facebookI've been thinking to start a regular savings plan with DBS. Is now a good time to go in? - Seedly



09 Mar 2020


General Investing

I've been thinking to start a regular savings plan with DBS. Is now a good time to go in?

My rationale to do the regular savings plan is to take advantage of the higher interest rates in my DBS account and also to start to invest. I've been working for 1 year+ now. Just thinking if I should dive in or wait.

Discussion (8)

What are your thoughts?

The fact you had to query whether it is a good time to enter now, means next time you will def will ask other people's advice when it is a good time to exit. Independence of thought (whether in hindsight turn out to be right/wrong) is paramount to sound investing.

You should probably first picked up some value investing books to improve your financial literacy skills before embarking on your investing journey.

As long the stock market is open, opportunities will always be there, its ok to miss out once in a while. BUT once you suffered a permanent loss, you can kiss your hard-earned monies goodbye

The regular savings plan will result in a fixed amount of money invested every month via a dollar cost averaging (DCA) method. This strategy performs better in a downward trending market because it averages out the price of your shares, and you will reap the benefits when the market starts to recover. In the flip side, a lump sum investment works best in an upward trending market, especially if you can time the market perfectly and catch the bottom. So if you're bearish about the market, DCA generally serves as a good strategy to adopt.

You also mentioned that you wanted to hit a higher interest rate, would you be able to share if the rationale is to hit the $50k cap as well?​​​

View 3 replies

Rais M

Rais M

08 Mar 2020

Level 9Β·Accountant at SME

One of the important lesson in investing is not to time the market. The low may get lower, and the h...

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