Before your start investing, it will always be helpful to go back to the basics - understand your cashflow. Here is some basic information: https://www.blog.pzl.sg/understanding-your-personal-cash-flow/ Next, ensure that you are properly insured especially in terms of healthcare insurance. While we chase after our financial goals, do not forget the engine of this race - which is you! Thereupon, ensure that you are adequately covered in case of any health changes. Everyone wants to be healthy, but life is unpredictable. Thereafter, keep what you need in the bank, which is usually about 3 to 6 months your monthly expenses (as explained in the link above on understanding your cash flow). For the money that you can 'afford to lose', this money can be invested. This is simply because investment returns are non-guaranteed. Now, it depends on your investment objective and how long you intend to stay invested. For instance, one of the objective could be for the kid's education. As a result, you may wish to consider an endowment policy or to invest through an insurance company. This is because in the event that either or both of you passed on, what will happen to your invested money? Through an insurance company, it helps to protect the welfare of the child in a simplified manner. Of course, if you choose to do DIY investing, ensure that you set up a Trust and/or draft up a Will. Here is some information on the latter: https://www.blog.pzl.sg/what-is-a-will-singapore/ For both of you, the goal may be to create a stable stream of passive income for retirement in 10 years' time. To do this, we will split your money into various instruments, e.g. bonds, annuity, ETFs, blue chips, as well as unit trust. All things considered, the objective may be to build a well-diversified financial portfolio that covers all the financial gaps as well as the money that you all need for the rest of your life. One example could be to build a step-up annuity - where the guaranteed payout increases over time. Not only does this hedge against inflation, it also helps to cover fixed expenses over time. In another portfolio, it could be to adopt the concept of dollar cost averaging and invest in certain ETFs or unit trust. All in all, all these help you to build a well-diversified portfolio on an aggregate level for various purposes. Feel free to drop me a coffee invite if you need more details or for a comprehensive financial portfolio planning: https://www.work.pzl.sg/#coffee Here is everything about me and what I do best.