What’s a best way for a NS enlistee to maximize their monthly allowance? (INVESTMENT)

Hello, just enlisted not too long ago and i'm starting to feel the financial crunch despite being in camp most of the time. Used to take home around 2.8-3 as a filmmaker but did not utilize my income very well. Barely did any investing other than crypto.

I'd like to start investing, did a risk appetite test and i'm medium to high. What's the best way to maximize my monthly allowance of $630 in investing? Should just part out 80% of my allowance and buy S&P500 ETF? Or should I diversify?

My short term financial goal would be to have enough money (around 50k) to start a business

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Eiscue

06 Nov 2022

Etfs are usually for long term tho, can consider other investments to attain your short term goals

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Trader Deekay

04 Nov 2022

You are looking to grow the monthly allowance (whether it's 80% or any other x% of it) into 50k within a 'short period of time'. Investing it in S&P500 at a 4%-5% p.a., you will probably get there around 6 years. But if S&P500 is going downtrend in the next 1-2 years, it will take longer!

If you are thinking of faster than that, then an option is to take a portion of the monthly allowance and grow it at higher than 4% (i.e. shorter term trading usually with much higher return % wise), and channel the proceeds back into the 4% investment portfolio so that you could fast track $50k goal.

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1M45

Edited 29 Oct 2022

Buying S&P500 is diversified. If you can live off 20% of your allowance then investing 80% will be g...

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