Made my first investment profit today. I started a foreign currency fixed deposit with UOB 6 months ago. Placed around $6000 New Zealand Dollar.
Nothing amazing. Made around $200 profit over a period of 6 months. I know, that translate to a mere 3% profit. But its my first little step into a bigger world.
Anyway, its much better than putting the money in savings account or normal Singapore Dollar Fixed Deposit. So I guess this is a good start.
There is some risk though. If the exchange rate drop, I might end up making a lost. But the risk is rather low. And there will be high interest rates to cover up a bit if the exchange rate drops.
I’m now at starbucks enjoying a cup of cafe mocha and celebrating my small achievment.
There will be more to come. 🙂