Get the Right Financial Healthcheck

Your most important action, after getting a healthcheck, is to get the right treatment.

If you carry out a financial healthcheck, you must select the right product to make your investment.

Many advisers offer you the wrong product that give you a poor return. This is due to the high commission that is paid to the adviser. The typical cost of the advice is 18 months of your savings. That is a lot of money to give away.

If you select a comparable product from a low cost provider, such as NTUC Income, you can about 15% more on the maturity of your savings over 20 years. If the maturity amount is $100,000, you can get $15,000 extra.

If you save for 30 years, the difference is larger. You can get 25% from a low cost provider.

This is based on a difference in yield of 1.2% per annum.

When you save for your future, make sure that you get the right product. Choose a product that offers you a better yield (from a low cost provider). Take care of your own financial future.