[Advice needed] Am I investing a lot for a person at 26 years old ?

Good evening seedly folks,

I would like to get some advice from the group members.

I'm currently 26 years old and due to my chronic disease, I'm unable to get insurance plans. I'm going for the long term plan that explains ilp plans.

Some of my basic financial info / investing -

1) pulsar - $700 / mth

2) manu investready $800 / mth

3) ssb - 10k lump

4) self investing - 10k lump

5) syfe - $750 / mth

6) endowus - $1000 / mth

I'm investing alot for my age?

Discussion (11)

What are your thoughts?

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Eiscue

02 May 2023

Wow, good to see that your portfolio is strong and well planned at your age!

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Choon Yuan Chan

02 May 2023

Decent amount, but not a lot in my view

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Ga ming

19 Apr 2023

As with any investment, there is always a risk of loss, and it's important to carefully consider your investment goals and risk tolerance before investing with a robo-advisor or any other investment advisor.

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I.L.

18 Apr 2023

I suggest to stop buying ILP. You must understand that since you don't have insurance and you have chronic disease, then it is highly likely for you to need instant cash to pay for medical bills. ILP money are locked up for way too long and inaccessible.

Thus, this means that you need to allocate more money to emergency funds than other people. I suggest you should put maybe 1 year salary worth of emergency fund into a high interest saving account, such as OCBC 360 or UOB one.

Investment wise, if you can DIY, try using interactive broker. You can invest into stocks, etf, funds and bonds at generally cheaper rate than using endowus and syfe.

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