POSB Invest Saver was what I started my investment journey because it was that easy to get started on it.
Most people in Singapore will have a DBS or POSB account and that is just what you need to get started.
It was really easy getting started with POSB Invest saver, you just had go online and under the Invest tab, go to more investment and click onto 'Set up Exchange Traded Funds Regular Savings Plan (RSP)'.
When I first got into it, I knew that the STI ETF is made of the 30 largest and most liquid companies in Singapore. It is a really easy starting point and it links to your POSB account so dividends are directly paid into your account semi-annually.
When I started this RSP, I was just started and really read up more and found out about SPDR STI ETF. I knew that the one that Invest Saver was Nikko AM STI ETF. So I went to find out more about the difference.
Seedly has released a comparison between both which is really neat and simple.
The main thing was that in 2018, the expense ratio was 0.33% for Nikko AM STI ETF and that SPDR STI ETF has an expense ratio of 0.3%. I was looking to switch to SPDR STI ETF as I already had it automated so I still stayed with POSB Invest Saver for sometime as I was investing only about $100 per month.
Read more: Switching from POSB Invest Saver to FSMone ETF RSP
Over time, I wanted to increase my investment size and also go more into other markets besides Singapore so I decided to move onto FSMone.
However, if you are just wanting to get started somewhere and want something automated and simple, getting started with POSB Invest Saver is really not bad, in that it can be easily set up and it is just that first step you need before you can advance to many other things.
POSB Invest Saver can also be linked to your DBS Multiplier account and fulfills the invest category which can really help push up your interest rate.
Do remember that it is listed on the Singapore exchange and you can lose money from it as it carries risks, it is always advisable to invest with money that you do not need in the short term.
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