facebookI have a savings of 10k, entering ns soon. Should I use part of the money to invest now or keep all 10k as emergency fund and only start investing with my ns income? - Seedly
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Anonymous

Asked on 12 Aug 2020

I have a savings of 10k, entering ns soon. Should I use part of the money to invest now or keep all 10k as emergency fund and only start investing with my ns income?

I intend to invest $200-300 monthly with my ns income into ETFs. Should I invest now or wait? Will 10k be too much for emergency funds? Cause I want to max out amount for Singlife to earn the maximum amount of interest. Would love to hear some suggestions.

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Hello!

Consider splitting your 10k into Standard Chartered JumpStart account (1% interest), Singlife (2.5% interest, not guranteed) and StashAway Simple (1.9% interest, not guaranteed). Only invest when you are sure that you have enough emergency funds to self sustain and consider your risk appetite and time horizon. Robo-advisors can be an area to look into as they are rather customizable and take into account your risk appetite and financial goals. Such examples are StashAway, AutoWealth, EndowUS, Kristal.AI. ​​​

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Thank You!
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In this case, I would recommend still continue parking your $10,000 as emergency fund in Singlife because it will serve a good buffer for any rainy day as well, need not to be emergency. Sounds like a reasonable amount too as well.

On the other hand, it sounds good to invest a portion monthly of your NS income to ETF and start building your portfolio as you will be able to participate in the market at a very young age and add more funds in the future.

Overall, it looks like a promising good start!

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Thank You!
Can you clarify
I wonder if
This is so helpful 👍
What about

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Hi Anon,

The amount of emergency funds you have depends heavily on your monthly expenses. If you wo...

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