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Is it worth placing a sum of money into OCBC BCIP every month? What's the perks of doing this? Are there any cons?
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Pang Zhe Liang
27 Dec 2019
Fee-Based Financial Advisory Manager at Financial Alliance Pte Ltd (IFA Firm)
Before you start investing, it will be best to understand your objective. Here are some questions to help you:
What is your capital?
How will you want to invest your capital? E.g. lump sum or an amount on a regular basis
How long will you want to stay invested? E.g. 10 years
What is your risk appetite? E.g. How do you feel about short-term volatility?
What is your objective for investing?
Most investment channels have their set of pros and cons. Therefore, greater emphasis should be placed on understanding you and your goals. It is only then we can find out if OCBC BCIP is a suitable investment channel for you.
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OCBC BCIP only provide limited numbers of local-listed counters, and the word "blue-chip" companies had to be seen in local context, hardly juggarnauts if compared to other world-class US-listed companies.
That said, the RSP only made sense if you are prepare to invest a minimum amount of money that reduce the % of monthy transaction costs and identify stocks (out of the alr very limited list of available counters) you believe in & willing to hold over the long-term