DONT BE AFRAID TO ASK ! (Ho Chi Minh City)
Taking advice on where to place a % of your surplus income is a great idea when building a savings plan, but lets open your eyes to what you need to look for, as some companies don't have everything outlined in their brochure! And so many "Sales/Advisors" only use one product ..Guess why? Commission !
Before you even get to the brochure stage look at the length of the term that is being suggested and why? Don't just accept if you are 40 you will retire at 65 therefore you need a 25 year plan! Reason being is that the charging structure will remain for 25 years irrespective if you carry on that plan as its meant to be or not. E.G 99% of the time you will be told you can reduce your premium after a space of time ! That is correct however you won't be told 99% of the time that the charges will remain on the higher amount !!!!
Your charges are not always just a management charge, there can be entrance charges, exit charges, if you reduce your input your charges may not reduce, there is generally a period you must pay into the plan and that money may not be invested!
Then there are the commissions we may be paid unless you are dealing with an IFA that is purely on a fee basis.
Now this may all sound like a mine field and doom and gloom, but it really shouldn't be, as primarily the companies used for such plans are hugely successful and have been around for decades providing these solutions.
When you buy a new car why do we get it right when we fill up, why don't we put diesel in a petrol car and vice versa...simple..because we make sure we know what we've bought by asking all the questions we need answering. Many times the car gets a flat and we go searching for the spare and the jack, we grab the manual out the glove box and we read to find where it is located. My suggestion is we do the same when we are planning our finances....grab the brochure read all the T&C's, the charges, ask how the commissions get paid and if from the product provider how does that affect you and don't be bamboozled if you don't understand something go grab another opinion, but from someone qualified to answer.
Every expat WILL and CAN benefit from the correct qualified advice Protected content will give you a straight to the point Complimentary consultation, then the choice is yours. We can't make you make the right decision but we will give you THE CORRECT ADVICE!
Have a great day and remember "if your fail to plan your planning to fail" so don't get drawn in to hearsay its used way to often, listen to the facts and get the whole picture, and start planning your financial future.
Make the right choice and book a consultation Today !