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Old 08-02-2019, 08:49 PM   #2957
xiaonajia
Senior Member
 
Join Date: Mar 2018
Posts: 628
One good place to look at these number is from your yearly CPF statement.
Another good example is from your insurance saving plan vs deposit in bank account or CPF.
Insurance company do not pay "compounding". You may get bonus every year, but you do not get interest for your bonus earned. AND you are not paid until you complete the whole plan.

If you put the same amount in bank/investment, you either get interest for the interest/bonus earn or you can withdrawn it a spend it earlier. At the end of fix time frame (insure period). You will find you get much lesser then expected from a insurance plan.
I see, thanks for sharing... Currently having my money locked in FD as I'm too lazy/incompetent in financial knowledge. Hoping to grow it by reading this forum and many other places like moneysmart
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