Basics of Personal Financial Planning (5-Day Workshop)

Basics of Financial Planning is a must for those who want to increase their financial literacy. It is a 5 days’ workshop covering topics such as Economics, Insurance, Taxation, investment and Estate & Retirement Planning.

Start

March 23, 2019

End

March 23, 2019

Address

KDU University College Utropolis Campus, Glenmarie, Jalan Kontraktor U1/14, Seksyen U1, 40150 Shah Alam, Selangor Darul Ehsan, MALAYSIA. View map

Start managing your money. Learn the keys to manage your personal finances. Set your own goals, plans and budget

Basics of Personal Financial Planning

Course Outline:

Day 1: Time Value of Money & Financial Analytical Tools

The time value of money
Calculation of Returns
Loan Repayment & Amortisation
Personal financial statement analysis

Please note: Participants are required to bring their own Financial Calculator. Recommended models: HP 10BII+, or Casio FC100V or FC200V. HP10BII+ can be purchased from KMDC @RM212 per unit.

Day 2: Insurance

The Concept of Risk

Definition of risk
Categories of risk
Risk identification
Risk evaluation

Candidates will be introduced to the two broad categories of risks – “speculative risks” and “pure risks”, and the necessity of identifying and evaluating risks in financial planning.

The Management of Risk

Risk avoidance
Risk control
Risk financing
Risk transfer through insurance

Candidates should understand the various methods of handling risk including how risk can be avoided, reduced, eliminated, financed, retained and transferred through insurance.

The Insurance Industry

The regulators
Professional bodies
The operators

Candidates should have a good knowledge of the Insurance laws and how the regulators monitor the sound operation of the insurers. Candidates should also understand how the professional bodies attempt to maintain the professional standard of insurance agents and brokers.

Types of Insurance Cover

Life insurance
Health and disability insurance
General insurance
Commercial insurance
Islamic insurance

Candidates should understand the different types of insurance covers that are available and the ways in which these covers can be used effectively for risk management. Different types of insurance can be used to protect loss of income as a result of death, sickness or disability and to protect property loss due to fire or motor accident.

Day 3: Taxation

Income Tax Concept

Features of the Malaysian Tax System
Direct vs. Indirect Tax Structures
Basis of assessment
Residency Rules
Calculation of gross income
Deductions
Reliefs
Tax computation
Real property gains tax

In advising how financial goals can be better achieved through minimisation and deferment of income taxation, candidates should have a good understanding of the definition of income, types of income and how deductions and rebates can help to alleviate the income tax burden.

Income Tax Planning

Need and importance of tax planning
Tax avoidance and tax evasion
Tax planning for employees and businesses
Deferral of tax liability
Splitting of income
Managing losses
Maximisation of deductible expenditures of individuals and business forms

Candidates should understand that significant savings could be made through proper tax planning for employees and also for businesses. In addition, candidates should know the taxation treatment of insurance premiums and benefits.

Day 4: Investment

Concepts of Investment

Objectives and rewards of investing
Concept and advantage of portfolio investment
Definition of risk and importance of risk management

Candidates should understand the need for investment to achieve financial goals and the advantages of portfolio investment in spreading risk.

Primary Investment

Overview of equity market
Overview of debt market
Overview of the foreign exchange market
Overview of Islamic investment products namely banking products, investment products, Takaful (Syariah-compliant insurance) products and investment-linked products
Overview of the property market
Factors to consider in comparing primary investments

Candidates should understand the two basic primary investment markets – the equity market and the debt market – where investors make their own decisions and invest directly in them. In making decision, it is important to know and compare the difference in the risk-return trade-off for the different types of primary investments.

Managed Investments

Unit trusts
Real Estate Investment Trusts (REIT)
Investment trusts
Exchange traded funds (ETF)
Investment-linked insurance products
Private retirement schemes (PRS)

Candidates should understand the advantages and disadvantages of managed investments vis-à-vis primary investments. It is important to know the various types of managed investments so that financial planning professionals are able to select the ones that match their clients’ needs.

Day 5: Estate & Retirement Planning

The Retirement Planning Process

Estimate the amount of income needed during retirement – Income replacement and expense methods
Estimate the capital needs for retirement
Evaluate the current resources – EPF savings and Non-EPF savings
Formulate strategies for filling retirement income deficit
Evaluate other retirement resources – Private Retirement Scheme

Candidates should be able to estimate the amount of retirement income required so as to maintain a certain standard of living during retirement. They should be able to identify the resources available and should know the advantages and disadvantages of the various retirement planning instruments.

The Estate Planning Process

Definition of estate planning
Role of an estate planner
Techniques for preserving wealth
Role of life insurance in estate planning
Types of trusts
Taxation of trusts
Wills
Syariah Law in relation to estate planning

Candidates should understand that planning for conservation and distribution of accumulated wealth at time of death is an important part of overall financial planning and should be coordinated with other facets of the total plan. It is important that the candidates gain knowledge of the various techniques that can be used to preserve wealth.

Learning Outcomes:

Upon completion of this workshop, participants should be able to: –

Develop the necessary analytical skills required and the use of problem solving techniques and requires skill in processing and analysing data.
Differentiate types of investments and the risks involved.
Exercise more control over your various investment portfolios.
Better understand the concept of taxation.
Plan their retirement more comprehensively ensuring that they have enough well into their golden years.

Who should attend

Anyone who would like to learn to or have a better understanding of how to better manage their finances in these uncertain economic times.

Facilitator: Jack Lin

Jack Lin obtained his Bachelor of Business Administration in Financial and International Business from Western Michigan University, USA, and holds a Master’s Degree in Business Administration, Open University Malaysia. He is also a Certified Financial Planner (CFP), Registered Financial Planner (RFP), Shariah Registered Financial Planner (SRFP). He has over 10 years of experience in banking, in the area of wealth management.

Jack has taught a variety of finance and financial planning subjects, such as basic financial management, international banking and finance, investment planning, estate planning, retirement planning, for professional course as well as the undergraduate program. With his theoretical knowledge and practical work experience, he regularly trained and coached life insurance and unit trust agents in sales. Currently, he is attached with a premier insurance company as Agency Manager. As a believer of financial planning, he has adopted the financial planning approach to plan for his client’s wealth being.

Date, Time & Duration:

Intake 1: Saturday, March 23, April 20, May 4, May 11 & May 25, 2019, Time: 9am to 5pm

Intake 2: Sunday, September 22, Oct 13, Nov 3, 17 & 24, 2019, Time: 9:00am to 5:00pm

Venue:

KDU University College Utropolis Campus, Glenmarie,

Jalan Kontraktor U1/14, Seksyen U1, 40150 Shah Alam, Selangor.

Location map HERE GPS Coordinates: 3.092604, 101.559762

Fee (HRDF Claimable):

RM1166 per participant

Promotion: Group of 2+ & Early Bird Promotion* @RM950 per participant.

*Early Bird Promotion ends 10 working days before the commencement date.

Register NOW!

Download Application Form CLICK HERE.

Submit your form with proof of payment or company’s letter of undertaking to KMDC: start@kmdc.com.my, Fax: 603 5565 0797.

KMDC’s RHB Bank Account Number: 212 349 000 543 53 (KDU Management Development Centre Sdn. Bhd.)

In-House Customised Workshop:

All our training programmes can be customised and offered as In-House Training Workshop. To inquire, call: 03- 5565 0793/0798 or email: start@kmdc.com.my