How do I grow my money safely for someone who does not know much about investment?

When we discuss about wealth accumulation, a common denomination will be risk. For instance,

• What is your risk profile?

• Are you willing to tolerate risk?

• Are you able to tolerate risk?

From there, we will determine whether the types of investment that may be suitable for you. However, it must be remembered that all investment carries some form of investment risk.

More Details: Types of Investment Risk that You should know

With this in mind, the abovementioned three questions will help us to understand whether investment is even right for you in the first place. For lower risk products, you may look into fixed deposit, CPF, and Singapore Savings Bonds.

On the other hand, if you are willing and able to tolerate risk, e.g. long investment horizon, then you may wish to consider corporate bonds, or even a well-diversified portfolio with emphasis on bonds.

Overall, it will be good for you to conduct a risk profile assessment as well as comprehensive financial planning. In effect, this will give us a better idea on the best type of planning that may be suitable for you. Thereafter, products will merely be tools to help us fit into this planning.

I share quality content on estate planning and financial planning here.

If you're a beginner, start with index investing. (What's an index? Find out here!) It's the easiest and lazy man's way of owning a portfolio of globally diversified equities. That's not to say you don't learn and improve, but it'll help you get started while you go about understanding more about investment (here's an article to get you started).

You can do this by buying products directly that comprise the index (aka index ETFs), or you can engage the help of robo-advisors to help you build a globally diversified portfolio.

As Elijah has pointed out, you do need to stomach the volatility of the stock market. (But realistically, an index won't nearly be as volatile as individual stocks.)

Btw, putting your money in the bank may be safe in the sense that your money is not going anywhere, and it's not volatile. But don't go away thinking it's risk-free ok? Money in the bank confirm lose to inflation one. Meaning that in time to come, your money in the bank will lose value. So it's "safe", but then again, not really...​​​