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Anonymous

4w ago

I'm graduating from university in 2 year's time and currently have about $25k in my account. What should I do with it?

Should I invest in stocks? I have zero knowledge about investing and how to go about starting. What are some good platforms to recommend?

Also, what will be a good savings account to use?

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    Discussion (6)

    What are your thoughts?

    Elijah Lee

    Elijah Lee

    15 Sep 2019

    Level 19·Independent Financial Advisor at Phillip Securities (Jurong East)

    For a start, you will need to ensure that you have an emergency fund in case of emergencies. You will want to ensure that this is at least 6 months of your (estimated) expenses when you start working.

    After that, ensure that you have at least sufficient critical illness and hospitalization coverage. Your parents might have gotten you some earlier, so you might need to sit down with an independent advisor to see what shortfall you might have and address the gaps.

    After this, you will be ready to start investing. As you are still young, spend time to gain knowledge to see what your risk appetite is, and what sort of asset classes may suit you. Again, an independent advisor will be able to guide you through this.

    Platforms wise, you can consider POEMS as it is a multi-asset platform which has most asset classes on board.

    The savings account will depend on your expenditure patterns, etc. Depending on that, most people will use either OCBC 360 or DBS multiplier. To maximise usage, consider first if you are a cashback or miles person. I have answered several questions similar to yours, so browse my history to get slightly more in-depth answers.

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      Arpita Mukherjee

      Arpita Mukherjee

      13 Nov 2019

      Level 10·Community Evangelist at Kristal.AI

      Hi Anon,

      There are plenty of safe ways to invest your money and have it grow. You can go for REITs, other ETFs and bonds, but before you do that, I'd suggest you read up as much to understand what a Robo-advisor really does. Robo-advisory platforms assess your current financial position and recommend a portfolio strategy after reviewing your risk profile. These bionic advisors are still not very different from your ordinary financial advisors as both options will still have a management fee incurred for users. The difference lies with the amount, as Robo-advisors have lower management fees. And the best part is that they give you the most unbiased advice.

      You can read here for a better understanding.

      I work at Kristal.AI, and my mojo is to help people make the right financial decisions. If you think I helped you, do give me "Thumbs up". If you think my response was biased let me know, I will work on it.

      I hope this helps you make the right decision.

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        Fiona Loh

        Fiona Loh

        19 Nov 2019

        Level 5·Analyst at Deloitte Consulting

        Since you're graduating from uni in 1 year's time, i believe you're under 27.
        Firstly, have an accou...

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