I am a fresh grad and will start working in July. Are there any investment plans I can tap on to build my finances? Thank you! - Seedly
 

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Asked by Anonymous

Asked on 22 Jun 2018

I am a fresh grad and will start working in July. Are there any investment plans I can tap on to build my finances? Thank you!

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Marcus Goh
Marcus Goh
Level 4. Prodigy
Answered on 22 Jun 2018

A good start for you to kick start your investing journey!

Some of the preferably considerations you could take into includes:

1) Making sure you are insured (Insurance Policy)

2) Have two bank account (1 for expenses and 1 for investment that have high interest rate savings account)

3) Have a good portion of around 6 months of income or expenses as emergency savings

You could start planning your financial roadmap like allocating your monthly salary in the 20% savings, 50% expenses and 30% wealth or something that suits you better.

Some of the investment plans that you could starting tapping on is STI Exchange Traded Funds (Passive Investing) by employing Dollar Cost Averaging where you put out a fixed amount of sum every month to accumulate shares no matter the different market conditions.

E.g

Date Price Shares Cost

Jan 20 5 $100

Feb 15 6.66 $100

Mar 10 10 $100

April 18 5.55 $100

Total 27.21 $400

Avg Price Per Share $14.70

So basically you average out the price during a long term period of investing where you accumulate more shares if prices dropped and accumulate lesser shares if prices rises. You could start this as little as $100 on POSB Invest-Saver on autopilot mode where they will deduct on your account $100 every month and buy shares on your behalf.

Insurance - https://blog.seedly.sg/working-adults-what-are-the-key-insurance-policies-you-should-get-in-singapore/

High interest rate - https://blog.seedly.sg/best-savings-accounts-2018/

Financial Roadmap - https://blog.seedly.sg/working-adults-allocate-your-monthly-salary/

Dollar Cost Averaging - https://blog.seedly.sg/working-adults-easiest-ways-to-invest-a-monthly-sum-for-beginners/

STI ETF - https://www.posb.com.sg/personal/investments/investing-in-funds/invest-saver

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Tan Wei Jie Shawn
Tan Wei Jie Shawn
Level 3. Wonderkid
Answered on 29 Jun 2018

Bonds (Government such as SSB and corporate ), equities (STI ETF, Blue Chip stocks), P2P Lending (at a rather infant stage) and many more you can research on! :)

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