{"id":54931,"date":"2023-01-27T18:00:56","date_gmt":"2023-01-27T10:00:56","guid":{"rendered":"http:\/\/wordpress-my-161844363.ap-southeast-1.elb.amazonaws.com\/articles\/?p=54931"},"modified":"2024-12-16T16:04:10","modified_gmt":"2024-12-16T08:04:10","slug":"financial-freedom-yap-ming-hui","status":"publish","type":"post","link":"https:\/\/www.imoney.my\/articles\/financial-freedom-yap-ming-hui","title":{"rendered":"Interview: Financial Freedom Investing With Yap Ming Hui"},"content":{"rendered":"

What is financial freedom? Chances are that you will likely get a different answer for every person you ask. In order to find out more about what being financially free truly means, we had the opportunity to meet with Yap Ming Hui, Founder and Managing Director of Whitman Independent Advisors and the author of the recently released best-seller: Financial Freedom Investing.<\/span><\/p>\n

Yap is an author, columnist and founder of Whitman Independent Advisors, a licensed independent financial advisory firm which has been helping Malaysians to optimise their wealth and achieve financial freedom since 2000.<\/p>\n

As an expert in investment planning & management, risk management & insurance, retirement planning, estate planning, debt & loan management, iMoney sat down for an interview with him to share his secret to financial freedom. Here’s what he has to say:<\/span><\/p>\n

<\/span>What is financial freedom?<\/b><\/span><\/h2>\n

Most might probably think that financial freedom is having enough money to purchase anything you want. However, Yap explains that financial freedom is a state of being where your wealth has been optimised to such an extent that it meets your optimum amount of needs and wants.<\/span><\/p>\n

The definition of financial freedom varies from person to person because everyone has different wants and needs to satisfy. A millionaire may not have financial freedom if their wants and needs are more expensive than their millions can afford. On the other hand, a middle class person may obtain financial freedom if their wealth is more than enough to meet their own less expensive set of wants and needs.<\/span><\/p>\n


\nYou will see that there are two components of this definition. <\/em><\/p>\n

Number one is to grow your money to optimise wealth without taking too much risk. The second component is about identifying your financial goals, needs, wants, how much you need, and whether these goals are realistic. - Yap Ming Hui<\/em><\/div>

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<\/span>How can investments help Malaysians?<\/b><\/span><\/h2>\n

Growing up, we are often taught to save as much money as we can. As we grow older, we might begin dabbling with fixed deposits to help supplement our wealth growth in addition to things like EPF. <\/span><\/p>\n

However, some might be a little reluctant to begin their investment journey. Yap argues that while savings and fixed deposits do help you gain some money, your wealth will ultimately still be at risk of inflation.\u00a0<\/span><\/p>\n

This is because interest rates offered by banks on savings and fixed deposit accounts do not keep pace with the inflation rate. While the amount in your accounts will earn some returns, the overall value (amount you can buy with it) of your savings is decreasing each year.<\/span><\/p>\n


\nA lot of people like to save their money in fixed deposits. However, they may not really understand the impact of inflation on their money. By putting money into a fixed deposit, you will be earning interest, but at the same time suffering the depreciation caused by inflation. So over time, your money is shrinking. - Yap Ming Hui<\/em><\/div>
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As such, he advocates for Malaysians to put some of their wealth towards investments. While there are risks involved with investing, Yap believes that it is a necessary part of helping us achieve financial freedom and a golden retirement.\u00a0<\/span><\/p>\n

<\/span>The signs to look out for before investing<\/b><\/span><\/h2>\n

While there is an abundance of investment opportunities for us to invest in, choosing the wrong investment to put your money into can quickly lead to you losing all of it. Not to mention the possibility of scam investments.<\/span><\/p>\n

The key to successful investments involve looking those that conform to the SRB principle:<\/span><\/p>\n