It is advisable to invest in a flexible product which does not lock you up for many years. This product has no entry or exit charges, apart from a small transaction charge.
Examples of a flexible product:
* saving account
* short term fixed deposits
* no-load investment fund (with no exit penalty).
Examles of non-flexible products:
* traditional endowment and whole life policies
* structured products
The non-flexible products usually has high marketing costs. To recover this cost, the product has to be locked up for many years. If it is terminated early, there will be high charges.
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