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Anonymous
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This post is no longer accepting new comments because it has been merged with Are there any books or courses in Singapore that are recommended for a beginner like myself to understand how to get started on investing?
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Hi, optimum choice to start investing in your young age.
the book recommendations already mentioned are fine.
you don't need to read a lot of books, though.
what you should incorporate into your actions early however are timeless 'truths' of investing:
-time horizons for equity to hold are at least 10 years (patience ...)
-invest periodically (cost averaging)
-reduce cost of investing as much as you can (brokerage commission fees and account maintenance fees, cheap products like ETFs)
-diversify (ETFs)
-avoid trading (nobody can time the market), instead Buy&Hold
-don't trust finance professionals too much (they often are biased to recommend their own expensive/underperforming products like unit trusts or incomprehensible structured products)
-avoid the 'bad ones' (unit trusts, options, CFDs, ETNs, ...), also investing into single stocks as a retail investor is controversisl when studies show that even the pros are incapable of picking stocks successfully over the long term (compared to market benchmarks)
-avoid greed, with equity investing 3-5% nominal annual performance averaged over longterm is good, 5-10% very good, 10-15% would be fantastic
more on my thinking:
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Isaac Chan
30 Jul 2019
Business at NUS
Hello!
It would be a great help if you could understand how to read financial statements, such...
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I would recommend some easy to read books like Rich by Retirement and Quit Like a Millionaire. Not too technical and easy to execute.
Start small and you will be fine. I hope I started at 19 years old like you.