Need general advice for a teenager!
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Hi I am 16 year old this year. I have $2000 - $3000+ from birthday money, money from festivals, etc. I cannot trade as I am not old enough for stock trade and such, so how can I invest and turn make more money out of this money I already have?
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That's not alot of money, you need at least 5k to start somewhere.
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Fixed deposit.
Ask your mummy go bank with you. =)
1.25% for 3 year deposit with RHB Bank and Maybank. -
That works out to be an impressive $37.50 of interest earned annually based on $3k, woohoo!
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Better than keeping it at normal bank account.... 0.125% a year... 10 times lor....
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Well, that's true, $37 is more than $3.75.
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Originally posted by Junyang700:
Fixed deposit.
Ask your mummy go bank with you. =)
1.25% for 3 year deposit with RHB Bank and Maybank.
Hi Jun, 3 yr fd for 1.25%? How about saving? I heard CIMP offer the best saving rate in spore. -
Originally posted by likeyou:
Hi Jun, 3 yr fd for 1.25%? How about saving? I heard CIMP offer the best saving rate in spore.what is CIMP?
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Originally posted by Uraniumfish:
what is CIMP?
It's CIMB actually. Been around in Singapore for quite sometime now, though only most recently that they are actively promoting their produces and services
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Thks Ken.
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Originally posted by ditzy:
Well, that's true, $37 is more than $3.75.
Pple young leh. Different ball game from us mah
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Originally posted by eagle:
Pple young leh. Different ball game from us mah
Haha! For you $37 is like a nothing right?
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Originally posted by JerryJan:
Thanks Mrs Jan.Probably will go down one of these day.
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Originally posted by Uraniumfish:
Haha! For you $37 is like a nothing right?
It's relative ;)
Just like what I have accumulated over the last 2 years could possibly be what others earn in one month too :)
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Young lady, it is good that you are thinking of investing your money at such a young age. If i am not wrong, the legalise age to do trading is 18 years old. You are 2 years away. I do agree that at least 5k capital is required in order to start trading.
Over the next 2 years, you mat want to read up more on trading first. Interesting article that I found on youngsters who do trading.
hope this helps! =)
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Originally posted by VonnTan:
Wth, " young lady"?
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Well... can start your own internet shop or something using this money also... sell things online lor...
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Originally posted by caleb_chiang:
Well... can start your own internet shop or something using this money also... sell things online lor...
You mean like import things from overseas and sell here?
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save more money and do well in school..and eventually take up a finance degree to realize your big dream.....u r still too immature to talk about investments and finance...
fast food is now for you...not fast money and scams...
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Originally posted by Fcukpap:
save more money and do well in school..and eventually take up a finance degree to realize your big dream.....u r still too immature to talk about investments and finance...
fast food is now for you...not fast money and scams...
"fast food is now for you...not fast money and scams..." Lol, okay then. Ty for your advice.
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Buy pure gold and keep it, certainly will make >1.25% FD p.a.
Start to study the stock market, how to identify good companies, how to identify companies which can make money for shareholder and not its management.
Stock market has its up and down cycle (typically 7 years), Since u r so young, u will experience many these cycles, which can make money.
Go in during the down cycle, the last bottom is Mar 09, where u can dump as much cash into the market (depending on yr risk apetite)
Now is the Up cycle, but no one knows when it peak (meaning sell every stock you have) and wait for the next down cycle.
Money is made by converting time to cash, and not emotion to cash. Stay put and keep your ear on the market.
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Originally posted by Pattani:
Buy pure gold and keep it, certainly will make >1.25% FD p.a.
Start to study the stock market, how to identify good companies, how to identify companies which can make money for shareholder and not its management.
Stock market has its up and down cycle (typically 7 years), Since u r so young, u will experience many these cycles, which can make money.
Go in during the down cycle, the last bottom is Mar 09, where u can dump as much cash into the market (depending on yr risk apetite)
Now is the Up cycle, but no one knows when it peak (meaning sell every stock you have) and wait for the next down cycle.
Money is made by converting time to cash, and not emotion to cash. Stay put and keep your ear on the market.
You mean now is a good time to buy gold?
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There is a saying that when even ah peks and ah sohs (and maybe young kids) start wanting to speculate in shares that it is time to get out of the stock market.
Really.
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US govt going to dump 600 Billion $ into the market, what do you expect ?
They will keep printing money and dump to market, whereas everyone has to work to earn his keeping.
Don't be too happy that the stock $ keep going up, coz someone is using printed money to simulate the market.
1 thing for sure will happen - inflation !!! See news from China, daily food product $ like onion, rice, bean,etc is rising like no one biz. Very soon, this is going to spead to Sg and other countries.
Keep yr money in goods (gold, properties, etc) coz u will not able to afford to buy them soon.