There are no bad financial products. Only products that are used wrongly. When you try to force fit a product or financial service to fulfil a need it was not intended for, it is likely to fail. It is important to understand the features and suitability of a product and map it to your needs and preferences to get the best out of it. Here are some common product misuses that you need to watch out for.
Duration of product vs need
When your efforts to save for long-term goals, such as the children’s education and retirement, do not seem to be making much headway, it is a cue to check how the funds are being held.