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Do not buy insurance savings plan to save for retirement. Save 300k by reading this!
By Singapore Blue Chips  •  January 21, 2020
There are many endowment plans and single premium plan marketed by insurance companies. One of them works this way. You pay $1M upfront and 5 years later (60 months) later, you will receive income for life. The income is about 42k a year. After 5 years, your principal is guaranteed. Apparently, it is selling like hot cakes as people like guarantee products. To me it is plain silly because there are like a billion alternative investment equally safe and more liquid. For example, you can buy a portfolio of Unit Trust. First State dividend advantage, Schroder Asian Income, First State bridge, Schroder Asian Income etc. They are not the best but surely can generate 5% pa or more and pays you dividend straight away upon investing. You can buy 4 different bonds of different tenure. For example SPH 3.2 2030, Wingtai 3.68 2030. If you still think it is risky, then buy...
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By Singapore Blue Chips
I am an ordinary Singaporean guy in my early thirties who is passionate about investing since 2003. I live in a 4 room HDB flat and like many Singaporeans, dream of becoming a millionaire. Currently I am an ordinary worker and have just completed my Masters. I aspire to build up a portfolio of 1 million dollars and derive a yearly recurring dividend income of 6% by 35. The only way to achieve this aim is to work hard and invest prudently. I invest in a variety of instruments such as unit trusts, stocks, REITS and foreign currencies mainly Australian dollars options.
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