Anonymous
What are some things I should keep in mind?
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Andy Sim
06 Mar 2020
HR Professional at a Financial Institution
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Rais M
06 Mar 2020
Accountant at SME
The first and most important thing is to save up for your emergency funds of 3 to 6 months worth of expenses. At the same time, as a fresh grad, it is also time for you to consider getting insurance to protect yourself and your family.
Once you have your emergency funds, you can start preparing your capital for investment. You can start slow by investing in ETF and SSB. Once you are more familiar with investment, you should learn how to research and pick stocks that suit your financial goals.
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Always do your own due diligence and research before making any investment decisions, avoiding hearsay or stock recommendations can save you from making some mistakes investors make as you start out.
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Before you go and invest in anything, you should go read up either online or head over to the library to borrow books about investing. Next, you should have a certain sum of money set aside for expenses and savings and the rest could be used for investing.
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You could catch some ideas in this compilation of me, but always think for Yourself:
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1) Save up your emergency funds, typically 6 to 12 months of expenses.
2) Protect your downsides by buying insurance: Health and Life insurance
3) Read up more about investments and understand your risk profile and the different types of investments. I find this article by The Fifth Person useful: https://fifthperson.com/how-to-start-investing-...
4) To further your knowledge and fast track your learning, do consider signing up for investment courses like Dr Wealth or The Fifth Person. The course fees may be steep if you have limited capital but the contents and value you get from it should be well worth the money spent. You can always make or earn back the money but the knowledge sticks with you throughout.