Which investment product will you recommend someone new to investment who can only afford a monthly amount of max $300 or one-off $1k to $3k? - Seedly

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AMA SG Budget Babe

Asked by Anonymous

Asked on 14 Aug 2018

Which investment product will you recommend someone new to investment who can only afford a monthly amount of max $300 or one-off $1k to $3k?

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Dawn Fiona
Dawn Fiona
Level 5. Genius
Answered on 14 Aug 2018

Regular Saving Plan (RSP) such as through POSB InvestSaver for a start. It diversifies your capital across Singapore's biggest listed companies on the stock market even though your starting capital is smaller.

Your one-off sum, if regularly put in, can easily buy you 1 - 2 stocks each time while minimising brokerage fees so that it is worth it. Over time, that can build up a good starting portfolio.

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