May 15 2009, 02:29 AM
Since it's relevant, maybe you guys can think and discuss about it:
QUOTE(b00n @ May 14 2009, 12:08 PM)
In the above, you're just stating the fact that ILP is meant for those "lazy" ppl which do not bother to get their own hands dirty.
ILP also invest in funds - equities and money markets but one person is not in control of the switching or cashing out. It's fully dependable on the judgment of the specific fund manager.
Your only strong point is saying that normal ppl could not match the likes of these fund managers which is again just an excuse for those "lazy" ppl.
If you ask ppl like me or even dreamer, we never hoped for "savings" to help grow money. (dreamer may correct me if I made the wrong assumption on behalf of him)
Savings to me is yeah....savings and for future emergency use. Interest earned is a surplus as long as I don't loose that amount of money (let's not talk about the risk of inflation risk involved here). Heck, I could keep cash stored in my own house safe box and that's savings to me.
Investment is a separate play altogether for me. I'm clear on the risk and what is expected, also clear on what I want to achieve and when it's achievable.
Insurance is only protection for me. I also do not expect insurance as a way for me to increase my net worth. It's a surplus if it does.
Thus to me, I don not mix these 3 together. Reason being if I lose in my investment portfolio, I still have my savings and insurance.
If for some reason, I've claimed my insurance; I still have my savings to support me and investment which helps me generate income.
I don't want to be in the position where I lose out in everything when one of the "bundled" product failed. i.e. when I claimed my insurance, my ILP automatically is gone; so what's my future? Savings and investment is gone with it if one relies solely on ILP as a all for one tool for Savings (or forced savings which sales like to propagate) + Insurance + Investment.
You may call me old fashion. Guess a lot of younger investors are terming me as old fashion although I'm only in my 30s.
ILP also invest in funds - equities and money markets but one person is not in control of the switching or cashing out. It's fully dependable on the judgment of the specific fund manager.
Your only strong point is saying that normal ppl could not match the likes of these fund managers which is again just an excuse for those "lazy" ppl.
If you ask ppl like me or even dreamer, we never hoped for "savings" to help grow money. (dreamer may correct me if I made the wrong assumption on behalf of him)
Savings to me is yeah....savings and for future emergency use. Interest earned is a surplus as long as I don't loose that amount of money (let's not talk about the risk of inflation risk involved here). Heck, I could keep cash stored in my own house safe box and that's savings to me.
Investment is a separate play altogether for me. I'm clear on the risk and what is expected, also clear on what I want to achieve and when it's achievable.
Insurance is only protection for me. I also do not expect insurance as a way for me to increase my net worth. It's a surplus if it does.
Thus to me, I don not mix these 3 together. Reason being if I lose in my investment portfolio, I still have my savings and insurance.
If for some reason, I've claimed my insurance; I still have my savings to support me and investment which helps me generate income.
I don't want to be in the position where I lose out in everything when one of the "bundled" product failed. i.e. when I claimed my insurance, my ILP automatically is gone; so what's my future? Savings and investment is gone with it if one relies solely on ILP as a all for one tool for Savings (or forced savings which sales like to propagate) + Insurance + Investment.
You may call me old fashion. Guess a lot of younger investors are terming me as old fashion although I'm only in my 30s.
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