Asked 3w ago
Currently giving her $200 allowance each month, together with my 2 siblings, so she will have $600 each month for household purchases. This is actually a surplus and she don't know what she should do with the money.
I believe that $50 is really too little for DCA to see much of a difference. The costs would probably be of a greater concern.
If you really want to go ahead, I personally use Stashaway and I can attest for its user-friendliness as well as its performance.
I think buying toto/4D with that $50 have a higher chance of success, as $50/month is so neglible to made any meaningful impact down the road
I think it depends on the comfort level of your mother. if the idea of investing in a robo-advisor freaks her out, maybe you can get her to contribute this $50 (or $100 as recommended by Junior Loh) into her SRS and then invest into StashAway funds using her SRS funds. at the very least, she will be able to get some tax deductions.
This is what I have been doing - top up my SRS funds and then channel them into my StashAway portfolio.
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