Updated on 2nd April 2020
I must admit, I am a person who has no direction in life until I found a reference point and make them part of my life. In the earlier days, I believe in the knowledge gained through self-improvement books, books like Eat that Frog by Brian Tracy, The 7 Habits of Highly Effective People by Stephen. R. Covey and ignore advice from families member or friends. (Other sample books on self-development). Later, as I grow wiser in life, the Bible has been the core message.
Likewise, on the topic of money, I too, have a few reference points I refer to and they consist of the books I read and the people I met throughout my financial journey. So, before you read further, let’s have a common ground and define what is reference point actually means?
According to Google, a reference point is a basis or standard for evaluation, assessment, or comparison; a criterion – simply means, something or someone we can refer to as a guide for something we set our eye on and for this case, is money.
Below, are the books and people that have shaped my thoughts and used as a reference point from when I started my journey on Financial Planning:
I was an avid follower of Mr. Robert Kiyosaki. He is the author of the self-published book called “Rich Dad, Poor Dad”. His book has open my perspective on how the finance world runs from a general perspective. If you asked me what to start with. I may recommend you start with his first book called – Rich Dad, Poor Dad, follow with Cashflow Quadrant and try on his game called Cashflow (previously known as Cashflow 101).
After understanding how the world’s finance works, I began to explore how the local’s finance works (Malaysia’s context) and after googling for a while, I was fortunate enough to bump into Mr. KC Lau’s website and from there on my knowledge on finance began to deepen.
The next person I would like to share is my schoolmate, Mr. CF Lieu who also ventures into financial planning. To be frank, he actually attracted my attention to look into this area (financial planning) and thereafter, I went in to test the water by taking the CUTE exam (an examination for those who wanted to sell Unit Trust as a Consultant) to see finance industry from the other perspective.
#4 Wilfred Lim
He is the one who encourages me to take up the Certified Financial Planning course via Financial Planning Association of Malaysia (FPAM) to deepen my knowledge for this field after he found out that I am selling life insurance as an agent for Zurich Life Insurance Malaysia Bhd. He is also the lecturer for my certification, hence I can say, my perspective of financial planning is largely influenced by him. We also have a closed WhatsApp group between students to exchange ideas and perspectives to widen our view after the official class which is very good. Currently, he is the chairman of the FPAM Sabah Chapter.
Since I have taken up the journey to becoming a Financial Planner, I began to explore how other financial planners conduct their business and below are some of the references I found:
#5 Sanjay Tolani
Dr. Sanjay is a figure introduced by my life insurance leader. From there on, I subscribe to Dr. Sanjay Facebook Page and his newsletter to learn how a life agent thinks and do to close more sales. On top of that, I also purchased one of his famous books called 28,000 which explains the concept of financial planning in a pie chart diagram (Concept Selling). Dr. Sanjay is able to give a new flavor to the industry via the concept he shared with. If you are an agent selling life insurance, I suggest you get to know him too.
#6 MyFP Family Office
This is a Fee-Only Financial Planning Company, that collects fees only on given advice and construct a Financial Plan for Clients. I follow their Facebook Page for the perspective shared by them on the financial market.
This is a Fee-Based Financial Planner by the name Marshall. Although he is quite new in the industry, I liked the way he thinks and his attractive website. Hence, I followed and He also owns a Facebook Page.
Other than Financial Planners, I also follow:
#9 Dave Ramsey
Dave is an American radio show host, author, and businessman. He captured my attention because at times he preaches the gospel together with the topic of money. He is really weird because his advice may go to the extreme rather than the play it safe if compared to typical financial planning theories. He Followed his Podcast on Spotify and his Facebook Page.
#10 Ringgit Oh Ringgit
Ms. Suraya runs a personal finance blog. I liked the way she writes, maybe because of her copywriting skills is awesome and I got hooked. Her Perspective is to the point as well so, it is easy for a layman to understand can capture the essence of the topic. You can follow her Facebook Page.
That, my friends, is my top 9 followed as a reference point on the topic of finance. Apart from the listed above, I also read and follow other financial influencers but not as frequently as the ones listed above. Those are just perspective shared by the respective authors, you can have your own point of view too. If you need more details on how the regulators set the rules, you will need to visit the respective sites.
If you followed my Facebook Page, earlier I did share about Cuepacs having an insurance scheme under CuepacsCare which covers Medical and Personal Accident. In my next post, I plan to do a simple comparison of how they fair between CuepacsCare and typical insurance plans in the market.
After giving it a deep thought, I think I better make the concept of financial planning more clear. Apart from using the Google Map concept to paint the picture of planning, I will be using Sanjay’s concept (modify a bit) to show you what happens. Watch out for the next post!
If you find this article could benefit your family or friends, please share it around.
If you have comments about this article or suggestions on future topics, please do drop me an email at AskShaneHo [at] Gmail dot com.