facebookILPs for 10 year time frame? - Seedly

Anonymous

13 Mar 2023

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General Investing

ILPs for 10 year time frame?

Someone recommended putting $12000 per annum in an investment plan (in the likes of GWA/AIA Pro Achiever) for mid-term goals (e.g. for property, children). Rationale is that the current market is down, and there is a welcome bonus of 50% for that amount.

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Our time frame is 10 years. What are your thoughts on this recommendation? Yay or nay?

Discussion (24)

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Nay for me, I would prefer to have investment by my own as for now

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Nay, never ever consider ILP.. eat away your money slowly with high hidden fees, and most do not profit.. from personal experience. Put thevmoney in SSB or fixed deposit better than ILP.

Avoid ILP at all costs. The fees will eat away most of your returns. Try googling how terrible ILPs are. Don't be attracted by the 50 percent welcome bonus, nobody gives you money for free.

Nay... Consider bank interest first these days!,

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