I have excess money at the end of the month, should I deposit into these robo-advisory platforms?

Well,

Well, I set up a StashAway account this year and transfer less than $100 into it from my SLS funds every month. LOL. But I think this small step has: 1) motivated me to transfer my money to SLS so that I can benefit from tax savings, 2) whetted my appetite for investing (which is why I’m at Seedly now.)

Once I grow more comfortable with these platforms, I will pump in more money.

btw if you haven’t heard of Singlife yet, go check out the reviews yet. The returns are non-guaranteed but Singlife is presently dishing out 2.5% interest per year for your first $10k.​​​

I think platforms like StashAway is pretty good.

StashAway is pretty good and I see that it has great potential for future growth. Make sure you know your risk appetite and understand the consequence of your chosen risk levels or you may be shocked if your value plummets significantly for high risk portfolios.

If not, you may consider high savings bonds or SSBs to fight against inflation. If you are okay with more risks and don't mind the slightly more troublesome process, look into investing in S&P 500 as it has a historical return of 10%.​​​

Hi Harrish,

As per previous replies, it is important to set aside at least 6 months of emergency fund. Thereafter, it will be good to set an investment goal for yourself, i.e. if you would like to save up for a house downpayment or retirement. You can explore AutoWealth planning tool at https://www.autowealth.sg/advisory_module.php This will help you to plan your goal, understand your risk profile, and the recommended portfolio to attain your goal.

The minimum to start a portfolio is SGD3,000. Thereafter, your idea of putting in $100 monthly is a good dollar cost averaging strategy and discipline way of investing. You can set up a standing instruction with your bank to deposit this fund on a monthly basis, making it a very passive and hassle free investment for you.