Anonymous
I’m 20years old, with $22k in Jumpstart. Just started DBS Investsaver($100/mth). I also have a monthly income where I save $1000 monthly ($500 into StashAway Simple for the low-risk). My question is, I still have a decent amount of money left which I put into Jumpstart which is not wise as it just sits there. How much should I actually invest? And if I do, what else can I invest in?
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If you are looking at no risk I would suggest you parking your money in the following accounts:
First 10k - Singlife (2.5% p.a.)
Next 20k - Jumpstart account
Remaining sum of money - CIMB FastSaver Account (1% p.a.)
As you are still young, I would suggest you to read up on investment and learn about it. Some ideas would include things like equities, ETFs, bonds and etc.
An advice I have is that you should not rush into purchase anything even though prices may look attractive now. Make sure you have done sufficient research.
All the best!
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You can do your basic budgeting here: https://www.aaronleow.com/life-budget-calculator(https://www...
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It is important that you first figure out your finances! Think about how much you would need for your emergency funds, which should be 6-12 months of living expenses that you cannot go without. Put that amount into a high savings account like Jumpstart.
After that is settled, as for beginners, you may look into investing in ETFs as they are lower risk investments as you are investing in the market as a whole, compared to individual stocks, mutual funds and other securities. One recommendation I always give is the S&P500 ETF which has historical returns around 10%.