08 Jun 2021
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.
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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