Shanghai Disneyland

The Shanghai Disneyland is officially open today, after years of construction.

At today's trading hours in Hong Kong market, Shanghai Jinjiang Hotel International Group (HK:2006) which is the subsidiary of Chinese Government owned Shanghai Sendi Group is trading between $2.84-$2.91. How will the share price perform in the future? We'll see.

As for Hang Seng Index futures, market is trading below 20000 for June contract; after touched highest at 21157 on the 8th of June. So far, the trading range for HSI is between 19900-21157 (1257) in the first half of the month. 

Resistance is found at 21150; next 21350. On the downside, we think market is testing 19448. Further down, 18850 is far support. At the time of writing, HSI June futures contract is trading at 19942 (-327); while cash market is trading at 20108.05 (-359.47). 

Important people in our life

Apart from your family and your loved one, there are a few important people in your life could help you succeed in your life and financially.

These VIP are known as accountants, brokers which include property or equity brokers, bankers, solicitors, insurance agents and tax advisors.

If you could not find a good accountant, it is better for you to be the one. After all, it is best to know your own financial situation rather than leave it to accountants! Plus, it save your money if your don't hire one.

If you are running your own business or you are holding a high position in corporate life, you certainly need a good broker to get the best deal for you, in order for your investment to grow. Unless you are the one who do your own research and you are the one who make the deal. Again, it save you broker fees!

Sometimes you need a banker to advise you what is the latest trend in the banking industry. Interest rate changes, latest deposit rate or borrowing rate etc. A banker can help to make your money work harder.

It is a good idea to have a trusted solicitor to help you in advising all the legal matters. Not that advising on how to run away from tax man; but at least to help in speeding up the legal process in your business or buying and selling investment properties. 

Whether are you rich or not, we think it is a good to have an insurance agent in providing services and advices on protecting your life and your assets. From advising what is the appropriate insurance package to have in different stages of life and helping in making claims whenever we need it. We definitely need this person's help!

And finally, everyone wish to have more money in their account rather than donating them to the government- the tax department! If you have a tax advisor, he might be able to help you to save some money so you have extra allowances for holiday!

These are the people we think are important in helping us succeed in our life financially. However, the most important person still "us" who make the decision and execution!

What's happening in June?

May month is not that bad after all. Although there was a sell down at the beginning of the month, market started to rebound in the middle of the month. So, what's next in June?

Today the active futures contract for Hang Seng Index futures is June month and it was traded between 20294-20719 (425). Closing at 20474 (+157), it was 341 points discount compared to the cash market which closed at 20815.09 (+185.70).

For Hang Seng Index futures, we see next resistance at 20650. Next target 21000-21100. Downside supports are 20380, next 20100.

In Malaysia, today is the expiry for KLCI May futures contract. Market might consolidate between 1620-1640 in near future. Upside resistance, 1660; next 1680. Support 1608.

Simple steps to become a millionaire

We've read articles about how to become a millionaire. We have real life examples of millionaire friends and relatives advices of not only work hard and work smart; effectively manage our finance is also crucial to maintain a millionaire lifestyle. Below are a few tips for sharing:

1. Set a weekly or monthly spending budget

Is that necessary to set a spending budget? You will be surprised to find out a healthy spending budget will save you on unnecessary spending. In long run, the saving could turn into a budget for your car or even a house. 

2. Track and record daily expenses

Sounds like a complicated job? It is always hard to begin with. But once you've started recording daily expenses neatly and continue with discipline, you can easily summarise them into a monthly expenses and from here you know where your money is spent.

3. Pay yourself first

Whenever the wage is out and paid into your bank account, always remember to set a portion of savings aside before you start using the rest of the money.

4. Saving for a purpose

If saving without a purpose, it is easy to use up the money once you see the numbers in the bank account. Saving for a purpose, such as for a new house, for higher education or to invest etc. Saving for a purpose will remind us not to use up the fund easily, unless for emergency.

5. Insurance for protection

If you think paying for an insurance is unnecessary, please think again. Although paying for insurance is like an expenses, the money is flowing out from your bank account. But then, when you need to make a claim from the insurance company, you would be grateful for having them.

6. Set up an emergency fund

Sometimes bad things happen in life. Losing a job, need a big expenses for medical treatment etc. It is wise to have at least 6 months spending expenses as an emergency fund for backup, just in case you are unable to work for a few weeks or months.

7. Funds allocation

Once saving and emergency fund is build up, allocate the extra fund you have for investment purpose. Buying a property, invest in share market or other potential business etc.

8. Start invest and grow the assets

It is never too early to start invest and grow your assets. It takes patience, time and effort to invest and let the assets appreciate in value. Your first investment might not make money; or you might fall into investment trap. Therefore it is advised to invest as early as possible. Learn from mistakes and accumulate the experience.

9. Wealth management

When your net worth reaches a certain amount; or your cash and assets had reached a certain level, it is time to manage your wealth. Learn how to protect your assets, manage your finance and cash flow as well as continue to grow the assets. 

10. Increase cash and asset, reduce debt

When your earning power is great, it is also translate into a higher spending power. Effectively using the high earning power to increase your cash flow and assets; try your best to reduce bad debt is the way to make your money grow more.

11. Spend within your means

It is not easy to spend frugally especially you know how rich you are. It requires discipline to spend within your means and live a down to earth lifestyle.

12. Retirement planning

Just like saving and investing, retirement planning is never too early to think ahead. While planning for your expected retirement lifestyles, it is always a good idea to plan it financially too.

13. Financial education

There is no way to execute Step 1-Step 12 without proper financial education. Read up on financial magazines and personal finance books; attending seminars and talking to people you know etc. These are the ways to increase your financial knowledge. Never give up if you fail and keep learning from the lessons and investment mistakes.

14. Charity

It is a blessings if you able to help the needy financially. If not financially, donation in terms of material or spend time and effort for charity work.

15. Don't forget to have fun

There is no point to have loads of money in your account but feeling empty or unhappy in your life. What is the point of working so hard to make so much money? Don't forget to have fun, enjoy life and spend the money when necessary. At the end of the day, there is no point having loads of money leaving for your loves one, but you are the one who don't use them.

Conclusion: Sounds boring? If these are the steps and actions can guarantee a financial free and stress free lifestyle, no harm in trying. No matter what is your occupation and how big is your earning power, we believe live frugally, spend wisely, invest smartly and manage our finance efficiently are keys to maintain a healthy and wealthy millionaire lifestyle. And also, enjoy your life and have fun.

What is your net worth?

What is your net worth? According to Google's definition, net worth is defined as assets minus liabilities. For an individual, it represents the properties owned, less any debt the person has. For a company, net worth is the value of the company.

Is that a good news if an individual has no debt? From the accounting point of view, of course! It means you have assets or cash and without debt, this shows the net worth is positive.

But to a Bank's point of view, an individual with positive net worth is risky to deal business with. The bank is less likely to borrow money to an individual without loan repayment history and therefore it is not easy for the individual to borrow money for business expansion or purchase property.

If you were given a choice, do you want to be the individual who is free of debt or full of bank debt? 

How low is market going?

All Asia Pacific market ended in red on Friday closing! Nikkei was the worst performing market finished down 1.41 percent. Followed by Malaysia down 1.26 percent then Hong Kong market, lost 0.99 percent.

Range of the week for Hang Seng Index spot futures was traded between 19448-20253 (805). The futures lost 199 points settled at 19604; cash market lost 196.17 points finished at 19719.29 on Friday afternoon.

KLCI Index spot futures was traded between 1610.50-1652.50 (42.00) during last trading week. Cash market lost 20.72 points finished at 1628.26 while May futures contract finished down 22.50 points at 1621.00.

Dow Jones dropped 185.18 closed at 17535.32 on Friday. We expect Asia market to open lower on Monday morning. For HSI, we see the support at 19000; and for KLCI, supports are 1600, next 1580. On the upside, short covering might push HSI to 19950 or higher to 20300. For KLCI, resistance is seen at 1640.

35 things to do before the age of 35

We were cleaning our home office few days ago and we found a note written '35 things to do before the age of 35'. A note written few years back when we just started J&M Investments Portfolio.

Becoming a millionaire, owned multiple passive income, travel the world, run a charity fund, having our own kids etc. These could be the lists everyone is dreaming...the list goes on and on. Of course, we couldn't thought of 35 things to do. In fact, we only have 19 items on the lists and we had achieved quite a lot these few years before our deadline- the age of 35 which is in 12 months! 

Looking back, it is not how ambitious we were writing these goals. Setting reasonable and achievable goals within certain time frame let us foresee our futures; on and off looking at and reviewing what we wrote push us go further along the journey we wanted to travel. At the end of the day, it is not the goals that make us proud, it is the journey we went through that shaped us who we are today.

When the deadline reached, it will be a time for us to reset our new goals, new future and begin a new journey. No matter this is a journey towards a life goals, career goals or financial goals, we are trying our best to enjoy the journey, welcome all the obstacles and celebrate all the happiness and winnings.

Have you set your goals? If not, it is not too late to start now.