Financial related question

[dango_daikazoku]

Hi bros, since this is the money mind forum I hope you guys might be the right person to ask about this cos I think you're all quite knowledgeable. Basically I got this proposal from TM which I need comments on. I just started having a steady income, though not much. Been saving most of it but its just rotting in the bank. Trying to find out what to do with the money and make it useful. I dont have much knowledge on financial planning and usually am quite skeptical to what agents and financial planners tell me. So hope you can help me look through this and give some comments from a neutral point of view.

I previously started a thread in edmw and somehow it got deleted. I think maybe they think maybe i'm an agent trying to sell this product or something lol. I'm not ok! Just need some advise

Thank you.

Summary of everything

This is 15 years, I got other proposals in 10, 20, 25 years also. See dropbox link for all pages.
https://www.dropbox.com/s/3bebp0nclt17l48/BIIllustration_TM nesteggGIO_15_multipage.tif

This is 15 years, I got other proposals in 5, 20 years also. See dropbox link for all pages.
https://www.dropbox.com/s/1zc5m2b6bqir7ji/BIIllustration_TMnestegg_15_multipage.tif

 

[dango_daikazoku]

one more thing, are such policies negotiable? i.e. the price of the premiums.

is it set by the compnany or can the agent adjust by themselves?

 

[Lewis.T]

There's a minimum premium for all such policies, dictated by the insurer. Just do your due diligence to see if what the agent presented is really the min, if that's what you're looking for.

If you're willing to, you can throw your money into investing over the long run, it should smooth out the ups and downs of the market. Nobody is going to guarantee you any returns from it, but it should come out on top of endowments in the long run.

If you don't know where to start consider POSB investsaver or Standard Chartered's investment platform.

 

[dango_daikazoku]

Thanks. Why do you say POSB investsaver or Standard Chartered's investment platform is the prefered ones? I heard of philip poems, kaynian, vickers, blackrock, IG, what do you think of these?

 

[archcherub]

http://forums.hardwarezone.com.sg/m...-good-agent-investment-insurance-2818607.html

sticky thread

 

[Lifeessentials]

Insurance pemiums are fixed by the insurance company.

Asking for comments here may just end up confusing you even more unless you have a clear idea of what your priorities, objectives and investment time horizon are. It would appear you have not decided because you have asked for quotation for different durations.

If you are looking for someone to do a comparison for you and tell you which is the best plan, there is no such thing. Everone's needs and preferences are different.

 

[Lewis.T]

Thanks. Why do you say POSB investsaver or Standard Chartered's investment platform is the prefered ones? I heard of philip poems, kaynian, vickers, blackrock, IG, what do you think of these?

Comparing Singapore Stock Brokerages - Lowest Fees, No Minimum Fees, Best Platform | Making Passive Income

But before anything invest in yourself first. Get adequate hospitalization and income protection from an insurer.

 

[dango_daikazoku]

http://forums.hardwarezone.com.sg/m...-good-agent-investment-insurance-2818607.html

sticky thread

thanks, just new in this sub forum

 

[dango_daikazoku]

Insurance pemiums are fixed by the insurance company.

Asking for comments here may just end up confusing you even more unless you have a clear idea of what your priorities, objectives and investment time horizon are. It would appear you have not decided because you have asked for quotation for different durations.

If you are looking for someone to do a comparison for you and tell you which is the best plan, there is no such thing. Everone's needs and preferences are different.

first part is quite true.

for now it think its growth of wealth.

 

[dango_daikazoku]

Comparing Singapore Stock Brokerages - Lowest Fees, No Minimum Fees, Best Platform | Making Passive Income

But before anything invest in yourself first. Get adequate hospitalization and income protection from an insurer.

Nice comparison.

Yeah, but just cant decide who to go to.

 

[wahkao3]

DIY investing is the best
invest in low risk, high return opportunities

agents and banks will only give you low risk,low return, OR high risk, high return because they pocket some of the returns, or throw the risk to you

 

[archcherub]

Nice comparison.

Yeah, but just cant decide who to go to.

for me i choose SCB to stock up on stocks monthly /quarterly for my savings.
coz my saving is small amount, so the amount of stocks i buy is not sufficient for the $25 minimum commission from other brokers.... so i use the SCB brokerage for cost savings.

if u do a lot of stocks monthly / quarterly, any of it is fine.. no big price difference.

 

[tiny]

dango_daikazoku, I received your PM and I have replied you with some advice.

 

[starbugs]

Read this advice by TKL:

Former Singaporean Presidential Candidate Blasts ILAS, Whole Life, and Other Ripoff Insurance Products | TheRapeOfHongKong.com