The training manager of a large company told me that they have 5,000 employees, who earn an average of $1,500 a month. Most of them do not have any savings. They spend all of their earnings.
What is my advice for them?
Here is my reply.
- Save 10% of your monthly earnings
- You may need the savings in an emergency, eg loss of job or pay medical bill
- Do not buy a life insurance plan - it penalise you when you take out the savings
- Invest in a flexible plan, such as the Ideal plan from NTUC Income
- 100% of your savings is invested from the first month
- you can earn an attractive return, ie better than bank deposit
The training manager was convinced. He wanted to arrange for his employees to attend my educational talk.
Subscribe to:
Post Comments (Atom)
:.
0 comments:
Post a Comment