13 May 2021
Owner and Writer at Tortoisemoney.com
Honestly, if you go to a bank to invest it for you, you'll end up paying pretty high fees yearly (probably 1.25% pa). For now, that might seem quite little, but in the future, you could be managing a few hundred k in your own wealth and you'll definitely feel the bite of those fees then.
What I would propose instead, is to learn to manage your own investments instead. It's not as hard as it used to be and the good news is, you don't need finance background!
If you're new to investing I would advice you start with stocks first. Much more regulated and easier to understand and navigate. There are two main ways I would advise someone to get started on investing:
Both methods expose you to well diversified and tried and tested methods of attaining decent returns in the market. In fact, the US stock market as a whole has returned about 9.8% per annum for the last 90 years!
For roboadvisors, Syfe and Endowus are my favourites although others like Stashaway are great as well. You can take a look at their approaches and their portfolios to see if theyre suitable for your needs.
I know its likely quite daunting to think about investing by yourself. Start with a small anount and build up from there. You're still a student so you have time to experiment and try it out. Don't be afraid and just take the opportunity to learn as much as you can. All the best!
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