Nexus International School Leader Saves Her Faculty Tens of Millions of Pounds

 

Last year, a financial salesperson attempted to breach the faculty at Singapore’s Nexus International School.

He wanted to sell contractual savings schemes, such as the kind I outlined in Millionaire Expat. He reached out to one of the school’s administrative leaders.

She forwarded his intention to the school’s faculty.

At that point, she received various emails saying, “No, don’t give this guy access to our teachers.” That school leader was Judy Cooper. She then took the next step.

She researched. And she said “no” to that financial salesman.

Judy’s research collectively saved her teachers tens of millions of pounds. That might sound dramatic.

But long-term contractual savings schemes provided by firms such as Zurich International, Friends Provident, Generali International, Royal London 360 (RL 360) and Royal Skandia (Old Mutual) have virtually no chance of beating inflation over a period of 10 years or longer.

They pay huge commissions to the people that sell them, and they lock teachers in for long periods of time, penalizing them heavily if they withdraw.

In short, they legally rob expats of strong financial futures.

I spoke at the Nexus International School in Singapore last night. I take my hat off to educational leaders like Judy Cooper (who, incidentally, now has a portfolio of ETFs with the help of PlanVision’s Mark Zoril). In turn, the teachers at Nexus are looking after one another. Thank you Judy Cooper.

And thank you, teachers at Nexus. I know that you’re prepared to help and protect the new teachers that arrive at your school next year.


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andrew hallam

I’m a financial columnist for Canada’s national paper, The Globe and Mail, as well as for AssetBuilder, a financial service firm based in Texas. I’m also the author of Millionaire Teacher: The Nine Rules of Wealth You Should Have Learned in School (2nd Ed. Wiley 2017) and The Global Expatriate’s Guide To Investing: From Millionaire Teacher to Millionaire Expat (Wiley 2015). My mission is to educate, motivate and inspire people on basic retirement planning and best practices for investing, using evidence-based strategies. I'm happy to comment on your questions. However, please read the Terms of Use, Privacy Policy and the Comments Policy.

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