facebookI had recently inherited $14.7 million (after conversion from GBP). I have no parents nor guardian since 1.5 years ago which is why I don't have anyone to talk to when it comes to finances. Any investment advice? - Seedly

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Anonymous

04 Jun 2020

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I had recently inherited $14.7 million (after conversion from GBP). I have no parents nor guardian since 1.5 years ago which is why I don't have anyone to talk to when it comes to finances. Any investment advice?

I would like to gain some knowledge with regards to how I can invest without any risks involved. I'm a first year medical student and finance/investments aren't my forte so I hope you can excuse my newbie question. I do have a Singaporean uncle here in this country but I'm not close with him at all. I have read about investor's risk profile and I would say that I am very conservative, too conservative that I am not willing to take any risk. I've seen investment options that have high, moderate and low risks but nothing that says no risk. I have a minimalist lifestyle (eats in hawker centres, stays in school dorm, instant noodles, travels via metro) and am not looking to get rich as I am perfectly fine with extremely low rates of returns as long as it is higher than the HSBC Premier Savings Account I have right now which earns 0.1% interest rate. Would appreciate any feedback given. Thank you so much ^_^

Discussion (41)

What are your thoughts?

Can I just say that very few people (if any) in this community have experience handling this large sum of money. You're really better off speaking to wealth managers (not insurance agents, I'm talking about the real deal here).

They are the ones who can give you proper advice and they will do regular portfolio reviews with you.

If you are working with a wealth manager for the first time, don't hand over all your money to him/her. Let him/her manage $200,000-$500,000 and see how they work. Are they capable of doing a good job?

If yes, you can choose to double down on this wealth manager. Otherwise, you can always switch to find another one.

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some capital guaranteed options would be:

  1. Singapore savings bonds, max $100,000 per person

  1. Fixed deposits, max $50,000 per financial institution under SDIC, so diversify

  1. Capital guaranteed endowments and annuities, max $100,000 per insurer under the Policy Owners' Protection Scheme, so diversify

  1. CPF, subject to limits

(Also, not related to investing, but you should get yourself insured for hospitalisations and medical expenses 🌸)

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I can understand your situation somewhat feeling lost not being sure whom to ask or seek advice from...

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