facebookI have a savings of 10k, entering ns soon. Should I use part of the money to invest now or keep all 10k as emergency fund and only start investing with my ns income? - Seedly

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Anonymous

24 May 2021

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General Investing

I have a savings of 10k, entering ns soon. Should I use part of the money to invest now or keep all 10k as emergency fund and only start investing with my ns income?

I intend to invest $200-300 monthly with my ns income into ETFs. Should I invest now or wait? Will 10k be too much for emergency funds? Cause I want to max out amount for Singlife to earn the maximum amount of interest. Would love to hear some suggestions.

Discussion (6)

What are your thoughts?

Shania Loh

Shania Loh

14 Aug 2020

Level 8Β·Seedly Student Ambassador 2020/21 at Seedly

Hello!

Consider splitting your 10k into Standard Chartered JumpStart account (1% interest), Singlife (2.5% interest, not guranteed) and StashAway Simple (1.9% interest, not guaranteed). Only invest when you are sure that you have enough emergency funds to self sustain and consider your risk appetite and time horizon. Robo-advisors can be an area to look into as they are rather customizable and take into account your risk appetite and financial goals. Such examples are StashAway, AutoWealth, EndowUS, kristal.AI. ​​​

V

Victor

24 May 2021

Level 8Β·Financial Service Consultant at AIA

Maybe use 20% of it to invest in ETF

Glad to hear you are so keen on starting your investment journey!

Before you start on this journey,...

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