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As a university student, where should I put my $10K into?
I have the $10K in my CIMB FastSaver account and was wondering where I should put this money into. I’ve a UOB One account already. And a DCA $500/month to the STI ETF.
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Hmm...are you parents helping you to pay off your tuition fees/have a scholarship? Do you have additional income/allowance monthly? Do you have a confirmed job offer? Which year student are you currently? This are some factors you have to take into account first before proceeding on.
Assuming your tuition fees are fully paid, no additional cash inflow and have a confirmed job offer/Y1or 2, I suggest you can invest in bonds to diversify your portfolio. If you havent enter into the STI ETF for too long, you may want to consider robo-advisors (stashaway, autowealth, etc) since those invest in overseas markets too and may have higher rates of return compared to domestic market.
If you do not have a confirmed job offer and you're in the last 2 years of uni, I would suggest keeping the 20k in CIMB (~6 month's worth of salary) as emergency funds and the chance you are unable to find a job quickly (touch wood)