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"Insurance agent helped himself to my money."

Monday, July 10, 2017

Recently, I met up with a friend whom I have not been in touch with for a few years and, inevitably, we also talked about money matters.

Mania over Chinese art. Huh? I blur.
So, how is your investment in Japanese apartments now?

Oh, you mean Saizen REIT?

Ya, you asked me to invest in this that time because it pays good dividends.

Gone already.


Ya, they sold all their assets to an institutional investor.

Sounds like you made money!

OK lah.

So lucky. That time I should have listened to you. Shouldn't have listened to my brother's insurance agent and bought the investment from him.

That was many years ago. How is it?

I got fed up with it and sold it at a big loss.

But you said that guy is very smart and can help you with your money, right?

My brother say one, not me. Ya, very smart but not to help me with my money. Smart to help himself to my money. He left his job liao.


Now, you got any other money making lobang?

I have some investment in Japanese shopping malls.

This time, I am going to invest.

But it is being sold to another institutional investor too. Not confirmed but it could happen in the next few months and the share price has shot up quite a bit by now.


The mood was gradually getting a little bit too heavy for my liking. So, I changed the topic.

My friend regrets investing in something and not investing in something else but is he really an investor? I wonder.

Related posts:
1. How many $29,000 do we have?
"Every year put in money. 20 years..."
2. Bought ILP from a friend.
'...if I cancel the plan now, I (lose) the money...'
3. Saizen REIT.
The investment was a good fit for my motivation.
4. Croesus Retail Trust.
Of course, being paid while waiting is not a bad deal.


jojo said...

Rule No.1 : Buy only plain vanilla insurance policies from insurance agents. Never buy investment-linked insurance products from insurance agents.

Rule No.2 : Remember Rule No. 1

AK71 said...

Hi jojo,

Indeed so. :)
Term life insurance: Why buy term? How big a sum should I buy? How long a term should it be? How much does it cost?

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