Financial Advice 101

Get out while you can. If you can. Thats my advice.

As the financial turmoil getting worse, we start to think what shall we do now? We might think we are not affected. Wrong. Everyone will be affected one way or another.

We might not have any financial asset like shares and fixed deposit at financial institutions. But we might have assets in the form of retirement funds and properties.

If you have assets in retirement funds, better rearrange the asset allocation if you can. Say if you have your retirement fund allocated a substantial amount in high growth (ie shares), contact your fund manager now and instruct them to reallocate to govt backed securities. There is very high chance that the value of these funds will fall in the coming days as the fund managers recalculate the values of those assets.

Same with ETFs (exchange traded funds). Cash in.

I am not suggesting that you keep cash under the pillow. That would be risky proposition.