How can I start investing with only $100 - $300 per month? - Seedly
 

Investments

CPF

Savings

Asked by Anonymous

Asked on 16 Oct 2019

How can I start investing with only $100 - $300 per month?

Hi.

1) I do have an investment account that I opened many years ago not sure it’s still activated. How can I check the status of investment acct?

2) How to invest using CPF? Currently, we have some investment that is on Asian fund and it’s like up and down almost the same since day 1 invested?

3) Which bank or reliable agents we can get advice to start investing and see a better return?

0

Answers (5)

Sort By

Most Upvote

  • Most Upvote
  • Most Recent

Hi,

1) You'll have to go back to the broker you opened the investment account with to check. (I assume you are talking about a trading account) Most of the time the account will still be there, and probably just needs a reset of password to be usable again.

2) Do you mean you currently have an Asian fund that is already invested via CPF OA monies but hasn't changed value much? Then you are already set up to invest via CPF OA. I don't recommend using CPF SA to invest due to the high interest. If that is not the case, you need to open a CPF OA investment account with any local bank to invest CPF OA monies.

3) I'd recommend looking for an independent financial advisor who carries a wide range of products, so as to have better access to the instruments on the market. Have a conversation with them and see who you are comfortable to work with.

0 comments

5

Hi Anon,

There are plenty of safe ways to invest your money. You can go for REITs, other ETFs and bonds, but before you do that, I'd suggest you read up as much to understand what a Robo-advisor really does. Robo-advisory platforms assess your current financial position and recommend a portfolio strategy after reviewing your risk profile. These bionic advisors are still not very different from your ordinary financial advisors as both options will still have a management fee incurred for users. The difference lies with the amount, as Robo-advisors have lower management fees. And the best part is that they give you the most unbiased advice.

You can read here for a better understanding.

I work at Kristal.AI, and my mojo is to help people make the right financial decisions. If you think I helped you, do give me "Thumbs up". If you think my response was biased let me know, I will work on it.

I hope this helps you make the right decision.

0 comments

2
Lean Sing Ding
Lean Sing Ding, Client Experience Lead at Endowus
Level 3. Wonderkid
Answered on 17 Oct 2019

Hi there!

1.) Are you referring to your CPF Investment Account (CPF IA)?

If you are - Here is how to look up your existing CPF Investment Account Number: - Login to CPF website with your Singpass to access my CPF Online Services - Navigate to My Statement Section C - Click Investment - You will see your agent bank and the CPF Investment Account number.

2.) Assuming you already have a CPF IA - you are already ready to utilize your CPF Monies to invest. But as there is a multitude of instruments catering to different sort of investors with different goals, risk appetite - please ensure you understand the risks and costs involved in the instrument you are interested in before investing. Please see https://www.cpf.gov.sg/Members/Schemes/schemes/optimising-my-cpf/cpf-investment-schemes for more information.

If you do not have a CPF IA account - just head to your respective local bank (DBS/UOB/OCBC) websites - they would have information to guide you to open the account.

3.) There are a multitude of banks/financial institutions/robo-advisors/fee-based advisors for you to choose from. Many people have different experiences with these different platforms - my encouragement to you is to began to read widely - there are good financial blogs out that do comparison of different platforms and modes of investment. Personally, the best place to start investing - is to invest in one's financial knowledge. As mentioned there are many free educational materials online - just google and start reading it. Armed with basic financial knowledge - you have given yourself the best chance of success.

All the best!

"Be Globally Diversified, Keep cost low, and Stay Invested"

0 comments

1
Dexter Tiah
Dexter Tiah, Founder at Whatcard.sg
Level 4. Prodigy
Answered on 16 Oct 2019

Try using a robo-advisor. I personally use StashAway. It's not bad.

0 comments

0
Heah Min An
Heah Min An
Level 4. Prodigy
Answered on 16 Oct 2019

My 2 cents:

  1. Dig out where you created this account
  1. Invest in a tool that you understand. Having knowledge of the tool gives me a better idea of how I expect returns and reduces investment risks. Risks come from not knowing what I'm doing.
  1. Considered investing in your own education before seeking advice?

0 comments

0