facebookWhat do you get the best balance for investing when you don't have clarity of an employment contract? - Seedly

Anonymous

06 Jan 2021

General Investing

What do you get the best balance for investing when you don't have clarity of an employment contract?

Potentially employment gaps happening?

  • Couple of more months to the end of contract
  • No clarity on renewal
  • Which product would be ideal? CPF top up, StashAway ETF via SRS or FSMOne to buy?

Discussion (4)

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Jiayee

06 Jan 2021

Salaryman at some company

Priority:

  1. Emergency savings (6 months' worth of expenses or some other ballpark number)

  2. Savings for short-term financial goals

  3. Spare monies can then go to investment

Many people think of investing as a way to make money. However, I'd like to caution against that thought. Always remember that there's also a probability that you may lose part/all of the invested capital.

Hence, here's some questions to ask yourself:

  • Can I afford to lose this sum of money in the worst case scenario?
  • Will I need to re-deploy this sum of money for other foreseeable/unforeseeable needs?
  • What is the time horizon I'm looking at for investment?

Hope this helps.

None of the above, if you do not have minimum one year of expenses saved up. You should be saving an...

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