way or requires more time than you budgeted, by working harder on going with the flow. If you feel yourself starting to get antsy, take a patience pill by simply reminding yourself that Rome wasn't built in a day, and whatever you are involved in is worth the time you are investing.

  Patience may be a virtue, but if is also a necessity in achieving and living a self-confident life.


Johnny Kang -JK
  27 JAN 2011
   03 : 36 AM

Push Through The Upset

 
  You had a great plan for the day ahead. You even went to bed early so you could wake up with a little more energy to put to your project du jour, but something happened. Somewhere in the night, upset struck your unconscious, or perhaps you got an early morning phone call or nudge, and a problem you had not anticipated occurred. So much for your best-laid plans.


  When the unexpected happens, we usually get a little anxious ; sometimes we totally freak out. Again, whenever most people get derailed, their confidence is shaken, and they can change direction ( or just get lost ) and have difficulty getting back on track.

  Here's an alternate way to keep your focus and move forward in the process : Instead of putting your project attention, take the time to do what you were going to do in the first place. By not allowing yourself to be thrown off course, you are keeping control. If you can sit down and complete your goal, despite your current ( and most likely momentary ) circumstances, you will build your self-cofidence and won't lose any ground.
  Being able to focus, even though you are stressed, and get the job done gives you the knowledge that, no matter what happens, you can avoid internal musings and excuses. Doing what need to be done, regardless of temporary setbacks, will make you proud of yourself. It also produces a secondary positive outcome, which is a greater ability to focus on the problem that caused the upset, because you won't be thinking of what you haven't gotten done.

  You will also gain more clarity, and maybe even some additional ideas of how to deal with your dilemma while finishing the work you had planned to do. Any time you can use your unconscious to help you create some problem-solving skills, do it. We have all experienced getting better ideas once our minds are actually off a problem we are trying to solve.

  In addition, you may be able to channel your nervous energy into something much better. Just being frenetic and ignoring what you had planned to do doesn't help you or anyone else. But if those around you see that, even though the world is going to hell in a handbasket, you can still get the job done, then everyone involved feels more confident about you.

  Sometimes putting out fires can be a way of avoiding what you really need to be doing. So make sure the emergency is real and you truly are needed before you put your priorities on the shelf. The truth is that you do have the ability to get your homework done and save the world.


Johnny Kang - JK
   14 JAN 2011
    03 : 41 AM