Financial Planning is a process whereby one tries to determine his financial status, and set a financial goal and means to achieve the goal set.
As one old saying usually quoted – "if you fail to plan, you plan to fail."
To put it simply, without a proper financial plan, a person will not know his financial needs and wants now and the near future.
Overall, we will be more focus in our daily financial requirement and will have the meaning goal to strive for if we have good financial plan.
Why do we need a financial plan?
To organize and plan our financial requirement in a more orderly and structured manner, ultimately we need financial plan.
By having good financing planning, we can work out our objectives, policies, procedures, program and budget our financial activities, at the same time to ensure we have an effective and adequate financial measures.
The importance can be outlined as-
It enables us to have adequate funds.
We have a balanced inflow and outflow of funds and as a result have a stable cash flow.
Helps us in ensuring we have growth of funds and in the long run we can have better survival in any financial crisis.
It ensures that the surplus of funds are easily invested in instruments which generate good returns.
Eliminates any uncertainties with regard to changing market trends which can be faced easily through enough funds.
Reduce the uncertainties which can be a hindrance to any ventures we want to embark in.
Financial planning plays an important role in our daily life and we need to pay serious attention to it.
Financial planning will help us in a long run, especially in time of crisis.
What are the main components of Financial Planning?
Debt management
Risk management
Investment planning
Tax planning
Retirement planning
Estate planning
All things considered, if we follow the above six points to work out our financial planning, generally speaking, we do not even need to consult financial planner to devise a plan for us.
Investment Scams, is it common in today's environment?
How do we avoid investment scams during this COVID-19 pandemic when everybody is desperate to make more money?
With this COVID-19 pandemic creating havoc in everyone's life and businesses,
most people are affected badly,
some even lost their earning power,
some are short of financial resources and desperate to find ways to increase their income.
What people will do in desperate situation?
Some people are looking at ways to earn a living,
or improve their income,
others will think of investing in some financial instrument,
they hope this will be the way to go and earn more income.
Why do people invest?
With the bank interest rate at all time low, people will believe putting their money in the bank will not give a good return.
Human being by its nature, will always look for high return on investment.
Hence we will tend to look at investment instrument to boost up our returns and make more money.
Therefor in the eagerness to go after high returns on investment, people tend to forget the basic rules of investment.
The saying of Too Good To Be True especially those schemes which promised return of investment of more than 10% per month.
Some reports of the Investment scams and their methods
In the News published by The Straits Times of Singapore on 3rd April 2021, under the heading - Promised Big Returns, Only To Leave Many High And Dry.
The Straits Times reported that a total of 15,756 scams in 2020, and one of the scams involved cryptocurrency trading platform.
There are quite a few such platforms in Singapore.
MAS - The Central Bank of Singapore, more commonly known as Monetary Authority Of Singapore, does not regulated some of the platforms of cryotocurrency.
Even the Prime Minister of Singapore also said in his Facebook page that some platforms used his profile, see the link .
You can see those scammers will take whatever actions and tricks they can, in order to get people to invest in their platform.
Every day, we can read about people being scammed, and with internet now more popular, and easily accessible in everywhere, it is even easier for scammers to take advantage of human greed and cash in on this.
How do we detect and learn how to spot investment scams?
You may want to consider the following points:
1. Risk Factor
Every investment carries risk, and if someone tells you, what they offer do not have risk or very low risk, go back to the basic motto of investing -- Too Good To Be True.
What do you need to do when you come across such a plan?
With internet and other resources, if one come across such an investment plan,
do carry out your due diligence and research,
especially for those investments plan, which claim to offer very good return with low or no risk.
If this is being offered online,
you can not even meet up with the promoter of the plan.
it is advisable to just drop this plan.
2. Prove of track records
When someone promote their investment to you, and claimed they can generate good and high returns,
Please carry out the following steps to check
do ask them to show documentary proof,
that they themselves have used the same plan,
and generated so much profit,
Meanwhile to make sure the proof being shown are statement from a Trading House or Bank,
which showed the promoter account with the transactions,
if the promoter of the investment plan is not willing to provide such a proof of track records,
hence, it is advisable to walk away from such investment plan.
3. Regulatory Framework
For any investment scheme, we need to ask the following questions:
Is the scheme is approved and monitored by the Center Bank of the country?
where the investment plan is originated, are there any chances the scheme is a scam?
even if it is not a scam, can the investors get back their money?
Moreover, Is the investment money protected?
What happen in the event the investment go south and fail to generated the returns as promised?
4. Guaranteed Returns and Investment
If the investment plan promised guaranteed return and investment amount is protected, all the more we need to carry out a thorough due diligence.
Check with the relevant authority of the authenticity of the plan,
Who are the people behind the plan,
Are they on the white list or not.
5. Influence Tactics
Some plan will always tell you the offer is expiring in one or two days, if you do not take advantage of it, you will lose a lucrative return or discounts being offered, which on the surface of it, look like a good bargain if you invest now and can get an even higher return than promised.
This tactic is to take advantage of human perception that scarce opportunity is a good item, and should take advantage of it.
6. Referral Scheme.
Some investments scheme offer referral scheme, that is, if you bring in certain investors, the platform will reward you some monetary rewards, or certain percentage of the invested amount of the investors you bring in to the plan or scheme.
It is quite unusual for any scheme to offer commission to investors who bring in investors to the scheme, if it is a legitimate scheme, all they need to do is to just publish a prospectus and let those who are interested to invest in, no need to incur additional cost for the plan.
7. What Are Available For Investor To Verify.
In Singapore, one can always go to Monetary Authority of Singapore (MAS) website to check on the validity of the investor plan, and if it is an oversea plan, they always search on the net with website like the SEC alert list such as .
These are just some issues about investors scam which we should be aware of.
You only live once, thus, it is important that we do not waste our life savings to scammers, in our eagerness to generate more returns on our investment.
To understand more on what we can do to detect fraud and scams, perhaps you want to learn HERE
if you have any ideas or wish to share your experience, do share it below in the comments section below.
Investment, a word which make a lot of people think, this is how to have more money, and is the way to have more money and gain some income.
When Did Scammers Strike?
However, a lot of people have not been successful in their investment, especially during depressing environment, be it business, economic, health whatever.
Consequently a lot of people, in their desperation, try all sorts of investment methods, and ways just try to make money or recoup whatever is lost.
And this is the time, crooks and scammers thrive on human greed, and take full advantage of the vulnerability of human, as a result of which, this further make the investors lost more instead of recouping their losses.
According to Federal Trade Commission in its report stated that in 2020, they received more than 2.2 million reports about fraud, and about $3.3 billion was lost, you can read more about this in here.
Why People Fell To Scammers?
The problem is a lot of people think it will not happen to us, just like a lot of people think, they will not be infected with COVID-19 virus, even though they do not take the basic precaution, like wearing masks or wash hands often. If we have this assumption, and lay down our guard, or get greedy with some money making opportunity, we may regret our action later.
The crooks and scammers are much more sophisticated, with their intelligence, just wonder why don't they put their skills to good use, maybe they find it easier to scam, and con people, so they can make a lot of money.
So what are the usual or the latest tricks these scammers employed?
1. Too good to be true investment platform
A lot of times, some platforms claim they can generate return on investment way above the norm.
Some investors tend to believe this lucrative returns, and decide to invest, only to find out later it is just another Ponzi Scheme in operation.
Most of the time, investors do not bother to carry out some due diligence and find out more about the platform before investing.
2. You are approached to invest in certain investment plan.
When someone approach you and tell you, that he has a fantastic investment scheme, whereby, if you invest, you are able to make a lot of money, this is actually a red flag for you.
You should raise doubt about this too good to be true investment plan, sadly, a lot of people decide not to take more action to find out more about the scheme.
3. Use of the latest technology
Scammer usually have the following in their website:
Videos about their products or investment plan.
Testimonies in video presentation from supposedly successful investors who reap huge and handsome returns.
Upon seeing the videos, some people tend to believe the investment plan is genuine.
They will think this investment product can be trusted, unaware the crooks have created the videos just to impress people.
If one bother to check and do more research, they will find out similar videos have been shown in other investment plan too.
4, The Truth Secret of the Successful Investment Plan
If a marketer wants you to invest in the product he is promoting, and claimed that his method and technology is more advance and easier to make profit,.
What will you do?
Do you believe in him and jump in and give him money to invest for you?
Did you ask him what his secret is?
How is his method successful?
Whether he can show some proof to substantiate his claim?
If he refuses to show you some concrete evidence, that by using his method or technology, you can reap handsome profit in investment, you need to raise red flag, and be alarm of possible fraud and scam
5. The Most Vulnerable Group
Which is the most vulnerable group for investment fraud?
The group which is more prone to financial fraud, is the retiree group with huge sum of money, as they tend to make payment for one lump sum distribution.
We need to educate those retirees:
Not to hand over their money to someone,
Wary of some one who claim can help them to grow their money.
Fraudsters are good at evoking emotion, especially among the older retirees, to hand over their money in dubious decision-making.
6. Is there a thing called Secret Formula in investment?
if someone approach you to invest with him, claiming he has invented a secret formula in investment, and sure make money.
Before you jump into the opportunity, do the following:
Do ask him to show some hard evidence his secret formula has generated huge profit for him.
Ask him to show his trading records,
bank accounts statement showing he has made so much money
using his so called secret formula.
If he fails to do so, or is not willing to do so.
This is the sign you should just walk away from him.
7. Awareness of possible fraud.
The moment we accept the fact that we all are at risk to fraud, be financial, or otherwise, then we can safely say, we are at least at a certain level of awareness.
Who are the vulnerable group?
People who believe they are not vulnerable to frauds, and
these are the people who most likely fall into the trap,
After all they are not going to take necessary steps to protect themselves,
they are not aware and alert of fraud.
8. When Do Fraud Happen?
Fraud cases happen now and then.
It is more severe and rampant during crisis or disasters.
For example, the current COVID-19 Pandemic which has affected people from all walks of life, with people losing jobs, businesses badly affected and forced to close.
Why Choose Wealthy Affiliate as the platform for your online business?
Why choose Wealthy Affiliate? people may ask this question when you tell them about your online business.
Instead, I will just write a short note on why choose Wealthy Affiliate, as the platform for me to embark on my journey in online business.
I have been looking for one platform where I can learn, and at the same time, generate some passive income from online business, I have searched online about a lot of (internet) business platforms.
A lot claimed they help people to earn so much per day, some even conduct some training physically however need to pay a hefty sum in order to learn the basic.
What are the usual methods used by other GURUs?
The usual trick by all those who organized seminars before the COVID-19 pandemic are as follows:
Charged a few thousands bucks,
If you wanted to learn more advance skills, you needed to join a so called inner circle,
Inner circle members need to pay a certain fee per month to maintain the membership
These members can access to more advance internet marketing skills and find out the GURU's successful formulae.
Most people will agree, merely attending the seminar is not effective.
Usually a physical seminar organized over two or three days
However It only showed you, the very basic methods or introductory lessons on internet business.
Then what make Wealthy Affiliate different from the rest out there in the market, be it online or physical persons?
Well, I am looking at one platform which can provide continuous learning, also provide support whenever I have some questions or some issues which I am not able to comprehend, and which is not that expensive and affordable.
What Attracts Me To Wealthy Affiliate and Why Choose Wealthy Affiliate?
That is where I came across Wealthy Affiliate, and after going through the website, and studied what it had to offer, I decide to give it a try by signing up as an ordinary member, and going through the limited access of the training and so on.
After a few weeks of using the website as ordinary member, I decided to sign up as a premium member, now that I can access to more in depth topics and learn more, this is quite similar to attending an internet GURU seminar and you need to sign up as inner circle members to gain more.
However, the main different is Wealthy Affiliate is affordable, and before the recent upgrade of the platform, it was quite cheap.
As a Premium Member, one can have access to more topics and support from Wealthy Affiliate team,, especially the technical support team, even from the members who are ever helpful.
Since the fees per year is inclusive of the hosting and access to educational learning, so it is good that once one signs up, really focus on what are offered and learn as much as possible, go through the various training materials, and complete the assignments,
by completing the assignment, one would understand more about internet marketing, and how to make a living using this platform.
The ultimate aim is to achieve your goal of financial freedom and quality family life
What does the Wealthy Affiliate platform offer?
You can find the followings in the platform, I am only listing some key tools available :
Support (Live Chat, Site Support, Q & A)
Community
Training Courses, Step by Step
Weekly Live Classes (and 100's of hours of replays)
Online Entrepreneur Certification
Affiliate Bootcamp
The Affiliate Program
Networking
Building Websites
Website Performance Tools (SiteRubix)
Website Engagement Platform (Site Comments)
The Hosting Platform
Site Content Writing Platform
Keyword Research Tool
and others
To find out more, you can click HERE to explore more
In Summary, Is Wealthy Affiliate The Right Platform?
For me, this platform will be my focus for the next few months and use this to achieve my goal of financial freedom.
You may want to try out this WA to find out how easy it is to create a website and so on. some example is as follows:
IF you have any comments and feedback, please do give your view in the comments section below.
Exercise is supposed to help a person to keep fit and healthy, with this in mind, we train hard and eat well.
But then we still face some issues with our health, and doctors do not seem to be able to find out how to resolve the problem.
Yes, I am talking about hip flexors, You see, our hip flexors are the engine through which our body moves. They control balance, our ability to sit, stand, twist, reach, bend, walk and step.
If our hip flexors tighten, surely it will cause a lot of problems and as a result, it will also affect our health.
How do we get tightened hip flexors?
1. The most common cause of tightening hip flexors is sitting too long in a chair, especially for those who have to sit in front of the computer for hours nowadays.
Hence, most of the time, we notice people who have been sitting too long, they stand up and move their hip here and there, however, does this help?
As you can see, weakness, shortening and tightness develops in the muscle through sitting for extended hours, furthermore poor sleep posture and even work tension and stress could be the results too.
What are the effects of tighten hip flexors?
If you have the following signs, generally speaking, chances are you have the tightened hip flexors:
Nagging joint pains in your legs, lower back or hips
Walking with discomfort
Hips locking up
Bad posture
Trouble sleeping
Sluggishness in day to day life
High Anxiety
Digestive problems
Compromised Immune System
Circulatory issues
Loss of sexual performance
Lack of Explosiveness in the gym or sports
Does Static Stretching help in curing tightened hip flexors?
Studies showed by doing static stretching will not completely cure tightened hip flexors.
Even though it may just provide a temporary relief of the tightness of the hip, therefore to learn more about, you may want to click HERE
If you want to learn more and resolve your hip flexors tightness problem, do click on the above.
By doing stretching exercise, even though it may help for those who has been sitting too long.
However, in the long run, you want to try some exercise, to loosen your muscle, how about try YOGA?
With goal achievement, it certainly creates satisfaction.
Our wonderful life usually happens in the journey towards attaining ours goal.
To attain our goals, we take action based on inspiration, hope and motivation.
However living a wonderful life can happen, regardless of achieving a goal or not.
So if you embark on some fitness program to keep yourself fit, and achieve the goal of reducing your weight, say from 80 kg to 67kg, then go for it.
Assuming 67 kg is your ideal weight, and if you can achieve the goal, it will be a huge satisfaction, and you accomplish your mission.
I have seen my friend trying her best to do some flat belly exercise, and does not seem to get anywhere .
One day, she tried out something, which I have been telling her to do, and it seemed it worked!!
This is just one of the examples of achieving goal set.
Goal Settings and Goal Achievement
In our life, we set a few goals since birth, since the day we started to know our surrounding.
As we enter school age, we set goal to have better grade.
Then we set goal to finish our education at tertiary level.
After that, we start our working life, we set another goal, to reach certain level in corporate world, if you are in the corporate world.
For those who are self-employed, earning passive income in online world, or self-made entrepreneur, and making money online, we will set our goal of so much per night.
So is goal setting that important?
Goal setting is just one tool we use to achieve our target.
We use goal setting as a barometer to focus on the task we have in hand.
Just like in Wealthy Affiliate journey, some set the goals as follows:
how much money to make per day.
The amount of money to make per week.
What will be the amount we are aiming for per month.
The goal of money made in a year.
We have a sense of satisfaction, the feeling of mission accomplished, when we achieved our goals.
However, the start up may not be smooth sailing, as people thought it was.
Without hard work and hours spent, focusing on setting goals, trial and errors, we say we have achieved our goal, once we see the light at the end of the tunnel.
COVID-19, a term used to describe the pandemic happened in 2020 all over the world.
The most searched word at the moment and the dreaded word in almost every one's mind.
So what is COVID-19? and what has it done to change mankind thus far?
COVID-19 or Coronavirus as we initially called this virus, or some people referred to it as Wuhan Virus, since it was from the City of Wuhan in China.
Effects of COVID-19
Because of this virus, it changed a lot of things in this world,
force human to make changes, and
discard their usual lifestyle,
some businesses even had to change their mode of operation, and
some were forced to close down being badly affected by this.
Governments all over the world initially treated it as just another flu type of virus and some were ill prepared for this, eventually every country decided to follow China's way of dealing with this pandemic by locking down the whole city.
Lock Down, Restricted Movement Stay Home Order, Circuit Breaker
To deal with the human traffic so as to curb the spread of this COVID-19 pandemic, there are so many names or terms used, such as:
Locking down the city,
restricted movement,
stay home order or
circuit breaker as Singapore decided to have a more subtle name for their action.
One of the lock down effect was the closing of border, and this restricted the movement of people from one country to another, even for country with proximity like between Malaysia and Singapore, which was linked by a causeway,
One the busiest border crossing in the world, whereby at least 300,000 used the causeway to move either way between the two countries, it was practically deserted during the MCO (Movement Control Order), the term used by Malaysia, and Circuit Breaker, the term used by Singapore.
Industries Affected By Lock Down
The first industry badly hit by this closing of borders is the airline, most of the airlines decided to cancel their flights, and have the air crafts grounded, the only flight operating was mostly the cargo plane, which carried the essential goods from one country to another.
What To Expect Post COVID-19?
Now people are talking about post COVID-19, what is going to happen, and what can we learn from it.
Impact
SARS had some impact on human.
When at the height of it, people were talking about being hygienic and so on.
Cleanliness was the top priority, even in some restaurants, they would not have the cutlery on the table until the customers were at the table, places like Pizza Hut used to have the fork and knife on the table, even though there were no customers, but during SARS, they decided to keep all the forks and knife.
And now COVID-19, the situation was worse, restaurants had to close and only allowed takeaway.
Luckily with the advance of technology, and the emergence of APP, people can now order food online, and APP to search for food delivery, and most of the food outlets decided to work with the delivery companies, this is to ensure they still have customers during this challenging time.
Work From Home
Work from home became a norm for most of the companies.
This may become the norm even after post COVID-19, this will definitely affect the office building owners, as their office rental incomes may be badly affected post COVID-19.
Once the lease period expired, some companies may review the need, and decide to cut down the size of the office space, since most companies have already had ample practices during the lock down, and work from home for few months, this will help the companies to save quite a substantial amounts on rental payment for office space.
With the reduced office space, less electricity consumed, less office stationery used, the productivity of the staffs may improve also, it may also help to improve work life balance, especially in Asia countries, whereby working long hours in office is the norm.
Adapt & Innovate
Business will have to adapt to the new norm in operating their businesses, after learning from the lock down and making changes during the lock down, if the businesses are not prepared to deal with the new norm, they will be phased out post COVID-19.
The one which can adapt faster and be prepared during the lock down, and hit the ground running after the lock down, will be the one which will gain more and achieve a greater height.
“Times and conditions change so rapidly, that we must keep our aim constantly focused on the future” – Walt Disney
Even though times are bad, and difficult for most of us, especially those in business, when COVID-19 affected every one in one way or another, however, this not the time to cry and whine about it, so much uncertainty about the future, and how to survive in this uncomfortable situation, we have to start taking stock of the situation, and learn something from this, the earlier we accept this, and move on and start making changes, innovate and adapt to the new norm, the earlier we come out victorious and stronger, to face the challenges ahead.
To move forward, we need to make profound changes, and move out of our comfort zone and innovate.
In scientific term, as stated by the American physicist and philosopher Thomas Kuhn, a concept called Paradigm Shift, which means a fundamental change in the basic concepts and experimental practices of a scientific discipline.
We can relate the changes we need to make to survive COVID-19 as a paradigm shift, since we need to make a profound change in a fundamental model or perception of ways we do our works and live our life.
What Businesses Should We Do In Case We Want To Start A New Business?
During the lock down or Circuit Breaker as in Singapore, only certain businesses are allowed to continue to open, the rest needed to work from home or shut down completely.
Businesses involved in food and beverage, basic groceries, logistic, medical supply, health care, waste management, transport and telecommunication business are still open during the lock down.
Food stalls, fruits stalls, vegetable and meat sellers are doing brisk business during the lock down.
Super markets and groceries shops are also doing good business during the lock down because people still need to buy the necessities.
Restaurants, coffee shops and hawkers center operated in the following manners:
can only cater for people who buy foods for take away, and
no dine in is allowed, and
this created good business for delivery people.
For manufacturing entities, during COVID-19, it is obvious that those involved in health care and medical supply businesses are in great demand.
Factories involved in manufacturing surgical masks, disinfectant, gloves, medical PPE, ventilators and medicine were operating during the lock down.
On the other hand, those in other types of manufacturing which are not essential would have to stop operation.
We can see from this lock down, what types of businesses still need to operate, and no need to take forced rest.
What Types Of Businesses Are Badly Affected?
COVID-19 affected Hotels business badly since the borders are close, travelers could not cross over from another country, if the lock down last few months, the hoteliers will have problem surviving unless they have a lot of cash reserves.
What about Transport business like taxi and buses?
Fewer people were taking the transport because of the stay home orders, they will only ferry the people who are in the essential business.
As mentioned earlier, one of the badly hit is the airline, no cross border traveling mean the airline need to ground their planes and in the case of Singapore Airlines (SIA), SIA re-designated some of their crews to help out in hospitals, to attend to those who were not in emergency medical care, this is to enable the professional and trained nurses to attend to COVID-19 related cases.
What Can We Look Forward To Post COVID-19?
1. Change of business model
If the business wants to survive post COVID-19, what do they need to do?
They need to innovate and
adapt to the new norm, and
adjust the business model,
take action and
create results
instead of stand still or
shut down completely and
blame the pandemic for the chaos.
2. Prepare for the future
In time of crisis like what COVID-19 has created, it is important that business people
show some better character in this high stakes challenge, and
focus on objectives that can produce results.
And here I quote the Singapore Minister favorite words – to think two steps ahead, we also need to set long term goals in order to meet the uncertainty and challenges ahead.
3. Embracing new digital solutions and technology
This is the time
to review and
analyze what we have been doing, and
make adjustments and
adapt
so that we can be well-prepared for the future and
no time to whine on the losses and
lost opportunities.
4. Have a good game plan
Post COVID-19, we must have
a good game plan
so that we can focus on our primary objectives and
focus on our secondary objectives,
prioritize key initiatives and
take action
to ensure we meet the clear targets despite the uncertainty and so many unknown factors.
We learn along the ways, and make amends, so that we do not lose our focus on the task ahead.
Just like what Sir Winston Churchill said “ Don’t let your crisis go to waste!!”
You may also wish to read and learn about COVID-19 in my post, please HERE
If you have any questions or wish to share your experience on this topic.
Please feel free to leave your comments, questions and your experience in the feedback space below.
I would be glad to get back to you and thank you for your feedback, comments and sharing of your experience.
COVID-19, the dreaded word in 2020 which has caused a lot of havoc all over the world, despite the fear and worry, COVID-19, what can we learn from this?
Because of this pandemic, medical experts were asking us to stay at homes as much as possible, in order to break the spread of this virus.
Social Distancing is the common words everybody and media is using.
Just how effective is Social Distancing in curbing the spread of COVID-19?
No one will really know the effectiveness, how does this come about in the first place?
To a layman on the street, he will interpret it laterally, that the distance between him and another human has to be at a certain distance.
However it appears the social distancing is more than that, and it seems a lot of governments do not seem to convey the right messages to the people at large.
Measures Taken By Government In Fighting this pandemic
The government implemented the following Social Distancing measures:
1. Distance between two persons in public.
2. Cancellation of mass gatherings to avoid contact.
3. Restriction of travel.
4. Closure of schools and use home base learning by using internet.
5. Closure of work place of non-essential business to reduce the contacts
6. Quarantine of suspected infected patient and the contacts.
I am not going to elaborate in details of the above measures.
I will just write something about this, while being held up at home due to the measures!!!!
Because of this stay home measure, no one can go to work, other than those who are in the essential services:
Such as utility companies, telco, supermarkets, food and beverage outlets,
For those who never cook at home, and so used to eat at food courts or restaurants, they need to adapt and start ordering online for food delivery.
COVID-19, had affected almost all the industries and businesses.
Airlines need to ground their air crafts and because of this, the demand of fuel was lower.
The oil production is also affected, and oil prices tumbled so much, at one time, it even reached negative level.
Since fewer people were traveling and public transports also made fewer trips, this contributed to the lower of demand of fuel too.
A lot of drivers decided to stop driving taxis since there were less passengers and this had affected the taxi companies.
So are we going to see the new norm after this pandemic finally leave us for good?
For once, at the moment, due to less traffic on the road, in the air and so on, the pollution due to the emissions from the transports is less, and we can see clearer sky.
Likewise, factories had temporarily stopped production unless they are in the production of essential goods.
As a result of which, there is less use of air conditions and equipment in these industries.
The less usage of air condition and equipment also contribute to the improvement in the air quality to some extent.
The pandemic is really an eye-opener for a lot of people across the boards.
We sometimes consider some jobs not that attractive, for example, a delivery man job.
Suddenly these types of jobs are in great demand and a profession highly regarded.
Hawkers stalls are doing quite good business, as there are a lot of takeaway of foods and less cost involved in washing the plates and cutlery
Manufacturing companies which are in medical supply, health industries are doing well.
The demands of sanitizers, disinfectant, masks, glove, PPE, shoes and thermometers are high.
In view of this, some factories converted their production lines to make all the medical supplies.
In China, Most of the car manufacturers converted their production lines to product gloves, masks, shoes and PPE.
Even reported that Foxconn, the OEM part suppliers of IPhone, refitted their productions to produce masks.
So were most of the garment factories in China, refitting their production lines to produce the necessary medical supplies.
With the near standstill of the economy, are we seeing the new norm of economy post COVID-19?
New Norm Of Economy?
A company's income is another company/consumer expense.
For example, if the airline is not flying, as travelers are not flying, so airline will not have income,
following which, all the air crews may not have their salary paid, unless the airline concerned has Hugh cash reserve to sustain the non-operating.
Assuming the air crews were not paid or only paid half, hence their purchasing power will reduce.
This will have domino effect , because the air crews will not spend, and the other industries will have no income since no one is spending money.
So if every one stays at home, no one has income, consequently no spending power, at the end of the day, what is going to happen?
Do we go back to the time of barter trading, whereby I had this item, and you have what I need and you need what I have, so we exchange goods?
I am looking forward to pricing adjustments, since this work from home for most companies tell us one thing,
That they do not really need such an office space, so,
Does it mean office property prices will come down? even in Central Business District?
Home Base Learning
One of the good thing from the social distancing is the home base learning.
Bearing in mind kids nowadays always glue themselves to their mobile devices, and do not bother to study, or revise their study when they are at home.
They go to school as if it is because the parents say so.
Immediately after school, the hands will be on the mobile phone, regardless of whether they are taking the meals at home or outside.
School kids were so happy, when the government announced the schools will be closed until certain dates.
"Hooray" no need to go to school, then it dawns on them that the device which they like so much because of internet connection, they have to use it to do home base learning.
Now they realize the internet connection which they like so much, which give them enjoyment, now also give them some hard time.
The plus thing of this home base learning is; after this pandemic is over, the teachers can change profession and become internet broadcaster/presenters.
Since they now have ample experience in broadcasting through internet, courtesy of their on the job training when giving lessons to the schools children.
Opportunity to keep fit
For those who stay at home and need to keep fit, this will be the time to learn how to keep fit when at home.
What one can do at home to do the exercise and burn the necessary calories.
For those who really want to challenge their body fitness or who are in burn yoga,
You can try burn yoga while working from home. You can click here to learn more about burn yoga
Learn and sharpen cooking skill
As for some who seldom cook and so rely on hawker foods, it is the time to learn and practice the cooking skills.
Finally these people get to use their kitchen to do some cooking.
After all nowadays there are so many tv channels or Youtube, one can learn about cooking, just follow YouTube tutorial and so on.
What can we learn from it?
Does Social Distancing lead to panic buying? Or
Announcement by government which was sometimes not clear enough, was the main cause of the panic buying?
Hoarding of toilet papers?
One phenomenon of this COVID-19 pandemic is the hoarding of toilet papers, tissue papers, even alcohol swipe which the diabetic patient use before they administer their medicine.
The hoarding of toilet papers not only happens in Hong Kong, Singapore or Malaysia.
It even happens in USA and Australia and European countries.
My friends in Hong Kong told me why the Hong Kong People buy a lot of toilet.
The hoarding of toilet papers was due to the rumor, that since Hong Kong get their supply of toilet papers from China.
China had instructed that all the toilet papers production line need to divert the raw materials to making of masks.
Apparently there were in short supply at one time, so the people in Hong Kong got panic and decided to stock up the toilet papers.
As for Singapore, toilet paper and tissue papers hoarding were of different reason.
What did the Singaporean do?
Apparently people in Singapore are very creative,
they put two pieces of toilet papers in between the mask and tissue paper,
the tissue paper will be the one which come into contact with the mouth and nose,
with the toilet paper in between the tissue paper and mask,
even though it is a 3 ply mask.
Anyone knows the reason for the hoarding in Western Countries?
In Summary
One of the good things of this pandemic is - nowadays people will queue to buy their goods at the market.
So we have to look at the positive of this outbreak of the pandemic and take action to ensure we can cope with life after COVID-19.
If you have any interesting pictures and views about this COVID-19 in term of social impacts,
and wish to share your views, feel free to do so in the comments section below.
There are so many Binary Options platforms out there, and most of the Binary Option claimed that you can use that to get rich fast!!!.
The platform is cashing in on the human greed, to lure people to the platform, basing on the basic human desire of Who Does Not Want To Get Rich.
How many people have been using Binary Options?
and learned a painful lesson that they will never forget?
There are Binary Options who claimed you can make a lot of money, and easy to get your investment back.
FREEBIE IN BINARY OPTION
Some Binary Options even provide one for one investment.
That is if you invest USD $2,000,
they will top up the account with USD $2,000 and
you have $ 4,000 Capital to trade using Binary Option,
What did not the platform administrator tell you in the beginning?
if you take the option of getting the free top up,
you are not able to withdraw your initial Capital,
until you make certain numbers of transactions.
In the internet, there are so many advertisements about Binary Option, and video showing how people have made a million within a short time, using the same actors or actress to lure you to believe this is THE WAY to make money.
WHAT IS BINARY OPTION?
According to Wikipedia definition
"A binary option is a financialexotic option in which the payoff is either some fixed monetary amount or nothing at all.[1][2]
The two main types of binary options are:
the cash-or-nothing binary option and
the asset-or-nothing binary option
The former pays some fixed amount of cash if the option expires in-the-money.
While the latter pays the value of the underlying security.
They are also called all-or-nothing options, digital options, (more common in forex/interest rate markets), and fixed return options (FROs) (on the American Stock Exchange) "
So in layman term:
it is a yes or no, and
head and tail type of game,
it is like a game of chance, right or wrong.
When you want to find out more about the platform, initially, the customer service is so friendly and helpful.
However when you are winning using the Binary Option, they will have people making calls to you.
They are so eager to show you how to make more money, and encourage you to trade more, and in no time, you find out your winnings are gone.
As a result of which, they will call you to put in more money and tell you again, if you put in USD $5,000, they will top up USD $ 5,000 and here you are, you have now USD $ 10,000 to trade.
What Do Binary Option Platform Offer in Their Website?
Some websites even offered training on trading of binary option, and claimed to provide good trading support.
A lot of these websites even claimed to offer good tips, and sure win trade if you pay certain amounts of money.
Therefore I would suggest if you really want to trade binary option, do so with the local platform.
Where you can meet the administrator of the platform in person, and understand more about their operation.
Even that also may not be good enough, however do trade with good conscience.
DO YOU KNOW WHO YOU ARE DEALING WITH IN BINARY OPTION?
The main issue is -- the trader does not know who he is trading with, and how many players/traders are involving in this platform.
For all you know, you may be trading with the platform's software, and the platform operator is manipulating you.
You may think what you see on screen is the real trade in the financial market.
Actually there may be some lag in the data, which indicates you may be trading with the platform back end, who is just eating up your money/capital slowly.
WHAT HAPPENED IF YOU GUESSED RIGHT AND WIN?
If you happened to trade right and win, then the customer service will call you the next day, and tell you to trade more or play more.
Depending on what you are trading, whether it is forex, stock, indices or metals.
Someone will call and tell you that they have done some research, and it is a good time to do certain trades, and they would guide you and so on.
The next thing was you realize after a few trades, you have lost all your previous winnings money,.
Since the trades were for few minutes, you would know your trade results within minutes, and
Then they would call and advised you to bet in certain amount as the probability was higher with higher amount and so on.
WHAT HAPPENED IF YOU WANTED TO CASH OUT YOUR WINNINGS?
When you called or log in to your account, and indicated you wanted to withdraw your winning, you would not get any reply at all.
subsequently when you called or emailed them, they would inform that since you had taken the top up from the platform, you could not withdraw your winnings.
because they said you had not done enough trade transactions
They would ask you to continue trading, and you soon knew the game was a scam ,as there was no chance you could win, since it was just a program set up by them to ensure you put in money.
Are Binary Options Regulated?
If you go to their websites, that they claimed that the authorities in their country of residence are regulating their platform.
What are the tricks of the fraudsters?
They offered you to check their credential with the relevant authorities,
however, if you really check and read the reviews by some other who always monitor the scam and fraud,
you would find that a lot of them are really scam, and
operated by some fraudsters
who hide behind the internet and computer to thrive on human nature of greed of money and get rich quick.
Conclusion
If you really want to trade:
do so with the local platform
where you can meet up with the administrator and
with a company in your location, and
understand their operation and get some assurance and
check with the local relevant regulatory authorities.
If you are not good in financial market, do stay away from this instrument.
It will be better to trade in something which you know well, instead of looking for some quick short term gain.
If you have any questions or wish to share your experience on this topic.
Please feel free to leave your comments, questions and your experience in the feedback space below.
I would be glad to get back to you and
thank you for your feedback, comments and sharing of your experience.
In our life, we only live once and it is important that we live it right, thus, we need to make sure we live once but live it right.
Since we were born, we learned a lot of things from baby until we graduated and started working life and family life..
It is important that we get it right, especially when we reach the retirement age, and there are bills and commitment to be met.
There are people who are still hesitant of what to do, and what need to be done, in order to have a financial worry free retirement life.
A. Why do people put off their decision?
Just share one of my experience of encountering one person who keeps asking me what to do, as he is getting on his life and worry about his life for the next decade when he is in retirement.
I told him to try out online business, and if he can get on with it, he does not have to worry about his retirement life.
The last I heard from him was he was still thinking about it, and I told him "we only live once and we need to get it right."
His excuse was - there were so many people who had tried that and did not seem to be successful.
My answer to him was he needed to find out how many times these so called many people had put in, and how many hours of their efforts to really work on the online business.
It appeared that majority of people were looking for get-rich-quick type of scheme, and have the impression that online business is a get-rich-quick scheme with instant success without putting in much effort.
Why do people put off their decision?
Because they were not certain whether they could be successful, and most importantly was they were not willing to put in their effort.
B. What do we do when we need to take a decisive step in life.
We tend to be hesitant when we face with some decisions to make, a lot of people put off making the decision to a later date and let the opportunity passed by.
You know you only live once, hence it is important you live it right, and grab the opportunity, since hardly there is a second chance.
Therefore, if there is an opportunity to move forward and make your life better, why don't you grab it and live it the fullest?
A lot of people regret that they did not take the chance offered when they were offered the opportunity to better their life, we should remember no risk no gain, after assessing the opportunity on hand, take it and move on.
We will not be an expert if we do not fail to achieve our goal.
Some people are great and appear successful, but
we never know how much and how hard they had tried, in order to reach what they are now,
how often have they failed,
and how difficult their situation was before they become great.
C. You Only Live Once, So How Do You Intend To Have A Financial Worry Free Retirement Life?
To be financial worry free during retirement life, we need to ensure we are independent, and decisive in making decision, when we have to decide how to live our retirement life happy and free of financial worry.
We can use Wealthy Affiliate to learn and make money at the same time.
Even when you are in Old Folk Home living out your remaining life, you still have the ability to earn some money and live a good life there
So for those who are serious in making it online, and ensuring having a good retirement life, do the right thing and make the right decision.
Benefit Of Doing It Our Own Way To Achieve Financial Freedom
You do not have to depend on your offspring for support in your retirement life, if you are able to make some income from online business.
Do realize that having some handsome online business income will be good to finance your lifestyle in retirement, and can even bring you money even when you are on holiday enjoying your retirement.
Just imagine the best of the world when you are holidaying and your bank account still shows money keep coming in? This is the dream quite a lot of people like to have.
For those who work full time on employment, they only have their monthly wages to look forward to when on holiday, whereas if you are self reliance in internet business, you do not have to worry about your money, as it still earns you handsome income when you are sleeping.
Then you can really brag about You Only Live Once but Live Right.
If you have any questions or wish to share your experience on this topic, please feel free to leave your comments, questions and your experience in the feedback space below and I would be glad to get back to you and thank you for your feedback, comments and sharing of your experience.
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