Anonymous
How to choose a savings plan?
23 y/o/ graduating with some savings to stash away. Not looking at investments as I want a guaranteed capital and have no problem locking my money away. Would now be a good time to buy a savings plan with a 5 yr premium term given that there is expected to be an economic downturn sometime in the future, which may decrease my returns?
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Hariz Arthur Maloy
22 Mar 2019
Independent Financial Advisor at Promiseland Independent
I suggest buying lifetime annuities. They will build your passive income. Have a mix of annuities that pay out soon, and annuities that pay out during your retirement years.
For any short term maturity payouts of between 5 to 10 years, SSBs are a great option.
Annuities are my personal favourite products and can help you identify those that you may want to look at.
Make sure that they pay for life and doesn't reduce your capital.
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Hi there! Start by having short term savings plan if you are worried about economic downturn in the future!
If you found a job in the future, buy more savings plan that is long term. You can opt for those plans that has annuities or “coupons” that allows you to cash them with RB.
There are also some insurance companies offers capital guaranteed! Do check them out or message me to find out more! Hope this helps