Anonymous
19 year old beginner with about 7k in savings and $150 in Syfe. Should i dump 65% of my 7k in equity 100 and wait out 5-7 years and keep the rest in a high yield savings acc?
I just signed up for Syfe and have $50 each inequity, REIT risk managed and global ari but i realised i wont be getting savings every month (maybe save about $50/month?) so would it be okay to just throw 3k all into equity100 and 1k in growth/balanced core since i wont be purchasing any big ticket items for the next 5-7 years?
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Kylie Ng Kai Li
08 Jun 2021
Senior Premier Consultant at AIA Insurance Pte Ltd
Hi, would still recommend you doing DCA on a monthly basis. Instead one lump sum or just $50 into each portfolio, you can consider increasing the amount that you are putting inside each portfolio on a monthly basis.
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Baby Steps Finance
05 Jun 2021
Seedly Student Ambassador 2020 at Seedly
I would reccomend that you think about any big spending you are going to have to contribute in the n...
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I'd recommend you ensure you have sufficient money as emergency funds and invest the rest. Generally speaking DCA vs lump sum investing doesn't quite make a difference if you're in it for the long haul.
Have a watch of this video here. It's really quite a good summary I feel.
https://www.youtube.com/watch?v=fd5y1I_41rE