Double your savings in 5 years?
Is it possible to double your savings without you doing any work? Cumulative savings. You must have heard this a thousand times if you were ever approached by a financial consultant or an insurance agent before. But how true is it? It is definitely true with the risk factors of course.
In fact some of the investors could help you double your money in just 1 year. High risk, High returns. But then it could be High Losses if you let the wrong person invest your money. You might lose the whole amount invested…
Are you willing to take the risk? Fore go your 0.25% guaranteed returns (For Singapore Banks) offered to you and take the risk of receiving 25% returns instead? I know most of them work like a Fixed Bank account. You won’t be able to withdraw your initial deposit for at least 3 years or so and continue paying the premium for the next 5 years.
| Year | Contribution in January | Possible Earnings by end of December(25% profit) |
| 2008 | $1,000.00 | $1,250.00 |
| 2009 | $1,000.00 | $2,812.50 |
| 2010 | $1,000.00 | $4,765.63 |
| 2011 | $1,000.00 | $7,207.03 |
| 2012 | $1,000.00 | $10,258.79 |
That’s how much you can earn in 5 years. Saving of $5000 doubled to more than $10,000. Provided there are no hiccups that is. If you invest in big financial organization, chances are you won’t receive 25% offer but your investments won’t disappear without your knowledge either. 
They usually give a guaranteed return.
I advise those that wants to try this out to use your spare cash that you don’t mind losing (I know, its crap. Everyone mind if they lose their money without gaining anything else in return. =x) Short to say. Don’t try this kind of investment if you have to end up eating grass for the next 5 years. It’s not worth it.
Counting my cents,
Deen Yusoff
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[...] unknown wrote an interesting post today onHere’s a quick excerptIs it possible to double your savings without you doing any work? Cumulative savings. You must have heard this a thousand times if you were ever approached by a financial consultant or an insurance agent before. But how true is it? … [...]
I found your site on technorati and read a few of your other posts. Keep up the good work. I just added your RSS feed to my Google News Reader. Looking forward to reading more from you.
Allen Taylor
Thank you for the compliments Allen.
Will try to keep it interesting for all. 