I'm interested in investing my money now to have passive income, but I lack the knowledge on investing. How do I even start and what should I do?

You can do it all by yourself.

I believe that longterm passive ETF investing (buy & hold) can be the best way to be successful.

some important details here:

https://seedly.sg/questions/what-is-your-genera...

Insurance plan are not easy to understand even you read all kinds of financial books or article.

Insurance take into account of one person well being and by measuring the risk that they take to insure that you will keep living and not leave this world. Also with the add benefits to both protect and ensure when any things happen there is a support.

For ILP, the name in full is Investment Link Policy. What it means is that this plan involves Securities, which means it take part in investing in the market. Not to be scary by the word investing, it is just telling you that they will take your money paid to them and put in the market to earn.

However, take note of the years that you will need to paid for the premiums. Is it pay for limited time or till the day you say bye bye👋🏻?

I would suggest to speak to the person that sold you the ILP and let them re-explain it to you if do not understand. If you really need other advise than you can look around for trustful financial advisor to check out more.

Do not mix insurance with investing. Is a big difference when it come to looking at it.

If you got more questions feel free to comment.

Good job for embarking on this journey! Unfortunately idk much about that but lemme give some general advice!

First, think about what kind of investment goal you want. Do you aim to receive passive income monthly in dividend payment or you wish for value appreciation over time? Are you looking at a ST or LT horizon.

After your emergency fund is settled, as for beginners, I encourage you to look into investing in ETFs as they are lower risk investments as you are investing in the market as a whole, compared to individual stocks, mutual funds and other securities. One recommendation I always give is the S&P500 ETF which has historical returns around 10%.

Hi anon,

Without knowing the full details of your current situation, I can say this: We all make mistakes.

Even I have.

If you felt what you did was a mistake, then at least take comfort in the fact that you are now aware of it, rather than 10 years down the road. The question you need to ask is: Can I now do something about it that will improve my situation?

I don't recommend investing via an insurance policy. Insuring or getting guaranteed policies from an insurer is all well and good, but when it comes to investments, there are loads of other options for you to consider.

I'd suggest that you speak to an independent financial advisor to see what your options are, bearing in mind that your situation is unique to you and you alone, so I can't just give a blanket advice here on what to do.

Remember: There's no need to feel scared. We all make mistakes.