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Anonymous
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This post is no longer accepting new comments because it has been merged with How should I begin investing as an NSF?
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Gabriel
07 Jun 2019
Undergraduate at National University of Singapore
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Jay Liu
28 Sep 2018
Accounting and Finance at ACCA
Investment plans: Index investing, P2P, robo-advisors. Savings accounts: CIMB fastsaver. Alternatively, you can put into SSB.
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Jonathan Chia Guangrong
27 Sep 2018
SOC at Local FI
Save As You Serve would be the best for regular savings contributions when you are in NS. Other than...
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When you enlist into NS, open a POSB SAYE account online and deposit some of your monthly salary into that account as it gives you additional 2% interest after you ORD. This is assuming that you do not make any withdrawals during the 2 years. If you do, you'll forfeit the additiona 2% interest that you could've earned. This makes you save up for your future funds or education. You can then use your remaining salary to go out and enjoy with your friends/family. I'm currently contributing $400 per month into my POSB SAYE account.
Alternatively, you can open a CIMB FastSaver account to earn 1% interest with no obligations and you're able to withdraw anytime as well.
You can easily invest in the STI ETF (Nikko AM) by setting up a Regular Savings Plan with POSB. All you need is just $100 a month to begin investing. Alternatively, you can choose to invest in US ETFs through robo-advisors such as Stashaway or Smartly. I'm currently contributing $100 per monthly into Stashaway as I want to diversify my investments out of the Singapore market and due to better historic performance. With that said, historical performance isn't a measure/indiciation of future performance. Alternatively, if you have a higher risk appetite, you can consider venturing into P2P lending and stocks. I'm planning to try P2P lending soon as it offers attractive returns (with higher risks of course). I have a friend in NS who invests in US stocks and made quite a profit as well but of course, you can easily lose money as well. Please only invest with money that you can afford to lose.