Need some advice on investment

Hi all, I’m rather new to investing and just starting to get into this at the age 30. I know it seem a rather late (usually lurking around in forums/Reddit so I’m genuinely envious of people who start their investing journey early), but I guess it’s still never too late to start something.

I recently tried to sort out what I have on hand to see what I’m lacking through the short, mid and long term category, and I do feel like I have a lot to work on, so here are the breakdown of what I have currently:

Short Term

CIMB FD @4.15%
Emergency Funds in OCBC 360, about 3.8% after hitting the criteria

Mid Term

NTUC Income Limited Pay Revosave $200/month, bought this in 2013. Have completed the payment terms, so have to wait another 5 years until maturity.
Manulife Enrich (ILP) $900/half yearly, bought it in 2017. I never truly understand ILP back then but started reading about it recently, honestly felt a little insecure about this plan.

Long Term

Sadly, I don’t think I have any here. Hoping to seek opinions on what is recommended for long term. I have also researched a bit of ETFs, so thinking to invest in OCBC BCIP (bank ecosystem, but I do understand the fees is high for age above >30) and VWRA with IBKR. Planning to allocate about $500-700 into this long term category.

Do feel free to throw in your suggestions or any advices. Thank you!

Discussion (11)

What are your thoughts?

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I.L.

09 Jan 2023

Great work there. Just a few pointers:

No more investment linked policies please.
No more endowment policies.
Use cheap online brokerage for stock and etf. I use Interactive broker.
If you like stable safe low return investment, try ssb and t bills.

#Not proper financial advice

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Edward Choy

09 Jan 2023

My 2 cents:

The ILP is a sunk cost, but you didn't put too much into it so unless it irks you too much just leave it alone
Consider investing into a REIT (one of the bigger ones here) and/or one of the big dividend stocks like SGX, NBN, or just one of the local banks. Heck, the bank could be your BCIP.
Looking at your portfolio, I would encourage you not to be tempted to do short-term trading, or invest into anything with a high risk profile. Ever. Just stick to your safe and secure investing, you'll do great. :)

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LLy

06 Jan 2023

I started OCBC BCIP after 30yo too :( but what I like is the autopilot and buying small amount monthly. Recently tried to buy SG stocks through broker, wah the pricewatch is heart-pounding, LOL.

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