facebookI am a fresh grad with around $5k in savings. Where can I start to invest? Should I go for roboadvisors like Syfe or RSP or Vickers? - Seedly

Anonymous

12 Jun 2020

General Investing

I am a fresh grad with around $5k in savings. Where can I start to invest? Should I go for roboadvisors like Syfe or RSP or Vickers?

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Joey Gaeth

12 Jun 2020

BSc Economics at London School of Economics and Political Science

I'd suggest you start off with DCA monthly into some robos, Stashaway for global exposure and income growth, or Syfe 100%Reit for dividend gains. But do take not that commission for Stashaway is 0.8% and Syfe is 0.65%, based on your $5k.

Firstly, $5k is not a lot of money and might not be worth doing a lump sum investment, esp into US big tech stocks. For eg, an amazon stock price is currently valued at US$2528 which means with your $5k, u can only buy 2 shares at most. So to save on currency conversion fees, platform fees and dividend withholding, i'll say the best for u is to start off with local stocks.

You can create a CDP account and use DBS Vickers as your brokerage. It has the lowest commission fee (but only for buying) of $10 and your stocks go directly into your CDP. You can sell your stocks by linking your CDP to FSMOne. Selling fee is $10 too.

Go to libbyapp.com and login via your NLB account, and go borrow as many personal finance / value investing books. Borrow books that are written from a practictioner perspective. Can start with beginer friendly:

The Five Rules for Successful Stock Investing by Pat Dorsey

The Ultimate Dividend Playbook: Income, Insight, and Independence for Today's Investor, Josh Peters

If books are not your cup of tea, there are a couple good US financial youtubers to follow

Graham Stephan: https://www.youtube.com/channel/UCV6KDgJskWaEck...

PPCIAN: https://www.youtube.com/channel/UCXtrYuGksGkkyl...

Good question! It really depends on your preferences and comfort making investment decisions. [Robo ...

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