Welcome Guest ( Log In | Register )

Bump Topic Add Reply RSS Feed

Outline · [ Standard ] · Linear+

 Insurance + investment are bad financial decisions

views
     
MakNok
post May 8 2009, 04:09 PM

Look at all my stars!!
*******
Senior Member
5,713 posts

Joined: Jan 2003
Yup,
i agreed with you on Mutual Fund..

All agents always ask people to keep invest invest invest and by the time you retire...you should have a handsome returns..which i say Bullshit..


i got a colleague who invest thru this agent(about 10 years) and deligently invest every 3 month thru EPF and yet in the end when he retire last month..

His investment almost equal to return now if he were to sold back all his mutual fund last month

Crazy,isn't it? might as well let it rot in EPF which give much better miserable return.



QUOTE(jasonhanjk @ May 3 2009, 11:33 PM)
I like to give my point of view in mutual fund.
They are the best if you intend to work till retirement age and don't bother increasing your financial intelligence.

Most people go into stock market and earn money, yet later they lose it back again to the market. The reason is because they lack the plan.
Mutual fund can provide that plan for you.
The only problem is, it only works well in an up-market.
*
Added on May 8, 2009, 4:11 pmThank you for the elightment.




QUOTE(imtrobin @ May 4 2009, 11:26 PM)
Misunderstanding or not, my illiterate mum was sold on the idea of getting back $68k upon maturity, and now it is 18K. I can understand if it's 50K but 18K is more than 70% down. The agent is long gone, so there's no point chasing that path. I hope people rethink their insurance and financial planning for retirement.
*
This post has been edited by MakNok: May 8 2009, 04:11 PM
MakNok
post May 8 2009, 04:24 PM

Look at all my stars!!
*******
Senior Member
5,713 posts

Joined: Jan 2003
Well,
i can safely say in my case....all my colleague who invest in mutual fund are blind lead the blind and i am the only who do switching reGuarly from 2004 until i liquidted my fund at feb 2008





QUOTE(gark @ May 8 2009, 04:15 PM)
You should scale back your risk as you near retirement, means sell of your earnings gradually and invest into bond based funds. If you just buy and hold then, you are not selling when it's high which you miss out all the opportunities to monetize your funds during the boom 2005-2007. If during the good times your friends did liquidize some of his funds, then he might be doing very well indeed. Like i say if anyone tells you that you can get very good returns with low risks don't ever believe them.
*
MakNok
post May 9 2009, 10:26 PM

Look at all my stars!!
*******
Senior Member
5,713 posts

Joined: Jan 2003
Which is why i wish that i wanna to point out that invest in mutual fund got risk as well.
it will work against you if think you can dump it in and just forget about it..

By retirement....hopefully when you wish to sell..happen to be UP market...if not another round of Bull which maybe might be minimum 5 to 8 years times.

I pity those who are CON by their fund manager that diversify their money into Unit trust will be much better than fixed deposit.
and promising it is a great fund for retirement.... vmad.gif
provide when at that time is not a BEAR year....


Added on May 9, 2009, 9:10 am
When one retire just at / after the crash of the stock market, all his retirement fund gone bye bye.

Many soon to be retirees in Singapore lost money in the Lehmen (lemon), one of them being interview on the TV.
One of them claim losing S$500k, after that the voice start to change.
Almost cried.

So you may want to tell your friend how lucky he is to get it back.
Some are even luckier, retire with US$1mil and few years ahead of schedule.
*

[/quote]

This post has been edited by MakNok: May 9 2009, 10:27 PM
MakNok
post May 10 2009, 06:12 PM

Look at all my stars!!
*******
Senior Member
5,713 posts

Joined: Jan 2003
couldn't agreed with you more!!!
Agent should be honest....well...they have historical data which they can help investor as well.
icon_rolleyes.gif


QUOTE(simplesmile @ May 10 2009, 08:19 AM)
I agree that ILP is misleading the policyholder. Just look at their sales kit and you will see the lies.
Usually when selling an investment link policy, the agents will show you a table from Year 1 until Year x (max maybe until Year 100). It will show premiums paid, sum insured, investment value or whatever.
Now... scan from Year 1 until Year 100. Look at the investment value. IT KEEPS INCREASING EVERY YEAR!!!! This is definitely a lie. We can't have economic boom every year for 100 years! There will be economic slowdown. IN THE LAST 12 YEARS, WE'VE ALREADY HAD 3 SLOWDOWNS (1997, 2001, 2008).
So please, if you're a good agent, then convince your agency to develop a 100 year table with between 10 to 20 years of economic slowdowns. Then show us the dips and rise in the investment value over the 100 years!
*
« Next Oldest · Finance, Business and Investment House · Next Newest »
 

Add ReplyOptions
 

Change to:
| Lo-Fi Version
 0.0242sec    0.32    7 queries    GZIP Disabled
Time is now: 5th December 2025 - 12:21 AM
All Rights Reserved © 2002- 2025 Vijandren Ramadass (~unite against racism~)
Removal Request
Powered by Invision Power Board © 2025  IPS, Inc.