Advertisement
Anonymous
Hi everyone! I received an inheritance of 60k and need advice on how to utilize it well, given my current situation and goals. Any advice?
My current situation:
1. I am currently 21y/o, awaiting university (tuition loans won't be an issue as I have a scholarship)
2. I do have adequate insurance
3. I have put 10k in Singlife & 20k in SC Jumpstart to serve as emergency funds/liquid asset
4. I plan to invest the remaining 30k
5. No debt
My main goal is to grow this sum over the long term and only using it for large purchases in the future eg. house. Very overwhelmed by options eg. top up CPF, lump sum or DCA, stocks or etfs...
4
Discussion (4)
Learn how to style your text
Reply
Save
Go to libbyapp.com and login via your NLB account, and go borrow as many personal finance / value investing books. Borrow books that are written from a practictioner perspective. Can start with beginer friendly:
The Five Rules for Successful Stock Investing by Pat Dorsey
The Ultimate Dividend Playbook: Income, Insight, and Independence for Today's Investor, Josh Peters
If books are not your cup of tea, there are a couple good US financial youtubers to follow
Graham Stephan: https://www.youtube.com/channel/UCV6KDgJskWaEck...
Reply
Save
On Dollar Cost Averaging and Lump Sum Investing:
Read 2 other comments with a Seedly account
You will also enjoy exclusive benefits and get access to members only features.
Sign up or login with an email here
Write your thoughts
Related Articles
Related Posts
Related Products
StashAway
4.7
1293 Reviews
StashAway Simple Guaranteed 3.55% p.a. (Guaranteed rate)
Cash Management
INSTRUMENTS
None
ANNUAL MANAGEMENT FEE
None
MINIMUM INVESTMENT
3.5%
EXPECTED ANNUAL RETURN
Mobile App
PLATFORMS
Standard Chartered JumpStart Account
4.8
782 Reviews
Endowus
4.7
658 Reviews
Related Posts
Advertisement
Assuming you'll be needing the money in about 10 years time, stay out of contractual policies or CPF. You can consider stocks/etf if you know what you're doing. If not, stick to robo-advisors and do a 50/50 split between equities/bonds. If you have higher risk appetite, adjust the split accordingly.
Good luck!