Financial note

Why financial advisers love to sell VA(Variable annuities) to their clinets? Primirarily financial advisers can earn fat commissions from their clients and it is easy to sell. Most consumers fall for the sales pitch of getting tax deferred savings by investing in mutual funds through a VA as well as the promise that they won't ever get less out of the VA than they put in.

Advisers doesn't tell you: you will pay an extra fee each year that hoovers around 1.3% to give you that asset protection, which kicks in only if you die. If you take all your money out while you are alive, there's no guarantee you'll get at least your original deposit back.

If you withdraw it, you are going to owe income tax, not capital gains ta, on your earnings.

To learn more abour Va, check out the web site suzeorman.com

My kids graduated

In the past two weeks, my two sons have graduated from university and high school. My husband and I watched them march across the stage along with the music to receive their diplomas. We felt so proud and happy at that moment.

Let’s turn the clock to the time they were born; they were both under 7 pounds and three weeks before their due dates. Stephen was born without hair, and Alex was born with a full head of hair. Stephen was a very mature child, and Alex was quiet and thoughtful. Alex has always adored his brother.

There are all kinds of schools in this world, but there is no school that can teach you to be a parent. I guess we have been lucky. Our two boys have always behaved well and have never given us too much trouble. Thankfully, in my twenty-two years as a parent I have not received a late night phone call from the police. They are both diligent and hard working students. They know we have been tried our best to be good parents; we have shared almost every important moment in their life - birthdays, ball games, swim meets, parties, school activities, etc. I know they appreciate us being there with them. When they were happy, we shared their joy; when they were sad, we struggled with them; when they were sick, we just lost sleep. When they were young, we instructed them to read certain good books. Today, they advise us what to read. Our role has gradually changed, but I’ll tell you, I have learned so much while bringing our boys up.

Today, they are not the two small children I remember; they are both graduated and moving on to different phases of their lives. Stephen is beginning his next journey; he’ll step into the world and learn how to be an independent young professional. Alex will continue his education to become a future scientist. In a world where not many children move on to college and many do not even complete high school, I think that we have earned an A plus as parents. Good luck, boys! Set your goals high, you can become whatever you want to be.

Taiwan’s First Family Crisis

Chao Chien-ming, the son-in-law of Taiwan’s president, was detained on May 23, 2006 for suspicion of insider trading. This insider trading scandal is not limited to only Chao; his parents, brother, and sister-in-law are also involved.

The whole scandal is a product of greed. Chao is from a middle income family; his parents are now retired from their positions as elementary school principal and teacher. Chao is a medical doctor and is employed in the best hospital in Taiwan. Chao married Hsing-yu, the daughter of Taiwan’s president, about six years ago. After the marriage, Chao has enjoyed the fame and privileges that coincide with high society. He loves to bask in the spotlight of the media, eager to show his wealth and power. Unfortunately, he has enjoyed far too much privilege; he has forgotten who he is. Chao and his father have leveraged their newly gained fame and connections from the marriage to dramatically increase their wealth. His father has acquired quite a few advisory positions and receives a large stipend, the most lucrative being from the government and various corporations. Is he qualified for these positions? Such questions do not even matter. He is now part of the first family. The Chao family is not only guilty of insider trading; they also involved in government land development transactions. Their hands are trying to get into every place where they can gain financial advantages.

Greed and power can corrupt good people. This is a fine example. Chao had a good family, education, and career. His marriage has led him down the road of luxurious indulgence. He was given a taste of money and power, and he and his family developed an insatiable taste for both. The more money he chased, the more crime he performed. There was no turning back.

My uncle

My uncle just passed away in Shanghai, China. I had been mad at him for awhile, but after I heard his death, I felt so bad. What would my late father say to me? My uncle was spoiled by his parents. I always felt so distant with him, we were never close. My father had been separated from him when they were young. My father went to live with his grandparents leaving my uncle as the only boy in their household. He has two younger sisters and my uncle was like a tyrant to them. He may have had some very good values, but we never had a chance to find out what they were. After my dad fled to Taiwan with Chiang kai-Shek’s troops in 1949, my father arranged for my uncle to settle in Taiwan as well; my father found him a clerical job in the ROC Air Force. My uncle visited us almost every weekend. He did not really do anything at our house; he sat in front of TV and ordered my sisters and me to get good food for him. I didn't know why. Every time he showed up in our house, we just tried to escape. My father did not like him, but he felt that his brother was his responsibility. My father took care of him and gave him financial support through his life. Uncle, I am glad you have returned to God’s hands. You suffered so much from your illness; you never really had hardship in your life, only loneliness. Now you don't have to suffer anymore. I wish you peace in heaven. God bless you.