In finance (as in life I guess) I do not know why people ask AFTER the event is over.
You need to ask BEFORE you invest in say a ULIP (it is not so bad in a mutual fund, an exit is possible after one year, without load).
A ulip pension plan / a regular pension plan is a terrible thing to buy. Why? because the pension is taxable when it comes back to you.
Why does a bank sell ONLY a pension plan of a life insurance company? and not say a Templeton India Pension Plan?
Obvious right? 12% commission up front is too damn attractive…and sometimes the commissions can go up, up and into the stratosphere.
As a thumb rule when a bank offers a product, the best answer is NO. This is because they have TIED relationships and what they offer you is usually sub optimal. The relationship managers are under stress / duress.
Takes us long time back.
Ravana was waking up Kumbhakarna …and told him “Rama has come for battle, should we fight him?”.
Kumhakarna told R ‘Please tell me the whole story’. So Ravana told him…”there was this beautiful woman…I brought her here..and now her husband has come to fight’.
K laughed out loudly and said : ” You should have asked me BEFORE you brought her here, that you did not. Now you are telling me that you will not take the sensible option of handing her back to Rama and surrendering to him…so what are you really asking me?”
It is my duty to tell you that what you did was all wrong – you brought another man’s wife, you threw out your brother for giving you the right advice and now you are asking me ‘should I fight’ . Actually Ravana, if you remember your curse…you will die at the hands of a human..so here OUR DEATH has come, I will go there, fight, and die. Then you will follow me.
Exactly what I feel like telling my friends /clients / readers.
“Investing is a lot like sex. You need to know about the investing product before investing. Just like contraception”.
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