Another Investment Plan

Today I met a financial planner recommended by my friend for lunch. I find that he and I get along pretty well, and he is someone I can trust. I know most financial planners are those that have to get along with people and that they are trustworthy, but I have come across a lot of financial planners that are not only pushy, but they get extremely rude when you turn them down. However, this one is just like meeting a new friend. My friend herself is rather impressed with him, if not for the commitments she already have, she would have gotten a policy from him as she was pretty impressed with that particular policy.

 

In any case, I met him and we started discussing investment. The thing about living here is that one hardly have any cash on hand, due to housing loans, car loans, some even study loans. Everything is getting higher except our salaries. But we have to contribute twenty percent of our income to a government portal and the money is to be used for public housing, medical and retirement.

 

I have already invested part of that a few years back, and during the 2008 bank run, I lost quite a bit. Luckily, my existing planner did a switch and now it is recovering, albeit slowly. So I managed to salvage that.

 

Right now, I have some funds sitting around doing nothing. I cannot utilise that nor withdraw. Since I am not entitled to get a place of my own as yet, and even if I am entitled to there is not enough for the cost of housing here, I decided to invest a bit more to gain more returns.

 

Hence I asked for advise and was given a very good plan. Nowadays insurance agents not only have to give financial advise, they also have to be stockbrokers! With the funds I have, I can invest 30% into blue chip, 30% into Global Markets, and the remaning 40% into local and Asian secured stock. And these are very well-established stocks from very good companies, so the returns will be quite a bit!

 

With that, I asked him to help me register for the investment plan. Hopefully I can generate returns faster so my money can grow faster, and I can at least have a bit more for my "dream" house in the near future! Keeping my fingers crossed that the economy will not have anymore drastic changes!