facebookHi I currently have $50k in cash at 22 years old, I want to invest what are some of the options ? - Seedly

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Anonymous

20 Sep 2020

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General Investing

Hi I currently have $50k in cash at 22 years old, I want to invest what are some of the options ?

Discussion (1)

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First, ensure you have sufficient insurance coverage. You can speak with a few advisors for more queries.

Second, ensure you have sufficient emergency funds (~6-12 months' worth of expenditure). This can be lower if you are not self-dependent or more if you have variable income.

Third, you can finally invest now.

What you can invest in depends on how much time you are willing to spend on it. If you like to devote more time, you can consider buying individual stocks/funds. TDA has a tedious account opening process but has no fees when investing in US. If you prefer convenience in exchange for higher fees, you can consider roboadvisors. Personally using Endowus since I can mix cash and CPF to hit minimum 10k. You can look at the comparison here: https://blog.seedly.sg/singapore-robo-advisor-i...

There's quite a number of differences between the platforms. The most important for me is individual custodian account, in light of Smartly. I would want the investments in my name and be able to continue investments even if the company closes down. Only Endowus and Autowealth has this. Next, I would want low fees. If you prefer 100% equities you can also consider Syfe: https://seedly.sg/questions/why-stashaway-when-...

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