I have a DBS Multiplier account and would like to use their Regular Savings Plan (RSP)to purchase funds/ETFs? - Seedly

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I have a DBS Multiplier account and would like to use their Regular Savings Plan (RSP)to purchase funds/ETFs?

The DBS agent mentioned that we can only put in a constant amount of money every month. Is that fine? I was thinking of doing dollar cost averaging every month and put in different amount depending on the prices but RSP doesn't allow for this if I want to maximize my multiplier account. Is it still okay to go with a constant amount every month?

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Constant Dollar Amount is good for RSP.

Say prices go up, you buy fewer units with a fixed $200. Your current assets rise in price anyway, so not a bad thing.

Prices go down, you buy MORE units with the fixed $200. Your current asset dropping in price, but you are averaging per month.

May not sound like much, but do it regularly monthly for a few years, you will appreciate the consistent investments that add extra growth.

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Cedric Jamie Soh
Cedric Jamie Soh

2d ago

Yup i think having RSP set up is good. Just make sure you choose a provider that is low fee. recommend for good reading... ehm wow thats a long time since my last investment books, and i don't want to recommend what I am reading now, coz its mostly trading and higher risk stuff. https://www.facebook.com/gary/videos/798702687152620/UzpfSTU5NjQ0MDcyMDoxMDE2MjE2NzYzNDAxMDcyMQ/ maybe this video will reinforced the idea, its not timing the marketing, its BEING IN THE MARKET.
Max Trimble
Max Trimble

2d ago

Thanks again, Cedric. I see that you do options trading too. Would it be okay for a beginner like me to read up on it and slowly ease into that too as part of investing?