If you're between age 18 and 26, can go for Standard Chartered JumpStart 2% on first $20k. No salary credit or spending criteria, just like a flexible FD

Invest in yourself. The learning should never stop once you step out of school. There are many things in life not taught in school. You are your biggest financial asset. Take time to explore your interests and passion. Increasing your human capital takes time, as with all other types of financial investments. Whilst you're still earning a basic income as a fresh graduate, perhaps it's also good to look at your financial health and start on the right note. Build your emergency fund, keep expenses in check, and thereafter systematically save and then invest on a regular basis to reach your future goals. There are many ways to invest. MoneyOwl offers one way which works for most people. It is relatively easy to get started with just $50/month, and no lock-in period (as in the case of endowment insurances). This should give you a good feel of investing in the markets https://advice.moneyowl.com.sg/the-right-way-to-invest would be a good read for someone just starting out, with a myriad of choices available on the market. I wish you well in your career and investing journey!

Three questions to ask yourself: 1. Do you wish to stay in a government/restructured Class A/B1 ward or private hospitals? 2. Do you want to be able to choose your doctor? 3. Are you willing to pay a higher premium when you no longer have an income? If you say yes to any of these 3 questions, then you should definitely consider buying an integrated shield plan. It is also important to note that there is a post-hospitalisation period when you may be required to revisit for follow-ups etc. The cost of your medication is also tagged to your ward type during hospitalisation. (e.g. The same bag of medication may cost $100 when discharged from class A ward, but may cost $50 when discharged from a class B2 ward due to government subsidies) There are a number of insurers offering up to 1 year of post-hospitalisation coverage. However, it all comes at a cost. Talk to an advisor and work out your budget and long term affordability before committing to an integrated shield plan. The last thing you want to do is to buy and find out you can't afford the increasing premiums as you approach your 60s and be forced to downgrade your plan or even possibly lapsing it totally.

Invest in yourself. The learning should never stop once you step out of school. There are many things in life not taught in school. You are your biggest financial asset. Take time to explore your interests and passion. Increasing your human capital takes time, as with all other types of financial investments. Whilst you're still earning a basic income as a fresh graduate, perhaps it's also good to look at your financial health and start on the right note. Build your emergency fund, keep expenses in check, and thereafter systematically save and then invest on a regular basis to reach your future goals. There are many ways to invest. MoneyOwl offers one way which works for most people. It is relatively easy to get started with just $50/month, and no lock-in period (as in the case of endowment insurances). This should give you a good feel of investing in the markets https://advice.moneyowl.com.sg/the-right-way-to-invest would be a good read for someone just starting out, with a myriad of choices available on the market. I wish you well in your career and investing journey!

Hi Anon, Glad that you have realised the importance of starting early in investing and doing the due diligence before signing the policy. Perhaps the first question you need to ask is why are you investing. Do you have a future financial goal you are working towards? Thereafter you need to align your need (based on any shortfalls to your financial goal), your ability (as determined by various factors), and your willingness to take a risk in investing. The thing to note on costs associated with an ILP. There are many types of costs (refer to the product brochure from page 12 to 15 :O https://myaxa-singapore.cdn.axa-contento-118412.eu/myaxa-singapore%2F739a870f-8bef-498f-bf78-bb8cb72f3ac8axa+wealth+accelerate+ps+v2.1clean.pdf) Many times, the client overlooks this portion of the contract and gets persuaded by the eye-catching bonuses being paid on top of whatever returns you may get. These bonuses that are paid to you have to come from somewhere. Insurance companies are not charities. Another point often overlooked is that costs also compounds with time. As your portfolio grows, the % costs grow together. Another point to note is on the commitment period with ILPs. Regardless of how short the Initial Contribution Period (ICP) is, how many premium holidays you can take, the commitment is still the term of the policy. i.e. If you decided on a 20-year policy, you have to pay for 20 years. Will your circumstances change after the ICP? Do you want more control in that you can choose to stop investing without having to pay account management fees at any time? Say you decided on a particular fund and go ahead, and decide to switch to another fund several years later, you are limited to only the funds offered by the insurer. Should your desired fund be offered by another insurer, you are unable to switch insurers. As rightly pointed out by Cedric, most of these funds offered by insurers are available on other investment platforms. There might be a selling point should it be an Accredited Investor (AI) fund unavailable to the retail client. However, it's the same story regarding the many layers of costs involved in the maintenance of the ILP. Successful investing for an individual is not about maximising returns or even maximising risk-adjusted returns (returns in return for the risk undertaken). It is about getting the best probability of meeting your financial goals so that you can achieve your life goals. With as little guesswork, and as little stress as possible. Perhaps you might want to have a read at https://advice.moneyowl.com.sg/the-right-way-to-invest. There are many ways to invest and ILP really isn't the best way. Seedly has a wealth of information on the many investment instruments available too! Be aware of the options available, read up more, and compare around before deciding :)

Just a point to note on distribution upon death. Group policies don't allow for the nomination of beneficiaries and will follow Intestate Succession Act. It may not be the way you intend to distribute.

Hi Anon, The Seedly community is filled with plenty of information for the uninitiated. I'm sure you can find most information you require regarding investments. First you need to ask yourself what is the objective of you investing. Most likely, it is to address the impact of insufficient returns as you are building your current asset to a bigger future asset for your personal financial goals. Thereafter you'll need to align your need (based on your objective above), ability, and willingness to take risk. There are many investment instruments available in the market. It's about finding the right instrument which is aligned to your personal objectives for a positive investing experience. https://advice.moneyowl.com.sg/investment might be a good place for you to learn more about a way of investing which is more likely to be suitable for most people like yourself.

Agreed with Hariz on readiness of the investor. You need to be clear of your investment objectives. Your need, ability, and willingness to take risks also need to align with your financial goals. A platform is just a place for you to execute your investments. Perhaps it might be good to consider the adviser's alpha as well? In down markets, the ease of selling away with a click of a button may work against you. The key to a successful investing experience is to stay invested. It may sound crazy but at times, doing nothing may be the most difficult thing to do. Having the option for you to talk to someone amidst the volatility of your investment journey is definitely a plus.

Hi Anon, It is encouraging to see young individuals like yourself keen to start investing early. The effects of compounding over the long term are definitely in your favour. Your time horizon is also much longer than most people and that translates to a higher ability to take risks. Agreed with Elijah on the need to first build your emergency fund before you even start investing. There is a sequence to financial planning and it starts with building a strong financial health. Investing is a marathon, not a sprint. Before you go for one, it's advisable to look through a few ratios such as emergency fund for liquidity and debt service ratios assuming you are servicing a study loan. Thereafter, a good way to get started is probably to invest small amounts on a regular basis to capitalise on the effects of Dollar Cost Averaging. DCA will be a more assessible way to invest for the young and just starting out. MoneyOwl offers $50/monthly investment amount to help you get started. The more you read, the more you know. Read about the many instruments available to the retail investor in Singapore. Learn about the risks involved, relevant regulations etc. Some investments are more complex than others, some are more costly than others. You then need to ask yourself why are you investing. Aligning your need, ability, and willingness to take risk will help you gain clarity ahead of your journey of investing. https://advice.moneyowl.com.sg/the-right-way-to-invest/ should provide good background knowledge for a beginner investor like you.