Those of you who follow me on Instagram would probably have seen this exciting piece of news by now....
Got invited to attend the Value Investing Summit over this weekend so I'll be covering some of what I learnt over here tomorrow before I distill them in greater detail on the blog!So for those of you who are keen to learn a bit more in-depth, you can look out for my lengthy blog post at a later stage. It'll take me a while as I need to usually research and fact-check a lot of details before I post officially on the blog (where my harshest critics are).
Last week, I invited many of you to join me on a Financial Fast as the first step to unlocking your savings potential and understanding your regular spending tendencies!After a week, how has everyone fared? Did you learn anything new about yourself?For me, this isn't the first time I've tried out the #financialfast #dayrefinancialfast on myself, so my insights weren't anything new - merely reaffirmed. Here's what I rediscovered:
There isn't much information about term insurance plans available to consumers as few insurance agents will sell this type of plan, with most preferring to sell life or investment-linked plans instead. Why? Because they earn higher commissions if you buy that off them, that's why. Commissions are paid based on the premiums you pay, so if you buy a plan with higher premiums upfront, your agent gets more money in his pocket sooner.
Yesterday, I detailed why I cancelled my ILP despite suffering a high 4-digit sum for early termination. It was a mistake I made as a financial noob years ago, when I was so focused on doing well in my first job that I didn't really think about anything else.If someone tells you to buy an ILP because you know you're not good at investing anyway and it will be better to leave it to the experts....don't believe them.
Today will be my last day as EP, and I just wanted to say thank you to all of you who have shown me encouragement in one way or other - this week has really spurred me to keep on writing and sharing my knowledge on personal finance and investing with you guys!My ultimate dream is to become a published author someday, and I hope that through my words, the world of finance becomes a little easier for you guys to understand 😊 that's a dream come true for any writer!
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