Smart Investor Malaysia

Where Do You See Yourself In The Next 5 Years?


If anything, the Covid-19 pandemic has hit home the importance of having a proper financial plan in place.


If you are new to the idea of financial planning, FA Advisory’s Cheah Yee Nin recommends asking yourself questions like :

  • What do you want to do with your money?
  • Where do you see yourself in the next five to 10 years?
  • More importantly, do you want to start a family, set up your own business, or retire early?


where do you see yourselfWhile the diagnosis stage is basic, it is also the most crucial step, as this will help you identify your challenges and concerns while quantifying your own unique financial goals, she explains, adding that clarity in your financial goals is essential as it determines how much you need, and which solutions to use to patch the gap.



where do you see yourself

“The real financial planning only comes after you have a clear picture of what you want to achieve. You need to analyse your current financial position and spending habits, asking questions like ‘do you have a healthy cash flow?’, ‘what is your net worth?’ and ‘how far are you from your financial goals?’

From here, you will be able to identify how much resources you will need to set aside to achieve these goals,” she explains.


The last stage is the deployment stage which consists of the action plan.where do you see yourself

“You need to strategise how to patch the gap, or how to overcome the challenges. It can be as simple as cutting expenses, save more, or earn more. In this case, you may also need to look at some available solutions like investment plans, insurance plans, and debt restructuring along the way.”

Knowing and doing are two different things.

Most of the time, people do not stick to their goals or follow through with their plan, and this can be attributed to the lack of know-how, or simply because they do not have time.

“I would encourage people to embark on a journey with a financial planner if they are serious about improving their finances in the long run,” she says.

Cheah Yee Nin, CFP
Licensed Financial Planner of FA Advisory Sdn Bhd
2nd-Runner up in the Malaysia Financial Planner of the Year Award 2020 (MFPYA)
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