I'm 25 this year, just started my full time job. And am trying to plan for my future. Just signed a life plan and shield plan. What should i do next? Retirement plans, savings plan or investments? - Seedly






Asked by Anonymous

Asked on 03 Apr 2019

I'm 25 this year, just started my full time job. And am trying to plan for my future. Just signed a life plan and shield plan. What should i do next? Retirement plans, savings plan or investments?


Answers (5)

Sort By

Most Upvote

  • Most Upvote
  • Most Recent
Paridhi Jhunjhunwala
Paridhi Jhunjhunwala, Associate at Kristal.AI
Level 7. Grand Master
Answered on 12 Nov 2019


Congratulations on starting you full time job. It looks like you have covered your insurance needs already. The next priority is to have an emergency fund which covers 4-6 months of expenses.

I would suggest looking at invstments and have retirement and savings planning as financial goals while creating your investment strategy. If you are new to investing, you can start by reading about it so that you can take an informed call. Also, you can try using a robo-advisor, which can help you in getting an asset aloocation based on your risk profile for a lower fee than a financial planner.

I work at Kristal.AI, and it's my passion to evaluate various upcoming investment opportunities.

1 comment

Question Poster

12 Nov 2019

I've just started a plan with ifast, hope it's enough for investment.

Start by setting aside 6 months of your expenses for emergencies.

After that, invest 20-50% of your income.

Break down your short term, mid term, and long term goals and quantify them. A marriage, a first home, children, children education, a second home, retirement, etc.

How much would these cost you and when do you have to start paying for them.

Start understanding our CPF and how each accounts work as well.

When you have a clearer roadmap, you can make better decisions to get there.


Question Poster

12 Nov 2019

I've tried reading up on cpf but it's still confusing. any tips or tricks for it?
Hariz Arthur Maloy
Hariz Arthur Maloy

12 Nov 2019

Lots of articles on Seedly, AreYouReady, Dollars&Sense, and CPF's website on CPF Planning. Your financial advisor should also be extremely versed with CPF's functions. You need to understand individual uses of the accounts, interest owed, and milestone events at age 55 and 65.
Frankie Aufhauser
Frankie Aufhauser
Level 7. Grand Master
Answered 1d ago

1 emergency funds

2 passive indexing ETFs (U.S., global, a bit of China, Switzerland and Scandinavia

3 a bit of physical gold

everything periodically for price averaging



Hi Anon,

Congrats on getting your full time job. I think in regards to insurance coverage, you have done the right things by getting your hospitalisation covered and also you life covered.

In regards to what to do next, I believe Hariz did mentioned that you should look at building up your emergency funds. Which is a good to have in our current time and age.

Also what to consider now? I think retirement plans are something you can look at maybe later in life when most of your financial commitments have been settled, or when you feel that you are ready to look into this, as all Singaporeans already have a Retirement plan that the government has enforced, which is CPF life. Having another retirement plan is to further enhance this, so it's good to look at maybe in your late 30s or early 40s.

Savings plan or investment? I think it depends on what you are looking for, technically if you do get a savings plan, it does act like an investment as well, as most savings plans are participating policies in nature, meaning your premiums are used by the insurer to make investments, and the returns from the investments are declared as bonuses to you on an annual basis. And the investments done by the insurers are generally safer in nature, so you can be more assured of your returns. Do note that one good part about a savings plan is that, it's not as volatile as pure investments, because insurers will smooth out the bonuses for the saving policy, meaning regardless if the economy is doing good or not, your annual bonus for the policy stays in the same range throughout.

But of course if you do want better returns, then do consider investing. I would suggest to do both investments and having a saving plan to balance out your portfolio


Level 6. Master
Answered 2d ago

First of all, congrats on getting your first job. As you are only 25 and have a long way to go, you should start investing in stocks to further grow your wealth. But do note that you do not commit all your money in the stock market as you might need them if you are buying a house or getting married.