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I think a big problem of many insurance products are the huge front end commissions.Reply
You bother to read those rubbish interviews on Sunday Times?
Have you notice something very funny in those interviews:
1) 90% of interviewees will tell you that their best investment is in their own business. Hence ST is trying to tell you, don’t bother with unit trust, stocks, bonds etc, just go into business if you want the best returns.
2) Another 5%-7% will tell you they have invested in properties as their best investment. Usually they are the property guys or they had bought properties at super duper low prices ages ago.
3) Many of them will tell you their worst investment is some stocks, unit trust or alternative investment etc. Most will say they invest without research.
4) Almost 100% of them say they are savers. If not malu if they tell the whole world they are big spenders. It is part of Asian culture.Reply
Thanks for pointing out your observations.
I skim through the report actually.
Actually, a successful business can be a great multiplier of wealth. So it is not surprising that those (successful) people who are interviewed will say that their business is their greatest investment.
And spenders will find it harder to grow their wealth, so….
Anyway, just a side point. Being interviewed does not mean that person is wealthy/successful.Reply
Most UTs have huge front end charges as well and annual charges too.
I believe that each of us have our own unique battle ground. Some are genius at corporate world while others are genius at their own businesses. You just got to know which battle ground you best fit in.
There is saying “there are no good or bad investment, only good or bad investors”.