17 Jul 2020
Taking into account the 30% withholding tax as well as brokerage fees. What would be the least amount (in SGD) I should have in order to even start investing? I’m having some difficulty doing the calculations.
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17 Jul 2020
Founder at Re-ThinkWealth.com
As a general thumb, USD 5,000 is a good start to be honest.
Do note that in US, you can buy as little as 1 stock and using brokerages like IB, the commision is pretty low.
Especially if you buy and hold like me.
Hello! You should try out Kristal, as they have no brokerage fees for the first 50k usd. As such, the minimum you would need is just the minimum fee they require for each ETF. For exposure to US stocks there are many options such as SPY, which has a minimum investment of ~310USD, which I guess you can put in 450SGD in the account to be safe. If you are looking at ireland domiciled etfs instead (to have 15% withholding tax) they have a much higher minimum investment at ~3.1k USD (so 4.5k sgd to be safe). As such, you may want to look into investing in either SPY or VOO first (both have roughly the same minimum investment).
05 Jul 2020
Development & Acquisitions Manager at REPE Firm
I think what you're referring to is how much is required to buy into these shares right? It would depend on:
1) Qty of shares purchased (US = min. 1 share but depending on broker, can be fractional shares
2) Commission of the brokerage firm (calculate your buy + sell fees to get a rough idea how much you need to breakeven / profit)
Tan Wei Ming
05 Jul 2020
Founder and Writer at Frugal Youth Invests
The rule of thumb is to ensure that you have at least 6 months of expenses as your emergency fund. Personally, I will set for myself a higher target such as at least 12 months of expenses. You also need to take into consideration whether you have regular and consistent inflow of cash each month so that the investments will not affect your personal life. Lastly, you have to ask yourself whether do you have a sufficient insurance coverage. This is more important than starting investing.
U can consider syfe new 100% equity portfolio. The portfolio consist of invesco QQQ etf which has Ap...
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