Anonymous
I have financial products that payout for retirement (age 65), but I'm wondering if there are any products to help finance everything from age 30 to age 65 with about 10 years to accumulate.
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Pang Zhe Liang
30 May 2020
Fee-Based Financial Advisory Manager at Financial Alliance Pte Ltd (IFA Firm)
Yes, there are various financial products in the market that are capable of providing such payouts. For instance, you may wish to consider a participating annuity plan from an insurance company. Before that, it may be good to understand how a participating fund works. This is because it has a direct impact on the returns that you will get.
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Overall, we should place emphasis on the guaranteed returns that such products that are able to offer. Additionally, such products also offer non-guaranteed returns in the form of bonuses.
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Reversionary Bonus and Terminal Bonus Singapore
If you are looking into this area, I will suggest for you to check with your agent or speak with one that you trust.
I share quality content on estate planning and financial planning here.
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Loh Tat Tian
30 May 2020
Founder at PolicyWoke (We Buy Insurance Policies)
It depends on how much you need and what kind of payouts etc you want.
If you are adventurous, stoc...
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10 years is the sweet spot that opens up your options to a multitude of products related to insurance. You will be able to pick and choose many structures based on the 10 year accumulation time frame, however, the cash flow cost for accumulation will be significantly higher than a 20-year time frame.