I agree with both of you on this. The product is really similar to an annuity you purchase for a set value at a given interest rate and repayment on a monthly basis. I had one set up for my late wife with Challenger which IMO offered reasonable returns at the time. The major problem is that banked backed 6 month cash investment accounts are only now paying 0.1% I have two for a total of 100K with Westpac and I can tell you that the yearly returns does not pay for an average case of wine!!! So yes, I have initiated an investment in FuturePay; as I considered after some research and consideration that it would give me a reasonable return on my capital with a commensurate degree of security of income as with an annuity.!! In this way my capital is not wasting away in a bank account, albeit the absolute security that this provides. I think what we need is a separate forum entry for FuturePay on HC
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
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