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Anonymous

19 Apr 2022

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General Investing

25 years Endowment for retirement plan?

I’m 34 this year and my financial advisor offered me a PRUWealth IIl endowment product of 25 years to cover up my gaps in my retirement plan. However it will take up 35% of my current salary. He mentioned that this is to accumulate and grow my savings. I’m currently paying 13% of my current salary to health insurance. It feels a little stressful to make such a big commtiment for the next 25 years. I wonder if there are any other option for me to start investing smaller right now and allows me to top up as my financial abilities grow or if other form of investing would be more suitable?

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PolicyWoke

19 Apr 2022

Turbo-charge Your Savings with REPs at PolicyWoke

Hi Anonymous,

If you find that the commitment of 25 years is too long, an alternative would be a shorten-tenure PruWealth I or other endowments in the resale market. Here is one PruWealth I example that we have which will mature in Jan 2036:

https://www.policywoke.com/product/pru-pruwealt...

Disclaimer: PolicyWoke is a resale endowment policies broker

https://www.policywoke.com/

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1M45

Edited 19 Apr 2022

If you want to grow ur $$$, now there is lot of robo advisor out there, with no min. sum to invest. Just DCA regularly over long term you will do well.

Or recently there is Syfe trade. Enable to buy fractional shares of individual ETF.

Why pay other people commission, when you can DIY easily. You are able to do it better and there is no rigid rules to stress you out?

There is lot of sg youtube video about robo-advisor. Go look it up.

Dont touch any saving/investing plan from insurance companies.

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