KUALA LUMPUR, Nov 7 (Bernama) -- Bursa Malaysia staged a modest pullback to end lower today, driven by profit-taking after a four-day rally, amid the mostly higher regional market performance, an analyst said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) dropped 10.89 points, or 0.66 per cent, to close at 1,623.28 compared to Wednesday’s close of 1,634.17. The benchmark index opened 1.97 points higher at 1,636.14 and fluctuated between 1,622.75 and 1,639.55 throughout the day. Market breadth was negative, with decliners thumping advancers 641 to 466, while 507 counters were unchanged, 792 untraded, and 10 suspended. Turnover expanded to 3.77 billion units valued at RM3.41 billion versus 3.39 billion units valued at RM2.92 billion on Wednesday. UOB Kay Hian Wealth Advisors head of investment research Mohd Sedek Jantan said that despite the fall in the FBM KLCI today, it remains elevated compared to last week as pro
As the year 2009 is coming to an end, we should start setting financial goals for year 2010. Financial goals are needed so that we can control our day-to-day financial affairs which will be executed by creating and following a budget. Good financial goals are usually realistic and achievable and will give satisfaction to one. It doesn't serve a purpose if a person earning 10,000 a year setting a goal which is to save 20,000 a year because it is impossible to achieve. Not only that, it will then demoralize him or her.
There are few steps to set financial goals:-
- Identify and write down your goals.
- Break goals down into short-term goals and long-term goal - timeline could be differ; eg. some might take few months as short-term where as some will consider it as long-term
- Educate yourself and plan - Learn the debts and assets that we have, and to look into the expenses. Then plan a budget. Follow the budget with discipline and diligently.
- Evaluate your progress - it doesn't serve a purpose to have goals where we do not strive to achieve it, right?
Just like the rest of the people, I also have certain goals and adjustments that I make every year. Example would be, for the year 2009, I have targeted 20% growth in my stocks portfolio, in which I successfully did and I might figure to have the 20% growth change this year. More generic financial goals for this year would be:-
- Continue tithing.
- Clearing 10% debt (both car loan and education loan).
- Stocks portfolio to grow another 20% (this would be review quarterly).
We still have about 4 days before 2010. Start setting your financial goals for year 2010, and by end of the year, see how many goals that we have achieved. There are no hard ways and fast rules for implementing a realistic financial goal. The important thing is to do it and to start NOW!!
Have you set your financial goals for the year 2010? If so, do share it out :)
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