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I'm a believer in starting early. I have a current budget of about 5-10k of savings.
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Arpita Mukherjee
05 Nov 2019
Community Evangelist at Kristal.AI
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Albert Tan
01 Nov 2019
Financial Literacy & Solutions at MoneyOwl
Invest in yourself. The learning should never stop once you step out of school. There are many things in life not taught in school. You are your biggest financial asset. Take time to explore your interests and passion. Increasing your human capital takes time, as with all other types of financial investments.
Whilst you're still earning a basic income as a fresh graduate, perhaps it's also good to look at your financial health and start on the right note. Build your emergency fund, keep expenses in check, and thereafter systematically save and then invest on a regular basis to reach your future goals.
There are many ways to invest. MoneyOwl offers one way which works for most people. It is relatively easy to get started with just $50/month, and no lock-in period (as in the case of endowment insurances). This should give you a good feel of investing in the markets
https://advice.moneyowl.com.sg/the-right-way-to... would be a good read for someone just starting out, with a myriad of choices available on the market.
I wish you well in your career and investing journey!
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John Smiths
31 Oct 2019
Tax at Local bank in Singapore
It's good that you have started investing so early and based on the responses below, it seems like y...
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There are plenty of safe ways to invest your money. You can go for REITs, other ETFs and bonds, but before you do that, I'd suggest you read up as much to understand what a Robo-advisor really does. Robo-advisory platforms assess your current financial position and recommend a portfolio strategy after reviewing your risk profile. These bionic advisors are still not very different from your ordinary financial advisors as both options will still have a management fee incurred for users. The difference lies with the amount, as Robo-advisors have lower management fees. And the best part is that they give you the most unbiased advice.
You can read here for a better understanding.
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.
I hope this helps you make the right decision.