When you were a kid, it didn’t matter the decision you made. It was a careless time, and you never paid for your careless mistakes. Today, your decisions have consequences. To invest or not is a decision you have to make. Investing is a risk you can take and make a lot of money while not investing is none of a risk but for the cowards. Now you see a dollar in your pocket or bank it remains just that, a dollar. On the other hand, an invested dollar has more potential to make more money.
Done with that, let us get to our subject: A guide to starting investing in Singapore. For starters, Singapore is in the fast lane of economic growth and development. Therefore, you have to be careful how and where to begin. Worry not; this guide to start investing in Singapore will walk you through.
Start with your eligibility to invest
Are you eligible to invest in Singapore? This is the first question you should ask as you get ready to invest in Singapore. To help you out, you should be over 18 years and not declared bankrupt. You will also need to open a CDP account, and for this one, you have to be over 18 years. It is piece-of-cake easy to open this account as all you have to do is go to SGX page for CDP. After you are done with that, you are over with the first hurdle to start investing in Singapore.
Deciding where you want to invest
You have to decide on what whets your investing appetite in Singapore. The industries you can invest in are divided into two broad categories: low risk and high risk. The low-risk turf includes government bonds and earning dividends from stock. On the high-risk end, you could venture into penny stocks or the growing lists of new age markets.
As you make the decision, you have to be cautious of your final choice. It will be your anchor to success or failure. However, this is business, and you have to risk to gain.
The investment sum
You are not only eligible to invest in Singapore but also, you have identified a filed you can invest in. It is time to open your purses and decide how much you are willing to invest. It boils down to the amount of cash you have. If you have some hefty amount, you can go for the high-risk opportunities. If you succeed, you will have yourself to thank. If you are low on your investment budget, go for the low-risk opportunities. If possible, it is advisable you start small to test the waters. After that, you can pump more into your investment once you are sure.
Take time to learn investment opportunities
You have already pumped a sizable amount of money into your Singapore investment. Do not be impatient. You will not turn into an overnight success. As you wait and see, learn as much as you can. Take time to read this post that highlight some the leading investment opportunities that you can spend your money on. This knowledge will come in handy in the future when you are prepared to take more risks.