Investment Linked Policies (ILP)
Regular Shares Savings Plans (RSS/RSP)
Asked on 20 Jun 2020
I am a fresh graduate. I have no investment experience but I have been reading up on them quite a bit. As I have no investment experience, I am considering Pure ILPs since I do not have to manage them actively. Is there any platform where I can do it myself to lower the fees yet still keeping it mostly passively managed? Also, what do you guys think about FSMOne RSS and StashAway compared to Pure ILPs?
Firstly, you need to know what are ILPs. ILP stand for Investment-Linked Policy which provides both insurance and wealth accumulation components. Knowing this, it is not right to directly compare ILPs to Robos or RSPs which are solely meant for investments only.
Next, do not mix insurance and investments together due to higher costs and lower return as compared to getting them separately. You should find an advisor you trust to get your insurance plans based on your needs.
Lastly, I think you should definitely read up more about investing. You should know what are the various options available, how you can profit from the different instruments, and the risks involved.
Before you start investing, do look at Seedly's checklist first: https://blog.seedly.sg/working-adults-begin-investing-saving/
Next, you can compare the strategies by the different blogs on how to invest your money:
The Fifth Person: https://fifthperson.com/invest-10000-covid-19-crash/
20 Jun 2020
21 Jun 2020
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