facebookI'm 25 y/o, holding a full time job and going to study part time soon this year (~25K total with bank loan). I only have 28K in my bank (parked all of them at SSBEC). Should I start investing? - Seedly

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          Anonymous

          19 Jun 2020

          General Investing

          I'm 25 y/o, holding a full time job and going to study part time soon this year (~25K total with bank loan). I only have 28K in my bank (parked all of them at SSBEC). Should I start investing?

          25 y/o, holding a full time job and going to study part time soon this year (~25K total with bank loan). I only have 29K in my bank (parked all @ SSBEC). Usually after all the expenditure and my insurance, I have $800 left. I will dump $700 into my SSBEC cos of my uni fees (payable after my whole uni is over (no interest rate))

          Now Im not sure if i should start investing due to my uni.

          5

              Discussion (5)

              What are your thoughts?

              Nigel Tan

              Nigel Tan

              16 Jun 2020

              Level 7·Executive Senior Financial Planner at Great Eastern Life

              I would encourage you to build towards paying off your debt as soon as you can before you start investing. Unless you can guarantee that you will certainly profit with your investments that can pay a higher rate than the bank loan interest, then you can consider going for it.

              Investing once you're clear and free from any debt would be alot more comfortable on the pocket both financially and mentally. The bank interest is guaranteed while your investment returns may not be.

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                  Leow Ting Yang

                  Leow Ting Yang

                  16 Jun 2020

                  Level 5·Business Administration at National University of Singapore

                  Would be wise to really understand first before investing - can start w basics such as endowment plans/ saving bonds before you move on to riskier venutres. ATB

                  Reply

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