Hi Mr Tan
I am 22 years old. I wish to start a investment plan. You had advised to set aside 10% to 20% of my salary for investing, and to invest in unit trust or insurance funds.
You said that insurance products does not provide a satisfactory return, compared to an investment fund.
What kind of insurance funds should I invest in. I wish to have a plan that have a low front end charge, so that I can see breakeven earlier?
REPLY
I suggest that you invest in the Combined Fund through the Ideal Plan (ID7) from NTUC Income. You can buy this plan directly from the Business Center.
It allows you to invest 100% of your monthly savings. You can buy a decreasing term insurance to give life insurance protection.
Read this FAQ:http://www.tankinlian.com/faq/fptips.html
Here is the info on the business center:
http://www.income.com.sg/businesscentre/
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