Searching Yet Unfound

Tuesday, September 9, 2008

Today, I met Lannita to follow up the saving scheme she had explain to me on the other day. About this scheme, I find it benefit alot especially to the youngster who just came out to working world. Many people loves to spend more than save. So this scheme helps to save money and benefit in many ways. Due to economy and inflation, expenditure goes up. So this scheme can help u to prepare for that.

Besides that, saving in bank is not enough. For example, 1 year u save 1k. 5 years later, 5k. If let say you in hospital(touch wood), then u need the money to pay for the fee. Of course you have to take out all your saving from your bank. When you recovered, your bank left $0, you have to save again. It is not easy to save that money unless you have higher income. So this scheme helps to in various. For example, I want to save $100 per month. So I put $100 in it. With this 100, it is divide to 3 portion: Critical illness insure, Death insure, Investment. Im sure you all know u only allowed to use $300 medisave once. After that, you cannot use anymore. But this scheme, you can use anytime if you are critically ill. If your are critical ill, you insured 100k plus hospital waiver. Many people thought that once you in hospital u cant save. But for this, u still can save. The investment will still go on untill you sell it. For death insurance, if i die one day(choy) my family can get 100k or my saving whichever is higher.

For investment, it is invest into various unit trust. Not 1 but 3. Just in case one crash, u still have another. But price up or down is up to market. Only a few percent goes to unit trust, then the rest for the other 2 portion. The invest money is alway inside for long-term. If you in need money like for wedding, house and stuff like that, you can sell your unit trust and withdraw your money anytime you want. You want to switch fund also can. It is up to you to do so cos is your own money.

If you want to top up the saving, you may. Or you have finance tight you cant put in any amt, you can stop. investment still inside. If you want to terminate this scheme and want to take your money back, also can. There's no need to pay any fee or whatever. Cos what u get is your own money. There's also no interest.

I take up this plan cos of future needs. This may not be 100% good saver, but i can assured there's not extra thing to pay. Not only that, I cant just rely on bank saving cos I'll be forever in the circle. No way out. No second choice. I don't want that way. In this real world, some risk need to take to get better. No risk no gain, unlike the olden days. It never gonna be the same.

For goodness sake, when I reached home, I haven't talk about it to my mum but only show the broucher, she already disagreed. She haven't listen to me yet. And I know what I'm doing. She kept saying is same as AIA. NO! NO! NO! is not the same. AIA policy is more rigid and traditional way, have to pay. But for the scheme i mention, it is more flexible and is all up to the person. That's what i say listening without understanding. No, she's not even listening at all. Futhermore, she always say i keep listen to my friend but not family. She also the same. Haix... well, i know my what I am doing. Im grown up. There's something I have to decide my life. I cant rely on others.

I share this to my friends, cos maybe it benefit you too. It's up to you whether you are comfortable anot to do so. By the way, I considered alot for abt a weeks, and I wondered alot and asked alot. I find it there's no much harm. I am comfortable to do so and is long-term saving. Some more it is flexible unlike others. Makes me less worry is that the unit trusts are not banks unit trusts. And there is a market management to help invest and look out. So is all up to me.

Yup, that's all for today. Night!

11:17 PM Deadgalzz Y