How do i start my investment journey started ? What kind of platforms should i invest in ?

Im a student, gained interest in investing recently. I have researched and found out theres quite a few options for me. SSS, STI-ETF. Is it possible for me to start with very little savings? Around 5k in savings, i have around $500 monthly from allowance and part time job. Recently started on my endowment plan too ($150 per month). Any advices would be appreciated!!

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Edwin Koh

20 May 2019

Software Engineer Lead at Rhine Digital

1) Get yourself covered with basic amenities like Health insurance etc.

2) Emergency fund min of 6 months worth of expenses for a rule of thumb.

3) You can look into regular investment plans like POSB saver with min of $100/month etc for STI-ETF.

4) If you more interested in global ETFs you can go into Robo-advisor like Smarty, stashaway where you can start investing with as little as $10.

5)I would suggest you also put part of your saving in SSB ( Singapore Saving Bond) with the min $500 per increment.

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Tan Wei Ming

18 May 2019

Founder and Writer at Frugal Youth Invests

I saw that you recently bought an endowment plan. Please provide us with some reasons why you went into it? If you do your own research, endowment plan is something that we will always avoid...

As for investing with a small sum of money, you can try dollar cost averaging with STI ETF using POSB InvestSaver or Maybank Kim Eng's monthly investment plan. The minimum commission is $1 and commission is 1% of total cost.

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Gabriel Tham

17 May 2019

Tag Team Member at Kenichi Tag Team

Build up your savings first. Create an emergency fund, typically would be 6-12 months of salary/expe...

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