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Wednesday, March 21, 2007

Suitable product for 59 year old

Questions:

I am 59 years old and is will continue to work in a trading company till age of 62 years.

I do have $250K cash in hand now and I hope you can recommend what are the best investment products other than bank's fixed deposit for me.

I have a $100K I-Gifts policy, IncomeShield, and a personal accident policy.

I just purchased a HDB EA unit with full payment and I have already arranged necessary coverage & protection for my wife & daughter including insurance products.

I would like to hear your suggestions as this money is for my own future spending & use.

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My reply:

I suggest that you invest $150,000 in a life annuity and keep the $100,000 in the money market fund (to be invested into the Global Equity fund when the stockmarket corrects to a lower level.

You can read the FAQ on these two products at:

http://incnet.income.com.sg/uiGuide/guideDetailsPublic.aspx?gde=3307
http://incnet.income.com.sg/uiGuide/guideDetailsPublic.aspx?gde=3026

I will ask a consultant to explain these two products to you.

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