Asked on 09 Apr 2020
I have read some articles on seedly and decided to take charge of my own finances. I have found the best savings account for me which gives me a 2% interest p.a. but it is not enough for me to be financially free in the future as I want to be able to earn more than just that 2%. I also have a level 4 risk asia portfolio with DBS which I do not plan on touching until 10 years later. What do you think I should do next, to further increase my methods of financing?
As a young adult the problem is lack of capital. I would recommend focusing on managing your expenses and finding ways to increase capital.
Hi Xenon, I'd focus on earning more money or adding streams of income before fretting over savings accounts or investments, as no % of return will be higher than earning a few extra hundred dollars every weekend for the time being.
So before you enlist and even while enlisted, focus on making more money first.
Also do make sure you have your emergency fund done up as well before investing.