SINGAPORE – If you are looking for fixed-income returns, you should deal with only reputable parties that are financially stable, otherwise you could end up losing all your money.
You should also know investment companies are not banks, so you will not enjoy the maximum $100,000 deposit protection if the firm fails. Ignore such ads, which are created by scammers, because well-known people would certainly not appear in any private ads put up to attract sales, let alone endorse those products as being beneficial to customers.
Even if you are keen, visit the official websites to check and compare that the terms of such products are the same.Some sales people offer free shopping vouchers to lure you into participating in surveys on general financial matters. The reality is that they are only keen to know your spending or saving habits so that they can try to sell you a product.
Ask yourself whether it’s worth spending $100,00, for example, to buy a financial product that you may not need just to get a free $1,000 smartphone. If you are keen to own the smartphone, you are better off visiting a telco shop to check out the deals. Do not fall for any “limited-time offer”, especially if you have not carefully studied the terms and conditions. Many people often commit to a plan without realising that it can strain their cashflow.