facebookHi i’m going to be serving my national service at the age of 24 which means that i will be able to start work at 26, my question is how much capital would i need to have a small share as a beginner? - Seedly
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Danial Shah

Asked on 15 Nov 2020

Hi i’m going to be serving my national service at the age of 24 which means that i will be able to start work at 26, my question is how much capital would i need to have a small share as a beginner?

I worry that i won’t have enough funds to thrive in Singapore, and i want reliable and solid backing on how can i invest and start earning income that is not just sustainable, but also to have more than enough for rainy days.

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myfinancemarathon

Level 5. Genius

Answered on 15 Nov 2020

If you are looking at the stock market, you should at least have $10,000 before you start. With at least 10K, you should be able to diversify your holdings.

Otherwise, you can consider getting ETFs which is a basket of stocks. With a much lesser amount, you would be instantly diversified and reducing your risk.

Last but not the least, you can consider Robo-advisors like Syfe, StashAway, and many more. You can start as little as $1 and these platforms will help you to invest into ETFs/Mutual Funds for you.

I have recently done an article comparing the returns I got from StashAway, Syfe, and DBS digiportfolio. Do check it out if you are interested.

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