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ASSI's Guest bloggers

"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.
Friend:
So, how is your investment in Japanese apartments now?

Me:
Oh, you mean Saizen REIT?


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


Me:
Gone already.


Friend:
Gone?


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


Friend:
Sounds like you made money!

Me:
OK lah.


Friend:
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.

Me:
That was many years ago. How is it?


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


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


Friend:
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.


Me:
..................


Friend:
Now, you got any other money making lobang?


Me:
I have some investment in Japanese shopping malls.


Friend:
This time, I am going to invest.


Me:
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.


Friend:
...................



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.

2 comments:

anon 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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