Alcander Seow
Environmental Engineer Minor in Business at Nanyang Technological University
Hi, I'm currently 18 years old, coming 19 in 2 month time. For 2020, planning to increase my capital, be more financially savvy, reduce unnecessary spending. With that being said, at what age should I start investing? How I can reduce unnecessary spending? What can I do to be more financially savvy? What insurance should I get? E.g. AIA vitality, Medishield, etc How to be more productive in both my financial activities & my studies?
P.s. Going to internship soon so a part-time job is a no go.
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Tan Li Xing
05 Jan 2020
Financial Consultant at Prudential Assurance Company (Singapore)
Hi Alcander,
I think in regards to what you can do for your age is to focus on saving and also your studies as your income stream is still not constant and I'm unsure if during the internship, there will be CPF contribution. For the internship period, how long is it?
Also in regards to looking into an Integrated Shield Plan, I think you might only want to look into it when you have a full time job, unless you do have $ in your medisave, or your parents are willing to contribute to the premiums of the policy through their medisave
In regards to investment, I think once you have a stable income and have most of your basic coverages and liabilities and obligations settled, you could start looking into it
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Pang Zhe Liang
02 Jan 2020
Fee-Based Financial Advisory Manager at Financial Alliance Pte Ltd (IFA Firm)
Firstly, we need to have a complete understanding on our cashflow. Through this process, we will und...
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At what age should I start investing? you should invest asap provided you are fiscally ready (income exceed expenses, emergency funds in place) & financially ready ( a good understanding of the various asset class out there, risks involved, whats your investment strategy and objective)
at what age should I start investing? Read up (books, bloggers, youtube, discussion forums), and implement (knowledge is best served in the form of hands-on experience, take small baby steps for a start)