Robo Investing is a simple, fuss-free and lazy way of investing. Investing into the stock market is one of the more common way of building wealth for the long term.
I am using Smartly and StashAway in my Robo portfolio. StashAway allows 99% allocation into stocks plus 1% in cash whereas Smartly has a stock plus bond plus cash combination.
Currently, Smartly is not accepting any new funds and the reason is “Unfortunately, we are currently undergoing some changes on our site and temporarily unable to accept new deposits. Thank you for your patience and sorry for the inconvenience caused during this period. We are working hard to make sure you get the best product we can offer!“
STRATEGY
- $10 is automatically giro-ed intoSmartly portfolio on the 8th every month.
- $10 is automatically giro-ed into my StashAway portfolio on the 25th every month.
- Another $10 is added every time there is a significant drop in the market.
SMARTLY (SINCE MAY 2019)
STASHAWAY (SINCE NOVEMBER 2019)
FINAL THOUGHTS
This post is meant to provide confidence to people that it is possible to start investing with a low amount. However, investing $10 per month will not make you rich.
If Smartly still does not accept new funding by January 2020, I may just stop adding money into it completely. Meanwhile, I did mentioned I prefer StashAway’s higher allocation to Stocks (for my risk profile). It is important to always stay invested. The opportunity cost of not investing is simply too high to ignore.
Please take note: I started Robo Investing in May 2019 and this is not suitable for people who wants to earn quick money.
Disclaimer: www.engboonhow.com is an opinion based website. I am not a financial advisor, and the opinions on this site should not be considered as financial advice. This is not a sponsored post. You can contact me for a referral code to invest via Smartly or StashAway if you like to.