facebookI am in my Mid 20’s & have $210k in cash sitting in the bank account, I feel very stressed everyday as I know I’m not making full use of the money to invest and grow my bank account. Any advice? - Seedly

Anonymous

08 Jun 2021

Saving Hacks

I am in my Mid 20’s & have $210k in cash sitting in the bank account, I feel very stressed everyday as I know I’m not making full use of the money to invest and grow my bank account. Any advice?

My job pays me around $8k/month, I feel I should be doing more with my money but am very lost as to what to purchase. Currently have an AIA Prime Life Plan, Manulife ReadyLife Income & Prudential Life plan. Now I’m looking to grow my money at a stable pace of 4-5% yearly no need for 9-10%. Anyone has any recommendations? I’ve been reading alot of financial books and financial Youtube videos too!

I wake up everyday feeling vexed, I feel I need a place to stash my money with minimal effort.

Discussion (8)

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Sharon

24 Jul 2020

Life Alchemist at School of Hard Knocks

I'm older and I earn about half of what you earn. Shiaks, now I'm stressed... 🤣Anyway, since you're pretty new to investing and you want to grow your money at a stable pace of 4%, you can consider CPF-SA. Of course, you don't see them until decades later.
How to Get $1 Million at 65 Using Your CPF

https://blog.seedly.sg/1m65-1-million-by-65-cpf/
If you don't wish to place with SA which is kind of risk-free (I say "kind of" b'cos nothing is really risk-free, even still backed by govt. but more like it's lower risk than what's out there), then you must know that to get 4-5% elsewhere, you need to own equitities and these don't come risk-free.

Whether it's ETF bought via stock brokerages (like FSMOne RSP) / robo-advisors or funds, all are in stocks. Only difference is your amount of portfolio exposure to the stocks part.

With minimal effort, robo-advisors are a better consideration, than if you DIY for ETFs via stock brokerages. You can read the difference here: https://seedly.sg/questions/are-roboadvisors-go...

Currently, I'm with Endowus for my CPF-OA investment. So far, stress-free for me, 'cos I can't get the monies until I retire. 😂 Out of sight, out of mind. I gave my input about them in this reply: https://seedly.sg/questions/i-have-20k-savings-...

You can try with your cash. Do make sure you spread among the robo-advisors to diversify your risk.

All the best, chillax, and enjoy your youth! 😁

Endowments can command 4-5% in the longer term. They might provide the risk-return reward which you seem to fall under.

You can decide on Roboadvisers if you want the liquidity.

No lack of consultants to give advice when you have assets, choose one whom you can get along with.

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Duane Cheng

18 Jul 2020

Financial Consultant at Prudential Assurance Company Singapore

Hi there,

If you are in your mid 20s, and stressing out over having excessive liquidity in the bank...

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