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Clarence Chua
09 Jul 2019
Financial Planning Specialist at Prudential Assurance Singapore
You should always get your insurance set up first.
Because of the unknown that can happen.
A simple way to set up your priorities for finance in order is a CSI concept. (Coverage, Savings, investment.)
Letโs say something happens in one year time, 1k into insurance can give you 500k.
Even if you were to put 10k into investment, you will need 500x or 5000% in return to get the 500k.
Set up a firm foundation then build your tower. ๐๐ป
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Hariz Arthur Maloy
07 Jun 2019
Independent Financial Advisor at Promiseland Independent
Insurance always comes first.
At least get your hospitalization plan settled and purchase CI cove...
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First I recommend to do analysis.
Do You really need insurance? Life Insurance on the long-term and on the average are
inferior structured investment products, with difficult to understand concepts, assumptions and fees (explicit/implicit). Life insurance is somehow a lottery. Avoid.
For investing: inform yourself well first by reading a lot. f.ex. on Seedly, or buy some books on investing, try to interest yourself for an "ultra-long term buy&hold passive stock indexing ETF strategy"โโโ