How exactly do I use StashAway? Do I just put my money every month and wait for it to grow or do I need to adjust anything? - Seedly

Investments

Asked by Anonymous

Asked on 13 Nov 2018

How exactly do I use StashAway? Do I just put my money every month and wait for it to grow or do I need to adjust anything?

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Amanda Ong
Amanda Ong

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Level 3. Wonderkid
Updated on 07 Jun 2019

Hi there, just thought I'd jump in to help you with your question.

My name is Amanda and I work at StashAway. We keep it as flexible as possible for our clients- there is no minmum deposits, you can deposit anytime you wish, you can set a standing instruction with your bank to make monthly deposits or choose to stop your deposits anytime you'd like.

We do however, recommend clients to keep investing through regular contributions in order to reap the rewards of dollar-cost averaging. You can read more about it here: https://www.stashaway.sg/r/dollar-cost-averaging.

By investing a fixed dollar amount on a regular schedule, regardless of market conditions, you will purchase more shares when prices are low and fewer shares when prices are high. This ensures that you will invest at a reasonable price and exchange rate, and avoid investing at market tops, helping you to manage the risk of your investments. Therefore, reducing the probability of making a large investment at an unfavorable price/exchange rate, especially considering the volatile markets in recent months.

With that said, investing steadily and consistently into a diversified portfolio, while maintaining a long-term perspective, will definitely have a bigger influence on your long term returns.

I hope this helps!

If you have any further questions, please feel free to drop us an email at [email protected], our team will be happy to help! :)

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Question Poster

15 Nov 2018

Thank you ☺️
Yong Kah Hwee
Yong Kah Hwee
Top Contributor

Top Contributor (Feb)

Level 6. Master
Answered on 13 Nov 2018

You do not have to adjust anything. The algorithm will do it for you.

I'd just like to correct you on one thing: depending on the time horizon of your investment using stashaway, you might not be able to 'grow' your money. There is no certainty that your money will grow if you do not invest long-term.

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Gabriel Lee
Gabriel Lee
Top Contributor

Top Contributor (Dec)

Level 6. Master
Answered on 13 Nov 2018

All you need to do is to set your risk profile and StashAway will automatically help you to build your portfolio based on your risk level. You can choose to either deposit money every month which is also known as Dollar Cost Averaging or deposit a lump sum. You do not need to do anything else as StashAway will also automatically rebalance your portfolio for you.

If you're wondering how does your risk level affect your portfolio, you can check out this question asked by another community member to get some insights - https://seedly.sg/questions/i-was-trying-out-stashaway-and-smartly-when-they-were-asking-about-my-risk-preference-i-get-the-general-concept-of-how-risk-adverse-you-are-how-does-the-percentage-you-put-in-actually-affect-you

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