What should I do? Im going 30, female, single and self employed. Salary range from 3k to 3.6k. I do not have any liability, I wish to grow my wealth and have extra to lead a comfortable life? - Seedly

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Asked by Anonymous

Asked on 15 Apr 2019

What should I do? Im going 30, female, single and self employed. Salary range from 3k to 3.6k. I do not have any liability, I wish to grow my wealth and have extra to lead a comfortable life?

How should i invest when i have zero background? Should i buy singtel stock for e.g, at $3.17, or should i use stashaway for a short term 3 - 5 years portfolio. Of cus, i can always have another portfolio. How should i start? Would love to hear your recommendation.

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Junus Eu
Junus Eu
Top Contributor

Top Contributor (Aug)

Level 8. Wizard
Answered on 16 Apr 2019

I personally started off with picking my own stocks that I had a strong conviction for, and went from there. My rationale was that I wanted to learn for myself, instead of relying on others to invest on my behalf.

It's great that you do not have the liability - which really gives you more flexibility with your savings.

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If you have zero background in investing, you have to decide first if you're planning to learn a lot and then DIY your investment.

If you're not going to DIY, you can instead purchase a financial product. You can easily set up a portfolio using a Robo Advisor or a Financial Advisor. But still make sure that you know enough to understand and not go in blindly. Please also note that if you don't understand what you're investing in and why, you may make the common mistake of selling low when markets aren't in your favour.

I would suggest that you start building a portfolio that pays some dividends immediately and also a portion of it purely for long term capital gain. As a single with no dependents and liabilities, you have the chance to build financial independence and retire a little bit more everyday until you build enough regular streams of income to replace your need to work.

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Gil Khoo
Gil Khoo

18 Apr 2019

Hi Hariz, came across this and i would like to ask, what are some portfolio that pays out divident? Are you talking about bonds or stock?
Hariz Arthur Maloy
Hariz Arthur Maloy

18 Apr 2019

There are both equity and bond funds that will pay out dividends. :)