Asked 3d ago
Yes, I agree with the rest, generally its more beneficial if you are able to invest for a longer time horizon. However, there are options for short term investments but that won’t be with stocks.
For example, a few months back Great Eastern was offering a short term endowment plan for 2 years. Of course, we have to manage expectation with how much returns we can get.
Ultimately, with investing try to go with a view of accumulating wealth slowly, rather than getting rich quick (:
Many good investment books; intelligent investor is a good start.
Yes, but it has nothing to do with the robo, but with the stock market, at least for stocks the investment horizon should be more than 15-20 years ideally.
As what others have mentioned, 1 year is far too short, be it with robo-advisors or any other platforms, but let me illustrate how unwise it is to be to have such a short time horizon.
Using the Rule of 72, we know that for any given % in returns 72/x would give us the years that it takes for the investment to double. If we were to aim for 10% returns, we would still require 7.2 years to double the investment.
I'm not sure if any robo advisor is able to generate 72% returns for you within a year.
Time is your best friend when it comes to investing.
Give it at least 3-5 years, one year is barely enuf time for stocks to recover fully from a downturn
1 year is definitely too short. If you are looking for somerhing decent, I think minimum of 3-5 years?
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