Asked on 11 Mar 2019
The best advice for you is no advice. Just actions
For benefit of doubts,
You could lose more money for being ignorance.
Ask yourself this question, how much or how far do you want to earn money from investment?
Ascending orders (from 0)on how much energy or brain power to make a decision or action:
Option 1: savings - earning 0.05%interest (0 energy - because you already have one)
Option 2: CPF (0-1 energy because garment help u unless you are freelancer)
Option 3: RSS. Easiest to open dbs invest saver.(2options to choose). 3 other RSS ( Phillips, maybank, ocbc - not lazy enough to learn to choose counters) (energy varies based on difficulty of applications)
Option 4 (if not lazy to open cdp accounts) - buy SSB ( 3-4 energy)
Not lazy to sign up online for robo advisor?
Hmm choose which one?? (3-5 energy)
Not lazy to talk to financial advisor? Endowment plans - earning 2-4% interest? Guaranteed principal + capital??
Wait, do you know how to differentiate between a ilps and endowment plan?
(6-10 energy based on travelling time to meet one and how talkative or informative the advisor is)
i think you can opt for regualr savings plan that banks such as POSB offer where you only need to invest a regular amount monthly. Or you can also invest in cpf or SSB since these are safer forms of investments.
However i think it is still important to know a little background of the investment you are doing before engaging in any investment!
Want to invest to make $ + lazy to read = invest in endowment plan with guaranteed returns 😄
Purchase guaranteed products then. Govt bonds, endowment, annuities.
Read don't read, still make some money.
Go for investment courses, or learn about robo-advisors, Regular savings plans, Singapore Savings Bond, etc.
Otherwise, try to be happy with the meagre amount of interest you get from banks. No such thing as making money if you are lazy.
There is no free lunch in this world. If you are lazy, you probably should not think about investing at all.
Failure to do your own due diligence may cause you to lose rather than earn money.
Would suggest you read up about ETFs at the start.
You can buy safer investments such as
singapore savings bonds
until you read or learn about investment or if you want to go through the school of hard knocks then you can go into stocks investment.
sometimes going through the most painful way is the fastest way to learn.
Go for investment courses and shortcut your learning by engaging in the mentor's system. Then pay for perpetual trade alerts.
You take a lot of your trust, wrap it up in one big gift wrapping ball and hand it right over to a Financial Advisor who you think deserves it.
Along with your money.
Seriously though. It's either got to be guaranteed products or a hell lot of trust/competence.
Robo advisors or unit trust are some stuff you can consider but i still strongly recommend that you read up about personal finance and investments.