While by now, almost everyone people would have know that Michael Jackson has passed away, some might not realize the money mess that MJ, king of pop have left behind. If you want to list them down, you will end up with quite a number of things he did not do to set his financial house in order.
Here is the list:-
The one thing MJ did right was to purchase the catalog of Beatles songs when he had the money to do so and that actually kept him afloat and might be enough to leave behind a financial legacy of sorts. I say “might be” because we still do not know his actual net worth until the dust settles.
What can we learn from this?
July 10, 2009 No Comments
I saw this survey on CNN Money. The survey in which 8,278 people took part, show that 33% don’t have any savings. 25% can live between 3-6 months (not bad) and 42% can live over 6 months (good). Based on the number of respondents, I think the data should be quite representative of the actual population. However, these are people who come over to read CNN Money.
If you live a simple life, then probably you can extend the time you can live on you savings. I wonder what’s the percentage here in Malaysia?
How about you? Have you checked how many months you can live if you lost your job? There is no hard or fast rule here and usually what people do is to total their fairly liquid assets i.e. cash, money in FD, unit trusts and shares, then divide this with their monthly expenses. Depending on what you want included, you might also throw in your insurance policies cash values, jewellery, or others that can be converted to cash.
If you are not sure how to calculate this figure or just want a second opinion, to assess your financial situation, give me a call or contact me through email here.
June 30, 2008 Comments Off
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May 19, 2008 Comments Off
Do you thing the rules of money have changed? We like to speak of the good old days where a bowl of asam laksa cost RM 2 or perhaps barley water cost less than RM 1. It seems like the rules of money have changed, but is it true? The rules haven’t changed but to a large extent, the financial situation around us has.
If you followed mom and dad’s advice to save 10% of your income [Read more →]
April 28, 2008 Comments Off
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