i believe in early risk-evaluated speculative planning. thats what almost ALL youngsters lack, both in training and encouragement - they fear what they don learn, they don learn what they fear
speculative wisdom would get you places, open new windows of oppt that overzealous savings will only incrementally take you away from.
Don't "consult" an insurance agent you might retire comfortably. If you use them forget about retiring . At the best they will preserve your status quo and at the worst your retirement will go up in smoke. CPF record cannot lie, right? Do you know how many of CPF members made above 2.5% return between 2000 and 2007? only 17%. How many lost some of their capital? more than 50%.. This is the track record of insurance agents and other advisers. Let me give you some reasons why the insurance can't help you in their retirement. 1.They are NOT qualified to advise on this 2.they have NO investment knowledge 3.They are dishonest 4. they suffer from conflict of interest 5.they are product sellers and pushers 6.they don't know portfolio construction 7.THEY NEVER HAVE YOUR INTEREST AT HEART. 8.they plan their own retirement Are these reasons good enough to convince you that insurance agents CAN'T HELP YOU in your retirement.
Jacko saidL Have you ever come across such thing as FINANCIAL HEALTH CHECK? Fact that one major Insurance company here was promoting the theme and now with world financial meltdown, the so called Financial Health Check advisors are now missing in action.....bottomline to sell their own financial products that may be contaminated by now!......very funny indeed!
So you see , even you are required to conduct health check agents are circumventing it to make fast sale. This is no good. MAS must police this by auditing the agents' cases. MAS plays a crucial role in ensuring a disciplined market, fair deal to consumers. Health check is a precautionary measure to ensure that the RIGHT product is prescribed. MAS must enforce all the laws stringently to level the playing field.
personally i dont advocate TOO MUCH savings.
ReplyDeletei believe in early risk-evaluated speculative planning. thats what almost ALL youngsters lack, both in training and encouragement - they fear what they don learn, they don learn what they fear
speculative wisdom would get you places, open new windows of oppt that overzealous savings will only incrementally take you away from.
think about it
Don't "consult" an insurance agent you might retire comfortably. If you use them forget about retiring . At the best they will preserve your status quo and at the worst your retirement will go up in smoke.
ReplyDeleteCPF record cannot lie, right? Do you know how many of CPF members made above 2.5% return between 2000 and 2007? only 17%.
How many lost some of their capital? more than 50%..
This is the track record of insurance agents and other advisers.
Let me give you some reasons why the insurance can't help you in their retirement.
1.They are NOT qualified to advise on this
2.they have NO investment knowledge
3.They are dishonest
4. they suffer from conflict of interest
5.they are product sellers and pushers
6.they don't know portfolio construction
7.THEY NEVER HAVE YOUR INTEREST AT HEART.
8.they plan their own retirement
Are these reasons good enough to convince you that insurance agents CAN'T HELP YOU in your retirement.
A consumer
Jacko saidL
ReplyDeleteHave you ever come across such thing as FINANCIAL HEALTH CHECK?
Fact that one major Insurance company here was promoting the theme and now with world financial meltdown, the so called Financial Health Check advisors are now missing in action.....bottomline to sell their own financial products that may be contaminated by now!......very funny indeed!
Perhaps they themselves need a Health Check now!
So you see , even you are required to conduct health check agents are circumventing it to make fast sale.
ReplyDeleteThis is no good. MAS must police this by auditing the agents' cases.
MAS plays a crucial role in ensuring a disciplined market, fair deal to consumers.
Health check is a precautionary measure to ensure that the RIGHT product is prescribed. MAS must enforce all the laws stringently to level the playing field.