facebookI'm 22 this year just started working with $2.5-2.8k salary. Thing is, I have ~$39k savings. With a relatively low starting salary but quite a lot of savings, how should i plan my future finances? - Seedly

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Anonymous

27 Feb 2020

Couple Finance

I'm 22 this year just started working with $2.5-2.8k salary. Thing is, I have ~$39k savings. With a relatively low starting salary but quite a lot of savings, how should i plan my future finances?

I have 25k in a fixed deposit for 3 years, 2018- end 2020, at GE 2.2%, 14k in Bonus+ bank account) What should i do with my money in the long run? I have read a little about investments but i'm not sure if there are other ways to grow my money. I'm risk-averse when it comes to investing. With a relatively low starting salary but quite a lot of savings, how should i plan my future finances? Just applied my first credit card. Intending to get married in 3-4 years.

Discussion (7)

What are your thoughts?

Arpita Mukherjee

Arpita Mukherjee

13 Nov 2019

Level 8·Community Evangelist at Kristal.AI

Hi Anon,

Good to see that you're already doing so much to save and grow your money.

You can start by not putting all your eggs in one basket. An ideal, successful portfolio requires thought and you must analyse each and every one of your investments rigorously before you invest. You might find this process daunting, which is why it is more beneficial to build your investment portfolio slowly over time, rather than rushing into making a ton of investments quickly. Allow yourself the time and space to grow and learn before diversifying or rebalancing anything. Of course, if your advisor tells you to do something specific, you should certainly take that into consideration too!

Here's something more elaborate.

I work at kristal.AI, and my mojo is to help people make the right financial decisions.

If you think I helped you, do give me "Thumbs up". If you think my response was biased let me know, I will work on it.

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Before even investing, you should set aside a sum of money for your marriage. After that then you can consider to use the remaining money to invest.

As you have some big ticket items to spend on in the next few years, I would suggest putting your mo...

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