Read? insurance - enhanced endowment policy suck! - Part 1
I have three endowment polices, one for each of the three kids. The first endowment for 1st kid matured on last Oct 2009 and the annualized return is 1.64% after XX years with XX insurance co and far away from the projected value.
The second one will mature in Nov 2010. Let see how bad the annualized return will be?
The third one will mature in Mar 2016 for the youngest kid who is now in Sec 3.
At that time, I was a dumb investor and low in FQ and probably that investment decision made was really the right fit for a dumb investor. That is the price I paid for a peace of mind.
Is this really a peace of mind? It has fell far short of the projected value. What if that is the only fund I have? Will I still have a peace of mind?
I have repeatedly remind my kids not to discuss with any financial advisers when they start working next time but get the financial advisers to talk to me first as I am no longer a dumb investor with low FQ.
There will be plenty of tough questions to grill them and then I shall walk away after some free coffee and may be some finger food too. So shiok!
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