MONEY THOUGHTS: Aim to be a one-in-33 winner!
FINANCIAL planning is at least three different things: A profession, a discipline and a process.
Financial planning encompasses three aspects: a profession, a discipline, and a process. In Malaysia, financial planning is practiced by licensed professionals known as financially planning associates (LFPs), who are regulated by the Securities Commission. FPAM, based in Petaling Jaya, Selangor, serves as the main association for these professionals.
The process of financial planning involves setting life goals, managing finances to achieve those goals, and continuously revising goals as they are achieved. A successful life involves setting, attaining, and resetting these goals while maintaining gratitude for what one has. Financial freedom is achieved when passive income exceeds expenses and debt payments. Despite this clear understanding, only a small percentage of adults worldwide achieve financial freedom, with roughly one in 33 people expected to succeed.
Written by urgent.news from New Straits Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
