Any tips for a newbie investor entering NS soon?
Hi everyone :)
i am entering ns soon around july (pes BP)
so per month i should be taking away S$560 per month.
assuming that i am gonna spend $200 per month on misc things like going out with friends for dinner occasionally .
i have $360 to spare per month.
i also have additional 1k per month from my client work
so taking that i spend a little and save most.
i have 1.3k per month to utilise.
i am overwhelmed by the options so im asking whats the best way to start?
thanks so much! :)
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Billy
14 Jan 2020
Development & Acquisitions Manager at Real Estate Private Equity
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Take your time to study during your two years of services. Most likely, you will be stay in and you will have plenty time to read up. As your training will be during office hours, I will advise against playing any penny/speculative stocks as you will not be able to monitor them at all.
I once brought some penny stocks and went outfield. Was trying my hardest to get reception and most training area has no reception. Worst experiences ever...
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I think just save it! And spend the time reading up on investing. Then take 10% of your savings to try and invest, and from there see what works best for you!
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Bjorn Ng
23 Dec 2019
Business Analyst at 10x Capital
Hey there!
Very simple pointer - Save as much as you can. Eat in cookhouse as much as you can, stay in as much as you can. And also, try not to party so much. HHAHA. Because I was like that.. I saved zero penny from my NS pay.
With as much as you save, for a new investor, begin your journey by reading, a lot. to grow your wealth, consider opening a SC Jumsptart account to earn 2% interest on $20K. You can also consider to park some into SSB first if your current bank account is giving the measly 0.xxxxx% interest.
Digest the information slowly, take some time, and you will not feel overwhelmed soon to come :)
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Hello Ming Wei! It's very nice to see a young person like you being so prudent with your finances. Y...
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Given how you'll be in NS, time wouldn't be on your side, hence, you could consider applying Regular Savings Plan on a portion of your allowance into an ETF, dabble your toes into investing. Save up the remaining. I'm sure you'd have admin time during NS days so when you come across that, allocate it to expand your knowledge on investing and once you ORD, you'd be equip with a lumpsum of savings to cherry-pick stocks!