All posts tagged Financial advice

Are Property Agents Qualified to offer Financial/Investment Advice?

Posted on Dec 17, 2014 in Articles, Singapore Property Investment by 0 Comments

Recently, I chanced upon the blog site of a local property agent. She wrote an article dated November 2013, “Learn How You Can Own 2 Condos with $0 cash of your own!”

In her blog, she shared “investment wisdom” how home owners can monetise their lock-up profits from current home which has appreciated greatly, subsequently purchase 2 properties and attain financial freedom.

She advertised herself as a property agent and posted several other articles/videos how to invest in property in a “low risk way”.

The agent has a video in her blog which showcase her as an “expert” investment speaker/trainer, sharing her 4-step investment system to a large group of audiences in what look like an expensive ballroom. And she claims on her video, “I’d like to show you an effective system to generate consistent & passive source of income. A system that is not only powerful but so simple that even a child knows how to manage it.

What you should do if you hit the jackpot?

Posted on Apr 2, 2012 in Articles, Financial Freedom by 0 Comments

There was an article written recently in the national newspaper dated on 18th March, 2012, The Sunday Times under the invest home page, “What you should do if you hit the jackpot?”

The author/article offered 3 ways to handle a sudden huge sum of money (from lottery, inheritance, etc) with the advice of a ‘well-known financial planner’, who is a MD of a local financial advisory firm.

First, pay off all your debts (including your outstanding mortgage on your home if you have one)

Second, get yourself a house and pay for it in full.

Thirdly, start a retirement fund or expand one, by setting aside the rest of the money with a credible financial planner.

In short, what this financial planner is saying is , ”If you have a million dollars today, pay off all your outstanding debts including your home mortgage so you’ll be totally debt-free and leave the rest of your money with me in a mutual fund…and you can continue to slog hard at your job without any debt worries.”

This is one of the worst financial advice I have heard coming from such financial planners or ‘experts’ who deemed to know what true wealth really is, which in fact, many don’t.