Asked on 21 Dec 2019
I'm 23 years old, working for 3 years already. Have several compulsory saving plans/methods like Stashaway ($200 per month), another saving plans ($200 per month) and an endowment plan ($300 per month). I've got a $200 additional which I would like to invest but not sure if I should pump it into my Stashaway or try out ETF through DBS like Nikko. Appreciate the opinions!
Javier, I’m 34 this year. This should allow you to understand the context of my answer.
Before you proceed any further of allocating your $, I sense that there isn’t a goal. Even there’s one, I sense no clarity in it.
All methods above are tools to reach a goal.
Do invest time to gain clarity on your goals.
I would review the insurance that I have on hand. Insurance are for protection. I previously used for future gains but I’ve switched to value investing in REITs for my goal is clearer now. Insurance used for wrong objectives are basically inefficient.
Invest time again, yes, be patient, to find a tool that you understand the most. The risk for all investors is investing in something that they don’t know.
When you’ve completed item 1 & 2, do ping back in the comments below👇🏻
2 more comments
24 Dec 2019
For me, i would prefer stashaway. Stashaway is also helping you to invest into different ETFs so in one way, you can have the best of both choices. Stashaway has low fee and it has a good basket of etf for you to expose to. So if you are looking to diversify your portfolio stashaway is a good option.