Anonymous
I am currently an NSF (ord in 9 months) and wish to start investing. I currently have a savings plan with AIA Pro Achiever, putting in $200/mth. I intend to invest some extra $200-$400. Is ETFs the right choice to go? I appreciate any advice given
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Tan Yu Ji
14 Aug 2020
Economics at Nanyang Technological University
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Ow Jie Liang
14 Aug 2020
Student Ambassador 2020/21 at Seedly
ILPs are generally not worth it if as compared to passive investing in an ETF. I personally agree with Frankie's answer (his article is long, but please read and understand what he wishes to convey) so you can then digest and decide if you wish to continue with the ILP.
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Cancel the AIA Pro Achiever if you just started, the trade-off is just not worth it.
I'd suggest 2 ...
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Yes like what ATJY said, AIA pro achiever is actually an ILP. You should talk to your financial advisor about it as i really don't recommend someone buying an ILP due to its high costs. They will charge you around 2.5% per annum just to help manage the fund. Additionally, the money is being locked up too.
If you are new to investments, you can try out robo advisors like stashaway or syfe. They will help you diversify your portfolio at a low cost!
Additonally, if you are more adventurous, you can also invest in ETFs on your own. Do use the regular savings plan option in FSMone to adopt dollar cost averaging. If you need the referral for stashaway so we can both get 6 months free management, do let me know!