*Official* MasterLeong Thread

[mazatsushi]

Is it me? Or are the first group of retail investors starting to pile into the market following the recent bull run?

 

[lewissac]

will you be making a loss if you are to surrender your endowment plan now?

It would be a loss. So I need to weigh in and consider likelihood and severity of every aspect.

Things like debt, ease of cashflow, living expenditures, etc..

While it's true that I'll be making a loss, but I'll be debt free, increase in cashflow (no need to be so tight on budgetting due to debt/instalment payment), and I'll be able to invest even more next time than what I'm investing currently in Endowment plan.

But that's just me. I'm not recommending you to withdraw/give-up your endowment plan. No way you should. I'm just conducting risk assessment and determine what's my best solution towards my problem.

 

[MasterLeong]

Precisely, thats why I wanna surrender my endowment plan early. lost about 2k++

this year I surrendered 2 life policies and never looked back

1 held for 10 years, broke even
another held for 4 years, loss money

the loss of money I just treat it as I was paying $$$ for insurance coverage lor...

I really hate these policies as they make so much commission from us

 

[MasterLeong]

Is it me? Or are the first group of retail investors starting to pile into the market following the recent bull run?

starting to feel a bit bull since the opec deal and oil rally

if STI can cross 3000, then I think it may signal a real bull market

 

[MasterLeong]

It would be a loss. So I need to weigh in and consider likelihood and severity of every aspect.

Things like debt, ease of cashflow, living expenditures, etc..

While it's true that I'll be making a loss, but I'll be debt free, increase in cashflow (no need to be so tight on budgetting due to debt/instalment payment), and I'll be able to invest even more next time than what I'm investing currently in Endowment plan.

But that's just me. I'm not recommending you to withdraw/give-up your endowment plan. No way you should. I'm just conducting risk assessment and determine what's my best solution towards my problem.

how old are u and how come u got debt?

 

[mazatsushi]

It would be a loss. So I need to weigh in and consider likelihood and severity of every aspect.

Things like debt, ease of cashflow, living expenditures, etc..

While it's true that I'll be making a loss, but I'll be debt free, increase in cashflow (no need to be so tight on budgetting due to debt/instalment payment), and I'll be able to invest even more next time than what I'm investing currently in Endowment plan.

But that's just me. I'm not recommending you to withdraw/give-up your endowment plan. No way you should. I'm just conducting risk assessment and determine what's my best solution towards my problem.

Like what another bro has advised, clear the debt first then take other action.

The interest not paid servicing the debt is essentially a guaranteed return. E.g. 18% per annum interest rate means 18% returns on your money if all of it is paid off

 

[akwl88]

this year I surrendered 2 life policies and never looked back

1 held for 10 years, broke even
another held for 4 years, loss money

the loss of money I just treat it as I was paying $$$ for insurance coverage lor...

I really hate these policies as they make so much commission from us

Agents are out to suck your money

See so many of them haolian their audi and AP watches on instagram

Very turn off

 

[Pesantkie]

It would be a loss. So I need to weigh in and consider likelihood and severity of every aspect.

Things like debt, ease of cashflow, living expenditures, etc..

While it's true that I'll be making a loss, but I'll be debt free, increase in cashflow (no need to be so tight on budgetting due to debt/instalment payment), and I'll be able to invest even more next time than what I'm investing currently in Endowment plan.

But that's just me. I'm not recommending you to withdraw/give-up your endowment plan. No way you should. I'm just conducting risk assessment and determine what's my best solution towards my problem.

yeah after reading your reply, I still think that withdrawing is the best way for you lehhh cause no need to huan lo about debt.

I dont think my parents have signed me up for endowment plan, I think only educational or healthcare plan nia. I remember SSI was against endowment plan de.

 

[lewissac]

this year I surrendered 2 life policies and never looked back

1 held for 10 years, broke even
another held for 4 years, loss money

the loss of money I just treat it as I was paying $$$ for insurance coverage lor...

I really hate these policies as they make so much commission from us

Truly agree. I'm always against whole life and a supporter for term-life policy.

And the only thing I'm regretting is buying the endowment plan. The power of peers influence.

Anyway, I've decided to surrender my endowment. After clearing off debt, I can use the remaining balance (about 3k++) to hoot another share for dividends.

 

[akwl88]

A penny saved is a penny earned

 

[akwl88]

Truly agree. I'm always against whole life and a supporter for term-life policy.

And the only thing I'm regretting is buying the endowment plan. The power of peers influence.

Anyway, I've decided to surrender my endowment. After clearing off debt, I can use the remaining balance (about 3k++) to hoot another share for dividends.

Gxgx

Save your money

 

[Asphodeli]

Finally managed to restructure my insurance portfolio properly...cut down to minimum on my "useless plans"and took up term plans.

Sent from Sony E6533 using GAGT

 

[mazatsushi]

Agents are out to suck your money

See so many of them haolian their audi and AP watches on instagram

Very turn off

Personally am overjoyed that agents keep buying those types of status symbols.

Because it means more earnings growth for the companies in my portfolio LOL

 

[lewissac]

how old are u and how come u got debt?

33 yr-old liao.

Personal loan + abit card debt like 1k. Take up loan due to demise of my late dad, and because hv to bear up the mthly payment for my family house and car which was already 3-4 mths lapse. Now the house loan is settled and I still have abit left like 3-4K from the loan to repay.

 

[MasterLeong]

33 yr-old liao.

Personal loan + abit card debt like 1k. Take up loan due to demise of my late dad, and because hv to bear up the mthly payment for my family house and car which was already 3-4 mths lapse. Now the house loan is settled and I still have abit left like 3-4K from the loan to repay.

I would strongly suggest that you save up and clear all debt first before investing anymore into stocks

 

[MasterLeong]

Finally managed to restructure my insurance portfolio properly...cut down to minimum on my "useless plans"and took up term plans.

Sent from Sony E6533 using GAGT

Nice! good to restructure

I was previously burdened by the heavy monthly payments

after cutting my life policies I now left with term only, 1 year pay one time sua

 

[akwl88]

Nice! good to restructure

I was previously burdened by the heavy monthly payments

after cutting my life policies I now left with term only, 1 year pay one time sua

Low premiums for high coverage

Value for money!

 

[MasterLeong]

seems like another green day in a making



http://www.sembcorp.com/en/investor-relations/results-and-reports/

now reviewing my position in SCI

may wanna throw half to take profits of over 10% first

 

[MasterLeong]

if want insurance, just get a term... if anything bad happens u get a big payout 1 shot

most value for money... lowest commission

I use NTUC because I know 100% will not default one


the same cannot be said for big ang mor companies
during GFC big names like AIA almost when down and payments were delayed

 

[MasterLeong]

DBS looking to hit $18 today, OMG~~~~~~~ $$$$$$$$$$