Financial planning for a young person

Dear Mr Tan

I wish to seek your advice as to how to help my son with his financial planning. He has just started work.

At the moment, he has 2 NTUC policies (endowment and Living). One of them is paid by him and an IL Insurance Policy with Prudential he bought a few months ago (from his classmate) before I stumbled on your website .

What other areas can he put his money to create wealth. He does not know anything about stocks and shares.

LC

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Dear LC

I suggest that your son should invest in our Ideal plan (instead of the Prudential IL policy). I think that their charges amount to 16 months of premium, compared to 7 months under our Ideal plan.

You can read about our Ideal plan here:
Ideal

And the comparison of charges can be found at:
Charges

If your son wish to make a switch, I will ask my business center manager to offer a reduced front end charge, to compensate what what he has already incurred with the Prudential plan.