13 May 2021
I have limited funds now for investing but I will be going to work soon after graduation. Am in my mid 20s and would like to take higher risk. I have been keeping up with the stock market for some time now. Should I open a Tiger/Moomoo now (to benefit from the sales) or later when I have $2-3K (to get the free stock)?
Kylie Ng Kai Li
13 May 2021
Senior Premier Consultant at AIA Insurance Pte Ltd
Before selling off the funds and buying into stocks, have you figured out which stock you are going into and are you selling off the funds at a loss?
Investment is a very long term commitment and if you have thoughts on buying and selling often, that would probably be more towards trading already.
The strategies for trading and investing are very different also.
From your sharing, $1k is probably a major part of your assets, and moving the money around here and there (even with higher possible interests), the gains wouldn’t be significant.
I think you can open the accounts first, but to move the money around from a platform to another, I think better think twice if it’s worth it.
Congrats on graduation!
I would definitely try to be holding on to cash as much as possible now so that I can deploy whenever I deem fit. If I were you, I would try to quickly liquidate my holdings in Syfe so that I have enough funds to buy into individual stocks at a discount. As for the opening of brokerage, I would try to open as fast as possible because you never know how long it might take to open (esp when many people are signing up for their own brokerage account now). To me, the free stock is rather inconsequential; it's kinda like being penny wise pound foolish (if you get the free stock at the expense of not being able to buy in at a good price, then it's not very worth it either).
Hope this helps!
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