facebookI am a 22 yo, working full time. I'm looking for ways to grow my wealth (like put in a sum of money and let it grow without much effort), I've been reading to gain financial literacy but kind of struggling. Any advice? - Seedly

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I am a 22 yo, working full time. I'm looking for ways to grow my wealth (like put in a sum of money and let it grow without much effort), I've been reading to gain financial literacy but kind of struggling. Any advice?

Last month I signed on AIA PRO ACHIEVER (100% Investment) 3k/yr & 1 time payment of $200 in stashaway...Thinking that it might be a good way to start off and mayb few years ltr (more financial power) I'll venture into investing myself.
But I see many - comments on ILP and now I'm thinking if is really not worth having the policy... At the same time I need someone to help me to "manage my Investment" because of my inability atm.
Feeling conflicted cuz I want to start investing esp now i'm young

Discussion (12)

What are your thoughts?

Lim Boon Tat

Lim Boon Tat

10 Apr 2021

Level 10·Mathematics at Cambridge University

Hey! do this:

(1) Download Libby App, and sign in using your National Library credentials

(2) Read the books "Playing with FIRE", "The simple path to wealth" and "Financial freedom by grant sabatier".

Maisul

Maisul

11 Jul 2020

Level 9·Youtuber at Google (Channel : Say Do Invest)

Awesome that you realised the importance of it at 22. Kudos to you!

Personally, I do not beleive in insurance financial products. I will get a lot of hate for this but this i just my two cents.

Why let others manage it for you when you can manage your investment products yourself?

I have created a step by step in depth video on how you can open a brokerage account.

https://youtu.be/rBSALNTjuTQ

https://youtu.be/CT1b_N078qU

It is ok to be confused. I was a lost sheep before and I was 25 at that time. Your runway is longer than mine. You are at at advantage!

Happy investing!​​​

Alex Chua

Alex Chua

10 Jul 2020

Level 9·Seedly student Ambassador 2020/21 at Seedly

If I recall correctly, there is a package for AIA, you probably can ask your advisor. You may also want to relook at your policy and relook at your funds in your ilp. You could reduce your position.

Now with roboadvisors, investment are made easier. They also often send out newsletters to improve your financial literacy.

Financial independence is a marathon so go at your own pace, learn while you can. Learn your lesson from the misinformation gained from ilp. You will build a lot of filters along your way.

Summary
1. Understand your ILP
2. Understand your roboadvisors
3. Learn things you find curious. Let robo run the show while you gain your knowledge
4. Investment is a marathon. As much as we can advise you, you need to learn to make your own decision

Hi! I've been in a situation like yours when I started saving up few years ago. I too signed up for ...

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