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Alcander Seow
Environmental Engineer Minor in Business at Nanyang Technological University
Hi, before I enlist for my NS this year, I'm thinking of starting to invest for the 1st time, so to get used to the market. I'm looking toward long term investing, so prefer looking to invest in something that provides passive income without me constantly checking the market condition everyday. Any recommendations, & what books should I read to learn that investment method.
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thefrugalstudent
08 Mar 2021
Founder at thefrugalstudent.com
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The simple Bogleheads approach is what I encourage people to start off with https://www.bogleheads.org/wiki/Investing_from_...
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Randy
07 Mar 2021
Financial Analyst at
Investment philosophies - aswath damodaran
It gives you the big picture....
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Hi Alcander,
Talk about a headstart in life! Good job for taking the initiative to start investing before you even enter NS - the experience you'll gain will definitely be beneficial in the long run.
For a 1st time investor, I'd recommend starting with at least ETFs or Robos. The reason is that index investing is the easiest and most foolproof way to have success investing. Between ETFs and Robos, it really depends on how comfortable you are with investing. ETFs will require a bit more work on your part, in that you need to research which broker to use and which ETFs to buy. For Robos, you simply need to decide which Robo to use and your risk appetite. Robos are easier to get started with and are less intimidating, but you'll gain less experience in investing because nearly no decisions are made by you. So if that's something you're interested in learning, then I'll definitely recommend DIY ETF investing. Of course, you don't have to choose between the 2 - you can always try both at the same time and see which you prefer.
Aside from ETFs/ Robos, I think you should start with whatever you feel the most comfortable with. Personally, I got started investing with REITs. Investing in the SG market first was what I was comfortable with because it was close to home. It allowed me to gain some confidence in investing and helped to reduce the initial skepticism that I had towards investing (it sounded too good to be true to me, at first). After that, I moved on to ETF investing.
Personally, I'd recommend these 2 books:
I'll Teach You To Be Rich - Ramit Sethi
The Simple Path To Wealth - JL Collins
They really bring home the idea of index investing and why it's effective and good enough for most people.
Hope this helps & all the best!
Regards,
thefrugalstudent