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 [WTA]Uni.Asia Savings, please advice :S

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stev609
post Mar 12 2013, 07:10 PM

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Just to share my thoughts as happened across this forum post while searching some stuff on uncle google.
Haven't been to the 'event' but based on experience (am a MBA holder & have a strong interest in personal finance).


Pros
- Savings plan is valid with returns ~5%

Cons
- Returns are not as high as 40% etc (re: Roy's comments on internal rate of return)
Simplified e.g. 1st year you invest $1000, you get back RM400 = 40% return
If you continue investing same amount every year, in the 10th year you would have invested $10000 but your returns RM400 = 4% return
- Check as well minimum lock in period & penalties for early withdrawal (probably will only be profitable after min 20+ years)
- The group in question appears unethical with high pressure techniques, pressured collecting of $ & the overt focus on recruitment
- The 'job' focuses on exploiting your contacts, your goodwill & tricking others to sign up (additional reading: http://mlm-thetruth.com/tools1/consumergui...red-flags-pps/)

Conclusion
Avoid this

 

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