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Anonymous

Asked on 19 Oct 2020

I have about 9k in my savings account but i am new to investing. Any suggestions on how much I should invest to grow my money?

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KA

Khairudin Ali

Level 4. Prodigy

Answered on 19 Oct 2020

Don't rush into investments. Everyone on this planet is eager to make money but it always comes with a risk.

Make sure you and your beneficiaries are well protected with insurance.

Emergency funds are well set up with at least 6 to 12 months of your monthly expenses amount or your gross salary.

Learn as much as you can abt investment. Before dipping your toes in investing because in this investment world, there are losers and winners and winners don't always win.

Learn and try in small amount. Stomach loss and mitigate risks.

Happy investing !

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Khairudin Ali gave good advice.

To add on, try to find the answers to some of these questions, it may help you get started.

  1. What is an index?

  2. What is an ETF?

  3. What are the different asset classes?

  4. What constitutes passive investing?

This list is by no means exhaustive. I would advise against investing even in a roboadvisor if you do not know what they invest in and what their value proposition is.

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Thank You!
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