In the past, many people have approached me on land banking and time sharing products. These are people who meet me at various events and claimed to know me. They gave me a business cards indicating their involvement in these companies. They wanted to market the products to me. I declined. Some of these marketeers called my home telephone to tell me about the investment opportunities. I also declined to talk to them.
I make it a point to avoid every one who markets investment products. I know that they earn commission from their sales to investors. It is easy for them to tell stories about how much profit can be made from these investments, so that they can close a sale and earn their commission. But the stories of the potential profits are mostly exaggerated.
I do not even bother to spend time to due research on these investment products. I just avoided all of them. This is why I did not know about the min-bonds, pinnacle notes and other credit-linked notes until they busted.
Tan Kin Lian
Friday, June 4, 2010
Medical insurance
Dear Mr. Tan,
I hope that you can post some advice in your blog on choosing between the Medishield, Shield and hospital insurance.
Reply
You can view some of my postings on medical insurance here. You can get a more complete writeup in my book, Practical Guide on Financial Planning.
My advice is to buy a Medishield plan (from CPF) or a Shield Plan B from an insurance company. There is no need to insure the co-payment and deductible, as these expenses are small and can be paid out of Medisave.
I hope that you can post some advice in your blog on choosing between the Medishield, Shield and hospital insurance.
Reply
You can view some of my postings on medical insurance here. You can get a more complete writeup in my book, Practical Guide on Financial Planning.
My advice is to buy a Medishield plan (from CPF) or a Shield Plan B from an insurance company. There is no need to insure the co-payment and deductible, as these expenses are small and can be paid out of Medisave.
Lawyers and shady practices
Dear Mr. Tan,
The land banking company that is mentioned in many blogs for failing to return the investments on maturity is being advised by a big legal firm in Singapore. This firm is headed by a well known lawyer who is also a MP. How can the Government allow the MP to be involved in advising a company that is engaged in shady practices? Is this why the relevant bodies are not prepared to investigate this land banking company, in spite of many complaints being lodged with the CAD and MAS?
REPLY
I do not know whether this MP is aware about the practices of the land banking company. Perhaps, it is another partner that is advising the company.
The land banking company that is mentioned in many blogs for failing to return the investments on maturity is being advised by a big legal firm in Singapore. This firm is headed by a well known lawyer who is also a MP. How can the Government allow the MP to be involved in advising a company that is engaged in shady practices? Is this why the relevant bodies are not prepared to investigate this land banking company, in spite of many complaints being lodged with the CAD and MAS?
REPLY
I do not know whether this MP is aware about the practices of the land banking company. Perhaps, it is another partner that is advising the company.
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