I’m Ardeena and welcome back to my page!
So you know as your grow up, you graduate college, you get a job and over time you have a sum of money saved up, usually the right thing to do would be to grow your money by investing. Unfortunately, the idea of investing your money to me at least, has always been quite daunting especially with all the fancy investment jargons. I’ve tried reading some books on how to invest but nothing ever clicked and it was an area I could never really grasped. So, how do you invest your hard earn money with bare minimal knowledge on investment right?
So in this video today, I will be speaking on a Robo-Advisor, called StashAway. If you’ve never heard of StashAway before, it is a Singapore-based digital investment advisory platform that is the first digital platform to obtain a license from the Security Commissions on November 2018 to operate in Malaysia. In short, StashAway is an app that helps you to invest your money for you with a small management fee. It’s almost like having a personal financial advisor in a form of a robot to invest and grow your money for you!
I started investing in StashAway since February 2020, so it has been over a year now and here is my take on the platform. Before I start my review, here’s a disclaimer that I am in no way, shape or form a financial expert. I am just a person who is looking to grow my money, the easiest way possible.
What I Love About StashAway?
The main thing the has drawn me to StashAway is that everything is automated and the platform is super easy to use. All you have to do is key in your details, answer a couple of questions, deposit your money, and StashAway will do all the work for you. I also like how I can automate my deposit so that I don’t have to manually transfer fund every month into StashAway.
Once StashAway has understood your financial situation and your financial goals from the series of questions you have answered, it is then time to start investing! As StashAway is a robo-advisor, it makes investment decisions with data, and not with gut feelings. I think this is great especially for entry level and new investors who have very little knowledge when it comes to investing. Also, by eliminating human labor, it is relatively cheap to invest as StashAway is only charging 0.8% management fee while a traditional fund manager can cost you between 3% to 5%.
Another plus point about StashAway is that you can start investing with as low as RM10. As a person who is very new with the whole idea of investing my money, I started off with an initial investment of RM100 a month. Once I manage to get a better understanding of the platform, I gradually increased my deposit. There is so much flexibility with StashAway where you can increase or decrease your deposit without any specific holding period which to me is a huge plus.
One of my favourite things about StashAway is that your investment is tailor made to your preference. You can basically customise your investment based on what your end goal is. For example, say in 3 years you would like to have a certain sum of money for your ultimate dream holiday, you can set up a holiday fund on the platform, and it will help you tabulate how much you would need allocate periodically to achieve your goal. This also applies for retirement fund, college fund, or even saving up for a dream home. With StashAway, you are also able to personalise your investment based on your preferred risk profile. If you’re young with minimal commitments, you can go with the high risk investment, but if you’re looking for something stable, you can opt for low risk investment instead.
In StashAway, there is a projection feature where it will forecast how much you will have in 5 to 50 years if you continue investing with the same deposit amount. Assuming that consistently put in RM250 per month for the next 20 years, there is a 95% chance that I will have at least RM108k. I personally really like the projection as it keeps me motivated to stay consistent in investing with StashAway. The great thing about this platform is also that you can see in which sector your money is being invested in and also how much return it is generating.
Before I started to invest in StashAway, I had a couple of questions in my mind. One of the questions I had was,
Q1. What will happen to my money if StashAway somehow shuts down? Will all my money vanish?
Answer: StashAway is regulated by our very own Securities Commission (SC) Malaysia. That’s as safe as a Malaysian company can get in the capital market. In a scenario where StashAway is shutdown for whatever reason, any money held in a trust or custodian account can’t be touched and you will still get back your funds.
Q2. What is the minimum amount to invest and how often do I need to make a deposit?
Answer: There is no minimum amount to start investing with StashAway and you can make your deposit whenever you like at your own discretion with no minimum amount to maintain your account.
Q3. Can I make a withdrawal at anytime?
Answer: The best part about StashAway is that you can withdraw at anytime which only takes THREE working days!
Q4. Should I invest in mutual funds or in StashAway?
Answer: After doing my research, I opted for StashAway because I could personalised the best investment based on my financial standing and goals.Also it has lower management fees and with minimal deposit amount in comparison to investing in mutual fund.
That’s all from my today everyone! I hope you’ve found my video to be insightful and useful! It is never too late to invest and if you are interested in giving StashAway a go, you can use my invite link here!