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Personally, I use 6 months as a minimum, and sometimes extend it to $10K to $20K stashed in a high interest savings account depending on what makes you sleep well without worrying about money or financial needs in the short term.
Once you are comfortable with that, then you can invest with the rest of your monies (at the risk of losing them!)
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Andy Sim
06 Mar 2020
HR Professional at a Financial Institution
Hi Raimi, I think Dawn have answered your question regarding emergency funds well.
Aside from that, read up more about investments and understand your risk profile and the different types of investments. I find this article by The Fifth Person useful:https://fifthperson.com/how-to-start-investing-...
To further your knowledge and fast track your learning, do consider signing up for investment courses like Dr Wealth or The Fifth Person. The course fees may be steep but the contents and value you get from it should be well worth the money spent. You can always make or earn back the money but the knowledge sticks with you throughout.
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Typically i would keep an emergency funds of 6 months of my monthly expenses rather than salary, but there's no harm if you want to have a larger buffer. The critical step in getting started would be to find out what kind of an investor are you, so that the strategies adopted are in line with your objectives. Apart from doing lots of reading and research, putting in a small amount of money to understand the markets and how you react to fluctuations would also be very helpful.
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As long as you are able to sleep in peace every night, it will be enough in my opinion. You can star...
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avoid mutual funds / unit trusts
concentrate on largest and cheapest ETFs for longterm success