Do you know that you can invest in Unit Trust Investment scheme to meet various financial objectives? Do you know how?
For the purpose of learning, i have created a scenario as follows. Assume En Wong (40 years of age) has a mortgage loan of RM 210000 taken in early 2011 and he wants to settle his mortgage loan 8 years from now. His household disposal income is about RM 1300 and he parked it in a FD account.
He does not know how much he will owe the Bank at the end of year 8 before settling all his balance, so he ask you to advise him.
I have made few assumptions in my working and made a short simple financial plan for him that you can view HERE
In case if you want to view En. Wong's amortization schedule, please view it HERE
Unit Trust investment scheme can be used to meet financial obligation of mid to long term period and it cannot fulfill objectives that are short term in nature.
Is it a horse or a seal?
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