Asked by Anonymous

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 (Mar)

    Level 6. Master
    Answered 2w ago

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

    Top Contributor (Mar)

    Level 7. Grand Master
    Answered 2w ago

    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
      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?
      1w ago
    • Hariz Arthur Maloy
      There are both equity and bond funds that will pay out dividends. :)
      1w ago