Advertisement
Taking into consideration that I deposit $100 in these platforms monthly.
8
Discussion (8)
Learn how to style your text
Cryotosensei
13 May 2020
Blogger at diaperfinancingfund.blogspot.com
Reply
Save
I think platforms like StashAway is pretty good.
Reply
Save
StashAway is pretty good and I see that it has great potential for future growth. Make sure you know your risk appetite and understand the consequence of your chosen risk levels or you may be shocked if your value plummets significantly for high risk portfolios.
If not, you may consider high savings bonds or SSBs to fight against inflation. If you are okay with more risks and don't mind the slightly more troublesome process, look into investing in S&P 500 as it has a historical return of 10%.
Reply
Save
Ray Phua
07 May 2020
Wealth Manager at AutoWealth
Hi Harrish,
As per previous replies, it is important to set aside at least 6 months of emergency fund. Thereafter, it will be good to set an investment goal for yourself, i.e. if you would like to save up for a house downpayment or retirement. You can explore AutoWealth planning tool at https://www.autowealth.sg/advisory_module.php This will help you to plan your goal, understand your risk profile, and the recommended portfolio to attain your goal.
The minimum to start a portfolio is SGD3,000. Thereafter, your idea of putting in $100 monthly is a good dollar cost averaging strategy and discipline way of investing. You can set up a standing instruction with your bank to deposit this fund on a monthly basis, making it a very passive and hassle free investment for you.
Reply
Save
Colin Lim
07 May 2020
Financial Services Consultant at Colin Lim
Hi,
First if u already factor in setting aside your emergency funds and this $100 is excess money a...
Read 4 other comments with a Seedly account
You will also enjoy exclusive benefits and get access to members only features.
Sign up or login with an email here
Write your thoughts
Related Articles
Related Posts
Related Products
4.7
1293 Reviews
StashAway Simple Guaranteed 3.55% p.a. (Guaranteed rate)
Cash Management
INSTRUMENTS
None
ANNUAL MANAGEMENT FEE
None
MINIMUM INVESTMENT
3.5%
EXPECTED ANNUAL RETURN
Mobile App
PLATFORMS
4.7
659 Reviews
4.6
933 Reviews
Related Posts
Advertisement
Well,
Well, I set up a StashAway account this year and transfer less than $100 into it from my SLS funds every month. LOL. But I think this small step has: 1) motivated me to transfer my money to SLS so that I can benefit from tax savings, 2) whetted my appetite for investing (which is why I’m at Seedly now.)
Once I grow more comfortable with these platforms, I will pump in more money.
btw if you haven’t heard of Singlife yet, go check out the reviews yet. The returns are non-guaranteed but Singlife is presently dishing out 2.5% interest per year for your first $10k.