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Anonymous
I’m 22 this year. Question as stated, i foresee myself practicing this (SA 36%, Syfe Equity100, $300 each per month) for another 5-7 years. Will it suffice to be called investing? thank you!
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Using roboadvisor is a good start!
You may wanna read up more during your free time and invest yourself to get higher returns if you’re willing to take the risk! :)
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When it comes to investing, there is not such thing as 'not enough' or 'enough' it all boils down to what's your end goal? If you ask me if it's enough for retirement, maybe not, but is it enough for the next 5-7 years? Probably yes.
This approach fits your current lifestyle as investing requires lots of research and conviction, this way you can at least ensure decent appreciation of your money in the short term.
But in long term I would suggest that you look at other forms of investment that can further accelerate your wealth.
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Png Cheng Xi Damien
26 Feb 2021
Happy Life Seeker at Home
Investing is about ideology, not action. That said, you should stick to 1 technic and stick with it until you amass a capital of around 100k~. Then you can look into multiple sources like a mix of asset classes.
I'd suggest sticking to 1 robo to build until around 50k. Use that 50k to do a one-time investment in an ETF of your choice (eliminates the yearly fees). Then use robo to continue amassing your wealth.
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I am feeling perplexed reading the other respondent answers. Being at 22 years of age you just wanna...
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Using only roboadvisors can be enough if your goal is long-term, steady growth and you prefer a hands-off approach. They offer diversification, automation, and convenience. However, you should still review fees, performance, and your goals regularly, as roboadvisors have limited flexibility and may not suit every financial situation in the long run.