The US deficit is $1.3 trillion dollars in 2010. How much is it?
http://www.creditscore.net/trillion-dollars/
Monday, November 1, 2010
Is the auditing of firms and other sectors that bad?
IN the wake of the recent global financial and economic crisis,
the role of audit was queried.
The audit model is not broken beyond repair, but it needs to be reworked.
http://biz.thestar.com.my/
http://biz.thestar.com.my/
Call for control on hedge funds
Managers want them to be regulated like other funds in Malaysia.
My view
Hedge funds are bad for the global economy. They should be controlled in the USA, Europe and Singapore, not just in Malaysia.
PDF centric website - TKL website
PRIZE: The two winners, selected by a draw, are C Yee and Chen WL. Thanks to all participants.
My website, www.tankinlian.com is designed as a PDF centric website. The new design has been operational for about three months. It attracts over 400 unique visitors daily. The vistors come daily to view the new FAQ and articles on insurance and investments that are uploaded into the website regulary.
I am able to create a FAQ or article easily using Microsoft Word and to convert it into a PDF. It takes less than one minute to upload the FAQ or article and to write a description. The easy of uploading makes it easy for me to cerate a dynamic and active website.
The PDF centric website is also convenient for my readers to search and read the FAQs and articles. They can download the PDF into their computer for offline reading or to have a hard copy printout. They can also forward the PDF by e-mail to another person.
I can add graphics and pictures to the PDF easily, if I wish. The content of the PDF document can also be located with a google search.
I hope that my regular readers are now familiar with the style of the PDF centric website and like this format. Please give your feedback here.
PRIZE: My Financial Planning book (retail price: $12) will be given to two lucky persons who replied to this survey (selected by a draw).
My website, www.tankinlian.com is designed as a PDF centric website. The new design has been operational for about three months. It attracts over 400 unique visitors daily. The vistors come daily to view the new FAQ and articles on insurance and investments that are uploaded into the website regulary.
I am able to create a FAQ or article easily using Microsoft Word and to convert it into a PDF. It takes less than one minute to upload the FAQ or article and to write a description. The easy of uploading makes it easy for me to cerate a dynamic and active website.
The PDF centric website is also convenient for my readers to search and read the FAQs and articles. They can download the PDF into their computer for offline reading or to have a hard copy printout. They can also forward the PDF by e-mail to another person.
I can add graphics and pictures to the PDF easily, if I wish. The content of the PDF document can also be located with a google search.
I hope that my regular readers are now familiar with the style of the PDF centric website and like this format. Please give your feedback here.
PRIZE: My Financial Planning book (retail price: $12) will be given to two lucky persons who replied to this survey (selected by a draw).
Can people afford to retire?
This article explains the need for governments in the West to raise the retirement age, where the state pensions scheme is funded on a "pay as you go" method which requires young workers to contribute towards the pensions of the retirees.
The Singapore government does not face this problem because it operates a provident fund scheme, where each contributor takes back his or her personal savings in the fund. However, the retirees in Singapore face the same problem of rising life expectancy and high cost of living - there is inadequate savings in the fund for their retirement. So, people in Singapore will have to continue working longer anyway as they cannot afford to retire.
But the elderly in Singapore face another big challenge - the elderly find it difficult to get jobs that pay a decent wage. They have to accept extremely low wage and even so, it is difficult to find these jobs. These challenge has to be addressed by the government, not just in words, but in concrete actions.
Tan Kin Lian
The Singapore government does not face this problem because it operates a provident fund scheme, where each contributor takes back his or her personal savings in the fund. However, the retirees in Singapore face the same problem of rising life expectancy and high cost of living - there is inadequate savings in the fund for their retirement. So, people in Singapore will have to continue working longer anyway as they cannot afford to retire.
But the elderly in Singapore face another big challenge - the elderly find it difficult to get jobs that pay a decent wage. They have to accept extremely low wage and even so, it is difficult to find these jobs. These challenge has to be addressed by the government, not just in words, but in concrete actions.
Tan Kin Lian
Inflation, savings and life insurance
A consumer told me that he is willing to take a life insurance policy if he can get back the total premiums that he has paid over a period of 20 to 30 years, without interest. He considers that he is getting good value from the life insurance and does not mind giving up the interest - so long as he gets the total premium back.
The consumer is not savvy and does not realise that over a period of 30 years, the value of money could fall by 50% to 75% of the real value, due to inflation. The real cost of the life insurance protection is only 20% of the amount of interest that he is giving away.
Read this article. http://tankinlian.com/admin/file.aspx?id=253
The consumer is not savvy and does not realise that over a period of 30 years, the value of money could fall by 50% to 75% of the real value, due to inflation. The real cost of the life insurance protection is only 20% of the amount of interest that he is giving away.
Read this article. http://tankinlian.com/admin/file.aspx?id=253
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