AMA First Investment
Asked by Anonymous
Asked on 05 Feb 2019
You haven't felt the need to spend on a house or wedding yet, but you do have a leg up. I would suggest splitting your cash into medium and short term funds. Short term funds should have a 3 day waiting period to resist the urge to spend. Medium term funds should be growing above 4% and locked for periods at a time. Focus on gaining knowledge first. Always remember, never give away what advantage you have, build on it. Increase your exposure to financial literature.
While you are still thinking where to put your money, put it in Singapore Saving Bond (SSB) now. Once you know a better option, then withdraw from SSB.
Have you spoken to any Financial Consultant?
I would encourage you to do so.
Your actions will lead to reactions/consequences.
Equiped yourself with the knowledge to increase the number of choices you have.
Only then, a decision with a consequence you can bear will be made.
Look around on Seedly - there are a lot of articles to get you started!
Also, there are many financial blogs out there that can help you :)
Gain some knowledge first before putting money into any form of investments. It is important to know what you are doing.
Alternatively, you can put your money into high interest savings account, Singapore Saving Bond or Fixed Deposits!
Also, do have an emergency fund you can tap upon, in case you require money for any form of emergencies.
Start learning from blogs and google first. You should have join seedly personal finance event, it has a lot of good stuff to give you a head start but tickets alr sold out. Alternatively, you can go look at their blogs and take your time to read them. The informations are good for beginners like you. You need to set aside an emergency funds of 6 months expenses first then you can use the rest to invest. You have to find out your risk appetite to see which kind of investments suit you as well. There are a lot of ways you can invest your money so it is important to find out which is better for you and learn about them.