facebookHi I am a 21 year old currently in NS and have some personal finance questions. My goals are to ORD, find a decent paying job, to hopefully BTO at 24 and get keys by 30. Hoping to get some insights on this? - Seedly

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Nikki Romero

Associate at Social Service

24 Dec 2020

Robo-Advisors

Hi I am a 21 year old currently in NS and have some personal finance questions. My goals are to ORD, find a decent paying job, to hopefully BTO at 24 and get keys by 30. Hoping to get some insights on this?

Hi Seedly,

Currently 21, in NS as a Man. Have started tightening my budget to saving $100 a month & $50 investment into StashAway. My goals are to ORD & find a decent paying job, to hopefully BTO @24 & get keys by 30 & have a smooth life onwards.

Is StashAway low risk portfolio a good place to start?
How are some other ways to generate passive income?
What are some good savings plan / bank account for a couple to start working on for future goals/housing?
What are some ways to finance a degree?

Discussion (7)

What are your thoughts?

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Heyyy brooo. I think you have already started your plans by looking into your options and putting in the effort to save.
Overall i would say, budgeting is very important and by sticking with your budget and ensuring you can save consistently will net you solid gains for this period already.
on investing i would say there are many options you can take, with differing risk. You will have to gauge yourself. Whether you are alright with variations in your return. if not for the amount you are saving singlife is alright as well.
For now staying debt free and growing your capital would be ideal. you can even consider taking classes or courses on investing and maybe learn more so that you can make your on choices coupled with advice that you do seek. jia you and well done on getting started

No experience in investing. Robo is good. The the most aggressive portfolio, DCA & close your eyes.

DBS multiplier, SAYE (2% for 2year only)

Passive income:

1) dividend. u need at least $500k to have impactful dividend ~$2k per month @5% p.a.

2) rent your room. But no privacy, tenant maybe dirty person.​​​

Just dont join the scammy ecommerce buisness/dropshipping guru... they like to sell big dream & easy $$$

Jiayee

20 Dec 2020

Salaryman at some company

Generation of passive income is only possible with sufficient capital. So your priority now is to gr...

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