During the Chinese New Year period, I managed to meet up with quite a number of friends. Most of them seem to be doing fairly well, with fancy cars and more to show. However, on further discussion, I found out that most of them have not done any financial planning. Either they do not understand what is financial planning, do not know how to do it or simply can’t be bothered Many also seem to have the misperception that financial planning is just about insurance planning. Without financial planning, I can already forsee certain problems that will arise eventually if no corrective action is taken. Loss of Purchasing Power Due to Inflation There have been many complaints about rising costs of living and the blame is all on the government. However, inflation is an established fact of life and only those who take precautionary measures will be able to deal ......