Where would you invest your money at 25?

Originally Posted by Unregistered

Why broke?
Juat take the 30k stock and bonds to fully pay off your student loan first. Then you are debt free. Its easier to build wealth if you are debt free. For starters it gives you a choice to choose a job that you want to do rather than a job that pays the most but one that you know will make you miserable juat because you have to pay your loans.

Agree...Dave Ramsey would scream in that guy's ear if he heard how crazily that guy us mismanaging his money.

I am currently 27 YO, earning $3.5k/month (before CPF deduction). Started working since I was 21 when I first graduated with a diploma. I saved really hard for my part time degree and fully paid off 20k of it, which I finally attained in end 2019.

Have a 4-room BTO coming in 2022 Q3. Wedding in Jan 2022.

Cash Savings: 60k
Investments (SGX): 28k (just started in 2020)
CPF OA: 58k

I want to reach financial freedom ASAP as I am dreading every single day of work. I hate my job so much and I just think of quitting everyday.

Please advise on better ways to grow my money and how do I reach financial freedom?

Originally Posted by Unregistered

I am currently 27 YO, earning $3.5k/month (before CPF deduction). Started working since I was 21 when I first graduated with a diploma. I saved really hard for my part time degree and fully paid off 20k of it, which I finally attained in end 2019.

Have a 4-room BTO coming in 2022 Q3. Wedding in Jan 2022.

Cash Savings: 60k
Investments (SGX): 28k (just started in 2020)
CPF OA: 58k

I want to reach financial freedom ASAP as I am dreading every single day of work. I hate my job so much and I just think of quitting everyday.

Please advise on better ways to grow my money and how do I reach financial freedom?

I guess your real question is how do you get rich quick so that you can quit your awful job and start living the luxury life that was preached by Internet "gurus" but at the same time not lose all that you saved. Well the answer is there is no such thing. The reality is the higher the risk the higher the return. You either take huge risk to earn huge amounts or you take long time but with marginal returns

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[gerasimus]

Consider investing in low-cost index funds, maybe some individual stocks if you're up for the risk, and definitely focus on paying off any high-interest debt.

[gerasimus]

Originally Posted by gerasimus

Consider investing in low-cost index funds, maybe some individual stocks if you're up for the risk, and definitely focus on paying off any high-interest debt.

When I was 25, I was all about setting myself up for financial success, and one thing I wish I'd known about was what is a backdoor Roth. It's a clever way to save for retirement even if your income is too high for a traditional Roth IRA. I'd definitely look into that if I were you!

[kumgong]

Honestly, when you are young, you can take more risk given your relatively longer runway. I would invest part of my money in something high yield like crypto