The short answer is - "Avoid the mistakes that are made by over 80% of the population".
What are these mistakes?
a) Falling for investment scams that promises high returns with low risks. Most of these scams are not regulated. The government does not pay attention to them and do not take steps to stop them. They may act after many thousands of people are cheated, and that would be too late.
These scams include gold bars, land banks, agarwood trees, wine investments and many variations of these scams.
Some of them are ponzi schemes where the money from the investors are used to pay the high returns for the earlier investors, giving the illusion that the deals are credible!
b) Trading in stocks, currencies and other financial products. The investors, who are usually people who have lost their jobs and have some free time, think that they could use the free time to make some money on trading or "investing".
They do not realize that the tradings are actually gambling or speculation. They are gambling against professionals and big funds who can move the market against the small traders. They lose from the transaction cost, spreads between buy and sell price and the manipulated change in trend.
c) Investing in regulated products, such as life insurance plans, with high upfront and ongoing charges. These charges could take away 2.5% or more from the annual yield. If the long term yield is 5% per annum, the net yield after charges is only 2.5%.
Over a 30 year period, the deductions could take away 40% or more of the wealth or accumulated savings. This is why the financial institutions make so much profits and the public gets a poor return.
What do the 20% do?
They learn about the simple, reliable and proper way to invest their savings. These secrets are disclosed in the two talks organized by the Financial Services Consumer Association.
http://fisca.sg/event_det.aspx?id=3
What are these mistakes?
a) Falling for investment scams that promises high returns with low risks. Most of these scams are not regulated. The government does not pay attention to them and do not take steps to stop them. They may act after many thousands of people are cheated, and that would be too late.
These scams include gold bars, land banks, agarwood trees, wine investments and many variations of these scams.
Some of them are ponzi schemes where the money from the investors are used to pay the high returns for the earlier investors, giving the illusion that the deals are credible!
b) Trading in stocks, currencies and other financial products. The investors, who are usually people who have lost their jobs and have some free time, think that they could use the free time to make some money on trading or "investing".
They do not realize that the tradings are actually gambling or speculation. They are gambling against professionals and big funds who can move the market against the small traders. They lose from the transaction cost, spreads between buy and sell price and the manipulated change in trend.
c) Investing in regulated products, such as life insurance plans, with high upfront and ongoing charges. These charges could take away 2.5% or more from the annual yield. If the long term yield is 5% per annum, the net yield after charges is only 2.5%.
Over a 30 year period, the deductions could take away 40% or more of the wealth or accumulated savings. This is why the financial institutions make so much profits and the public gets a poor return.
What do the 20% do?
They learn about the simple, reliable and proper way to invest their savings. These secrets are disclosed in the two talks organized by the Financial Services Consumer Association.
http://fisca.sg/event_det.aspx?id=3
1 comment:
If you want to get better return don't trust the insurance agents. Many of them are NOT QUALIFIED ; they are only salesmen and conmen. So, what do you expect from salesmen and conmen? They are only interested in squeezing as much out of you and this COST to you. Remember cost and return are inversely related.
Low cost products? reits and ETFs...
Attend Mr. Tan's talk and save thousands of dollars from insurance salesmen.
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