Good news, there are a lot of options nowadays for $100 RSP.
If you are below 30 years old, most banks offer a highly discounted transaction fee. For example, OCBC's blue-chip investment plan offers buying and selling at 0.88% of the transaction amount. This means if you buy $100, you would only be paying less than $1 in fees.
If you are above 30 though, typically it will be at least $5 or $10 per transaction. In which case, you have other options to look at.
In most unit trusts investment, you can look at $100 RSP minimum too. Depending on where you buy them, you might encounter sales charge of around 2% for a non wrap account, and as low as 1% for a wrap account with 0.5% or 1% wrap fee depending on promotions and advisor.
What this means is that you can get access to advice provided transaction at $2 per transaction assuming 2% sales charge. Do note, unlike ETF and stocks, unit trusts do not charge for the selling of it. If you do decide to do a wrap account, you actually get the flexibility to switch funds at no additional costs.
You were also mentioning about monthly dividends. In the case of stocks, dividends happen on their own time table, and likely to be half-yearly. For unit trusts, you can find those that pay out monthly dividends.
In terms of unit trusts, you can also find interesting investment ideas, such as the BlackRock Dynamic High Income fund, which pays out 7%.
NOTE!! This is not financial advice or an inducement to trade. Please seek complete financial advice before making any decision.
Cheers!
Fergus
PS: Need more specific advice on your situation? Feel free to reach out to me on Instagram https://rplg.co/fergusig
Or you can find me on facebook in the Seedly Facebook group!
Good news, there are a lot of options nowadays for $100 RSP.
If you are below 30 years old, most banks offer a highly discounted transaction fee. For example, OCBC's blue-chip investment plan offers buying and selling at 0.88% of the transaction amount. This means if you buy $100, you would only be paying less than $1 in fees.
If you are above 30 though, typically it will be at least $5 or $10 per transaction. In which case, you have other options to look at.
In most unit trusts investment, you can look at $100 RSP minimum too. Depending on where you buy them, you might encounter sales charge of around 2% for a non wrap account, and as low as 1% for a wrap account with 0.5% or 1% wrap fee depending on promotions and advisor.
What this means is that you can get access to advice provided transaction at $2 per transaction assuming 2% sales charge. Do note, unlike ETF and stocks, unit trusts do not charge for the selling of it. If you do decide to do a wrap account, you actually get the flexibility to switch funds at no additional costs.
You were also mentioning about monthly dividends. In the case of stocks, dividends happen on their own time table, and likely to be half-yearly. For unit trusts, you can find those that pay out monthly dividends.
In terms of unit trusts, you can also find interesting investment ideas, such as the BlackRock Dynamic High Income fund, which pays out 7%.
NOTE!! This is not financial advice or an inducement to trade. Please seek complete financial advice before making any decision.
Cheers!
Fergus
PS: Need more specific advice on your situation? Feel free to reach out to me on Instagram https://rplg.co/fergusig
Or you can find me on facebook in the Seedly Facebook group!