01 Jul 2020
About 8k of the 40k is currently in Stashaway. Working hard so that we can afford about 50k for resale 3-room flat DP. Will spend about 15k for a small wedding. I'm currently earning 3.3k before commissions (about $500 a month), and my partner is earning 2.8k before CPF. On average we are saving about 3k in total. Should we look at investing some money in ETFs/Unit Trust if we plan to withdraw next year? Any suggestions for other short term investment very welcome!
Hi, I would say that both of you should focus on protection first before anything. As you guys are still young, health and age are in both of your favours. I was in your situation as well and I actually prioritised what's important first.
Understand that both of you want to settle down and have plans in mind, do note that to SPEND ON WHAT YOU GUYS CAN AFFORD. Always have backup plans as well, in case any of you guys were to change jobs are you able to afford the house?
My advice for you guys would be:
1) Get sufficient protection first
2) Either house/ wedding first.
Don't spend too much on renovating the house, because the furniture & appliances can be quite expensive
3) After you guys have settled down everything, see how much you guys have and slowly build on investment.
If you would like to discuss it in detail, I would love to connect with you!
Dont wait to invest
Start by putting aside a set amount of money for immediate big purchases (wedding, house), then spend on your necessities. then look into how much you can save a month, and then set aside some money for investing. With that (small) amount, start your position in a low cost etf like S&P 500
Consider renting and investing for the next X / XX years? Then you will be able to invest the bulk o...
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