Asked on 01 Mar 2020
What are some good investments for me at my age?
It's good that you are starting out now. Good job :)
My advice is that its importance to increase your financial knowledge first and understanding your personal risk appetite! This would require some effort put into research and self-reflection.
Some questions: "Am I investing in hopes of realising it all in the future to fund my child's future education/buy a house?" or "Do I want it to be an alternative source of annual income that can come in terms of dividend?"
Important thing now is do not rush into buying popular stocks now just because they're cheap. You need the financial knowledge first to pick good stocks and evaluate them yourself. The notion of what goes down will come up worked in the last recession but this one seems to be an unpredictable battle to be honest.
I would recommend investing 50% in a market portfolio like S&P500 ETF as it historically yields 10% return and has a general upward trend. Another 50% can be other individual stocks that you like and see a potential of 10% return. Diversification is always important. There is no reward for bearing unnecessary risks.
While building up your knowledge, you can think about investing in low-risk savings plans (e.g. from banks, SSB) first to gain some extra interest, instead of keeping cash in the bank.
tldr; If you are sure you will not need that $500 monthly for the next 10 years(at least), DCA i...
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