facebookI’m currently serving NS, will ORD in August 2021. If I were to go overseas for Uni studies, what will be the most useful plan to maximise my money right now? - Seedly

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Anonymous

23 Jun 2020

Students

I’m currently serving NS, will ORD in August 2021. If I were to go overseas for Uni studies, what will be the most useful plan to maximise my money right now?

Most useful as in a plan that will help me maximise my money and help me with my tution fees, accommodation cost etc

Discussion (1)

What are your thoughts?

Malvin Tan WP

Malvin Tan WP

23 Jun 2020

Writer at t.me/pwpfpodcast

By maximizing that means you are leaning towards growth, since you are young you have the luxury of a long time horizon coupled with low expenses and liabilities that means you can embrace failure. Therefore the most useful plan you can do is to learn how to invest in growth oriented instruments such as equities because they are liquid and you can do it online (overseas transfer through ibanking is easy plus brokers online platform means you can invest even overseas)

this could mean;

1) individual selection of shares/funds/ETF, yourself or

2) identifying a competent financial adviser that you can work with to assist you in a systematic process to achieve the above.​​​

Too little info to go on.. Have you looked into the tuition and possible accommodation fees you will be needing and comparing it to the current amount you have planned for it?
If you will be needing all the money in about a year's time then I can only suggest a high yield savings account since there's no time period where your money is locked up. Most savings plans have a lock up of some years before you can take out the bonuses, and investments may be risky for you since you may not be able to take a loss of capital (this is tuition fees after all)

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