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Hi,
I think it would be interesting to know how many of us in this forum engage a personal financial planner to plan for your family and how many does not?
Can you also specify why you decided to go the D.I.Y. way or engage a planner?
For my case, so far I have done it myself D.I.Y following financial planning books, but I somehow you have this nagging feeling to go to one, but talking to people who have gone to one, they seem to be doing the same things I did.
So what about you?
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I engage a financial planner who is an insurance broker, just for insurance needs only. This includes term insurance and disability income. For H&S I use another agent from Great Eastern.
As for savings, I DIY. For investments, purely DIY too. For retirement planning and saving for child's education, fully DIY as well!
Hope this helps.
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Financial Planner = Insurance Agent..
U need insurance to safeguard your wealth against unforeseen event...
But to grow your wealth, u need to do it yourself...
Need to determine a balance between the 2 because both needs MONEY !!!
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I diy for all money matters except for insurance, which I used to depend on insurance agents to advise. Till I read the sticky thread on insurance especially many of d.o.g.'s postings, I decided that probably my present coverage wasn't for the best and I decided to review all my existing policies.
So... in the strict sense, its still better to rely on oneself since who else is interested in your money and well-being but you?
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Agreed MW.
A big thanks to d.o.g. from me as well for reinforcing the fact that the importance of insurance should always predominate over investment, I guess this is "looking after the downside" in the simplest form but I failed to do that until now.
MW, I reckon the 4 policies that you dropped are contracted pretty recently? (including your wifey's)
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Not so recent.
My wife's policies were signed in 2004, while mine were signed in 2006.