facebookI am in my Mid 20’s & have $210k in cash sitting in the bank account, I feel very stressed everyday as I know I’m not making full use of the money to invest and grow my bank account. Any advice? - Seedly

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Anonymous

08 Jun 2021

Saving Hacks

I am in my Mid 20’s & have $210k in cash sitting in the bank account, I feel very stressed everyday as I know I’m not making full use of the money to invest and grow my bank account. Any advice?

My job pays me around $8k/month, I feel I should be doing more with my money but am very lost as to what to purchase. Currently have an AIA Prime Life Plan, Manulife ReadyLife Income & Prudential Life plan. Now I’m looking to grow my money at a stable pace of 4-5% yearly no need for 9-10%. Anyone has any recommendations? I’ve been reading alot of financial books and financial Youtube videos too!

I wake up everyday feeling vexed, I feel I need a place to stash my money with minimal effort.

Discussion (8)

What are your thoughts?

Cassio

Cassio

08 Jul 2020

Level 6·Communications Consultant & Lecturer | Bilingual Writer at Coffeecassio.Wordpress.com

Wow, congratulations for saving so much money in your mid 20s.

For one, You can consult a financial advisor to see what's your risk appetite and decide which investment products would be suitable for your long term needs.

Alternatively, you can read up on investment books and financial planning related posts to boost your investment knowledge. I would highly recommend you to start with these 2 books to kickstart your journey to managing your own finances:)​​​

Endowments can command 4-5% in the longer term. They might provide the risk-return reward which you seem to fall under.

You can decide on Roboadvisers if you want the liquidity.

No lack of consultants to give advice when you have assets, choose one whom you can get along with.

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If after, as you quote, still feel vexed after "reading alot of financial books and financial Youtub...

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