Forum Home
PC World Chat
Thread ID: 88695	2008-04-06 00:09:00	Investments - what would you do?	Greg (193)	PC World Chat

Post ID	Timestamp	Content	User
656324	2008-04-07 22:25:00	Only posted yesterday and all this advice!!!!!!!!!!!!!! Not a Disclosure Statement in sight. I wonder how fast some of these guys would disappear if you took their advice, lost all your money and then sued them for the advice they offered you. Get advice from a professional,...... No Disclosure necessary because none of us are selling our services, as Beeswax has pointed out. And you'll be aware that lots of "financial advisors" (who are often ex-life insurance salesmen) handed out Disclosure Statements and then promptly put their clients money into Bridgecorp et al...... Nothing wrong with the advice in your post, just remember that some "professional advisors" are slick willys. That is why I specified two choices as being trustworthy - that is really what any investor needs to know.	Winston001 (3612)
656325	2008-04-07 23:22:00	There was new law regarding disclosure on investment advice recently. From memory, Advisers have to disclose any possible (within reason) remuneration they could get from dealing with the person. People who aren't Financial Advisers are not legally allowed to give advice.	the_bogan (9949)
656326	2008-04-08 04:06:00	There was new law regarding disclosure on investment advice recently. From memory, Advisers have to disclose any possible (within reason) remuneration they could get from dealing with the person. People who aren't Financial Advisers are not legally allowed to give advice. Yet those who are "qualified?" to give advise end up giving the worst or wrong advise to people who are going to get hurt the most when the investment goes pear shaped. The best advice: be willing to loose what you invest and don't ever borrow money to invest. What you choose to invest in - that's up to you. I've had bad luck in years gone by but am currently very happy with what I have and what it is doing. I didn't get advice from anyone else about what I went for and info I used was based on my own research.	vitalstatistix (9182)
656327	2008-04-08 04:57:00	Talking about advisers, one of them I had contact with since I bought insurance and thought of investment - hey choose a risk level .. and hey in theory finance guys should be professional. So I got a few brochures, won't name the company. I then read more from the Consumer Institute and from people like Gareth Morgan and asked for the "Trust Deed", I was never provided with one. First they said, there isn't one, that this Investment Statement - aka, the glossy brochure had everything in it. I asked again, and he said he would contact the company and then never got back to me. He did leave a message on my cellphone re: the investments but never mentioned the word, deed, thus I didn't call him back. Its funny because, if you read the Investment Statement, it says, that the Trust Deed is available, I have read a few of those sections from diff companies and some are available for free, some may require $25 or such for it, some may charge 20c per the page. I used to have a small amount on one but I pulled out after a year into it, was a tad bit more than what fixed term investment was providing thou. Maybe 0.5% higher. Now I think: Buy/sell yourself i you know how. Or just use term investment. I was reading one of the deeds and I was surprised to find that it was written so technically that an average person cannot decipher but I found sections that by signing you give permission for them to invest the funds into the director's own projects by a certain %. Not on mine but Consuemr Institute did find some that says, it would invest into schemes like loaning your money to people who had bad credit history, ie., car loans and personal loans that they couldn't get from a proper bank. Re: insurance always ask for the projected premiums so you know what they may be like down the road. If you want insurance, get that, do not mix it up with investments. You are far better off with one that is insurance and get another for investment if you want that. For insurance, I went via heaps of research and contacting companies. I found that get it when you are young but not too young cos too young can also be $$$. Late 20s or early 30s are the best. Get it. Ask for a locked premium that does not increase over age. Also ask for non inflation adjusted policies. Some companies will say your cover will increase by 3% but your premium will as well - however if actual inflation does not you still pay 3% more to them via your fees. Some shrewed ones I found out after getting their projection is that, you may provide you 3% more cover but the premiums rise 3% at the beginning but a few years down the track it will rise more than proportional in the later years I found from 1yr to the next, it could rise 15%. There are a few that say, if you get to 80 or 100yrs old and still alive, they will pay your original paid premiums back to you (with no interest), while others will say we will still insure you but when you get to that age your premiums could go from $500 a year to say $30,000 - and if you say its too expensive, they just cancel your policy and you lose your cover. You have also lost all your premiums that you have paid to the company - other than having some comfort that you had insurance for that time being. For instance if you have a $300,000 lifecover or such.	Nomad (952)
656328	2008-04-08 06:02:00	Well, this is about insurance, not investment, but I heard warning bells when I read " non inflation adjusted policies." My father took out a life insurance policy when he married. Then he added another when his first child (me) was born. Those premiums probably took quite a chunk of his income in his early days as a low-level govt. employee ( known then as a "civil servant") But even when they became easily affordable, he didn't upgrade the policies. Much later, when his children were earning & his wife had built her own nest-egg, there probably seemed little point. But we found it ironic & rather sad that when he died, the policies which would've seemed like huge amounts of money when he took them out just about covered the cost of his funeral. Inflation may be low nowadays, but it still mounts up...	Laura (43)
656329	2008-04-08 06:22:00	Yeah I think its a bit of a gamble with inflation. In the past from what I understand yeah inflation was up there. These days it can be called more steady but cannot say for sure. Even if you do get inflation adjusted policies, the company would review thier premiums each 1yr or 2yr or 5yr - whatever the policy is. Inflation adjusted policies will cost more because they are adjusted but depending on the economic condition companies will find ways to max the benefits. The rate can be adjusted over time as economic conditions change. Their model of forecast may be more towards their favour than yours. So from another angle you can pay more so the company hardly loses out. With companies, you certainly don't get something for free. One person can be careful with their money, go for non inflation policy and put some money aside in fixed term investments. Don't go out and spend it all ...	Nomad (952)
1 2 3 4 5 6