Full Transcript for Plan to Huat!

different things. 64 00:04:19,834 --> 00:04:25,374 Can you elaborate further? I will not because I'm not qualified to be a furniture advisor. No, lah. 65 00:04:25,574 --> 00:04:28,694 Where do you... Okay, how do you save? Just saving account? 66 00:04:29,374 --> 00:04:33,394 You buy insurance? I buy insurance. I actually buy a lot of insurance. 67 00:04:33,714 --> 00:04:35,434 Yes. Don't need to name each company. 68 00:04:35,834 --> 00:04:39,534 Right. I will name the companies. is I have a fair bit of investments, 69 00:04:39,854 --> 00:04:42,834 more risky ones, stock shares. 70 00:04:43,474 --> 00:04:46,494 And of course I'm heavily invested in the most important thing. 71 00:04:47,274 --> 00:04:48,874 Your business. Myself. 72 00:04:51,034 --> 00:04:55,174 That's true. Don't you think it's a very important point? Investment in yourself. 73 00:04:55,414 --> 00:04:56,974 We ask the professional. Yes. 74 00:04:57,734 --> 00:05:01,714 What does that mean? Investment in yourself. How do you invest in yourself? 75 00:05:02,594 --> 00:05:07,134 You just said you invest in yourself, right? But professional first. 76 00:05:07,134 --> 00:05:08,534 Then ask professional first. 77 00:05:08,654 --> 00:05:16,814 I definitely think so. So even for me, since back from an ex-accountant until 78 00:05:16,814 --> 00:05:19,554 right now, two decades in the financial planning industry, 79 00:05:19,774 --> 00:05:27,014 I invested more than six-digit figures across the last 20 years in different causes. 80 00:05:28,054 --> 00:05:35,214 So for example, for yourself, you probably at a certain stage in your life, 81 00:05:35,234 --> 00:05:40,134 you will take a look at and understand, okay, what do I lack right now? 82 00:05:40,234 --> 00:05:42,594 Which are the skill sets that you lack? 83 00:05:42,754 --> 00:05:45,994 So for example, for myself, I know that for technical competency, 84 00:05:46,674 --> 00:05:48,074 I'm there, I can just read out. 85 00:05:48,194 --> 00:05:52,314 Then what? I know I lack soft skills. So I pick out soft skills since back then. 86 00:05:52,434 --> 00:05:56,814 So that was my skill set that I want to build out, which I know that it will 87 00:05:56,814 --> 00:06:00,794 complement together with the competence skills that together, 88 00:06:01,054 --> 00:06:03,994 you know, you can reach out to your clients and they'll be able to understand 89 00:06:03,994 --> 00:06:05,834 things through communication. 90 00:06:06,094 --> 00:06:09,694 Put it this way, in simple words, is make complicated things simple, 91 00:06:09,794 --> 00:06:11,274 easy to understand for people. 92 00:06:11,494 --> 00:06:15,674 Okay, so this is what I want to pick up, which is soft skills, communication skills. 93 00:06:15,734 --> 00:06:19,514 So throughout the last 20 years, I built up a lot on this part, 94 00:06:19,634 --> 00:06:23,534 which I invested a lot of causes to pick up this part. 95 00:06:23,694 --> 00:06:26,794 So which is why Credence is the other part

that I came up with, 96 00:06:26,874 --> 00:06:27,954 which is... You're very good at... 97 00:06:31,754 --> 00:06:40,354 That's not my intention. I share it with you is what, back then when even I 98 00:06:40,354 --> 00:06:42,354 don't have credence, that was what I invested in. 99 00:06:43,594 --> 00:06:50,274 So this is about investing yourself, attending courses, improving yourself, must we all be, 100 00:06:51,487 --> 00:06:56,707 In fact, no, it's not. If it's not academic, if I invest myself, 101 00:06:56,827 --> 00:07:03,407 make myself look good, even though I look quite good, then how much better skin is that also? 102 00:07:04,267 --> 00:07:07,347 Investment. Some people will say that, make myself look good, 103 00:07:07,427 --> 00:07:09,607 I feel confident, then that's investing myself, is that? 104 00:07:09,727 --> 00:07:15,047 Yeah, I mean, by all means, if it makes you feel more confident in being for 105 00:07:15,047 --> 00:07:16,867 yourself, then I say, why not? 106 00:07:17,107 --> 00:07:21,327 That works ah? So including like, what is that? that, those kind of behaviour 107 00:07:21,327 --> 00:07:26,847 classes, how to behave, social, those are important, right? Yeah, thank you. 108 00:07:29,047 --> 00:07:32,887 I've learned also those kind of course where they even let you know in terms 109 00:07:32,887 --> 00:07:36,647 of the colour tone-wise, like your clothing, how to match. 110 00:07:38,147 --> 00:07:40,567 Because most listeners when they say, oh, investing in yourself, 111 00:07:40,607 --> 00:07:42,627 say, oh, 10 course, do this, do that. 112 00:07:42,727 --> 00:07:46,567 So you're saying that anything that improve yourself, not necessarily everything 113 00:07:46,567 --> 00:07:51,367 is academic, go and study, it's also an investment itself, which is worthwhile. 114 00:07:52,127 --> 00:07:55,747 Yeah. To me, end of the day, it's not about only attending the course. 115 00:07:56,047 --> 00:07:59,267 One thing I take away is you must apply it immediately. 116 00:08:00,167 --> 00:08:04,127 So, no fun just attending the course. That's why you got professionals on this 117 00:08:04,127 --> 00:08:06,507 podcast. If you and me, we'll just enter long-stop. 118 00:08:07,647 --> 00:08:11,587 Okay. So, that's investing yourself in terms of time. 119 00:08:12,327 --> 00:08:15,387 Not just spending the money to do it. Okay. 120 00:08:15,627 --> 00:08:18,647 How much should they set aside for investment itself? 121 00:08:18,647 --> 00:08:21,487 You said you actually throughout your career life 122 00:08:21,487 --> 00:08:24,567 you're putting close to six digit or even cross six digits 123 00:08:24,567 --> 00:08:29,127 to invest yourself right would you recommend a certain percentage of what one 124 00:08:29,127 --> 00:08:34,587 person earn maybe a percentage then you disclose your income that's true okay 125 00:08:34,587 --> 00:08:43,307 then how do you get around this what do you do to invest in yourself when you look back, 126 00:08:43,989 --> 00:08:46,809 Oh, the rosen one, flag is going to fly. It won't go on the rosen one. 127 00:08:48,409 --> 00:08:50,989 I used to like to bring that to the toko, I was like... 128 00:08:53,089 --> 00:08:56,969 Okay, I shall not comment on the toko. I'm just chill with the... 129 00:09:00,069 --> 00:09:06,169 What do I do? I actually... Okay, admittedly, I think that's something that 130 00:09:06,169 --> 00:09:08,649 I invest myself. Maybe slightly different. I don't attend courses. 131 00:09:09,029 --> 00:09:11,629 Okay, I don't attend courses. I don't spend money to do courses. 132 00:09:11,629 --> 00:09:15,489 Because I'm actually quite kiam kana. Okay. I can tell. Very kiam kana. 133 00:09:15,969 --> 00:09:20,609 I'm quite careful. Quite generous with me. Yeah, occasionally. 134 00:09:21,949 --> 00:09:28,529 So, so, how I invest myself is I gain time and actually attention to myself. 135 00:09:28,749 --> 00:09:32,989 Giving myself time, personal time to myself. I think actually that's investing 136 00:09:32,989 --> 00:09:34,609 to myself as well, right? 137 00:09:34,689 --> 00:09:40,329 So, like, my exercises and all that, to me, that is investing to myself. The me time. Okay. 138 00:09:41,069 --> 00:09:44,969 That's why I wanted to be sure to understand from you, the professional, 139 00:09:45,229 --> 00:09:47,789 whether it's just causes or is there other things? 140 00:09:48,569 --> 00:09:52,449 Definitely other things as well. I mean, you talk about like me time. 141 00:09:53,409 --> 00:09:57,609 Yes, because especially, right, when some of us progress to become parents, 142 00:09:57,789 --> 00:10:02,049 then as children grow, they take up, they do take up a lot of our time on top 143 00:10:02,049 --> 00:10:04,929 of our work, then plus family time, right? 144 00:10:05,009 --> 00:10:10,729 So then, the time that we actually spend the moment and be present the moment with yourself. 145 00:10:11,049 --> 00:10:16,549 Just yourself, I think it's a very important time space that we should allocate for ourselves. 146 00:10:17,109 --> 00:10:22,189 So we're asking questions. He's asking his question today. So what do you do, Mr. 147 00:10:23,609 --> 00:10:31,069 To reinvest time in yourself? I do take courses in case you don't know. I do, I do. 148 00:10:31,309 --> 00:10:35,629 I always think he's actually quite well-read. Surprisingly. Okay, 149 00:10:35,629 --> 00:10:38,269 talking about well-read. So I will never stinge on books. 150 00:10:38,829 --> 00:10:44,289 Okay. I buy loads of books, loads and loads of books, and through the books 151 00:10:44,289 --> 00:10:49,349 actually, I spend a lot of time on self-discovery, I read all sorts of books, 152 00:10:49,429 --> 00:10:51,409 except fictional books, 153 00:10:51,529 --> 00:10:55,709 so the rest of the books are non-fiction, that's my eighth investment. 154 00:10:56,871 --> 00:11:00,311 There's something i haven't got to do it yeah but i was really prepared to invest 155

00:11:00,311 --> 00:11:05,831 in my doctorate but i don't got to do it because i think i'm a bit lazy. 156 00:11:08,431 --> 00:11:12,331 But somehow i will buckle buckle down and get it done at one point, 157 00:11:12,871 --> 00:11:19,551 quite fancy right dr dennison so next time you call me doctor then okay interesting 158 00:11:19,551 --> 00:11:23,371 i actually when you're about to say that even though i heard about this your 159 00:11:23,371 --> 00:11:25,731 desire to do a doctorate before. 160 00:11:26,451 --> 00:11:29,091 I was actually thinking you were about to say I want to write a book. 161 00:11:29,291 --> 00:11:30,771 I was also planning to write a book. 162 00:11:31,131 --> 00:11:34,611 What did you write? Two pages? Three. Three. 163 00:11:36,351 --> 00:11:40,251 Contact. Face. Reduction. 164 00:11:41,311 --> 00:11:47,851 Three. What is that? No, I mean, you hit the nail on the head. 165 00:11:47,951 --> 00:11:51,051 I was at a crossroad between starting my book or starting my doctorate. 166 00:11:51,051 --> 00:11:53,231 Both take a lot of time. No time confusion. 167 00:11:54,391 --> 00:11:59,971 So, you're right Agnes, I think we also need to invest time in ourselves in 168 00:11:59,971 --> 00:12:01,751 order to kickstart such things. 169 00:12:01,811 --> 00:12:05,371 Because writing a book is no easy feat. And I do have a lot of stories to tell. 170 00:12:05,971 --> 00:12:09,251 Right, you know. Actually there are two different things, right? 171 00:12:09,331 --> 00:12:11,791 Having doctorate is gaining something for yourself. 172 00:12:12,371 --> 00:12:15,771 Writing a book is in some ways leaving behind knowledge. 173 00:12:15,911 --> 00:12:19,691 No, I find both of them leaving behind knowledge. because if I can get the doctorate, 174 00:12:19,711 --> 00:12:22,131 then I have an opportunity to educate this. 175 00:12:22,971 --> 00:12:26,551 Two-step, right? Yeah. But then you can impact a larger group. 176 00:12:26,651 --> 00:12:27,931 I'm not very sure people buy my book. 177 00:12:28,586 --> 00:12:34,006 Put your picture in the front. I think I put your picture. Don't you buy? 178 00:12:36,606 --> 00:12:37,666 Egg was actually a picture. 179 00:12:43,346 --> 00:12:46,586 Written by TK. People put throw away. 180 00:12:47,906 --> 00:12:52,786 Okay, okay, okay. So, okay, doctorate and all writing a book. 181 00:12:52,886 --> 00:12:57,466 Yeah, all writing a book. I think those those are nuggets of things that I thought 182 00:12:57,466 --> 00:13:02,106 is investing in ourselves because I'm not a very academic person as you can 183 00:13:02,106 --> 00:13:08,726 tell but just naturally born smart fool what the hell and a natural bragger, 184 00:13:09,426 --> 00:13:14,766 okay so we talked about investing in ourselves what else Magnus that one should 185 00:13:14,766 --> 00:13:16,586 think about in terms of start of the year. 186 00:13:17,766 --> 00:13:22,446 Talk about what kind of investment how to do financial planning yeah because 187 00:13:22,446 --> 00:13:25,886 like starting of the year where I just, in fact, just recently went to meet 188 00:13:25,886 --> 00:13:28,466 a client like over a joint field work with my team. 189 00:13:28,566 --> 00:13:32,966 And then, so like this particular client, right, for some time, 190 00:13:32,986 --> 00:13:36,906 then we look at, I think one of the things is take a look at your portfolio review, okay? 191 00:13:37,106 --> 00:13:41,406 Get your financial planner and have a good discussion because this thing that's 192 00:13:41,406 --> 00:13:45,786 very, very realistic, right, is this particular client, she's not aware that 193 00:13:45,786 --> 00:13:50,646 this particular policy will, she's got to keep paying even after she retires, okay? 194 00:13:50,706 --> 00:13:56,206 Because if you bought some years back, at least, let's say, 15 or 18 years back, 195 00:13:56,386 --> 00:13:58,466 likely hold that policy. 196 00:13:58,746 --> 00:14:02,906 If it's life-blend, it might be payable until age 85, 88, or even 100. 197 00:14:03,206 --> 00:14:06,806 So then, at the same time, I also meet with other clients who will give me a call. 198 00:14:06,966 --> 00:14:12,846 Those who have retired, see, my desk policy has, like they bought previously, years ago. 199 00:14:12,966 --> 00:14:16,926 I still got to keep paying and paying, you know, those decades that they got before. 200 00:14:17,066 --> 00:14:19,626 So it's a very important thing when we retire. 201 00:14:19,786 --> 00:14:25,166 You do not, the last thing we want is any further financial commitments then 202 00:14:25,166 --> 00:14:26,346 the next question is then. 203 00:14:27,092 --> 00:14:30,892 Are your policies, are your portfolio aligned with what you think you want? 204 00:14:31,192 --> 00:14:34,452 Yeah. So I think that's a good checkpoint because you want to make sure that, 205 00:14:34,472 --> 00:14:37,212 you know, you are aware then you can sell funded in future. 206 00:14:37,312 --> 00:14:41,232 You are ready for it, for your retirement. So this one area for the portfolio review. 207 00:14:41,412 --> 00:14:44,812 And then some clients at this moment, like now it's February already. 208 00:14:45,072 --> 00:14:50,272 Very soon, two months in, you know, we're going for income tax, right? 209 00:14:50,632 --> 00:14:55,012 Yeah. So some are looking at like example for this year, how much you want to 210 00:14:55,012 --> 00:14:57,832 do for your SRS in terms of tax relief-wise. 211 00:14:58,092 --> 00:15:03,612 Okay, so SRS, you know, I leave it to you to find out the details in terms of 212 00:15:03,612 --> 00:15:04,512 how much you want to contribute. 213 00:15:04,712 --> 00:15:09,652 But one tip for you, if you want to get yourself started for this deferred tax relief, 214 00:15:10,192 --> 00:15:16,732 are you aware that right now the scheme, right, if you just start your SRS account itself, 215 00:15:17,052 --> 00:15:21,032 you can start withdrawing at the scheme, 216

00:15:21,132 --> 00:15:24,272 which is the current scheme, scheme where you can start withdrawing 217 00:15:24,272 --> 00:15:27,492 from 62 onwards so even if you just if you 218 00:15:27,492 --> 00:15:32,012 just put the basic you know 100 or 1k in you will lock in for this scheme so 219 00:15:32,012 --> 00:15:36,452 in future even when the scheme changes okay you do like let's say if in future 220 00:15:36,452 --> 00:15:41,952 the scheme is 65 or 67 example you you will still be eligible for the 62 withdrawer 221 00:15:41,952 --> 00:15:44,592 so that's something that you want to take advantage yes. 222 00:15:45,192 --> 00:15:48,932 So okay i got a question right you know this period you spoke about financial 223 00:15:48,932 --> 00:15:53,972 planning right review is it I always find people find it difficult to do a financial 224 00:15:53,972 --> 00:15:59,212 review is it the inertia to start or is it fear of starting or fear of recognising 225 00:15:59,212 --> 00:16:01,252 that you're financially not well planned. 226 00:16:01,814 --> 00:16:08,014 So, based on the experience. I guess it's probably, I mean, to be very blunt, 227 00:16:08,254 --> 00:16:12,554 I think it's more towards like the stereotyping of basically facing a salesperson 228 00:16:12,554 --> 00:16:14,714 and feeling that, oh, am I... 229 00:16:14,714 --> 00:16:18,234 That's the issue, right? Yeah, am I meeting to be closed for sales? 230 00:16:18,534 --> 00:16:21,234 When you and your financial consultant call our customers, hey, 231 00:16:21,314 --> 00:16:22,714 can we do a portfolio review? 232 00:16:22,874 --> 00:16:25,094 Most of the time, they think that you don't mind, but don't see, 233 00:16:25,134 --> 00:16:28,674 right? I think that's the stigma that we need to... I think we need to help 234 00:16:28,674 --> 00:16:30,334 people remove their stigma. Yeah, yeah, yeah. 235 00:16:30,574 --> 00:16:33,354 Because you need professionals to look at your you know why because 236 00:16:33,354 --> 00:16:36,254 when you own the financial portfolio you tend 237 00:16:36,254 --> 00:16:39,914 to think it's the best so you need an outside view but 238 00:16:39,914 --> 00:16:42,614 I guess a lot of people struggle with this should I get 239 00:16:42,614 --> 00:16:46,314 outside view or I think I know it better I think it's always good to listen 240 00:16:46,314 --> 00:16:50,834 to another opinion another point of view but it's just the fact that someone 241 00:16:50,834 --> 00:16:55,394 is approaching you for a portfolio review it's not necessarily a position to 242 00:16:55,394 --> 00:16:59,754 sell you more things of course in the end it's not something that is a gap a 243 00:16:59,754 --> 00:17:01,634 little while for you to consider. 244 00:17:01,894 --> 00:17:04,994 Of course, that's a pitch. But if you understand, I think in the full premise, 245 00:17:05,134 --> 00:17:07,474 portfolio review is a very good exercise. 246 00:17:07,634 --> 00:17:10,274 How often do you recommend it to be? Annually at least once? 247 00:17:10,454 --> 00:17:12,294 Yes. Annually at least once. 248 00:17:12,674 --> 00:17:16,814 Do you think you should do it more often even in choppy market conditions? 249 00:17:17,994 --> 00:17:22,214 So definitely, I would say that minimum once. If you can, six months is a good time. 250 00:17:22,494 --> 00:17:28,094 Sometimes, in fact, every time over the last two decades I talk to my clients, you will need 251 00:17:28,514 --> 00:17:31,894 clients who ever ever meet you know you you meet your financial consultant 252 00:17:31,894 --> 00:17:34,854 or planner it doesn't mean that we're buying things every 253 00:17:34,854 --> 00:17:37,734 time you meet right it's not it's not most of the time you 254 00:17:37,734 --> 00:17:40,534 do realize that it's really a review just like 255 00:17:40,534 --> 00:17:43,354 we go for medical checkup it's the same analogy we go for 256 00:17:43,354 --> 00:17:46,074 medical checkup doesn't mean that we are there to 257 00:17:46,074 --> 00:17:49,534 there to pay for any treatment or or 258 00:17:49,534 --> 00:17:52,294 buy any medicine or true right you see when 259 00:17:52,294 --> 00:17:56,114 you see a doctor you do semi-annual checkup but you're scared to see financial 260 00:17:56,114 --> 00:18:11,554 planners to do a semi-economic because doctors don't sell things so so i think we. 261 00:18:12,608 --> 00:18:17,888 I think it's a big task Yeah So portfolio review Is important Six months Yeah 262 00:18:17,888 --> 00:18:22,228 So we do urge All our listeners Please be open to it You can always say no To 263 00:18:22,228 --> 00:18:26,048 buying things Then when it's your own Then when it's your own It's a decision 264 00:18:26,048 --> 00:18:28,208 At least have a Have a sit down, 265 00:18:28,768 --> 00:18:35,288 But I also argue that If the gap Is very glaring The gap The gap The gap Is 266 00:18:35,288 --> 00:18:39,768 very glaring I think you should take action Well We need We need We need Then 267 00:18:39,768 --> 00:18:43,628 you realise Time passes As you age It turns harder In any way, 268 00:18:43,668 --> 00:18:44,808 in any portfolio review, 269 00:18:44,988 --> 00:18:47,728 the financial consultant should also consider your probability. 270 00:18:49,128 --> 00:18:54,968 So if you don't manage, come and slap me. So just how Agnes also spoke about 271 00:18:54,968 --> 00:18:57,128 a few things, like SRS and so on. 272 00:18:57,408 --> 00:19:01,948 Maybe what I'm making a bit clear is that the encouraging thing from what we 273 00:19:01,948 --> 00:19:05,708 read in the newspaper is that more and more people have been opening up accounts 274 00:19:05,708 --> 00:19:08,348 for SRS, which means there's a better awareness. 275 00:19:08,348 --> 00:19:12,988 Right I mean for your majority of them having SRS account already because, 276 00:19:15,048 --> 00:19:19,408 they always think that SRS is for people with higher income because then you 277 00:19:19,408 -->

00:19:21,348 can max the tax relief that sounds true okay, 278 00:19:22,588 --> 00:19:27,608 so maybe ask you a more technical question so from your perspective what kind 279 00:19:27,608 --> 00:19:35,168 of salary level will be able to cap onto this most efficient level 80 and above 280 00:19:35,168 --> 00:19:38,548 80,000 and above Of course, 281 00:19:38,548 --> 00:19:42,688 you got to look at the person's personal reliefs and etc. 282 00:19:42,968 --> 00:19:47,788 But you do know that the first of all, Singapore income tax is tiered, right? 283 00:19:47,868 --> 00:19:54,808 And then in terms of whether how much the net savings they really can save from 284 00:19:54,808 --> 00:19:56,768 deferred tax. What tax rate? 285 00:19:58,868 --> 00:20:03,308 I give a general rule on just this. This is when we use our producer. 286 00:20:03,648 --> 00:20:07,388 Say, can you go and find out? I'm like, how come? Like, they give you $2,000, 287 00:20:07,388 --> 00:20:10,108 what's the income tax? The producer hire work leh. Of course. 288 00:20:10,668 --> 00:20:15,348 Now we like, remove producer. Yeah. Okay, okay. Somehow cheap later. 289 00:20:15,768 --> 00:20:18,648 No, not our label, not our label. What? 290 00:20:20,128 --> 00:20:24,188 No, because it's useful to know, right? They don't just say $80,000. 291 00:20:24,228 --> 00:20:27,248 Okay, well, while shipping is signing out, what's the tax rate? 292 00:20:27,308 --> 00:20:32,968 Let's say that's 12%, right? You contribute $15,300, it's just a 11.5%. 293 00:20:32,968 --> 00:20:38,708 With 11.5% of $15,300, you save about $1,000, $6,000, $7,000. 294 00:20:39,168 --> 00:20:44,328 Sorry, sorry, sorry. Just a curious question. You know, Singapore's literacy rate is very high. 295 00:20:45,916 --> 00:20:47,336 Yeah, you're the two of them. 296 00:20:49,816 --> 00:20:53,836 I think Kau Fleur said, the lecture of the future is not those with a career, 297 00:20:53,916 --> 00:20:56,856 but those who learn under their knees. 298 00:20:58,656 --> 00:21:01,836 So, my question is, based on your experience. 299 00:21:02,836 --> 00:21:07,176 Make our literacy rate very high, we're quite advanced, we are a first world 300 00:21:07,176 --> 00:21:12,096 country, do you think we still have a lot of individuals out there that don't 301 00:21:12,096 --> 00:21:15,296 understand what is SRIS for, don't understand then what's retirement you don't understand, 302 00:21:15,816 --> 00:21:20,816 that you need to plan for retirement if you come across this line of work definitely 303 00:21:20,816 --> 00:21:25,416 yes I mean all of us I mean at some point I also started don't know about this 304 00:21:25,416 --> 00:21:27,476 right then you learn about it so, 305 00:21:28,216 --> 00:21:32,696 some I will say that along the years sometimes I do hear like clients they hear 306 00:21:32,696 --> 00:21:37,516 it either from friends colleagues talking about it so I mean it's never too 307 00:21:37,516 --> 00:21:39,656 late you can just find out a bit more is it often too late? 308 00:21:40,056 --> 00:21:42,776 It's not it's in fact you know right now you 309 00:21:42,776 --> 00:21:45,816 just google up up SRS itself and take a look especially if 310 00:21:45,816 --> 00:21:48,756 you find that your income is good news that means you got a pay increment this 311 00:21:48,756 --> 00:21:52,916 year got a huge bonus this year then have a look because you potentially can 312 00:21:52,916 --> 00:21:56,976 defer your in terms of your taxes which means that you pay lesser tax now you 313 00:21:56,976 --> 00:22:01,256 can defer it for the future and save on it with SRS actually CPF the one we 314 00:22:01,256 --> 00:22:05,196 haven't really talked about in the past I think the older folks had this misconception, 315 00:22:05,876 --> 00:22:09,936 that this is a government that will block your money, 316 00:22:10,676 --> 00:22:14,996 it's my money why I cannot you know, Pa Shan do 62, you know that kind of concept. 317 00:22:15,196 --> 00:22:17,816 Yeah, Batam should know better. Huh? Batam should know better. 318 00:22:18,336 --> 00:22:21,336 I don't know, what's the Batam concept maybe? I instantly ask you. 319 00:22:21,396 --> 00:22:22,136 What's the Batam concept? 320 00:22:22,296 --> 00:22:30,176 It's a, I think in the mid 2000s, right, they allowed you to do 2 withdrawals in 1885. 321 00:22:30,991 --> 00:22:35,491 Now you can still do it, except for CPF line contribution. I have no CPF line. 322 00:22:35,671 --> 00:22:37,891 So I lock with you and the button got richer. 323 00:22:39,971 --> 00:22:46,311 Yeah, but Singapore got poorer. So the key thing is, a lot of people see this concept. 324 00:22:46,611 --> 00:22:50,591 So I think listeners, I mean we're not here to say government is good. 325 00:22:51,051 --> 00:22:55,231 I think the government has got a lot of schemes for us to make use of. 326 00:22:55,451 --> 00:23:02,111 You have to use your own decision after you fully understand what can CPF or 327 00:23:02,111 --> 00:23:04,491 SRS do for you before you make the decision. 328 00:23:05,131 --> 00:23:08,131 Don't be afraid of locking in your money because sometimes that's good because, 329 00:23:08,951 --> 00:23:14,811 it's a way from your free will to excise usage of it but it's really for your 330 00:23:14,811 --> 00:23:16,751 longer life. Everybody's really into it. 331 00:23:17,011 --> 00:23:21,451 I strongly feel for this. You just mentioned about savings, right? 332 00:23:21,591 --> 00:23:27,711 What was the most powerful savings tool in Singapore? Who ah? CDN? 333 00:23:28,391 --> 00:23:29,891 Actually it is. It is. 334 00:23:31,071 --> 00:23:35,311 Do you know what's the concept behind this? We're getting very cheap. 335 00:23:35,691 --> 00:23:39,151 What's the concept? Kumpaw. Kumpaw. So you see, first of all right, 336 00:23:39,271 --> 00:23:41,551 we save first before we spend. 337 00:23:42,471 --> 00:23:44,671 It's deducted immediately, the salary first. 338

00:23:45,691 --> 00:23:49,991 So it's the same. Then after that, you know, so 80% comes to our net pay. 339 00:23:50,151 --> 00:23:54,691 Then this 80%, do you do the same for yourself? You save another round first, then you spend. 340 00:23:55,738 --> 00:24:00,418 So one of the tips that I like to share with my clients, especially those who 341 00:24:00,418 --> 00:24:04,538 are spenders, all of us, when we first graduate and then come out and work, 342 00:24:04,598 --> 00:24:06,278 we find that, hey, I finally can buy this. 343 00:24:06,358 --> 00:24:10,058 I can finally dine at this restaurant. So how about like this? 344 00:24:10,258 --> 00:24:12,938 Go and open another bank account. 345 00:24:13,998 --> 00:24:18,798 Set up a new bank account and then do not ask for ATN card for that bank account. 346 00:24:18,978 --> 00:24:21,838 And then ensure that you credit your savings. 347 00:24:22,198 --> 00:24:25,438 But those three are in debt. you will see the accumulation really 348 00:24:25,438 --> 00:24:28,858 go higher I've shared this with a lot of my clients 349 00:24:28,858 --> 00:24:31,718 and they work especially that's their first savings pot and from 350 00:24:31,718 --> 00:24:35,098 there they grew tremendously but the account 351 00:24:35,098 --> 00:24:37,998 also must be hardworking because normal CASA only 5 bps 352 00:24:37,998 --> 00:24:40,738 0.05% you're talking 353 00:24:40,738 --> 00:24:43,478 about returns what I mean is at least you get 354 00:24:43,478 --> 00:24:49,058 some savings some cash liquidity is also important it's cost savings you need 355 00:24:49,058 --> 00:24:55,438 some cash liquidity ultimately cash is king unless you're borrowing for other 356 00:24:55,438 --> 00:25:00,438 users that will bring you more returns maybe it's good to talk about the high 357 00:25:00,438 --> 00:25:03,098 interest rates now, what does it do differently? 358 00:25:03,658 --> 00:25:06,438 Okay, that's a good question like seriously you mentioned some people have bonus 359 00:25:06,438 --> 00:25:12,398 right, okay one of the things that we face is besides savings is debt management, 360 00:25:12,858 --> 00:25:19,378 that means the collaterals or the liabilities we have, so one of the key thing is. 361 00:25:20,178 --> 00:25:23,618 To clear up the debts because especially with high interest environment. 362 00:25:23,878 --> 00:25:27,298 Do you know what's the... Okay, so for example, a housing loan, car loan. 363 00:25:27,758 --> 00:25:32,458 These two, can I say, is most of us probably, I mean, maybe both of you are 364 00:25:32,458 --> 00:25:35,458 already free from all loans. Can I speak for all our audience together? 365 00:25:35,738 --> 00:25:39,938 So do you all know in terms of housing loan and car loan, which one is higher 366 00:25:39,938 --> 00:25:41,358 interest rate? Car loan. 367 00:25:41,798 --> 00:25:44,838 Wow. All the genius here. Genius, genius. 368 00:25:46,138 --> 00:25:51,358 Okay. So for example, the car loan right

now, like example DBS about 2.78 say 369 00:25:51,358 --> 00:25:55,178 2.78 do you know what's a net effective six well done. 370 00:25:57,618 --> 00:26:04,278 Housing wrong test it does now about 3.7 yes yes okay it's about three about 371 00:26:04,278 --> 00:26:08,558 three to three point one yeah uh fix and then floating yeah so what do you say 372 00:26:08,558 --> 00:26:11,478 so unless you're the pro here right so what do you say to people who will say 373 00:26:11,478 --> 00:26:14,398 i don't need all this financial planning just buy a lot of property, 374 00:26:15,255 --> 00:26:19,715 very talented. Valor properties, I see, I mean, properties-wise, 375 00:26:19,835 --> 00:26:24,015 it's a good investment that you should own as one of your assets as well. 376 00:26:24,175 --> 00:26:27,435 But the key thing about investing in properties, 377 00:26:27,815 --> 00:26:33,755 I would say that a few things you need to take into account is the capital outlay 378 00:26:33,755 --> 00:26:39,095 and then subsequently the interest rate and then you also want to know other 379 00:26:39,095 --> 00:26:42,815 things like variables like maintenance cost, property tax. 380 00:26:43,015 --> 00:26:47,715 Do you know property tax? The latest one, I think we have our producer. Let's go. 381 00:26:48,795 --> 00:26:53,175 Okay, if it's occupancy and whether investor-wise, it's different. 382 00:26:53,715 --> 00:26:57,555 There's a jump when you're an investor, okay? So you weigh all this, 383 00:26:57,695 --> 00:27:00,715 and then what about the probability of it being vacant? 384 00:27:00,935 --> 00:27:04,255 Then you will need no income as well. So when you weigh that on average, 385 00:27:04,395 --> 00:27:09,035 when I speak to clients with multiple properties, actually in terms of the net, 386 00:27:09,095 --> 00:27:12,215 the net-net, right, it's probably hovering. 387 00:27:13,975 --> 00:27:19,635 It's not that high so you can only get from capital gain so you're hoping for 388 00:27:19,635 --> 00:27:24,315 property yeah the cost yeah yeah hey we thought a lot when have you asked about 389 00:27:24,315 --> 00:27:29,455 Gen Z I just want to post one topic that England's talked about which is when 390 00:27:29,455 --> 00:27:32,175 you have bonuses right one time then you talk about, 391 00:27:32,795 --> 00:27:38,375 a impact that can you elaborate a bit for the girls maybe I feel that point 392 00:27:38,375 --> 00:27:44,335 not very clear yet what do you mean by that okay Okay, so if you have, for example... 393 00:27:44,335 --> 00:27:45,895 So now I receive a bonus, right? 394 00:27:46,075 --> 00:27:53,395 A lot of money, a lot of money. So what do I do with it? So I have loans. 395 00:27:53,795 --> 00:27:57,955 Is that what you mean? Yes. So the highest one, right? 396 00:27:58,015 --> 00:28:01,935 In fact, if you have credit card debt, obviously that is even higher. 397 00:28:02,115 --> 00:28:03,775 Clear off credit card first. 398 00:28:04,115 --> 00:28:08,835 Okay, then next, if you have car loan, clear off the car loan because car loan, 399 00:28:08,895 --> 00:28:12,215 if active rate is near to 6%. Okay, can somebody break car loans? 400 00:28:12,635 --> 00:28:15,875 Okay, so you can check. Usually after probably about two years, 401 00:28:16,035 --> 00:28:19,775 you can break the car loan. Yeah. Okay, then you can just redeem food. Correct. 402 00:28:20,585 --> 00:28:26,125 And then obviously is your housing loan which is by right in terms of the interest 403 00:28:26,125 --> 00:28:30,845 out of all these loans so that will be the later and priority for you. 404 00:28:30,965 --> 00:28:35,105 Yeah, it's just for the listeners to clear your debt. 405 00:28:35,225 --> 00:28:39,085 I think that's the advice coming through once you have like a bit of win-for-win stuff. 406 00:28:40,845 --> 00:28:45,325 Would you advise during using all your bonus to clear or still keep some? 407 00:28:45,665 --> 00:28:48,645 Oh no, I always say that you must have your own liquid cash emergency. 408 00:28:49,145 --> 00:28:52,525 So like I mean, no matter what expenses, right? 409 00:28:52,585 --> 00:28:56,645 Like, what if your family needs to offer whatever purpose for rainy days or 410 00:28:56,645 --> 00:28:57,865 this? So, you keep an amount. 411 00:28:58,205 --> 00:29:02,825 And at the same time, another... So, three pots. One pot is for your own emergency. 412 00:29:03,025 --> 00:29:04,265 Another pot is for you to grow. 413 00:29:04,765 --> 00:29:08,125 Okay? That you can even beat higher interest rate, all this debt. 414 00:29:08,265 --> 00:29:10,445 And then the third pot is for you to clear debt. So, three pots. 415 00:29:11,165 --> 00:29:16,025 Okay. Gen Z question. So, we talk a lot. Yes. We ask a lot of advice to beginners. 416 00:29:16,605 --> 00:29:19,765 We don't even ask the view of a Gen Z. Who happens to be our producer? 417 00:29:21,485 --> 00:29:25,845 Half-time producer okay so what do you think about this, Shae Lee? 418 00:29:26,285 --> 00:29:31,125 Actually I have a question for Adnaz because a lot of Gen Z now we are either 419 00:29:31,125 --> 00:29:36,605 students or someone who just started the work for like maybe one or two years or like three, 420 00:29:36,705 --> 00:29:42,685 four years max and my question to you is how can we actually pick up financial planning because, 421 00:29:43,325 --> 00:29:47,565 we don't really have a lot of CPF and we haven't most of us haven't bought a 422 00:29:47,565 --> 00:29:52,885 house yet we also don't have car then how do we start to build on our financial 423 00:29:52,885 --> 00:29:56,185 planning and how do we pick up all these like not every, 424 00:29:57,085 --> 00:30:04,165 not every one of us knows any FC or like FA or how do we reach out to all of you call A&A. 425 00:30:05,745 --> 00:30:12,125 We hear from we hear from how do we reach out okay so your question is about 426 00:30:12,125 --> 00:30:18,745 how do you reach out I think

firstly we do recognize that even a lot lot of 427 00:30:18,745 --> 00:30:20,005 people in your peer group, 428 00:30:20,105 --> 00:30:25,225 they are right now trained FCs or financial consultant and financial advisor. 429 00:30:25,385 --> 00:30:27,705 Talk to your friends first, right? I think that's most important. 430 00:30:28,485 --> 00:30:30,445 Don't hesitate to even talk to your parents. 431 00:30:31,370 --> 00:30:37,990 I have kids, so I do, well, now we have this discussion about financial planning all the time. 432 00:30:38,350 --> 00:30:43,250 And I think Gen Zs these days, compared to my generation, the boomer, 433 00:30:43,290 --> 00:30:46,970 are more aware, are actually more willing to do investment these days. 434 00:30:47,010 --> 00:30:48,630 So I think that conversation can be opened. 435 00:30:48,790 --> 00:30:51,770 But I would encourage you guys, maybe start with your parents. 436 00:30:51,890 --> 00:30:57,530 Because most of your parents may actually be quite good at financial planning. You never know. 437 00:30:58,130 --> 00:31:01,290 I've got one thing, what not to do. go look at. 438 00:31:03,130 --> 00:31:09,390 Social media because social media got a lot of funny funny things right like 439 00:31:09,390 --> 00:31:14,310 how you make money overnight on Instagram sit down and do nothing and make money 440 00:31:14,310 --> 00:31:19,670 I think all these hoax okay so I think that's what we were hoping to do a podcast, 441 00:31:23,330 --> 00:31:28,870 very interesting then we make some money so there's a lot of such things on 442 00:31:28,870 --> 00:31:33,150 social media like least effort, work one hour a day and make millions. 443 00:31:33,610 --> 00:31:38,350 So don't fall out of track with those. There's no easy money. There's not easy money. 444 00:31:38,830 --> 00:31:43,350 There's smart money to be made. There's no, really there's zero effortless money 445 00:31:43,350 --> 00:31:46,110 to be made. Unless you're integrated back in school. 446 00:31:46,530 --> 00:31:49,610 Then maybe it's not so easy. Anyway, let's ask the question. 447 00:31:49,690 --> 00:31:51,230 The question was very direct actually. 448 00:31:52,070 --> 00:31:54,790 She's very cool. She said that to me and I said. 449 00:31:59,630 --> 00:32:05,250 I would think that 450 00:32:05,250 --> 00:32:10,950 in terms of what like Dennis just said social media wise also whatever that 451 00:32:10,950 --> 00:32:22,590 you see do a bit more research don't just take it take it at lame methods and then, 452 00:32:23,230 --> 00:32:27,870 sometimes like Like, you know, even if, first of all, like what TK said, 453 00:32:27,950 --> 00:32:29,150 after you're speaking with your parents, 454 00:32:29,310 --> 00:32:33,070 maybe in terms of your friends, someone who can recommend you to a professional, 455 00:32:33,230 --> 00:32:38,490 someone who has the, in terms of professionalism and understanding more about 456 00:32:38,490 --> 00:32:40,230 the concepts of financial planning. 457 00:32:40,330 --> 00:32:44,170 And then here, just like how we see doctors, maybe you want to go to two so 458 00:32:44,170 --> 00:32:45,810 that you can have a second opinion. 459 00:32:45,990 --> 00:32:49,390 And then from then, then you learn in terms of which one you digest more, 460 00:32:49,470 --> 00:32:51,870 which one you can relate more, then you stick with that person. 461 00:32:51,870 --> 00:32:53,630 Pushkin, have you started investing? 462 00:32:54,641 --> 00:33:03,281 Actually started like since last year of poly and I spent some money on crypto but. 463 00:33:04,601 --> 00:33:10,721 It became my school fee okay so actually I don't know a lot of people. 464 00:33:11,761 --> 00:33:17,481 Got to learn about investment but pay school fees through crypto and NFT last 465 00:33:17,481 --> 00:33:25,421 2-3 years wow NFT and crypto a lot of losses because of that But do you think 466 00:33:25,421 --> 00:33:27,901 that people actually get rich by buying crypto? 467 00:33:28,441 --> 00:33:32,101 I think that's very hard to comment. Maybe that's another conversation. 468 00:33:32,321 --> 00:33:34,441 Because there's a lot of technical things to do. I tell you what, 469 00:33:34,681 --> 00:33:39,481 I'm not here to debunk the need for crypto. I think that it's there for a reason. 470 00:33:40,341 --> 00:33:45,601 It's there for the new world. But I think do research. There's no quick, rich, get rich. 471 00:33:46,521 --> 00:33:51,321 Actually, there's a lot of crypto people. And they always throw their money around. 472 00:33:51,321 --> 00:33:55,981 Then thinking that you just buy gold crypto you can tax for it to the moon so 473 00:33:55,981 --> 00:33:59,601 just do your research I don't think it's all bad I don't think it's all good, 474 00:34:00,261 --> 00:34:05,061 sometimes it's also demonised right because of whatever happened in the world 475 00:34:05,061 --> 00:34:06,681 but just do your own research, 476 00:34:07,181 --> 00:34:12,041 that's what Agnes said ask a few people do a deeper research then understand 477 00:34:12,041 --> 00:34:16,201 yourself at the end of the day you don't do things that you're not really good at, 478 00:34:17,221 --> 00:34:22,101 if your financial planner is not giving you the right advice or giving you dodgy advice, 479 00:34:23,061 --> 00:34:24,441 then change to another one. 480 00:34:24,701 --> 00:34:29,341 Okay, let's come back to the duty again, which is at the start of the year, financial planning. 481 00:34:29,641 --> 00:34:34,761 We talked about using your goal. Who's better? 482 00:34:39,181 --> 00:34:44,281 I think I'll ask the question for myself. Okay, we talked about SRS, 483 00:34:45,101 --> 00:34:47,281 CPI, anything else we can do about CPI? 484 00:34:47,381 --> 00:34:52,781 Yeah, so TK, maybe you want like in fact you know just before we start I hear 485 00:34:52,781 --> 00:34:56,581 so much thing about CPF from you maybe can you share with us I'm a, 486

00:34:57,201 --> 00:34:59,941 passionate supporter of CPF some of my friends we 487 00:34:59,941 --> 00:35:04,841 have in fact huge debate over CPF one or two of my friends surprisingly well 488 00:35:04,841 --> 00:35:09,341 educated they are very like I want my money must work out CPF that kind of concept 489 00:35:09,341 --> 00:35:14,021 all the time so I'm very passionate about it so firstly CPF I think it's important 490 00:35:14,021 --> 00:35:18,021 to know what kind of tax relief you can get through contribution, 491 00:35:18,956 --> 00:35:22,316 So, if you go to CPM, the website, a lot of information there. 492 00:35:22,496 --> 00:35:26,096 You can actually get some tax relief by contributing to yourself. 493 00:35:26,416 --> 00:35:31,656 You can contribute to your loved ones, Taiyi dependent. You can get some tax relief as well. 494 00:35:32,096 --> 00:35:34,416 Both is set at $8,000 each. 495 00:35:35,516 --> 00:35:40,756 Last but not least is also contribution to your Medisave, especially this year 496 00:35:40,756 --> 00:35:42,956 because the cap has been increased another $3,000. 497 00:35:43,036 --> 00:35:46,096 So, that's another way you contribute and get some tax relief. 498 00:35:46,096 --> 00:35:51,856 But there are caveats and qualifiers as to what contribution you can get tax 499 00:35:51,856 --> 00:35:54,296 relief. So you need to find out. Maybe I quote one example. 500 00:35:55,156 --> 00:35:57,476 So a lot of people think, okay, I contribute $8,000 to myself, 501 00:35:57,576 --> 00:35:59,076 I get tax relief of $8,000. 502 00:35:59,276 --> 00:36:03,936 Not true, because there are certain conditions that you have to meet in order to do that. 503 00:36:03,996 --> 00:36:11,476 For example, if your special account is already more than the standard retirement 504 00:36:11,476 --> 00:36:15,156 amount amount that the government wants you to put in when you reach 55, 505 00:36:15,456 --> 00:36:17,496 whatever you put in, no tax relief. 506 00:36:17,836 --> 00:36:23,116 Keep it to it. Correct correct. Yeah? If your spouse or your dependent, 507 00:36:23,236 --> 00:36:28,376 you contribute the $8,000 thinking that you get tax relief, but if the individual 508 00:36:28,376 --> 00:36:31,556 earns more than $4,000 a year, no tax relief also. 509 00:36:31,856 --> 00:36:37,676 So only if your dependent is not an income earner, then the tax relief applies. Correct? 510 00:36:39,130 --> 00:36:42,190 So yes, CPF can also get a lot of tax credit. 511 00:36:44,030 --> 00:36:47,770 I think it's the same as when I was at Lucifer 5.0, my podcast. 512 00:36:48,990 --> 00:36:51,630 If you think me, I just came from a large MES and CPF. 513 00:36:53,770 --> 00:36:58,670 So anyway, since we're talking about it, over lunch, I realized now we can make 514 00:36:58,670 --> 00:37:01,090 CPF a nomination through their website. 515 00:37:01,250 --> 00:37:03,510 I never realized that. Huh? Yeah, you can already. That's so cool. 516 00:37:04,250 --> 00:37:07,790 It's been a while. Is it? Yes. Then you can do... Oh, okay. 517 00:37:09,850 --> 00:37:14,130 I always thought you need witnesses no no no them witnesses they also trigger 518 00:37:14,130 --> 00:37:20,450 through sin pa yes very good yeah yeah do you know CPM nomination along the 519 00:37:20,450 --> 00:37:24,110 last two decades I always ask my client do you know that when you get married, 520 00:37:24,870 --> 00:37:30,770 it voids it voids whatever that we did previously but actually you never realize 521 00:37:30,770 --> 00:37:35,250 it voids yeah then do you know what about divorce do you know what about divorce 522 00:37:35,250 --> 00:37:39,170 same thing it doesn't void Oh, really? Oh. 523 00:37:40,270 --> 00:37:42,150 That's it. Fact 101. 524 00:37:44,310 --> 00:37:49,830 So, Luthia, those CPM members, you just heard Agnes talking about different situations. 525 00:37:50,290 --> 00:37:56,970 Do review your nomination. So, in a nutshell, I guess, in a nutshell, 526 00:37:57,190 --> 00:37:58,610 it's all not too complicated. 527 00:37:59,150 --> 00:38:03,750 Just spend some time, speak to your financial planner or if you don't have a 528 00:38:03,750 --> 00:38:06,190 financial planner, speak to Sheppi. 529 00:38:06,290 --> 00:38:09,670 No, no, no. Sorry. sorry don't speak to Shafiq speak to Agnes 530 00:38:09,670 --> 00:38:12,510 yeah don't speak to TK because his is just by 531 00:38:12,510 --> 00:38:15,610 the way knowledge by the way he's not qualified again 532 00:38:15,610 --> 00:38:21,490 I stress neither TK nor me are qualified to give manager advice yes so speak 533 00:38:21,490 --> 00:38:25,870 to Agnes okay so speak to you so this looks like quite a lot of topic and we 534 00:38:25,870 --> 00:38:30,750 only got shaping the talk once or twice yeah maybe we continue yeah we should 535 00:38:30,750 --> 00:38:33,510 have another Gen Z another Gen Z praise Z, 536 00:38:34,070 --> 00:38:37,630 no we talk about Gen Z deal with all the world okay Okay, okay, okay. 537 00:38:39,473 --> 00:38:44,633 Thing like quiet recitation. Yeah, yeah, yeah. And why they think why they are 538 00:38:44,633 --> 00:38:52,653 camping where is Roger we don't know where we might do this in time before all these camping things. 539 00:38:52,793 --> 00:38:57,373 Okay, let's unravel Gen Z is lying very, very soon. So the producers will do 540 00:38:57,373 --> 00:38:58,473 more work for the next episode. 541 00:38:58,613 --> 00:39:01,153 Okay, prepare questions for once, not just me. 542 00:39:01,453 --> 00:39:06,113 Yeah, okay, good. The re-end here. Yeah, very good. So, thank you Agnes for 543 00:39:06,113 --> 00:39:08,973 joining us. Thank you for having me. Thank you Thank you, Sheping. 544 00:39:09,313 --> 00:39:12,393 Thank you, Chee. She's actually here supposed to take photograph and video, 545 00:39:12,473 --> 00:39:15,973 but I never took photograph and video. Yeah. Have a look. 546 00:39:19,513 --> 00:39:24,753 So, thanks again all listeners for listening in. Hopefully, the last 30 over 547 00:39:24,753 --> 00:39:26,493 minutes or 40 minutes is useful. 548 00:39:26,853 --> 00:39:33,313 And this will start off your year of the dragon with a war and such that you 549 00:39:33,313 --> 00:39:34,193 can start your relationship. 550 00:39:34,993 --> 00:39:40,773 Then, speak higher. Speak higher. Amor Dragon Chinese Dragon, 551 00:39:42,993 --> 00:39:52,413 Amor Dragon Spitfire don't watch TV don't watch Channel 8 don't watch Channel 5, 552 00:39:53,553 --> 00:39:59,033 okay so we sign off wishing everybody a happy new year again I think Sanjit 553 00:39:59,033 --> 00:40:03,893 Jengkham Sanjit Jengkham was in Baton help is also very important right help 554 00:40:03,893 --> 00:40:07,453 is very important that's well alright so take care signing off bye. 555 00:40:10,000 --> 00:40:18,051 Music.