Hey! Loo has answered it here: https://seedly.sg/questions/do-you-think-that-i...
I have quoted his answers here below...
There are 2 parts to this question which I will answer in parts.
- Usefulness of CPFIS. I cannot share advice on what you should do, but I can share what I have done. First, I have set aside money from OA to SA. Thereafter, I set aside as much as I could to top up my SA to the FRS level. This formed my financial safety net. Thereafter, I invested into Index Funds approved by CPFIS. Do note that is a limit on what can be used in the CPF-OA
- Usefulness of financial planners. This is a blanket statement, but I generally feel that CPFIS, if I am just buying index funds and buying crashes, I won’t rely on a financial planner. I generally do not think that financial planners can beat the performance of index funds and I do not need financial planners to help me become rich, but instead I rely upon them for my protection needs (insurance)
Hey! Loo has answered it here: https://seedly.sg/questions/do-you-think-that-i...
I have quoted his answers here below...
There are 2 parts to this question which I will answer in parts.