Salary.sg Forums - View Single Post - Watching Millionaire Inside
View Single Post
  #20 (permalink)  
Old 03-07-2008, 05:13 PM
Wealth Journey---
Guest
 
Posts: n/a
Default 2096

Shu,
Your ILP is a good start though it might not be an optimal solution for you. Do you know that your ILP gives the agents at least 50% of the initial investment as commission for 1~3yrs. But I understand that most people just feel safer with ILP than doing direct investments into stocks or unit trusts.
There might be a conflict of interest with me telling you to invest instead of buying ILP 'coz I am a Licensed Financial Adviser by MAS. For me, I would recommend clients to create an immediate estate using term insurance. The investment should be done thru' unit trusts or ETFs or shares.

I do a combination of the above for my equity allocation in the portfolio. Maybe I'll write an article to explain how I generate passive income from the portfolio and how you can do it too. But yes, to generate enough passive income, you need time. And it's better to start as early as possible. I'm fairly confident of helping my clients get at least a million within their lifetime within 20-30yrs if they are willing to commit $20k a year into the investments in a disciplined manner.
Reply With Quote