Source: The Straits Times

I recently received the following question from an NSF reader (published with consent):

“Hi Sir,

I chanced upon your blog while trying to grow my wealth. I am currently still serving my nation, drawing not so much of an allowance (about $860). My monthly expenses is about $400. Currently, I have about $3000 saved in OCBC Frank Account. I am looking to get back about $30,000 in 5 years through investing. Should I put my $3K in unit trusts or ETF (S&P500/NASDAQ) or SREITS?”

I reached out with a couple of clarifications, and this was the reply:

Thanks for the fast reply! I’ll still continue saving during NS and uni as well! I should be able to set aside $100 a month for investment. Is it also possible to just use the $3K initially and grow it to $30K without additional savings?

Fantastic question! When I was …