I'm a 20 yr old NSF, 3 months into service with 14k savings. Is this a healthy amount of savings and what are my investment options if I have a low-medium risk appetite? - Seedly
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Anonymous

Asked 1w ago

I'm a 20 yr old NSF, 3 months into service with 14k savings. Is this a healthy amount of savings and what are my investment options if I have a low-medium risk appetite?

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Hello! 14k at your age is definetely a healthy amount! However, I think more important than how much your savings are, is that you get your investment journey started early - no matter how little.

Firstly, you can put your savings in a high interest rate savings account like Singlife to maximise your returns. Then, as Wee Wen has mentioned, you could use a robo-advisor like stashaway.

If you are a little more knowledgeable with the market, and have the time to do some research, you could open a brokerage account and start investing in individual stocks/ETFs.

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ūüĎć
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Lee John
Lee John

6h ago

Individual stocks are high risk and does not fit into his profile.
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LW
Lim Wee Wen
Level 3. Wonderkid
Answered 1w ago

Hello! Given my social circle of NSF friends, I think your level of savings is definitely healthy. Good for you! I think you might want to consider leaving your money with a Robo Advisor such as Stashaway! Their app is very simple to use and you can select your preferred risk level. If you need more cash on hand, you can simply withdraw your money at any time from the app too. Your money would be back in your bank account within a few working days :)

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Lee John
Lee John

6h ago

Robos are certainly not low-medium risk
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Yang Teng
Yang Teng
Top Contributor

Top Contributor (Aug)

Level 9. God of Wisdom
Answered 1w ago

So long you have been saving prudently and spending wisely, then that's a good start. Each of us have different starting points and background so it is not good to compare how much exactly.

For low-medium investments, you can consider short term endowment plans with guaranteed returns and capital. Returns are usually around 2%.

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Thank You!
Can you clarify
I wonder if
This is so helpful ūüĎć
What about
Post