Asked on 12 Aug 2020
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.
Shania Loh, Seedly Student Ambassador 2020/21 at Seedly
Answered on 14 Aug 2020
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.
Aidan Neo, Financial Services Consultant at Manulife Financial Advisers
Answered on 12 Aug 2020
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!
The amount of emergency funds you have depends heavily on your monthly expenses. If you wo...
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