Asked by Anonymous

Thinking of taking my money out of robo-advisor and putting it into UOB one account or Citibank? What's the community opinion on that?

Was using Autowealth for about a year and 2 months now, it was performing well until the recent drop which results in it's gain dropping to 1.06%. Which is lower then my bank account. Was thinking of withdrawing it for the time being and putting it into STB or just my account, would like some advice on whether the community think it's a good move

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  • Loo Cheng Chuan
    Loo Cheng Chuan, Founder at 1M65 Movement
    Level 6. Master
    Answered on 07 Nov 2018

    I would excuse myself from this topic as i am not a subject matter expert on this.

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  • Hariz Arthur Maloy
    Hariz Arthur Maloy, Independent Financial Advisor at Promiseland Independent
    Top Contributor

    Top Contributor (Mar)

    Level 7. Grand Master
    Answered on 07 Nov 2018

    You just bought high and about to sell low. Worst thing to do when investing.

    If prices are dropping and the investment philosophy is still sound, you should be adding in more money not taking it out.

    We're going through a market bump, nothing big yet but everyone's losing money.

    Time in the market is more important.

    In fact, I suggest you to not look at your returns for the next 3 years if possible.

    You'll only make money in the market in the long run, not in the short.

    Please make sure you know what you're investing in, what your portfolio comprises of before investing. If not, you'll make mistakes like this.

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