07 Nov 2019
25 year old fresh grad, self employed, I was wondering if there’s an alternative method for me to grow my money in the short term to save up for my housing needs over 5-10 years time?
Hello, I am a fresh grad and have just started on my commission-based job (FA), and my job is considered self-employed so there’s no CPF contribution from my part for now, and I was wondering if there’s an alternative method for me to grow my money in the short term to save up for my housing needs over 5-10 years time.
There are plenty of safe ways to invest your money and have it grow. You can go for REITs, other ETFs and bonds, but before you do that, I'd suggest you read up as much to understand what a Robo-advisor really does. Robo-advisory platforms assess your current financial position and recommend a portfolio strategy after reviewing your risk profile. These bionic advisors are still not very different from your ordinary financial advisors as both options will still have a management fee incurred for users. The difference lies with the amount, as Robo-advisors have lower management fees. And the best part is that they give you the most unbiased advice.
You can read here for a better understanding.
I work at kristal.AI, and my mojo is to help people make the right financial decisions. If you think I helped you, do give me "Thumbs up". If you think my response was biased let me know, I will work on it.
I hope this helps you make the right decision.
Dude, you're an FA, you should know these things.
While many have already provided good alternatives, I would instead suggest you to focus more on producing more and improving your skills as an FA.
You can focus on saving money or making more. I always choose to focus on making more. And you are in the best position to do that literally overnight. Sales.
All the best friend and good luck on the career, we need more good people here. Start contributing more on Seedly as well. ;)
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Safer choices. Ssb will be perfect for the 10 year duration. Same can be said for high interest yiel...
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