facebookAdvice for someone who has zero idea on investments? - Seedly

Anonymous

07 Jun 2019

General Investing

Advice for someone who has zero idea on investments?

I have been asking around and FAs are just suggesting ILPs which is a huge no. Another friend recommended iFast. Anyone heard of them before?

Discussion (10)

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Luke Ho

Edited 26 Apr 2022

Founder and Director at CFX Money Maverick Pte Ltd

I'm not sure you fully comprehend why you shouldn't get an ILP. There are over 13 types of regular premium ILP and some of them have even lower break even costs than some fund houses along with a range of side benefits.

So if you get more benefits for a lower cost, you actually have nothing to complain about aside from a lock in period, and if you're not committing to investing long term you shouldn't invest at all.

I offer iFast though, if you insist.

Some people are going to advice you to read and stuff. If you wanted to read, you would have read instead of asking this question.

Talk to a specialist.

https://www.facebook.com/luke.ho.54

View 5 replies

Hi I understand how you felt as I was previously in your shoes as well.

I have no idea where to start and when i was approached by FAs they only suggested ILP which I'm not very interested in.

The simple reason why I'm against ILP is the lock-in period and the limited controls i have over the plans. I dont deny the fact that it actually generates quite a good return (7-10%) but I rather have more control.

To answer your question: I would recommend you to do your own research and start investing yourself and not depend on FAs (I dont mean they are bad but why 'pay' FAs when you can do it yourself)

  1. Monthly RSP. One of the lower risks in investment. However it also means lesser returns.

  2. Blue chips stocks. I look for companies that are stable and gives out regular dividends (~5%)

  3. You can also consider on RoboAdvisors (instead of FA, robots are cheaper and sometimes the statistics generated from robots are better analysis)

View 1 replies

Lim Boon Tat

22 Apr 2019

Mathematics at Cambridge University

TLDR: I seriously recommend that people learn more about investing (value-investing in particular) r...

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