I wish I am an investment-savvy person. That way, our hard-earned savings will not be ‘sleeping’ in the bank. I have met a few financial consultants in Singapore and they helped a lot by way of explaining the ins and outs of making investments. It was enlightening to know that even for insurance policies there are programs that allow the insured to allot a portion of the premium to a choice investment.
One investment type that is very popular among our circle of friends is Forex. Well, they say that this is pretty high risk but it goes without saying that the gains have high potential, too.
A friend who participated in online foreign currency trading shared with me that one of the downsides is that she has to be up on US time (opposite time zone in Singapore). Despite this, when she got a feel of how online trading works, she immediately got hooked. Also, she had to be up to date with current events and latest business news and was therefore always on the internet day after day.
I think foreign currency trading is for high risk takers. I prefer to be on the ‘safe side’ when investing and therefore Forex trading is not for me.