Dear Mr. Tan,
I learnt from your website from reading mypaper. I'm a nerd when it comes to financial management. Apart from savings account, I know nothing much about investments. I'm not a high risk taker, but would like to know how to go about low-risk investments.
Are there any articles, websites or books to recommend for beginners? I heard that T-bill is a low-risk investment but I've no idea how to go about doing that.
Recently, I've also heard that an insurer is offering a sort of Fixed Deposit, which offers higher interest than banks. Is it trust worthy?
I'm in my mid-30s and wish to invest $50,000 for my retirement or my son's education fund. What is your advice?
REPLY
I suggest that you read this FAQ. It should contain the answers that you need.
http://www.tankinlian.com/faq/savings.html
Visit www.fpas.org.sg and learn about financial planning. You may want to engage a planner from this place.
ReplyDeleteLearn what you deserve and what you should get from your adviser and not be sold products that don't meet your needs ADEQUATELY, EFFICIENTLY & EFFECTIVELY.
Your protection against an errant adviser from this body is that there is a complain mechanism which you can use to lodge against him or her for misconduct . If found guilty the planner can be struck off the register and barred.
If you ask me, you should invest your $50k on your retirement. Education is important but is subordinate to retirement. You can set a separate plan for your son's education funding.
ReplyDeleteTo address your risk averseness you should seek a financial counselor, an honest and competent adviser who can help you with the issue. Don't let your situation hinder you from opportunities out there.
Let me tell you , THERE IS NO SUCH AS RISK FREE and not even SGS which is still subject to inflationary risk.What you think is safe is even riskier.Example ; is fixed deposit safe? Is endowment safe? Today the reported inflation is 6.5%. Is it true? It may be higher.
I feel Low risk investment means investing for long term. To my knowledge certain long term investments are fixed deposits, mutual funds and also stock markets.
ReplyDelete