I am Stev Yong and This is How I Ride

By Stephen Yong

What car does a financial planner drive? Wealth Vantage Advisory is pleased to launch our “Have a Plan: How I Ride” series. Our first financial planner is our Chief Knowledge Officer Stev Yong who is also the founder of MyPF. This is the story of how he rides – both literally and financially.

Hey y’all. Stev here and this is how I ride – be it my finances or my literal ride.

Q1. What Car Do You Drive?

I drive a second-hand Honda City which I bought in cash, therefore avoiding paying loan interest. This is my third car after a second-hand Proton Iswara, which previously belonged to my parents (thanks, mom and dad!), and a second-hand Proton Wira that I also bought with cash.

Stev’s second-hand Honda City, bought in cash.

Q2. What Influenced Your Car Choice?

I am reminded of advice from Dato’ Boonler Somchit (retired CEO of Penang Skills Development Centre) that a car is just to get you from point A to point B. And, advice from Dato’ Seri Cheah Cheng Hye (Co-Chairman & Co-Chief Investment Officer of Value Partners Group) to get a reliable quality car (i.e. Japanese make) that will serve you well and depreciate slower in value.

With that in mind, I figured I could do with a car that is reliable, not necessarily brand new, easy maintenance, and of a make whereby spare parts are easy to find.

I started by narrowing my search to Japanese cars, and from there checked what second-hand options were available. I read reviews and asked around about spare parts availability. In other words, I looked for one that is most cost-effective of all the choices available to me at the time.

Recently, we were blessed with a new addition to our family so I may yet change cars with a stronger focus on safety. Ideally, our next choice should be something that can be paid for fully in cash from our passive investments.

Despite additional maintenance plus wear-and-tear costs, I estimate to have saved at least 50% in vehicle costs overall compared to if I had bought a new car of similar type.

Q3. What are the Car Maintenance Expenses?

From the time I bought this car in 2016, I started to list down all the expected expenses coming with the car such as petrol, maintenance, road tax, etc. The detailed breakdown can be seen from the screenshot of my allocated expenses until 2020.

Stephen’s maintenance costs records.

As you can see in 2016, my expenses for the car totaled more than RM28,000, with RM24,500 from it being the price of the car. The rest of the expenses were to cover the Puspakom fee, refurbishing, and replacing several parts of the car.

In 2017, majority of the expenses were due to servicing the inner part of the engine like the battery and radiator with total cost amounting to RM3,000.

In contrast, in 2018 my car’s expenses only cost around RM900 compared to previous two years. Here, instead of forking my income to pay for a car loan monthly, I was able to save more money for my other expenses and investment.

Meanwhile in 2019, my car expenses increased again to more than RM2,000 with majority of it for car maintenance as my absorber and other parts needed replacement.

In the last year, I spent around RM1,500 with most of it for my engine oil maintenance and replacing the tyres.

Most of my car expenses has been for car maintenance and replacing several parts, which is understandable as it is a second-hand car. But, I managed to save a good amount of money with total of all the expenses amount to RM30,000 and average of RM2,000 per year.

If I had chosen to buy a brand new car, let say a Honda City new edition, it would be costing me around RM700-RM800 a month and around RM9,000 a year. When you add maintenance expenses into that, it will definitely cost more than what I paid for in my 5 years.

In short, buying a 2nd hand car doesn’t cost too much in maintenance provided you didn’t buy a lemon.

Q4. How Do You Approach Your Personal Finances?

I plan my finances by following these following 10 golden rules:

1. Set my personal finances goals

2. Review personal finances monthly

3. Say no to (bad) debt

4. Fund my emergency savings

5. Pay myself first

6. Invest intelligently

7. Insure against risk

8. Get the right property

9. Live life with love

10. Reward myself occasionally

Q5. How About Your Investing Approach?

I look at many things from a value perspective ranging from buying something to investing. Investing is also one of my key priorities. Investing needs to be a well thought out process and planned in advance. I invest regularly in a mostly automated way to pay myself first. And then i regular rebalance and reoptimise to improve my portfolio performance.

I am also a strong believer of asset allocation as all weather portfolio strategy to optimise returns while reducing investment risk no matter what economic condition we are in. Proper investment asset allocation helps reduce volatility by 90% while accounting for 40% of investment returns. Asset allocation is an ongoing process to set how your investment goes into various asset classes.

Any Final Tips?

“Simplicity is life’s greatest sophistication” ~ (adapted from Leonardo DaVinci).

Your financial plan doesn’t have to be complicated. In fact having a simple plan will likely work out even better! It’s not easy though as it require focus, discipline and perseverance.

I believe that each and everyone can not only survive but thrive!

Follow @StevYong: Facebook, Instagram, Twitter, Linkedin, TikTok.

6 Affordable Date Ideas While Avoiding Crowds

Looking for some affordable date ideas with your partner while avoiding crowds? Here are some ideas for you to try out.

Whether you are a couple who are courting, newly married, or even married with kids, dating is a way to strengthen the bond between you and your partner.

However, dating has several challenges. Firstly, it can cause a serious dip in your pocket especially when it involves frequent indulgences like fine-dining meals. Secondly, with the on-going pandemic, there are SOP restrictions of varying degrees that put a damper on your plans.

Here we list some affordable date ideas that you can do with your partner without causing some serious dip in your bank.

Date Idea #1. Virtual Dinner Dates

Hey, a video call is not just for the work-related meeting only! You can still communicate with your loved ones using video calls. Why not set up a virtual dinner date with your other half? All you need is a good internet connection, a digital device with a camera, and food.

A video call can be a great way for an alternative to connect and catch up with each other. You can opt to cook or order a lovely dinner.

This affordable date idea is great for couples who are separated due to the Movement Control Oder (MCO), or need to stay apart for other reasons. You can chat and chill with your partner while remained socially-distanced.

Date Idea #2. Cook a Meal Together

If both of you enjoy experimenting with recipes, take some time to create a meal or prepare a special dessert together. Try some new and exciting recipes that require two people to prepare. Tasty recipes are abundant on the internet!

Create a romantic atmosphere with candlelight, flowers, etc – without having to wait to be served and without the additional expensive price tag.

Maintaining social distance? Switch from in-person to a video call. Set up a webcam and a computer and share recipes with each other. You can even have a virtual cooking contest since you are in separate kitchens.

Date Idea #3. Go for a Run Together

What better way to bond with your partner than to exercise together? Grab a pair of running shoes and head out for a run or outdoor workout with them. You might think that is not the best idea for a date (you know, the sweat and all) but if you’re both looking to get fit and staying healthy, this can be a great start!

Exercising with other people can increase motivation and lead you to be more encouraged to workout. Bonus: you don’t need to spend money as exercising is free and you can develop better stamina and a healthy body.

Maintaining social distance? Go for a run at the same time but on your own. Stay in touch and share your experience with your partner by sending pictures of the things you see on your run. You can also start and end your run with a video call to discuss your expectations, feelings, and experience.

Do take note of the latest SOP allowed in your area regarding exercise if you decide to pursue this affordable date idea.

Date Idea #4. Dining with Discounts

During MCO, many restaurants and cafés run various discounts and promotions to attract more customers. This can be a good advantage for you to save money while dining out together or when ordering food in.

Do some research beforehand to find out what is the current promotions and how you can make use of them. Browse the restaurants’ official website and social media accounts for their latest update on promotions. Discounts are sometimes available with their partners such as with certain credit cards, e-wallets, and also apps like Fave (Google Play, Apple Store) – previously known as Groupon.

Maintaining social distance? Order your meals to be sent to your respective homes and set up your webcam so you can still enjoy a virtual date together.

Date Idea #5. Game Night

Playing board games and tabletop games are a great way to sharpen your mind while bonding together. While these games are certainly fun, you can also learn new skills with educational ones such as Scrabble and Monopoly.

Video games, computer games, and console games often make for good date nights too. Taking turns (when one person “dies”, the other gets to play), or even try splitting.

Solving jigsaw puzzles is also an affordable idea as many can be found at a reasonable price. The best thing about doing a puzzle together is that it’s a collaborative activity. There is nothing like searching for one particular piece and discovering it. This adds some sense of accomplishment that can be shared between both of you. You even can glue the puzzle together and hang it on the wall as a picture! This has a little bit of an extra cost associated with it, but it’s probably more meaningful.

Maintaining social distance? The Internet is a treasure trove of games you can both play together virtually.

Date Idea #6. Indoor Cinema

Do you have any TV shows or movies that both of you want to watch but haven’t had the time for? Make a movie date at home for some binge-watching marathon session.

Most people nowadays have a subscription to a streaming service that provided ample choices for you to choose. If you are getting bored with movies in streaming service, YouTube is another alternative as they have so many series and documentaries that sometimes surpassed the production of a big-budget movie. Complete that watching experience with popcorns and drinks, just like in the cinema.

Maintaining social distance? Choose a movie to watch in your respective locations. You could set up a webcam to see each other while watching the movie (awww!). Alternatively, you can start and end with a video call, and maybe text message in between if you are the chatty kind.

Conclusion

Going on a date is one of the best ways to keep the flame of love alight and burning. Even with budget restriction and MCO, you can make the best of your dates with affordable alternatives that won’t cost your wallet too broke. If it helps, you can also allocate some money in your monthly budget for dates. This way, you can monitor your expenses and ensuring that it doesn’t cost a fortune. Dating doesn’t have to be expensive when you know how to budget around it.

What are your ideas for affordable but romantic dates?

Pembedahan Bariatrik: Untuk Sihat atau Cantik?

Pembedahan bariatrik mungkin kedengaran agak asing tetapi ia menjadi pilihan selebriti tempatan dan juga golongan berkemampuan sebagai salah satu kaedah untuk menurunkan berat badan dan mengurangkan risiko kesihatan akibat diabetes.

Sejak akhir-akhir ini, pembedahan bariatrik menjadi topik perbualan hangat dalam kalangan rakyat Malaysia terutamanya apabila dikatakan salah seorang menteri menjalani pembedahan tersebut. Tidak kurang juga beberapa selebriti tempatan memilih pembedahan tersebut sebagai kaedah untuk membantu mereka mengurangkan berat badan obes dan menjaga kesihatan.

Namun, masih ramai yang kurang pasti apakah sebenarnya pembedahan tersebut dan berapakah kos yang diperlukan untuk menjalaninya.

Mengapa pembedahan bariatrik?

Obesiti merupakan salah satu masalah kesihatan yang sering dihadapi oleh masyarakat kini. Menurut statisik daripada Tinjauan Kebangsaan Kesihatan dan Morbiditi 2019, sebanyak 50.1% dalam kalangan orang dewasa mempunyai masalah berat badan berlebihan atau obes.

Statistik tersebut menunjukkan bahawa tahap obesiti masyarakat negara ini berada pada tahap yang membimbangkan.

Antara kaedah yang sering dicadangkan oleh pakar kesihatan untuk menurunkan berat badan adalah dengan bersenam, mengamalkan pemakanan yang sihat, pengambilan suplemen terkawal. Namun begitu, pembedahan bariatrik adalah pilihan terakhir bagi mereka yang mahu menurunkan berat badan dengan serius.

Siapa yang boleh menjalani pembedahan bariatrik?

Menurut Pakar Perubatan dan Endokrinologi, Hospital Canselor Tuanku Mukhriz (HUKM), Profesor Madya Dr Norlaila Mustafa, seseorang itu layak untuk menjalani pembedahan bariatrik jika Indeks Jisim Tubuh (BMI) mereka adalah 40 dan lebih. Mereka yang mempunyai satu atau lebih komorbiditi berkaitan obesiti dengan BMI 35 atau lebih juga layak menjalani prosedur ini.

“Pesakit yang menjalani pembedahan bariatrik didapati hidup lebih lama daripada orang dewasa yang mengalami obesiti teruk, kurang mendapat serangan jantung dan strok, risiko lebih rendah mendapat kanser tertentu dan kurang menghidap diabetes jenis 2, hipertensi, apnea tidur dan penyakit jantung,” – Pakar Perubatan dan Endokrinologi, Hospital Canselor Tuanku Mukhriz (HUKM), Profesor Madya Dr Norlaila Mustafa

Kadar keberkesanan selepas pembedahan ini banyak bergantung kepada disiplin pesakit untuk mengekalkan gaya hidup sihat.

Menurut Pakar Perunding Pembedahan dan Bariatrik, Dr Mustafa Mohammed Taher, pesakit mampu menurunkan kira-kira satu pertiga daripada berat badan mereka pada tahun pertama selepas pembedahan dan mengekalkan berat badan itu dalam jangka masa panjang.

Sebelum pesakit membuat keputusan untuk menjalani pembedahan ini, mereka perlu memastikan bahawa syarat kesihatan berikut dimiliki oleh mereka. Antaranya adalah:

• Mempunyai BMI 40 atau lebih.

• Mempunyai BMI antara 35 hingga 39.9 bersama risiko kesihatan seperti diabetes jenis 2, tekanan darah tinggi, penyakit jantung dan apnea tidur.

• Kadangkala mungkin juga dijalankan bagi BMI 30 jika berisiko tinggi.

• Pembedahan bukan bertujuan kecantikan atau kosmetik seperti pembedahan sedut lemak sebaliknya untuk mengurangkan risiko kesihatan.

• Ia hanya boleh dilakukan selepas usaha melalui perubahan gaya hidup gagal.

Jenis-jenis pembedahan Bariatrik

Menurut Bahagian Obesiti dan Pembedahan Bariatrik, Hospital Gleanegles Pulau Pinang, pembedahan bariatrik terbahagi kepada tiga jenis:

1. Gastrektomi Lengan Laparoskopik

Prosedur pembedahan ini melibatkan 70% daripada bahagian abdomen atau perut dibuang dan meninggalkan perut yang kelihatan seperti tiub dan berbentuk buah pisang. Dengan kaedah mengecilkan saiz perut anda, ia boleh mengurangkan jumlah makanan yang diambil pesakit. Secara tidak langsung menyebabkan perubahan hormon tubuh yang membantu untuk mengurangkan berat badan.

2. Pintasan Gastrik Roux-en-Y Laparoskopik

Melalui prosedur ini, kantung perut yang bersaiz kecil dihasilkan dan sebahagian daripada usus kecil akan dipintas. Bahagian perut yang lain masih berfungsi dan bersambung dengan usus. Pesakit akan mengalami perubahan hormon yang mampu mengawal paras gula di dalam darah bagi pesakit diabetes selain menambah baik tahap metabolisma.

3. Prosedur belon intragastrik

Prosedur ini melibatkan memasukkan belon intragastrik iaitu alat untuk mengurangkan berat badan yang boleh mengembung yang diletakkan di dalam perut pesakit buat sementara waktu. Alat ini dimasukkan melalui prosedur endoskopi (mulut). Ia akan mengurangkan kapasiti perut untuk menampung makanan dalam kuantiti yang banyak dan memberikan tempoh rasa kenyang yang lebih lama.

Senarai hospital dan klinik yang menawarkan pembedahan bariatrik

Terdapat beberapa hospital dan klinik di negara ini yang menawarkan pembedahan bariatrik. Antaranya:

• Hospital Canselor Tuanku Mukhriz (HUKM), Kuala Lumpur

• Hospital Gleanegles, Pulau Pinang

• Hospital KPJ Ampang Puteri, Ampang, Selangor

• Klinik Andrea Bariatric Surgery, Petaling Jaya

• Hospital Gleanegles Medini, Johor Bahru

• Sunway Medical Centre, Petaling Jaya

• Prince Court Medical Centre, Kuala Lumpur

• iHeal Medical Centre, Kuala Lumpur

Kos pembedahan

Kos pembedahan adalah bergantung kepada hospital atau klinik yang anda pilih untuk menjalaninya. Ia dianggarkan bermula sekitar RM25,000 hingga RM35,000. Berikut merupakan perbandingan jenis pembedahan dan kos yang terlibat:

Sumber: Laman Web Bariatrik Malaysia

Risiko

Di sini kita akan melihat risiko apabila anda melakukan pembedahan Gastrektomi Lengan Laparoskopik. Risiko untuk menghadapi komplikasi yang serius selepas pembedahan adalah sekitar 5%-10% sahaja. Peratusan ini adalah rendah jika dibandingkan dengan pembedahan perubatan yang lain. Pembedahan ini bersifat terkawal namun terdapat beberapa risiko yang boleh terjadi selepas prosedur antaranya:

• Bahagian perut yang dijahit boleh bocor dan boleh mengakibatkan jangkitan kuman

• Melalui suntikan anestesia, pesakit berisiko untuk mendapat darah beku atau komplikasi yang lain

• Perut ‘baru’ anda boleh meregang

• Risiko mendapat batu karang

Kesimpulan

Pembedahan bariatrik tidak seharusnya dilihat sebagai jalan pintas untuk mengurangkan berat badan setelah inisiatif lain tidak berhasil. Namun, ia adalah inisiatif untuk pesakit menjaga kesihatan diri dan perlu diikuti dengan pemakanan sihat dan aktiviti fizikal untuk mengekalkan berat badan yang sihat. Pesakit perlu berbincang dengan doktor tentang prosedur pembedahan dan memahami setiap risiko yang mungkin berlaku selepas ia selesai.

Apakah pendapat anda tentang pembedahan ini? Adakah ia perlu untuk mengatasi masalah obesiti?