So Singapore’s gone into a technical recession. This is the first time I’m encountering such a situation as a salaried worker (sort of), and as a civil servant I’m not too affected, since my job’s somewhat of the 铁饭碗 (iron rice bowl) nature. It’s not absolute immunity, of course, but all in all I’m rather thankful for this stability, as compared to (previously) high-earning employees of firms that no longer exist today.
In volatile market, only stable investment is porn!
– Trekkie Monster, Avenue Q
I’ve just applied for a brokerage account with Citibank. The current financial crisis is probably far from over, but I figure that in the long-term view of things (perhaps a 5-10 year window) it’ll be good to start entering the market sometime in the near future. I don’t have a particularly high risk appetite (especially given the situation now), but I believe it’s important to keep your money growing, and well – I guess the time to learn is when you’re young, have less obligations and can afford to make mistakes.
Still, it’s a rather scary first step for me. Investing’s by no means a certain thing – the value of my UK savings account has fallen by almost a thousand (Singapore) dollars due to the change in exchange rate (counting from Jun 2008, when I could have converted all the money and brought it home). I’ll probably end up just getting some STI ETF to begin with – seems like a comparatively low-risk move.