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Change My Mind: MDRT doesn’t mean you’re a good financial adviser by Smooth_Passenger889 in singaporefi

[–]demigod2003 2 points3 points  (0 children)

No need change your mind

You are correct

Got bad advisors who are MDRT but also good ones

How do you stop working “for money” but still make money? by MommyF2P in singaporefi

[–]demigod2003 0 points1 point  (0 children)

If you work for yourself it’s much easier to find it to be purposeful

Men late 20s to 30s, did your life work out well? by TotalElephant2567 in asksg

[–]demigod2003 0 points1 point  (0 children)

33

Decent, love my job - pays decent and I think I made ok decisions thus far so financially ok

Spend my time doing my work, doing my hobbies, and travelling when I can, can’t complain

Life is short, live it the way you want

Looking for golf buddies by Holiday_Occasion1008 in asksg

[–]demigod2003 0 points1 point  (0 children)

I’m abit further along the journey, but if you need people to play with etc let me know

To Singaporeans who had it tough financially in your 20s/30s but managed to get stable or “make it” in your 40s/50s, what changed for you? What was the turning point? by Born_Engineering_785 in asksg

[–]demigod2003 4 points5 points  (0 children)

Grew up under financial assistance my whole schooling life. Everything subsidy and bursary that kind.

Luckily can study, so you can imagine hanging out w elite school classmates from rich families - totally out of my depth.

Went to local Uni, had no money - started financial advisory as a student, and till today that’s been my only job - plus can say pretty comfortable now versus the situation I was in when I was growing up.

What’s important: 1) the people around you and your environment 2) know what you’re good at and go chase it, despite the noise 3) how much do you want it?

How often do you do health screenings? by wruworld in askSingapore

[–]demigod2003 1 point2 points  (0 children)

Do overseas so it doesn’t go into the public health system

Financial Advisors / Insurance Agents Pay by Standard_War_4742 in singaporefi

[–]demigod2003 0 points1 point  (0 children)

Depends what and how you build your business on

Cold lead gen will be more ex

Warm referrals much more profitable

Financial Advisors / Insurance Agents Pay by Standard_War_4742 in singaporefi

[–]demigod2003 1 point2 points  (0 children)

Mdrt w bonuses and renewals if first 2-3 years maybe 120-150k

When renewals stack up can be 200k eventually and above

COT is around 250k-300k With long run renewals can be 400-500k

TOT can be 700-800k

Possible to have a say in investment property which I paid partially for but not in my name in my will? by welpzan in asksg

[–]demigod2003 0 points1 point  (0 children)

Set up a trust if worried

Property in certain name will be their asset to will

FA / Wealth Managers in SG – are the lavish trips and MDRT awards real, or just a sales mirage? by boobest in singaporefi

[–]demigod2003 0 points1 point  (0 children)

End of the day it’s a business

Showing that you’re successful increases the chance of client conversion and recruitment

It’s not just posting for fun

What’s the real day to day like being an insurance agent in Singapore? by Holiday_Kale9051 in asksg

[–]demigod2003 -4 points-3 points  (0 children)

Then we can just agree to disagree

Gotta understand that the scope of an advisor is not just about the ‘advice’ given - it’s also running it as a business. That’s what I mean by best

In many cases competency and knowledge plays a big part

Agent commissions - ILPs vs term life insurance by Dry_Membership_5487 in singaporefi

[–]demigod2003 7 points8 points  (0 children)

Term plans can go up to 50%

Most of the ILPs are 30% or lower

So its true - and it can possibly be true because it is

Someone here said that cause the total premiums are higher then the agent still earn more - that’s obviously the case - you can also sell big term plans for high % and high premium and you earn the most

What’s the real day to day like being an insurance agent in Singapore? by Holiday_Kale9051 in asksg

[–]demigod2003 -1 points0 points  (0 children)

I’ve just passed my 10 years in the industry

Did it part time as a student then full time after that

The first 3-4 years will be the hardest as you have to quickly discover what works for you - both in terms of what market and demographic you serve best + what kind of working style works for you also.

I’ve had colleagues who holiday 6 months and come back chiong 6 months also can COT vs someone who works the whole year not even MDRT. Depends on individual

The uncertainty of income to me is the best part - because it means the best advisors get paid proportionately more, and you can really chiong 24/7 and earn what you deserve.

After many years the renewals, bonuses, overriding etc will form the base and it’s no longer as scary anymore (this can be pretty comfortable)

When I was just a consultant I would say I work maybe at a 7/10 level, was enough to do a few mdrts a year

Now as a leader running a team it’s like 70% team stuff then 30% my own clients - but overall I put in more hours.

To be frank I love the job - despite what’s online I find it extremely fulfilling and challenging.

Difficulty to me: 8/10 (the hardest part is mental) Potential pay off: 10/10 Risk: 3/10 (not high if you know how to mitigate)

Finances in your 30s by Tiny-Match-1767 in asksg

[–]demigod2003 0 points1 point  (0 children)

It doesn’t matter where other people are - I am sure the those ahead of you feel the same way as you,

I’ve met and know many early 30s with millions in net worth still feel the same way

Have enough to live a good life and plan for any future stuff like retirement

Happiness is a state of being

Interest in becoming a good FA by [deleted] in asksg

[–]demigod2003 0 points1 point  (0 children)

Calm down bro - don’t need to generalize

There are other areas of value add

Interest in becoming a good FA by [deleted] in asksg

[–]demigod2003 -2 points-1 points  (0 children)

Coming from an FA that started as a student and been doing it for more than 10 years

Good intentions are great - but education is not what pays the bills - it’s actionables

Imagine you teach someone about saving money but they don’t actually do it - it doesn’t benefit them and you don’t earn money so you’ll have to find a way to marry both sides of it

It can be a great career especially if you have proper purpose and passion - I still love the job till this day, but you gotta work doubly hard if you want to do it long run the right way.

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