AMA Christopher Tan
Asked on 21 Jan 2019
Even though im not Christopher but ill put some of my thoughts as well.
You should first learn more about investment because there are a lot of things you can invest in such as stocks, bonds, CPF, commodities, options, property, loans and more. Stocks itself have a lot of different styles like ETFs, value, growth, robo advisors and so on. You have to see which kind of investment suits your goal and risk appetite. You can simply start by going to Seedly blog to learn or google. Just take your time to learn first. Dont invest in things you dont understand because thats just gambling. Good luck!
If You're thinking of stocks, then passive indexing ETFs would
be my method of choice.
You could read some ideas here:
There are so many different ways to start. But first, you should look at yourself and find out your risk appetite. Next, you can read some books or go online to research about the different types of investments available. For beginners, the best way to start is through a regular savings plan or a robo advisor for diversification. once you are more comfortable with those and gained more knowledge, you can start to move on to individual stocks.
There are many ways around it, what is your risk profile like? You might want to do an analysis on that before you see what options there are.
Also, have you worked on your emergency funds? It should be abt 6 months of your monthly allowance as a guideline. So if you have that, yes, do explore investing, but do also ensure your protection coverage has been done as well.
Find out how to invest first. Read up, ask on seedly. Find out what is your risk appetite like, what is your personality when it comes to handling money or investing. Once you have this, find an investment instrument that meets your risk profile and personality and go from there. Take baby steps, learn more, rinse and repeat. It's a journey, not a race. Unless you are itching to retire now in which case you need something more supercharged (like managing options, trading futures or forex)
If you want to start investing, first you should know more about investing. Seedly has loads of articles to get you started. Reading some investment books would be good too. Sgbudgetbabe has an article of some books worth reading: http://www.sgbudgetbabe.com/2017/07/recommended-books-on-personal-finance.html
You can also read up on investing on the various financial blogs that can be found online!
You should also try to find out how your risk appetite is like. If you are risk averse, you can go for fixed deposits, SSB, etc. If not, you can look more into stocks, REITs, bonds, etc.