I'm turning 18 this year and I need some help on the accounts I should open. Any advice?

You should keep your monies in Singlife for the 2.5% interest for the first $10k.

For investment, I will really advocate passive investing with robo advisors or ETF RSP.

Hi there,

Glad to see that you have decided to start early towards financial independence!

Even if you have set aside $2000, and you are a medium-high risk profile, you still might be hamstringed in terms of how aggressive you are able to go with your investments.

When i opened my trading account when i was 18, there was not alot of documents needed for the application. However, today if you are 18, and you do not have the prerequisite knowledge in terms of investing, joining a platform will not give you access to the full range of investing instruments. So do have the expectation, that you will have to start more conservatively.

Most of the accounts you have listed such as Singlife and Jumpstart, require high amounts of liquidity, which you can equally achieve using a high-yield account from the 3 main banks.

In my opinion, you can look at your bank's trading account for a start to establish some investment experience, concurrently you can open up a FSMOne account for yourself to familiarise yourself with what is available in the market. Stashaway is also a good option to start.

In my opinion you can look into Vanguard's ETF, as they have a low expense ratio compared to most. You can reference here, to have a better idea of what ETFs to look at for yourself.

Just dont get carried away at this point in your journey, go through it systematically!

Hope i was able to answer your question!​​​