facebookHi! Im a 19 year old diploma student with 20k (inheritance haha) on hand and don't mind investing it for the next 2 years. Looking for some advice on how to handle this amount of money. Any suggestions? - Seedly

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Sherman

02 Sep 2020

Students

Hi! Im a 19 year old diploma student with 20k (inheritance haha) on hand and don't mind investing it for the next 2 years. Looking for some advice on how to handle this amount of money. Any suggestions?

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Singlife!!! 2.5% p.a

If you’re okay to deal with risk -> Robo-Advisors to get higher returns hehe

Michael Wong

12 Aug 2020

Seedly Student Ambassador 2020/21 at Seedly

Investing is a sensitive word. The question you need to ask yourself is how much risk appetite do I have? To simplify the whole thing, are you comfortable with the possibility of losing your capital?

If no, then you should consider safer instruments such as fixed deposits of 1 year (do it twice). Alternatively, Singlife is an insurance savings plan that provides a non guaranteed 2.5% (capital is guaranteed though). Standard Chartered bonus saver (normal bank account) provides you a 1% interest up to 26 years.

If yes, then you can consider trying robo advisor platforms such as stashaway where they build a portfolio for you based on your risk profile. If you're able to hold on a longer time horizon of lets say 10 years, perhaps you can consider looking into equity unit trusts.

Kah Seng

12 Aug 2020

Logistics and Supply Chain Management at Singapore University of Social Science

For a short time horizon of 2 years, the best will be a high interest savings account. SingLife will...

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