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Anonymous
What is the best way to invest my money at 16 years old?(*long term goal)
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Invest in yourself, learn new and useful skills that will help you make more money in the future
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The best way is alway the way that suit your risk profile and within the ability to atleast understand the risk factors. If it is for long term goal, write down the time horizon and set realistic goals. Then move on to allocating into assets according to your risk profile and your comfort zone. Just start from your comfort zone, slowly learn more and more step by step. Do not blindly following the hype to chase after returns. If you can't hold or unable to stop lose, you might end up suffering more than just financial loses.
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I lost my first thousands going all in China stocks listed in Singapore. While losing is bad, I become more careful in any investment preparing to lose them. If I can choose again though, I would just DCA into stocks and focus my life on other meaningful things.
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Billy
24 Jan 2023
Development & Acquisitions Manager at Real Estate Private Equity
Ask your parents help you invest in T-bills, at least you can grow your money for a few more years b...
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It’s great that you are already thinking about financial planning at this age! I think you should first start by saving up for an emergency fund since you are most probably still schooling. You can refer to this article for more tips.