Asked on 14 Jan 2020
What are the perks of using Stashaway? Is it a good place to start my investing journey? If not then what other apps would you suggest?
The perks of using a robo-advisor is that you dont have to actively monitor your investments and still get a respectable return. You can literally set and forget if you so wish. Just make sure to choose a portfolio that suits your risk appetite if you do not intend to monitor it closely. Robo-advisors also give you easy access to global ETFs which you may not be able to purchase on your own in small units. On top of that they manage and rebalance for you for a small fee.
It's a good place to start investing, but if you're talking about learning how to invest, it may not teach you as much since you're only leaving money in without really handling it yourself. You probably want to read up yourself, or attend a course. If you are interested, perhaps you can find one here: https://seedly.sg/reviews/investment-courses
Ultimately, even in the robo-advisor space, Stashaway isn't the only option, though their app does make things very easy for you. I'd do my research on which robo suits me best based on their offerings/fees before committing. Or you can even try multiple at once!
You can read up more here before deciding: https://seedly.sg/reviews/robo-advisors
StashAway is good for beginners like myself to actually get started and be exposed to investing. It was super easy to sign up and the app makes it so much more convenient to monitor my portfolio. You just need to decide your risk appetite and put in money to start earning some passive $. However, so far, the returns haven't been super great. So you might want to consider other robo-advisors (https://blog.seedly.sg/singapore-robo-advisor-investment-comparison) which suit you more.
But that being said, I wouldn't say that my knowledge about investment has improved since I started StashAway. Because I wasn't actively trying to understand how the different mechanisms work since everything is being automated for me. I still find that books or online courses might be a better way for you to start learning how to invest.
I just started putting money into Stashaway as well. Some background info about myself, I am mostly clueless about investments... My investment portfolio is basically everything my dad advised me to get. But recently i started with Stashaway and it is very idiot proof, you literally put money there and watch it grow. All you need to do is give them some information on your income and your risk appetite and you're good to go. Would really recommend it to anyone starting out.
As i got into Stashaway, I started doing more research on my own, which got me started in blue chips as well.
I think it can be a good way to start.
And Stashaway do provide some free seminars that you can attend.
Despite that its a passive investment, I would suggest ppl to understand the underlying ETF that they are buying, at least you know what you are doing and what they are doing.
Super fuss free UX UI experience too. Depending on your RISK appetite you adjust accordingly and can put however much money you want! There's always other apps like moneyowl, Kristal.AI etc.
Sign up with my link and get up to $10,000 SGD managed for free for 6 months!
Invest WITHIN 3 MONTHS time of account opening for the code to enjoy the benefits.
Roboadvisers are fuss-free, easy-to-invest tools that are available for varying levels of risk and planning needs. App-wise, Stashaway is relatively easy to use, and clear in tracking your overall performance details. Hence it is good for beginners. It has lots of articles in-app so you can also slowly take time to understand about investment as a whole.
Let me know if you'd like a referral. You get up to $10,000 SGD managed for free for 6 months.
Yes robo investors are definitely good ways you can start on your investment journey. This is because these robo investors has a relative low fee charge of 0.6% on avg, whilst investing to global markets. Hence this will let you understand how investing in Exchange Trade Funds works and the fundamentals of it. Best part is that most of them do not have a min sum required, and no regular monthly input, which can reduce your finance commitment by a ton!
With that being said, do start reading and learning on how to invest. Websites like Seedly.sg, dollarandsense.sg , moneysmart are good sites to turn to and kick off your investment journey!!
Yes, it definitely a good app to kick start your journey. Start really small and experience the volitility of the market. Get use to see paper loss, don't get too happy when you see profit.
Meanwhile do read up more on investing, consider opening a brokerage account if you are confident enough.
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