tell u leave money in cpf dun listen. see lah, now lose all 1.15m. song bo?

[kaninabuchaojibye]

https://www.straitstimes.com/singapore/courts-crime/retiree-sues-uob-over-115m-in-investment-losses

Retiree sues UOB over $1.15m in investment losses

A 72-year-old retiree is suing United Overseas Bank (UOB) and a former relationship manager at the bank after suffering losses totalling $1.15 million.

Madam Tan Swan Choo said she was deceived by Mr Keigo Lam Yew Kai into believing she had put her money into investment vehicles sanctioned by UOB, when they were in fact unsecured loans to Broadwell, a company incorporated in the British Virgin Islands.

At the heart of the case is a dispute over whether Madam Tan was a naive retiree who was tricked into making unwise investments, or whether she was an experienced investor who knew exactly what she was getting into.

Mr Lam, 36, was assistant vice-president of UOB's Privilege Banking team when he first met Madam Tan some time in January 2018.

 

[syed putra]

Sounds like fraud to me.

 

[laksaboy]

'Relationship managers' at neighbourhood banks look at old folks like wolves looking at sheep. Be alert, and if possible always escort your old folks if they need to go to a bank.

 

[kaninabuchaojibye]

Sounds like fraud to me.

where got fraud
more like tio sian by all these relationship manager
same like insurance agent
scums and vermin

 

[millim6868]

This retiree is greedy n expert in investment ,everyone experts profit when they invest , CB thinking money drop from sky, everything got risk , if bao chiak i go find ah long loan money go invest sure win, siao

 

[Porfirio Rubirosa]

From what I read in the ST article, strange UOB deny sacking this pm chap and that he resigned later. If the pm chap was hawking unauthorised investment products he should have been sacked.

That said, this old lady also greedy.

 

[Scrooball (clone)]

Old lady confirmed greedy la. Cheebye thought she is going to live forever is it? Want so much money can bring inside coffin?

 

[sweetiepie]

KNN lansai lah the lumber of tam chia ter nao sinkies is way too many KNN at least 90% of people encircling my uncle daily are also rike this regardless of age educational level gender race KNN

 

[sweetiepie]

Old lady confirmed greedy la. Cheebye thought she is going to live forever is it? Want so much money can bring inside coffin?

Yes indeed KNN many people both the leech and poor are too engrossed with money until they forgot human has a leemited lifespan KNN

 

[sweetiepie]

Yes indeed KNN many people both the leech and poor are too engrossed with money until they forgot human has a leemited lifespan KNN

KNN especially those already above 70 and still doing investment and buying life insurance etc KNN the yields dividends etc only just right to spend in the afterlife KNN

 

[Scrooball (clone)]

When u are fucking older than 70 years old, and you still want to invest, u better get your brain checked!

What’s your time horizon? Keep the $1 million and slowly spend and die at about 80 is better right? Wouldn’t it make more sense? U wanna spend your last remaining years thinking.... oh shit is my investment losing money?

It is true.... when u get old, your brain stops functioning!

 

[syed putra]

Guess the race.

 

[eatshitndie]

if she were to invest in tsla, aapl, and ilmn 6.9 years ago, she would have enjoyed a windfall of over $6.9m today.

 

[face the facts]

[QUOTE
When u are fucking older than 70 years old, and you still want to invest, u better get your brain checked!



well said!

 

[Scrooball (clone)]

if she were to invest in tsla, aapl, and ilmn 6.9 years ago, she would have enjoyed a windfall of over $6.9m today.

yeah what if she had invested in Bear Stearns or Enron? Lol

 

[eatshitndie]

yeah what if she had invested in Bear Stearns or Enron? Lol

those were long gone, luckily for sinkies.

 

[Balls2U]

I have been approached by so many young punk bankers who tried to talk me into investing. I simply tell them off on their face saying that it's all a con job and that I can make 3-5 times more than what they're offering by putting my cash elsewhere.

 

[Leongsam]

When u are fucking older than 70 years old, and you still want to invest, u better get your brain checked!

What’s your time horizon? Keep the $1 million and slowly spend and die at about 80 is better right? Wouldn’t it make more sense? U wanna spend your last remaining years thinking.... oh shit is my investment losing money?

It is true.... when u get old, your brain stops functioning!

I have to defend the 70 year old investors here. I can speak on their behalf because reaching that age will be my next big milestone.

My total expenditure for my current lifestyle is close to $200,000 annually. That's $2 million every 10 years not counting inflation.

If I don't bother using my assets to generate a decent return I will have burned through $4 million before I am 80 and that will put me in a pretty precarious position when old age really sets in.

I don't know what the situation is in sinkieland but over here in NZ there are many 80 plus cyclists who are still competitive in their age groups. They aren't lying in bed in some rest home waiting to die.

There is one I know personally who spends every summer touring Europe on his bike (this year being the exception of course). He has a home in Nice and is enjoying life just as much as any 30 year old would.

Sound financial management is a necessity at any age unless, of course, you are in the multi-billionaire category and you can afford to give 90% of your wealth to charity and still have enough to keep you going in the manner to which you are accustomed.

 

[Scrooball (clone)]

When u are fucking 72, do u really want to spend your last few years worrying about the performance of your investments? If yes, then u deserve to lose everything.

There’s a time and place for every stage of one’s life. Yes, there’s such a thing as “too old for this shit”!

 

[kaninabuchaojibye]

I have to defend the 70 year old investors here. I can speak on their behalf because reaching that age will be my next big milestone.

My total expenditure for my current lifestyle is close to $200,000 annually. That's $2 million every 10 years not counting inflation.

If I don't bother using my assets to generate a decent return I will have burned through $4 million before I am 80 and that will put me in a pretty precarious position when old age really sets in.

I don't know what the situation is in sinkieland but over here in NZ there are many 80 plus cyclists who are still competitive in their age groups. They aren't lying in bed in some rest home waiting to die.

There is one I know personally who spends every summer touring Europe on his bike (this year being the exception of course). He has a home in Nice and is enjoying life just as much as any 30 year old would.

Sound financial management is a necessity at any age unless, of course, you are in the multi-billionaire category and you can afford to give 90% of your wealth to charity and still have enough to keep you going in the manner to which you are accustomed.

Have you ever thought that you are the exceptional 5% to 10% of active aging individuals? That old lady is just an ordinary soul, unlike you.