First of all, I would like to thank everyone for their good posts - and advice. I've been reading and learning a lot here.
I currently live overseas and right now all of my money is in cash - and I'm looking to get started. My knowledge is pretty low, so I was wondering if the community here can make sure I'm on the right track. Some details, I was speaking to a financial advisor and he recommended that I look into ways to manage my funds ( He gave me two options - one an offshore pension scheme, the second a managed portfolio option)
I'm kinda weary - as there are great threads here on why Offshore Pension schemes are a horrible idea. (and it makes me question anyone who would recommend this in the first place) My job is high pressure and very long hours so I'm thinking about the managed portfolio option.
Key points about me:
l live in Asia, and would be looking to invest for about 20 years before retirement.
The managed portfolio was an initial offering was where I deposit a lump sum, and they take a 2% cut off the top. With a yearly management fee of 1.5% taken quarterly. The idea was to make small monthly deposits of 2-3 K (which would then incur a 2% take as well)
I want to learn more - and self manage, but I know I don't have the time, and I'm thinking this is a good way to start and forget it, then when I have more time (and more comfortable) be able to do more independently.
Am I on the right page here? we all need to start somewhere.
thanks in advance, and I apologize if I have some of the terminology wrong.
JR