#AskSyfe is our new video series where we tap into the collective investing wisdom of our team and serve it up in snappy 60-second bites.
Many people they think they need a lot of money to start investing. Not true!
From as little as $100 each month, you can invest in a Regular Shares Savings (RSS) plan to gain exposure to Singapore equities. If you prefer a globally diversified portfolio, there are digital wealth managers like Syfe which have no investment minimums and low management fees.
Don’t let the size of your savings deter you from investing at the earliest possible moment. The earlier you invest, the more money you will have, thanks to the power of compounding. Let’s say you start investing $100 every month from age 25. By the time you turn 65, your portfolio would have grown to $322,108 (assuming an 8% average return).
But if you put off investing till age 45 – and start investing $500 a month – your portfolio will still only be worth $284,500. Investing even small amounts can reap big rewards. Get started today.