What investment product should a 23 years old with 30k to invest be looking at?

Hi all,

This is a follow up on my previous question “What investment product should a 23 years old with 30k to invest be looking at?” as a reply to Luke’s comment.

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Below is more details about me.

1) I’m Self employed

2) I do have life insurance, health insurance and an endowment plan

3) In reply to Luke, my passion is in travelling which I do set aside money to fund my hobbies and travel. So the 30k are just money that I hope to grow more passive income with.

4) No huge commitments and long term goal at the moment.

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Below are the investments I’m currently holding

1) 10k in P2P

2) 10k in robo-advisor

3) About 5k in Crypto

4) 10k in fixed deposit (This is for my UOB one card, as I don’t have a monthly, I was asked too put down a 10k in FD to get the card)

Not counting in my travel fund, emergency fund and daily expenses. I have about another 30k in savings that I hope to invest. So I was wondering if there’s any products that I can consider.

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So from Kenneth reply,

Would this be my best course of action?

1) 5k in SSB

2) 10k in REITS

3) 10k in STI ETF (Is this similar to robo?)

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Sorry for the extreme long message and thanks for all the help!

Hi Anonymous,

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I apologize for being curt but this kind of question is super annoying. Of course its more practical than asking this under your own name and having a bajillion pms or comments headed towards you, but I assume you want structured help and therefore your question needs an equal structure.

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Firstly, congrats on your first world problem. I assume you worked part time, saved a lot during NS or your first years of work or whatever. That kind of dilligence is commendable. Theres lot of potential there for growth.

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The problem is with what and for what reason.

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Kenneth has given a general suggestion and to be fair to him, its a very good one. If you have no crap clue what you're doing with your life, Id take his advice.

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But personally, I saved a lot after NS too and I dont like the idea of saving for saving. In fact, no matter how balanced the portfolio, even if it grows at 9% a year unfailingly, Id still be unhappy. And its because you're a 23 year old who hasnt figured out what the money is for.

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As an FA, my job is to tie your life goals with financial goals. Some people claim to be conservative investors. But when you show them that theres no way they can reach their long term goal in time (house car etc) unless they invest more aggressively, they become more balanced investors. Your desires should define what you want to do with that money - in the short, medium and long term. I say desires because if you had serious pressing unhealthy desires you would have spent a lot more of that money. So the best advice I can give you to complement Kenneth is to just advice you to think about what you want in life, what SPENDING THAT MONEY ON would give you the MOST FULFILLMENT.

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Do you want a big wedding? A big car? A big house? Do you want to give more money to your parents? Do you want passive income? If yes to something, how much? By when? Does putting aside this 30k leave you with constant regeneration of savings, or was it acquired by luck and you shouldnt use all of it? Write down specific things you want by each age and then you can realize how hard you need to work plus how the 30k would be best used.

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F

FF