Master’s Degree in Business Administration (Majoring in Finance with Distinction) from the University of Hull,
UK, Bachelor’s Degree in Economics (Honours, majoring in Accounting)from Monash University in Melbourne, Australia, RFP, CFP CERT TM
Carol Yip is the Founder and CEO of Abacus for Money and The Abacus Academy that operates under the brand name ABACUS FOR MONEY. Abacus for Money’s business mission is to help people understand their psychological behaviour and habits towards their money and empowers them to be smart money-users.
She is also the CEO of Aged Care Group (ACG) Sdn Bhd which is in the business of elevating and providing aged care services in Malaysia. ACG operates in an ecosystem that provides integrated care services and products. ACG’s vision is to innovate and transform the perception of ageing with the philosophy to provide continuum care as a choice for enriched living.
Carol Yip has been in the financial planning industry for more than a decade. She is one of Malaysia’s leading advocate for education on personal finance and sustainable retirement for Malaysians. She is also a columnist, speaker, personal financial advisor and coach. She writes and contributes regularly for The Star Newspaper’s Bizweek, Smart Investor and Imagine Australia magazine.
Carol has a mission to help people unleash their life from emotional and financial distress in order to live a meaningful and purposeful life. Currently, she is pursuing her PhD programme with Monash University School of Medicine and Health Science, Global Public Health and her thesis title is ‘Provision of Long Term Care and Payment Option for Elderly People Living in Kuala Lumpur and Selangor, Malaysia’.
Her advisory projects consist of personal financial education projects for government agencies, banks and education institutions. She designed a Certificate of Personal Finance programme, certified by the City of Sunderland College, United Kingdom. She has authored four books: ‘Credit Card Syndrome’, ‘Smart Money-User’, ‘Money Rules’ and ‘Money Work Life’, and has been a keynote speaker for conferences in Asia Pacific, Australia and United States. Both her ‘Credit Card Syndrome’ and ‘Money Work Life’ books are available in Thai language and sold in Bangkok.
Carol organised the Malaysia’s Retirement Transformation Conference in 2010 and the Private Pension and Healthcare Conference in 2011. She was appointed in 2012 by PEMANDU, as facilitator for a 5-week PEMANDU Senior Living lab discussion with regulators, business owners, non-profit organisations and individuals about the future plans for Malaysia’s aged care and senior living of Malaysia’s ageing population.
In early 2013, she helped an Australian company to set up an office in Kuala Lumpur to provide home care services for elderly clients. She has the hands-on experience in managing the daily operations of the home care services to clients, including managing a team of nurses and carers. She has a deep understanding of the challenges involving in human resource recruitment and training required for nurses and carers to provide care to clients.
Her recent projects include helping property developers to conceptualise the Build, Operate and Transfer (BOT) of integrated residential care centres (nursing homes) and active living residential units for active retirees within townships, which included financial feasibility studies of nursing home operations. Carol is able to help bridge the understanding of senior living business in Malaysia, the challenges and potential opportunities, and the need to transform the current care centres and nursing homes to a higher quality of care and living standards for the ageing population including different target market segment, financial affordability and ability to pay for the care services and aged care residential units/beds.
Carol has been the President of Monash University Alumni Malaysia from 2008 to 2010