Peter The Planner » Family-Affairs

My birthday!

Peter Lim — Sat, 03 Oct 2009 05:46:46 +0000

For many years, i had celebrated my birthday with my friends or girlfriend and i can’t remember when was the last time that i celebrated with my family members? Well it is not that we are not close but because my family doesn’t have the culture of celebrating for one another.

However this year is a very special year for me as i am going to celebrate my 28th birthday together with my whole family by having picnic at the beach. It’s including my 4 cute nieces and 1 new born nephew =) What is even unique is that this year my birthday falls on the actual Mid-Autumn festival (zhong jiu jie) Personally it means a lot to me as it’s my first time celebrating with my entire family.

If my memories never fail me, the last time i celebrated with my sibling was during my childhood time and it was without my parents as they were busy working at that time.

Well i’m not blaming them because without them i will not be where i am today. It’s just that the feeling of celebrating with family is quite different from friends.

For me, i make it a point to have dinner with my few groups of close friends every year because i believed that best friends are hard to come by and we must make effort to maintain contact. Again that is why this year is quite special to me. We went to Hardrock cafe for a good dinner and chill out. Here is the pic of my group of friends whom i known them since 10years old =)

Well enough of saying how special is my birthday and i like to share about my birthday wish here! I heard many saying that if we share our birthday wish then it will not come true. Anyway none of my wishes ever come true all these years hence decide to take a different approach

From today till next year my birthday, i want to have a break-thru in all aspects of my life. In work, i want to build up my team of 10 consultants and to have at least 60% doing well. In family, i want to be able to provide $1k per month for my mother as pocket money. For my health, i aim for a well-toned body and able to run for another marathon. Lastly in my relationship, i like to establish more stronger relationship with my clients and friends by calling them more often to build ties. Not planning to seek for a girlfriend because i believe strongly in fate. What is yours is yours. No need to seek high and low for it =)

Group shot!

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Touching Insurance Ad (2)

Peter Lim — Thu, 01 Oct 2009 07:00:41 +0000

Touching Insurance Ad ...
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36hrs of Sales Training!

Peter Lim — Fri, 25 Sep 2009 01:06:12 +0000

I just attended Merry’s Sales Mastery which lasted a total of 36 hrs over 3 days! If there is anything that i can describe, the word would be ‘Awesome’

Learnt alot of new things from her and also had a good refreshment lesson. I am going to apply what i have learnt into good use. Otherwise i will have really wasted my precious 3 days at the training. In fact, in all the other seminars that people attended, only 5-10% of people will apply what they have learnt! Of course these people are the ones that become successful. Is it by chance or by choice? It’s definitely by choice and this time round, i am determined to make it my choice too =)

Really felt very lucky to be able to have a such a dynamic and good trainer as my mentor and i believe that without her guidance and teaching, I will not be where i am today. Seriously if i can say the best thing about our agency is that we have a team of committed managers who are always there to provide good training for all people. All these are done without being paid for. Everyone works because they wanted to bring out the best in everyone. It’s hard to find such an agency these days and i will treasure what i have now.

Anyway I will blog about what i have learnt in coming posts so hope you guys can stay tuned over here!

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Thai Ad: ‘My girl’

Peter Lim — Mon, 21 Sep 2009 04:17:19 +0000

Just happened to come across this video and i think it is quite interested to show the concept of love and insurance =) It is meant to take care of your loved ones.

Enjoy!

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Whole Life Insurance

Peter Lim — Sat, 19 Sep 2009 04:00:55 +0000

Whole life insurance plans provide you with lifelong protection. Your premiums at the beginning are higher to help cover the costs of providing you that protection later in life when term premiums get costly. The company averages out the cost of giving you life insurance protection for your entire life, then overcharges you when you’re young and undercharges you when you’re older.

Whole life policies build cash value which you can take a loan by pledging with your policy from the company or redeem by cashing in the policy. However do note that the outstanding loan amount will be deducted with interest from the payout should there be a claim.

Advantages of whole life generally include the tax-free interest you earn on your cash value. The interest charged on the loans on the cash value of the whole life policies are generally less than that charged for similar loans available elsewhere. However I wouldn’t encourage customers to go into this option as it will compromise on their sum assured in the end.

Regular premium payments must be made on whole life policy or the policy may lapse. Outstanding loans when you die will be subtracted from the amount paid to your beneficiaries. Cash value grows relatively slowly during the early years of the policy. This means that if you cash in a whole life policy after only five years, you get relatively little back for the relatively higher premiums you’ve paid.

Whole life is best if you have no self-discipline or tolerance for risk when you save or invest. Another word it is suitable for low risk/conservative consumer.

It is best to be bought during young because the premiums that you paid will ‘fetch’ a higher sum assured and most importantly you are guaranteed insurable if you are healthy at the point of time.

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What is your Addiction?

Peter Lim — Thu, 10 Sep 2009 17:01:05 +0000

As I was sitting down on the train, I was looking around at people who are either blasting their mp3 to torture their ears or those who are so engrossed playing their psp. From the way I look, they are addicts!

They are addicted to their mp3 or psp all day long and some just can’t live without it. So it brings me wondering how many of us are addicted to saving money or investing? Supposed you have this ‘addiction’, I am sure that you be one of the richest person on earth. Imagine being addicted to saving, seeing the figures in your bank account jumping every month will simply gets you very excited! I believe that it will become a very good habit which will get you many opportunities in the future. Eg: with money, any investment/business opportunity would be possible for you or in times of crisis, you are well-prepared.

For all kind of addictions, remember that it is always good to keep a balanced. I need to say that you can’t possibly eat bread everyday just to make sure that you save up money or you keep your hair till quite long so that you can save abit on haircut. In life, many things are meant to spend and we are also supposed to simulate the economy by spending some money. Friends told me that if one keep saving money and never pamper himself, he/she will be known as ’stingy’!

So after reading this, i wonder how many of you actually will change your addiction to love saving money? Do drop a msg if you really do. I love to hear from you =)

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Good friend!

Peter Lim — Mon, 31 Aug 2009 17:47:36 +0000

What is your definition of a good friend? Someone who will do anything for you in all situations? Someone who can listen to your complaints all day and be there to support you or Someone that goes clubbing and hang out with you all the time but when he/she has a partner, you are no longer part of his/her life?

In my opinion, we dont’ need many good friend. Jsut 1 or 2 will do and that is enough. Having many friends is good if you need to network but there is no point if none of them are willing to lend a helping hand when you are in trouble and most importantly leaving you when they have partners.

Such friendship needs time and effort to create and I have to admit it takes ‘opportunity’ to really take a look who are those that care for you. Such friends are hard to come by and we got to treasure it. Never ever take them for granted because what goes around comes around. A person has no obligations towards anyone therefore whatever this person do is purely out of goodwill.

Of course it takes two hands to clap therefore you got to be good to your friend first before you can receive anything. For those people who thinks that by having girlfirend is everything, I think it is totally wrong! There will come a point of time where you don’t have girlfriend and you realise how lonely you are. I have many friends who experienced it so don’t try =)

I’m very lucky to have a very good buddy who is always there for me when i needed him the most and he has always done many things that is unexpected of him. I am quite touched by all his actions to me especially when those days where i am at my lowest point of my life. He was there for me! At the end of the day when you know you have such friend, you realised that you only need 1 to make you the most lucky person!

To people out there, please treasure the friendship you shared with and find out who is your good friend. We live our life once and friends come and go. If you can find the one good friend, stick with him! I am sure it is better than having 10 normal friends =)

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Gym Experience – Habit

Peter Lim — Mon, 10 Aug 2009 05:08:31 +0000

This morning was a good start for me because the weather was so cooling and i thought it was a good time to hit the gym to get my momentum back to train for my marathon. During my training just now, i was kind of motivated by the people around me. There are alot of young people working hard to train their muscles and all are looking good. Well i mean i went through similar phrase last time before i started my working career =) It is just that due to busy schedule, alot of training will have to be delayed. But having said so, it just reminded me again of our financial situation in life.

When we were young, we are able to save money most of the time because of no commitment. As we get our pocket money from our parents, they will encourage us to save 10-30% into our piggy bank. Such practice it’s very good because it instills the idea of saving up for long term. As we grow up and start our working career, many times we will be having problem saving up despite the fact that we are earning few hundred times more than what we are getting for pocket money. Why is that so?

The reason is simple: we lose the habit of saving because we have other wants and lose focus of saving for long term. As we grow up, our commitmentsget more and more. Resulting the fact that we are left with little money to save each month. Actually to curb this problem is quite simple. HAVE A SIMPLE LIFESTYLE! We can save a lot when young because we are simple. We buy sweets and our price of food is cheap. Therefore when you grow up, so long you don’t indulge in luxurious lifestyle i believe it is not difficult to save.

Another thing other than a simple lifestyle is to have the habit to save FIRST spend LATER! Many working adult forget this super simple formula and as a result there are always the one that find themselves having problem at month end. Actually saving 10% of your income is just like running 3km every week. Once you cultivated this habit, you can start to save more next time because you are motivated by the fact that the amount inside your bank account is increasing month by month. Same thing is like if you find yourself not feeling tired after 3km run, you will naturally want to run more to push yourself to a higher limit!

If you feel good being fit, then i am very sure you will feel even better when you see 5 digit worth of saving in your bank account! Am i right? =) Therefore i have decided to hit the gym every Sat morning for at least 1 hr to get the habit of working out and training for my marathon! Let’s work hard together to get ourselves and our financial muscles to pump up again!

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HAPPY NATIONAL DAY S’PORE!

Peter Lim — Sun, 09 Aug 2009 03:31:55 +0000

I want to wish Singapore a happy and properous national day! Do check out the live NDP if you have time to go out to feel the atmosphere =) or if not staying at home may not be a bad choice since there will be also a nation wide broadcast of the NDP parade.

Must please make sure that you are free at 8.22pm to recite the our National Pledge! =) Take care and enjoy your long weekend!

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Why you should avoid saving plan first?

Peter Lim — Fri, 26 Jun 2009 18:20:51 +0000

Recently i have been doing a couple of prospecting session together with my agents and again i met alot of people having the same problem. What is the problem then?

Yes, the problem was that most of them are having a regular endowment saving plan from insurance company as their first policy! Some of them even took up a saving plan that amounts to 20% of what they take home. Personally i find it being too ridiculous to pay so many for a saving plan when the person has not even taken up any life insurance!

Guess this is what happen if a person buys a plan off the street without a overview of his/her financial situation. Some consultants will make sure of their ‘charm’ to ask customers to buy big amount of saving policy when they are young, claiming that the more you save the more you will get for retirement. While this is true but it only applies if you have settled for the wealth protection of an individual. Imagine how can one effectively builds up his/her retirement when he knows that the moment he is struck with illness, all the so-called money will be gone! Hence in my personal opinion, an individual should always meet up with his/her financial planner a few times before deciding on a policy and most importantly, get a life insurance or hospitalisation policy before anything else comes along.

Another reason why people will buy a saving plan first is also because some unethical consultants instill the idea that by getting a saving plan, they are comparable to a normal insurance as they also gives some life coverage. While it is true that saving plan comes with insurance coverage but they have to understand that the amount of insurance is too little to be enough for a person’s coverage. An ideal coverage should take up 10 times of the person annual income so anything less thatn that, it will be considered under-insured.

Saving plans are good but it will come in useful only when you have enough money to start preparing for your future! Before that, please get a life policy which can cover you for death, disability, major illness, accident & hospitalisation benefits. Hopefully by reading this story, people out there will be more cautious on getting a saving policy first! If you still need to find out more, please consult me @ 96157116

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