facebookI'm 22 this year. After working 1+ years, I've managed to save up about $10k. - Seedly

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Anonymous

23 Jul 2022

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Adulting

I'm 22 this year. After working 1+ years, I've managed to save up about $10k.

Planning to take on a degree next year & thought of investing, but I might need that money to pay for a part of the school fees. Hope to receive some advice

Discussion (17)

What are your thoughts?

Hello! good job on it, now it is time to focus on building up knowledge and reading on how invest. 1 advice is to start somewhere like in S&P 500 which is pretty diversified

Invest in your studies and try your best to do well so that you don't waste your time and money!

I tell alot of younger people at my workplace, if i knew what i know now when i was your age, I'd probably not need worry about job security now.

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I'd like to congratulate you in accomplishing this. 10K in a year plus is a sign of discipline and you will go far. If im in your shoes, ill be more concerned about capital protection, ie my 10k dont lose too much of its value.

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The market is now volatile, with S&P 500 dropping more that 2% overnight. Hence, it is also a good time to look into good value stocks beginning with Singapore that pays dividend. As someone below has mentioned, dont underestimate the power of compouding interest. Banks in Singapore are stable, and pays respectable dividend. I'd allocate 30% to those, keeping 40% liquid for future opportunity and another 30% for school if/when needed. Do not stop saving, and u could allocate lesser savings than usual and use the rest for school.

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You could also consider taking a studies loan, which the interest rate is lower than your projected dividend payout. This mean u are paying only the principal sum for the loan with dividends paying for the interest in the long run. (less viable option, depends on your risk appeitite)

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Once you get ur feet a little wet, then u can start exploring other investing opportunities such as ETF, Funds and overseas stocks.

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Good Luck, and stay the course!

I think you are in a good place. Since investment is pretty liquid nowadays. You can invest, get a yield then withdraw and get your money back in T+2 thereabout. As the market is going into a technical bull, putting monies into investment might be the thing to do. If you are new to investment, you might want to try robo advisors such as SquirrelSave, Syfe or Endowus. For something stable, might just put into FD. Good luck.

HI! recently, i was looking into money market funds where there is high liquidity, which means i am ...

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