I am 19, full of plans but no execution. I need help, here is what i am about to go through.

Good day Seedly community,

I am a 19 year old male, currently a full time hustler but have National Service coming up.

I completed my N(A) Levels & proceeded to ITE, dropped out after 2 months as i felt the course they threw me in was not beneficial for my future, I left, lost & broke as f*ck.

I am not a study type person, money is always on my mind... i left my relationship to make time for my career.

My first proper job was as a mechanic, earning minimum wage, after a year i left the job to find a higher pay & i did. I am going to be transparent, i am now 19 earning approx $5000 every month inclusive of CPF ( Take back $3700 incl work allowance) in a no comms sales position.

I am in the job for about 5 months now & have roughly $5000 in savings, $3000 in Syfe robo adviser & roughly $2000 in cash as of today. I have saved little as i started this high pay job, the money was coming in fast, it went out as fast as i never had so much to spend so i was pretty ignorant of my spendings (Luxury goods, good food etc.) I was only officially financially woke about 2 months ago. I have a motorcycle to support as well. ( my mode of transport)

But this high pay job would only last me till about approx late Q1 2022 as my National Service is coming up. I am saving like hell for this day now.

I tell you honestly, my knowledge on investing is BASIC at most. My Syfe portfolio consist of Cash+ ($1445 currently), Equity 100 ($1020 currently) & 100% REITS($530 currently). I do not know if the amount of risk in equity & reits i have put myself in is worth in the long run, hope someone can educate me as my portfolio is slowly losing money, except Cash+. I have used Cash+ as my primary High yield savings account. Montly i am setting aside 55% in syfe & the rest in the bank.

National Service, i am probably a PES C due to my rare heart condition (Wolff Parkinson White Syndrome). I do not know what Its like or what to expect. Hope someone can guide me on how to manage the massive pay cut & survive while investing with $630 a month allowance from Ah gong.

As you can already tell, i am lost as f*ck. I have been working for nearly 2 years now since i left ITE & lost most friends due to hustling. I am more or less a loner, its affecting my mental health as well i think.

I want to be rich, just like anyone out there. I am willing to sweat buckets to reach that goal. I just need a little guidance from the community of matured adults who have already been through this phase of life. I need help with understanding Syfe & how to continue investing while serving time. Thank you for reading.

Best Regards,

Dylan

Syfe

Discussion (3)

What are your thoughts?

Learn how to style your text

CommonSense Investor

13 Sep 2021

Certified Professional at Biotechnology and Gene Therapy Industry

Time is the ultimate currency and clearly you still have a lot of time on your side. Everyone need to realise we are living in a capitalistic system that rewards in-demand skills. In other words, purely exchanging monotonous labour for money is not viable in the long term when technology will certainly take over huge portion of the labour market (AI robots)

It isn't about sweating buckets for money. It is always about knowledge and skills. Think about how you want to upskill first and earn money later. Once you gain skills that employers desire, money will come automatically without dropping a single sweat in an air-con room.

Note this is just the beginning, once the money comes in, you will need to ahve strong focus and self discipline to not spend it away instantly. Watch out for lifestyle inflation, stay frugal and use money to buy cash-flow positive assets. Use money to Earn money to get the ultimate flex in 10 years = Having the freedom not to work and do anything you want (thats my goal)

Save

Darren

12 Sep 2021

Mechatronics Engineering at Nanyang Technological University

Wow looks like you are already on the right track, no matter the situation you will be facing soon.

Looks to me like the main issue is the reduced income to only $600+/month from NSF allowance. Come up with a proper budgeting plan by yourself, it can even be the 4-3-2-1 budgeting approach, so long as it fits your goals.

After that, use whatever money you have allocated and put it into your investments monthly.

Putting that aside, I faced a similar issue whereby I felt that it was so restrictive having less than $600+ a month during my NSF days. However if u see it in a different perspective, you'll find that its more than enough. Food wise i believe you will only be spending on fridays & the weekends. Petrol for your motor - If you're not planning to travel across from east to west, should last you for maybe 2-3 weeks since you won't be riding during the weekdays. During your in-camp stay, you'll get to enjoy the perks of free cookhouse meals daily, so use that to your advantage.

And lastly for the mental health issue, I reccomend you seek a professional to confide to. Sometimes even the easiest things like sharing your issues with someone will make you feel better and allow you to think clearer. Also, when you're in NS, I'm sure you'll be meeting a few lifelong friends :D

Save