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Monday, August 8, 2022
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INVESTING 65% OF SALARY, WOMAN SEEKS ADVICE ON INVESTMENT

27y/o single female, working since graduation (2017). Zero investing knowledge… attempting to learn. Since I’ve been saving all my money in my bank, currently have about $95000. I have life and health insurance.

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Investment breakdown

Take-home pay: ~$3500/month

Monthly expenses: $600 (self) + $600 (to parents)=$1200/month

Does it make sense to allocate the rest of my salary:

80% stocks 20%bond

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For the stocks portion:

  • $500- S&P500 (US MARKET)
  • $500- VXUS (INTERNATIONAL MARKET)
  • $800- NIKKO ATM STI (SG MARKET)

I’m considering topping up CPF SA (about $500/month) as the bond portion for tax relief.

I chose ETF for my investment, the stocks portion as they are well-diversified and I’m not familiar with how to pick individual stocks. My concern is that there are taxes (30%?) associated with investing in USD… does it make better sense to stick to SG market? 

No Knowledge of investments

Also, I am unsure what is the best platform to use for these transactions. Currently using an online broker (moo moo/tiger trading) for S&P500 and VXUS, and OCBC BCIP for the Nikko ATM STI. I’m concerned if online broker is safe and cost-effective in the longterm.

Finally, am I allocating too much of my budget to investment? Should I continue to save money in the bank for my short-term goals (next 8-10years) (house, car, etc).

Please pardon my noob questions. I’m reluctant to talk with financial advisors as I always feel like they are trying to sell me their products… hence I turned to this platform. Hopefully, I can get some good insights on investment, which I’ll take with a pinch of salt of course.

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Thank you very much sharing your views!

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