Here is my view of the best financial plan, which is suitable for every person.
* Have adequate savings, representing 10 to 20% of your regular earnings
* Invest in a large, well diversified, low cost fund
* Choose a flexible plan that gives you the freedom to change, at minimal cost
* Buy low cost term insurance to provide protection against death and disability
Do not be locked into a high cost plan that locks you up for many years, so that the agent and the financial institution can make a lot of profit from you. Do not fall for the "guarantees" which ends up in denying you the freedom to change your mind.
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