Asked on 03 Nov 2019
I'm in year 2 of my university studies (under fully paid scholarship so no student debt)
After accounting for emergency funds, I still have ~$10k left and am thinking what's the best way to invest this for max returns?
risk appetite is high
looking at long term investment gain
currently, already investing via funding societies, StashAway and DBS unit trust
If you ask me, you belong to the group that can technically lose the whole 10k. If you have trading knowledge, can consider setting up an account with a broker for the US market.
Their commission is low and you can swing trade. However, do not invest more than what you can.
Glad to hear that you have accounted for emergency funds! That’s a mistake that many don’t do.
If you have prior investing experience, you can continue diversifying into different blue chips. But proper research and analysis are required.
If you would like a more stable approach that is already diversified, you can look at Index or ETFs, or funds. You can invest them yourself using accounts like navigator or iFast, or you can use financial instruments that can assist you with that.
How I personally will divide the 10k
I will set aside $4800 Into the financial instrument for the first year, then the remaining money put it into a fixed deposit or put them into a high interest savings account like Standard Charted Jumpstart. Then when the 2nd year comes, the FD would have matured. Put the money for the 2nd year into the instrument. Then continue for approx 10 years.
Speak to a financial advisor that you trust and I’m sure he/she would be able to assist you further
Hope this helps. Let me know if you need any clarifications. Cheers!
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