Grow your wealth with a passive income stream from FX bonds
It is hard to predict when life will throw you a curveball. Unfortunately, more often than not, you might end up discovering that you’re not quite as prepared as you might think.
Living in a fast-paced society such as here in Singapore, which also happens to be the most expensive city in the world, it is no surprise that we sometimes unconsciously neglect our state of health and lack some semblance of a work-life balance.
So what happens when fate strikes you a cruel blow? Would you be mentally strong enough to overcome the challenges that lie ahead? And even if you did have the mental fortitude, would you then have enough funds and resources to tide you over such trying times?
We would like to share with you the tale of 60-year old Madam YC Chia, who had to endure such a difficult period in her life.
Cruel twist of Fate
Madam Chia was always a high-flyer growing up and as a result of her talent and hard work, as an adult, she found herself holding various well-paying top-level positions in the private sector.
Unfortunately, in 2014, she suffered a stroke while at work. She ended up being hospitalised and after her initial treatment, she had to go through numerous follow-ups and rehabilitation therapy. The stroke had a critical impact on her physically. Although she did manage to get most of her locomotive movements back, her eyesight was very much affected.
As a result, this left her in dire straits financially, as she not only had to pay for the on-going treatments, but she also had no source of income since she was not well enough to continue at her previous job.
At that point of time, there was nothing in her investment portfolio that could help remedy her financial needs. It was only later on when she came across a financial advisor from Furong Investments that a solution for her plight emerged.
Finding the right solution
Having done a thorough analysis of Madam Chia’s financial situation, Furong Investments advised her to take up their FX Bond. As the name implies, this bond is a high-return, low-risk bond that ensures a consistent fixed pay-out on a semi-annual basis.
This product would ensure that Madam Chia would be able to receive a sufficient and regular passive income to cover her needs. It effectively allowed her to retire without worrying further about finding a steady stream of money to cover her various expenses going forward.
As Madam Chia herself explained, “Before I invested with Furong, I have had many bad investment experiences.” We at ZUU sat down with her to learn more about what sets Furong Investments apart.
ZUU: Madam Chia, thank you for making the time to share with us your story. We’re glad to hear that Furong’s product has helped you with your financial troubles. How would you say this differs from your other investments in the past?
Madam Chia: Before Furong came along, I have dabbled in other financial instruments but the performances of those products have always been unsatisfactory.
For example, I had invested in unit trusts but some of the drawbacks with these types of products are that the underlying assets that the unit trust is invested in is often unclear and also the price tends to fluctuate, making gains tricky to realise. Furthermore, there are additional fees such as sales charge which also cuts into any potential profits. Add all this up, and it is actually no surprise that it was tough to get a good return on my investment.
It also certainly did not help the situation that my bank did not try to keep me updated about my money or inform me about what was going on with my portfolio.
One day, I found out about Furong Investments and decided that I would like to give them a try and see if they could produce a better outcome in terms of returns.
Fortunately, this time, it worked! I had 6% returns in the first six months alone. Although the Furong 2.5 years bond typically pays out semi-annually, the investment team at Furong tailored the solution to cater to my personal situation by structuring the FX bond product; such that, by staggering it, I could get money coming in on a monthly basis instead.
The returns have been sufficient for me to lead a comfortable lifestyle. Furong made sure that my returns matched or even surpassed the salary I received from my previous job. This really made a crucial difference to me since I now have to bear higher medical costs.
Furong even went the extra mile by asking me – which no financial advisor had ever done before – what my financial commitments were exactly (e.g. church contributions and medical bills). This was when I realised I could trust my money with the Furong team. They didn’t expect me to stop my commitments even after I retired and ensured that I could still sustain a similar lifestyle as when I was still healthy and working.
I also felt that this proprietary product from Furong was right for me, as it is especially effective from an income replacement standpoint since it bears lower risks. The only significant risk element I can think of is the USD exchange rate. But then again, which investment is perfectly risk-free? Also, importantly, the Furong team practices transparency when dealing with client’s money, so I was constantly kept in the loop of what was happening with my investments.
ZUU: Do you have any other current investments apart from this bond?
Madam Chia: I still allocate some of my capital in some shares, insurance policies and unit trusts. However, due to my age, I am trying to minimise high-risk investments. But Furong’s product is my main income source and one that I would recommend to others to give a try.
It isn’t just the product that has put my financial situation at ease. I would also credit the team at Furong for providing me with honest advice and consultation, as well as having lots of patience with me. I could have bought the same product elsewhere, but without a proactive team to help plan the product such that I get paid out every month, I probably would not feel such at ease.
ZUU: What are some lessons that you have learned about investing?
Madam Chia: I feel that when you plan to put your money into an investment, trust is very important. Only invest your money with someone you trust! Really make sure you trust the right person when it comes to your money and investments. I think that truly finding someone who is genuinely concerned with your welfare is really hard to come by, especially in the financial industry.
Don’t just go with financial institutions that spend a lot on marketing and advertisements. Instead, choose someone who doesn’t stop ignoring you or caring for your needs after you’ve already signed a contract or bought a product or service from them.
The team at Furong Investments might not be so well-known but from my personal experience, they still have a lot of care and concern for me on a professional and personal level even until today.
Are you moved by Madam Chia's story? Find out how Furong Investments can provide a financial hedge over you and your loved ones.