Any thoughts on my personal savings for a final year university student? - Seedly
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Anonymous

Asked 3w ago

Any thoughts on my personal savings for a final year university student?

Hi, final sem undergrad here. Would like to listen to your opinion on how personal savings is doing.

I have about 15k of savings where about 8k (started with 5k in early 2020) is investing in stocks IBKR holding long term investment stocks like TDOC, SE, TSLA, DKNG. Currently, I didn't buy any ETFs or Robo-advisor as I feel that personal stock picking might do better than the overall market, but might buy ARK ETFs after I graduate. Would you advice to put more money towards investing now?

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    Do you have any liabilities to pay off? Like student bank loan. If no, can set aside 6 months of your expenses and invest more

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    Question Poster

    3w ago

    No liability
    Thank You!
    Can you clarify
    I wonder if
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    Congrats on securing your new job offer! Other seedly members have offered their invaluable piece, and I would like to value add to their collections. When you receive your mthly salary, you can follow the famously quoted 50-30-20 % allocation that follows the needs-wants-saving order. In addition to that, you should have 3 different bank accounts, of which, 1 for savings, 1 for investment, and 1 for spending. This enforces discipline in your money allocation as well as tracks inflow and outflow.

    As for personal stock selection, it is perfectly alright not to get ETFs or Robo-adviser. Do what serves your interest best. More often that not, we like to "copy"/follow others' portfolios but bear in mind that their risk tolerance and objectives are different from you. There is no one-size fits all solution.

    IMO, I think placing more money into investment seems to be the best way of allowing money to work for us, especially in a seemingly bull market condition

    On a side note, I am vested in TSLA, ARKK, ARKG, TDOC, and SE too. I do not possess any other ETFs besides ARKs nor any robo-advisors.

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    Thank You!
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    Hi Anon,

    I think ARK ETFs are a great choice, you can check out the new ARKX that will probably be listing soon.

    As a hedge for potential inflation, you can check out the crypto space too! I would reccomend at least having 1% of your portfolio in crypto.

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    Thank You!
    Can you clarify
    I wonder if
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    Hi, having read your replies to the various comments, I understand that you have secured a job starting in July. I'm not certain the size / reputation / industry of the company but if it were me, I would rather err on the side of caution and save up 1 year worth of expenses at this moment. There is always the possibility that the company might retract the offer, and if they were to do so, your 6 month savings would've dried up. Nothing is guaranteed till it happens and its still quite some time away. At least if that situation were to happen (Which I hope it doesn't), you'll still have some savings for you to search for another role.

    It's not about when you invest, its about how you invest

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    Thank You!
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    15k saving. 8k in stock. Means $7k in bank?

    Chill 1st. Get a job 1st, even you have no debt. Job hard to find in this current market. Grass don't taste good.

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    Question Poster

    3w ago

    Yes, roughly 7k in bank (2k singlife, 4k jumpstart 1k ocbc) and I have secure a job offer already, will be starting in July
    YJ

    YJ

    3w ago

    Then can invest. Just leave some in your bank for urgent use
    Thank You!
    Can you clarify
    I wonder if
    This is so helpful 👍
    What about
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