Investment Advice for Old Newbie

ehonda

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hello all, I am in my mid-40s and finally realized that I need to plan for retirement :s22: in maybe another... 15 years

from my tiny research, I am looking at the below options for long term and probably very high risks investments, do provide your kind comments or advice:

- $100K investing in Maybank products which the RM briefly told me it's around 7% to 8% returns
- $50K in robo advisors (no know which one, StashAway? SYFE? FSMOne?) with monthly amounts, as a start to test out before loading more funds

or any suggestions?

thanks in advance
 

boredboiboi

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hello all, I am in my mid-40s and finally realized that I need to plan for retirement :s22: in maybe another... 15 years

from my tiny research, I am looking at the below options for long term and probably very high risks investments, do provide your kind comments or advice:

- $100K investing in Maybank products which the RM briefly told me it's around 7% to 8% returns
- $50K in robo advisors (no know which one, StashAway? SYFE? FSMOne?) with monthly amounts, as a start to test out before loading more funds

or any suggestions?

thanks in advance

Maybe you can name out what is the maybank product for better advice?
 

ehonda

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Maybe you can name out what is the maybank product for better advice?

if I am not wrong, these are the ones

  • JP Morgan Global Income
  • BlackRock Dynamic High Income
  • Fidelity Funds - Global Multi Asset Income Fund
 

Prof. Utonium

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Would you really use the privilege or lounge?

Have one with the local bank but did not bother with their privilege. Neither did I use any of their investment products.

For those recommended by your RM, what is the TER?
 

2474265

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As someone else mentioned earlier you should really check the TER (total expense ratio) of the products Maybank is offering.

Syfe announced a financial advisory offering today (some of it seems to be paid offering), maybe they can help you.
 

BBCWatcher

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  • JP Morgan Global Income
This is a global bond fund, and it's about 2/3rds junk bonds. There's an initial sales charge of up to 5%, and the fund manager's fee alone is 1.25% per year.

  • BlackRock Dynamic High Income
I think this is called the "BGF Dynamic High Income Fund." It's an actively managed fund, and it's also global, albeit not so well diversified. It currently does a lot of covered call writing, holds a decent chunk of junk bonds, makes floating rate loans, a little emerging market debt.... Just a bunch of oddball (and rather risky) stuff. The initial sales charge is up to 5%, and the annual management fee alone is 1.5%.

  • Fidelity Funds - Global Multi Asset Income Fund
This is another mixed fund holding a lot of bonds (including junk and emerging market bonds) and some stocks, also international. The initial sales charge is up to 5.25%, and the annual management fee alone is 1.25%.

I think it's safe to say that the person who recommended these funds is highly likely to be maximizing his/her sales commissions. Your interests are secondary, if that.

All three of these funds are high cost. You can do better, much better.
 

eD1s0n

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This is a global bond fund, and it's about 2/3rds junk bonds. There's an initial sales charge of up to 5%, and the fund manager's fee alone is 1.25% per year.


I think this is called the "BGF Dynamic High Income Fund." It's an actively managed fund, and it's also global, albeit not so well diversified. It currently does a lot of covered call writing, holds a decent chunk of junk bonds, makes floating rate loans, a little emerging market debt.... Just a bunch of oddball (and rather risky) stuff. The initial sales charge is up to 5%, and the annual management fee alone is 1.5%.


This is another mixed fund holding a lot of bonds (including junk and emerging market bonds) and some stocks, also international. The initial sales charge is up to 5.25%, and the annual management fee alone is 1.25%.

I think it's safe to say that the person who recommended these funds is highly likely to be maximizing his/her sales commissions. Your interests are secondary, if that.

All three of these funds are high cost. You can do better, much better.

But to be fair I have never seen a bank that actually charges "up to 5%" for the initial sales charge
 

hwmook

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But to be fair I have never seen a bank that actually charges "up to 5%" for the initial sales charge

You have never? Go to maybank, they charge 5% sales charge. My mum was charged 3.5% at UOB. Dollardex, FSM, Philip's charge zero fees, I don't why people still go to bank to get chopped.
 

eD1s0n

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I personally have seen many being charge 3-5%.

You have never? Go to maybank, they charge 5% sales charge. My mum was charged 3.5% at UOB. Dollardex, FSM, Philip's charge zero fees, I don't why people still go to bank to get chopped.

wah then i count myself lucky as dbs just 0.82%.
3-5% is indeed ridiculous. dump the RM immediately.
 
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hwmook

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wah then i count myself lucky as dbs just 0.82%.
3-5% is indeed ridiculous. dump the RM immediately.

Try walking in to DBS instead of buying online, I don't think they will charge you 0.82%. Banks are known to charge close to the maximum sales charges for walk in customers.
 

BBCWatcher

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But to be fair I have never seen a bank that actually charges "up to 5%" for the initial sales charge
I take note of the other comments, but 0% is also "up to 5%." ("Up to 5%" only expresses a maximum, not a minimum.) I think you meant that you're personally not familiar with banks that charge 5%.

Leave that aside. Let's suppose ehonda is the lucky customer that doesn't pay a sales charge for these funds. (I doubt it, but let's suppose.) They're still high cost dog food; he should not buy these funds. He can do substantially better.
 

Maeda_Toshiie

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You have never? Go to maybank, they charge 5% sales charge. My mum was charged 3.5% at UOB. Dollardex, FSM, Philip's charge zero fees, I don't why people still go to bank to get chopped.

They don't know any better, so they get conned by bank employees and insurance salespersons.
 

Maeda_Toshiie

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If people can stop panic selling, a low cost Boglehead porfolio is already a perfectly viable investment strategy for retirement.


The problem is the panic selling part. And relatives. And friends. And the banks. And insurance agents. And the media.


Oh god, I just realized that everything around the world is working real hard to make retail investors lose money by making stupid decisions.


*Brain expands*
 
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Sadisticnoob

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If people can stop panic selling, a low cost Boglehead porfolio is already a perfectly viable investment strategy for retirement.


The problem is the panic selling part. And relatives. And friends. And the banks. And insurance agents. And the media.


Oh god, I just realized that everything around the world is working real hard to make retail investors lose money by making stupid decisions.


*Brain expands*

Unfortunately, the ETF market is not very developed in Singapore (maybe hong kong is better) other than the ES3, G3B , A35, there are very few large ETF for the common person. And there are pretty much concentrated in Singapore.

Investing in US market is pretty much a hazzle.

I can understand why the unit trust market is pretty big in Singapore.
 
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