Investment, Savings & Retirement
What is 'Investing' ?
You deposit money into something and you want your share of money to be more after a while.
What type of options are there, to mention some?
| Bank Savings Account | A bank will hold your money for you and you could earn an interest on that money if you leave it there for some time. You can take the money at any time. |
| Bank Fixed Deposit | A bank structured product where you have to leave your money with them for a specific time and you will earn a stipulated interest on the money. |
| Investment Product | Contract between Investment company or Insurance company where you invest your money for a specified time. |
| Unit Trust | It is an option where the Investment company, its staff, the Fund Manager, add your money in a specific fund with other people where the fund manager buys and sell units of other funds, companies, countries and banks with the aim to make more money. |
| Exchange Traded Fund or ETF | It is an option where the investment company add your money in a specific fund with other people to track an existing fund or index. |
| Shares | Companies ownership is divided in pieces of value. You can buy a share in a company in the hope that the Company will grow and declare big profits at the end of a year. Shares is also known as stocks. |
| Tangible item | You invest in something tangible, for example: Gold coins, paintings or property. After some years you sell the item to make a profit. |
Some reasons to invest:
| Emergency Fund | You need 6 months salary saved. |
| Short Goal | You want to do an overseas trip and this is planned between 1 to 5 years. |
| Medium Goal | Child Varsity fees 6 to 20 years. |
| Long Goal | Your Retirement 20 plus years. |
Questions to consider:
- Have you made provision to replace 6 months' worth of income to be used as Emergency funds?
- Do you have a retirement plan which you track often to make sure you would be able to continue your standard of living?
- Are you using a savings option that is more tax beneficial to you?
- Are you going to retire and are not sure if a percentage of investment or life guarantee would be best suited to you?
- Did you win the lotto or have your own savings from which you would require to earn an income and you're not sure if a percentage of investment, or a term or life guarantee, would be best suited for you?
Wealth creation is a daunting landscape, let us assist you.
No plan is a "One size fits all" solution. Each individual has different needs, different desires and unique risk appetite, which means each Investment Plan, Savings Plan or Retirement Plan needs to be tailor-made to fit you perfectly.