facebookWhat's the best way I can grow a spare fund of $10k to offset the $34k of school fees I've to pay at the end of 4 years? ? - Seedly

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Anonymous

13 May 2020

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What's the best way I can grow a spare fund of $10k to offset the $34k of school fees I've to pay at the end of 4 years? ?

I have about 10k spare cash, and will be graduating in 4 years. My school fees total to about 34k, and I'm currently not on any scholarship.
Will definitely be applying for a scholarship though! But as it's not guaranteed, would really hope to know what other ways I can grow this 10k as much as possible within 4 years!

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Just Being Ernest

13 May 2020

Content Creator at www.youtube.com/c/JustBeingErnest

You can diversify, put some low risk, med risk and high risk

high risk ones stocks and options will give you the highest and fastest returns

I make videos about interesting stuff at youtube here

1) Budgeting

Look at your current expenses and try to cut them as much as possible! This way, you will have more spare cash which will serve as your principle to invest regularly, aside from doing a lump sum investing. The power of compound interest should not be underestimated! Always be investing into your future regularly, you will be grateful to yourself in the future :)

2) Investing

I would recommend putting half the money into money into S&P500 which will guarantee about 10% returns. (around 14k after 4 years) and half into more risky individual stocks. You may consider disruptive tech company stocks, as they have shown exponential growth rates in the last few years.

Brandan Chen

07 Jun 2019

Financial Planner at Manulife Singapore

Firstly, it appears that you are new to investments, so I would recommend that you take some time to...

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