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Part 3 of 3: Achieve financial wellness with your first three pay cheques

Part 3 of 3: Achieve financial wellness with your first three pay cheques

  • 28 June 2023
  • By OCBC Wealth Advisory
  • 10 mins read

In this three part series, learn more on how you can achieve financial wellness with your first three pay cheques as a first jobber.

In our last two articles, we explored building an emergency fund and insuring yourself and your family against downturns. Now, a question you may have is, “How can I grow my wealth?”.

Investing is a powerful tool for building long-term wealth, but it can also be intimidating for first-time investors. Technical jargons alongside the vast variety of investment choices serve as reasons for resistance to investment. Are you guilty of such procrastination?

A savings account alone is not enough to reach retirement. Savings, coupled with investing, helps to build your future wealth, beat inflation, and preserve your purchasing power.

With the power of compounding i.e. multiplying effect (Figure 1), the earlier you start investing, the longer the time horizon you have for your investments to grow.

Figure 1: How you can grow your money faster with the power of compounding

Source: OCBC Wealth Management

Third pay cheque: Start investing

To kickstart your investment journey, consider the OCBC RoboInvest platform. Even as a first-time investor, the tested and proven algorithm technology not only helps you to manage, but also make intelligent and personalised investing decisions.

With 38 portfolios across 7 markets, the diversified portfolios are designed to reduce risk across different asset classes and investment themes. This ensures that every investor, including yourself, would find an investment to your liking, tailored to your unique risk appetite, needs and wants. Just perfect for first-time investors!

With as little as US$100 per month, here is how OCBC RoboInvest may help you:

  • User-friendly and convenient
  • Highly interactive
  • Hassle-free optimisation

Moving forward, you may wish to consider unit trusts that give you the flexibility to invest in multiple markets and industries. Aside from achieving portfolio diversification with the top fund ideas curated by experienced investment experts, you can also get your portfolios taken care by professional fund managers.

Remember, investing is important at any age, and it is never too late to become an investor.

Good job on staying till the end of this series #NewAchievementUnlocked. Feel ready to start? Check out OCBC Digital app or approach your relationship manager to find out more.

Ready to invest?

Get started with OCBC RoboInvest today

OCBC Digital app

Invest via OCBC Digital Banking

Available on Apple App Store, Google Play and Huawei App Gallery

Download now

Ready to invest?

Get started with OCBC RoboInvest today

OCBC Digital app

Invest via OCBC Digital Banking

Available on Apple App Store, Google Play and Huawei App Gallery