27 Feb 2020
I'm 22 this year just started working with $2.5-2.8k salary. Thing is, I have ~$39k savings. With a relatively low starting salary but quite a lot of savings, how should i plan my future finances?
I have 25k in a fixed deposit for 3 years, 2018- end 2020, at GE 2.2%, 14k in Bonus+ bank account) What should i do with my money in the long run? I have read a little about investments but i'm not sure if there are other ways to grow my money. I'm risk-averse when it comes to investing. With a relatively low starting salary but quite a lot of savings, how should i plan my future finances? Just applied my first credit card. Intending to get married in 3-4 years.
Good to see that you're already doing so much to save and grow your money.
You can start by not putting all your eggs in one basket. An ideal, successful portfolio requires thought and you must analyse each and every one of your investments rigorously before you invest. You might find this process daunting, which is why it is more beneficial to build your investment portfolio slowly over time, rather than rushing into making a ton of investments quickly. Allow yourself the time and space to grow and learn before diversifying or rebalancing anything. Of course, if your advisor tells you to do something specific, you should certainly take that into consideration too!
Here's something more elaborate.
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As you have some big ticket items to spend on in the next few years, I would suggest putting your mo...
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