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Anonymous
I am a fresh grad that just started working FT, and I have no loans.
I'm not thinking of having cash on hand cause I have 12k in SSB (rainy day funds) & $800 total in 5 REITS (just dipping my fingers) already.
Is this wise?
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Ngooi Zhi Cheng
09 Oct 2019
Student Ambassador 2020/21 at Seedly
Hi,
We will not be able to answer if this is a wise move without first understanding your current cash flow, assets and liabilities.
I personally do not insist on my friends and family on having an extremely fluid emergency fund if they are comfortable with that. However, do you know that it takes minimally one month for you to withdraw from SSB?
Are you confident that you can survive 1/2 month(s) (in emergency scenarios like loss of job upon an accident) before you get your rainy-day funds from SSB?
With regards to your REITs investment, putting all of your investments into REITs may not be the most efficient form of investment. We first have to find out why are you investing in REITs, your purpose and what you want to achieve in your investment journey
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Siow Nan
05 Oct 2019
E at NUS
Agree, build some cash in a high-interest rate bank account like DBS multiplier first, so that you c...
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Hi Anonymous!
I share the same sentiments as Elijah regarding your rainy-day funds and investments in REITS! In addition, you might want to consider planning for 6-months worth of rainy-day funds in the case of extreme emergencies or to tide through financially-strapped situations.
Both DBS Invest Saver and Stashaway are great options to increase diversity in your portfolio but to consider which one, it would depend very much on your investment objectives. The main difference between the 2 would be that Stashaway would probably allow you to hold a greater diversity of assets as compared to holding only the STI ETF. You would need to consider which approach would be best for you. Robo-advisors provide a tailored aspect to your investment strategy by customising a portfolio that aligns with your risk profile.
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