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MT2020

Just an average Singaporean who loves his bubble tea and chicken rice

MT2020

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Just an average Singaporean who loves his bubble tea and chicken rice

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MT2020

  • Answers (362)
  • Questions (0)
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General

Investments

I just started my first job and I have a RSP. I am interested in investing in other stuff however I am only going to turn 21 in a few months. Should I wait until I'm 21 to open a brokerage account? ?
MT2020
MT2020
Level 7. Grand Master
Answered on 09 Mar 2020
You are still young, it would be good if you can study more about investing first. the RSP is a good start for you.
šŸ‘ 0

Investments

Stocks Discussion

Can anyone advice on when we should sell a stock? Recently a stock that I have been able to drive down the average cost showed a 6% gain. Unsure whether I should sell it now?
MT2020
MT2020
Level 7. Grand Master
Answered on 09 Mar 2020
There is no right or wrong answer, some people might sell the stocks because they feel that is overvalued while some sell because they need the money. It depends on you.
šŸ‘ 0

Investments

Savings

General

I'm in my 20s and I have some emergency cash stashed aside. My plan is to save up a separate sum of money just for investing, Am I being too prudent?
MT2020
MT2020
Level 7. Grand Master
Answered on 09 Mar 2020
Yes, that is the right mindset. It is good to have at least 3-6 months of emergency fund. Only invest what you can afford to lose.
šŸ‘ 0

Dividends

Investments

REITs

SeedlyTV S1E05

My question is, what do I do with my dividends as they are in small amounts and cant be easily reinvested into most companies. Any advice on what to do with my dividends? and also any areas I can improve on regarding my portfolio.
MT2020
MT2020
Level 7. Grand Master
Answered on 09 Mar 2020
You are still very young, you can accumulate the dividends into a larger amount before investing it.
šŸ‘ 0

Investments

Should i borrow money from the bank to invest if for example interest on my loan is 6% and i can make 10% then i should do it since i can earn enough to pay for interest?
MT2020
MT2020
Level 7. Grand Master
Answered on 09 Mar 2020
You should not borrow from bank as much as possible. you must account for emergencies as well. What if you are unable to work. This will cause a lost of income and you will not be able to pay back a loan.
šŸ‘ 0

Investments

REITs

SeedlyTV S1E05

At what stage in my investing journey should I start looking and investing in REITs? Assuming i'm new to investing with little experience. Also, is there any market conditions that would make REITs more favourable in your opinion?
MT2020
MT2020
Level 7. Grand Master
Answered on 09 Mar 2020
It would be good to start as early as possible. this is to alow compounding to take place. A low interest rate would allow reits to thrive as they rely on gearing.
šŸ‘ 0

DBS Multiplier Account

Interest Rates

Savings

Savings Accounts

What is the interest rate after the first 25k on DBS multiplier? Is it 0.05% (standard bank interest rate)? If so, should i park my money (in excess of 25k) elsewhere for higher interest?
MT2020
MT2020
Level 7. Grand Master
Answered on 09 Mar 2020
If you are between the age of 18-26, you can consider creating a standard chartered jumpstart accounts which pays an interest of 2% per annum.
šŸ‘ 0

Savings

General

Investments

Would you save your money in an investment plan (projected interest rate at ~7-10%) or save it in the bank (interest rate at 0.05%) or save it in a savings plan (interest rate at 3%)?
MT2020
MT2020
Level 7. Grand Master
Answered on 09 Mar 2020
7-10 % interest is very high. Please check what is the company doing with your money. The last thing you would want is for you to not get back your principal in full.
šŸ‘ 0

Savings Accounts

Do you guys have a separate savings account or put all your money (expenses + savings) into the bank account that gives the most interest?
MT2020
MT2020
Level 7. Grand Master
Answered on 09 Mar 2020
If you put all your money in one account, there will be a tendency for your to overspend. That is the reason why people will keep their money in 2 seperate account.
šŸ‘ 0

Investments

Savings

Robo-Advisors

National Service (NS)

Hi, im 20 years old currently waiting for ns. I have just started investing a sum of money on Stash Away, and i would also like to learn other ways of investment for my current situation. Any advice?
MT2020
MT2020
Level 7. Grand Master
Answered on 09 Mar 2020
Congratz on starting on your investment journey. Seedly has many great information on how to get started. You can also head down to the library to borrow books about investing to improve your knowledge.
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