Investments

[loveboon]

Hello everyone, I would like to enquire on ways to invest. I am currently in my second year of study in a local polytechnic and will only graduate in April 2015. I have saved up approximately $10k SGD and planning to use it to fund my university studies after my national service.

However, here comes the question. Are there ways to invest this $10k and make it grow or is saving slowly the only way to increase it?

Please enlighten me on what should I do as I really hope to fund my own university study instead of asking my parents to shoulder this burden. TIA!!

 

[Zenkuke92]

Thats actually quite a lot of savings you have for bring a poly student! hahaha. i am one too (; lol.
I think best is to do some reading on what type of investments suit you, eg, if you want slow and steady, join some local banks investments savings plan. If you can take risk, open a forex/stock trading account with brokers (IG MARKETS, CITY INDEX ETC) . And obviously some form of research will help.

 

[Alex.hero]

Thats actually quite a lot of savings you have for bring a poly student! hahaha. i am one too (; lol.
I think best is to do some reading on what type of investments suit you, eg, if you want slow and steady, join some local banks investments savings plan. If you can take risk, open a forex/stock trading account with brokers (IG MARKETS, CITY INDEX ETC) . And obviously some form of research will help.

Need to be of certain age to open trading acc right?

 

[Zenkuke92]

Need to be of certain age to open trading acc right?

yes you have to be at least 18year old. For Singapore based brokers, you have to declare a lot more information compared to US/UK brokers (Alpari etc..). But the advantage is that the brokers are situated in Singapore hence it is more convenient when lodging claims or disputes.

 

[RockyHero]

Hello everyone, I would like to enquire on ways to invest. I am currently in my second year of study in a local polytechnic and will only graduate in April 2015. I have saved up approximately $10k SGD and planning to use it to fund my university studies after my national service.

However, here comes the question. Are there ways to invest this $10k and make it grow or is saving slowly the only way to increase it?

Please enlighten me on what should I do as I really hope to fund my own university study instead of asking my parents to shoulder this burden. TIA!!

U will be better off putting your money into a structured deposit or fixed deposit for a longer tenor. Investing in CFD/FOREX/STOCKS is a no no as you will be taking high risk with something you need a few years later. If you have a 3-5 years time horizon and ok with medium risk, you can consider bond funds, but then again you are not guarantee to make $.

Since it's for your university i will suggest parking them into a structured deposit of fixed deposit if you have no clue on investment and risks.

Good Luck

 

[chopra]

1 year poly
2year ns
4year uni


you can consider bonds/fixed deposit

 

[kingsfall]

Stocks are too volatile for just 3 years. Bonds payout is pretty shitty considering the low interest rates... I also dunno where to put Haha

 

[Darkzi0n]

u need to be atleast 18yo to set up account i think... n some trading platform requires u to put deposit if u r under 21... iOCBC for example, requires u to put $5000 deposit iirc.

 

[ramlee]

1 year poly
2year ns
4year uni


you can consider bonds/fixed deposit

No bonds please. Once they raise interest rates, the price will plunge

 

[limster]

No bonds please. Once they raise interest rates, the price will plunge

is there a cost-effective way to short bonds if we are betting that bond prices will drop?

 

[SpeedingBullet]

No bonds please. Once they raise interest rates, the price will plunge

err, if u hold your bonds till maturity (which i think is what chopra meant), u don't lose any money no matter the price.

 

[tatose]

err, if u hold your bonds till maturity (which i think is what chopra meant), u don't lose any money no matter the price.

Rather, you incur opportunity costs.

 

[Shiny Things]

is there a cost-effective way to short bonds if we are betting that bond prices will drop?

Not Singaporean bonds, no. It's a piece of cake to short US, UK, Japanese, German and Australian bonds, because there are listed bond futures - but not in Singapore.

 

[lynex]

Of all I think you should not do trading if you have no idea what is trading.. so read up first before u decide on trading...

 

[chopra]

I will have to ensure that the capital is guaranteed to pay for the education. I can't see where else can he park besides fixed dep and bonds. threadstarter schooling in singapore?

 

[ramlee]

err, if u hold your bonds till maturity (which i think is what chopra meant), u don't lose any money no matter the price.

But TS needs the marnee for school fees, he has no holding power

 

[wahkao3]

err, if u hold your bonds till maturity (which i think is what chopra meant), u don't lose any money no matter the price.

chances of losing money are very low

 

[Limexx]

Which fd is the best now for around 10k? ?

 

[Hymnody]

put them inside cimb starsaver for the 0.8% p.a

 

[chopra]

there are fixed deposit with more than 0.8percent. do a search on "latest deposit" sticky thread.