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
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Anonymous

Posted on 07 Jul 2020

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.

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5 answers

Discussion (5)

Wow, congratulations for saving so much money in your mid 20s.

For one, You can consult a financial advisor to see what's your risk appetite and decide which investment products would be suitable for your long term needs.

Alternatively, you can read up on investment books and financial planning related posts to boost your investment knowledge. I would highly recommend you to start with these 2 books to kickstart your journey to managing your own finances:)​​​

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Post

Aaron Leow

Aaron Leow

Level 13. Grandmaster

Posted on 19 Jul 2020

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.

2

Loh Tat Tian

Loh Tat Tian

21 Jul 2020

The Risk Based capital framework is changing, that 4%-5% is slowly moving to non-gauranteed too.. which is sad for the newer endowments. If your runway is long, equities/bonds can typically beat 4% easily if you can ride the risk. (bearing in mind surrendering endowments before 20 years carry the same risk for 20 years of lost). 60/40 can acheive the same effect but hope OP can take it haha!

Aaron Leow

Aaron Leow

21 Jul 2020

I totally agree. Changing economic environments, changing structures.

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If after, as you quote, still feel vexed after "reading alot of financial books and financial Youtub...

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