It was a great two years for many of the savers. FED keeps increasing interest rate and as a result, savers (those who don’t like to take risk in equities) are crying for joy! If one goes around, can easily get 3% for Fixed deposit these two years or locked more than 3% under SSBs for 10 years!
Of course, I took the opportunity to bump up the SSBs for me and my spouse such that we will get super safe regular income for about $980+ per month on average for the next 10 years. Considered that our typical household expenses are about $3k per month, this covers about 1/3! However, of course should there be great bear that comes, it will be time to activate warchest. The most sad case is no warchest to buy when things are on sale. Then next important will be courage.
Saving Options for Dec 2024
Option 1: Singapore Saving Bonds – SBJAN24 GX24010F
This month bond is relatively very lousy as compared to previous month. However at least it is still more than 3%. Definitely I won’t buy as it is not attractive for me at all since I have already got what I wanted last month. For my regular readers who saw my post and applied last month, likely will not be interested for this month SSB.
For those who are still keen can apply and has not hit your 200k limit, application deadline is 26 Dec 2023, 9pm. I am sure this issue will be under subscribed.
Pros and Cons of SSB
Anyway,
Let’s us recap the advantages of SSB first:
- Very safe – backed by Singapore Government
- Locked down decent rates of around 3% for 10 years.
- Easy to redeem and can redeem partial
- Liquidity needs maximum of 1 month where you can get your money back. Hence suitable as emergency fund.
- Limit of 200k should be good enough for most people.
- Can build Bond Ladder to get monthly income (which I have already did)
Let’s us recap the disadvantages of SSB:
- Short term rates are lower than banks’ fixed deposits, money market funds such of around 3.5% and above.
- Risk Free 6 month treasury yield is close to 4% which is higher
- Low returns
- 1 month liquidity to redeem your funds may be too long for people who need the funds immediately.
Option 2: T-Bills
For now, you should be able to get above 3.5%. Much better than fixed deposits!
For those who are keen, don’t forget to apply!
Option 3: Bank Liquid accounts
Personally, I am using these 4 accounts for my super liquid cash. Do consider them!
For me the reasons that I am using these are:
- High interest above 3% but your funds can be withdrawn/transferred anytime. SSB needs 1 month, but these are immediate
- Can setup as Joint account for Estate purposes whereas SSB can’t, can only single CDP account 🙁
- Little or no hassle
Deal 1:
Webull – Get free money!
Good deal! Do not miss this! Sign up here now for free money!!
Deal 2:
Trust Bank New Clients → Free SGD$35 FairPrice Vouchers
- Sign up using referral code KNDBPEPT (Free $10 FairPrice E-Voucher). Key in this code after you download the Trust Bank App from Trust Bank Website
- Receive a S$25 FairPrice E-Voucher from your first card spend as a credit card customer or when you make your first S$500 deposit for Savings account
- Many other attractive vouchers in the app – refresh every month
- No minimum balance account and can earn up to 2.5% for the first 125k
- No foreign transaction fee, great exchange rates when overseas. See my review via Trust Card – Excellent Card for overseas usage.
Deal 3:
FSMone – Cheap Comms and can transfer your shares to Personal/Joint CDP for Free
I am using FSMOne.com to invest in funds & ETFs (including money market funds). FSM is good due to the low comms and the free transfer from FSMOne to CDP (typically takes less than a week to transfer). If you do not have an account, you can sign up here. Please use my FSMOne referral code: P0413007.
- You can read my experience of how I buy cheaply using FSMOne and then transfer my shares to Joint CDP within few days via $0 Free of Charge Transfer of SGX Shares from FSM to CDP and updates! – Done in less than 3 days!
- I am also using FSMOne as part of my Estate Planning Plan. You can read about this via Simplified Guide to the Key Gist of Grant of Probate and Estate Planning
Deal 4:
Eskimo – Best Option for Roaming!
For now, you can get 500MB for free just by signing up with my referral link, no purchase required (I get 500MB only too, but only if you buy a paid plan). Referral code: CHING104915
You can read my review here.
- Battle of Enough VS Spending for Financial Bloggers
- Ultimate Formula for FIRE (Financial Independent, Retire Early)
- Demise of REITs and do you still believe in REITs?
- Dividend Investing is Dangerous
- SSB Bond Ladders
- Simplified Guide to the Key Gist of Grant of Probate and Estate Planning
- Cheapest and best way to trade Singapore Stocks with CDP
- Mastering Dividend Investing: 5 Evergreen Investment Principles
- Unlock Lucrative Returns with IAPD: A High-Yield ETF Providing 7% Annual Yield and Quarterly Payouts
- Unlock Lucrative Returns with SDIV: A High-Yield ETF Providing 11% Annual Yield and Monthly Payouts
- If I am a dividend investor, this is what I would do….
- 7 Things to consider before buy a dividend stock
- 4 Dividend ETFs that can let you sleep well even in the scary bear market
- 5 Best Counters for Passive Dividend Investing
- The Three MOST Important Traits of an Investor
- What is the best investment strategy in the world?
- Ultimate Strategy of buying REITS: XXX instead of X000?
- Ultimate Free 2 Days Reit MasterClass: Exclusive at Careyourpresent.com
Money just buy you the chance of freedom but can’t buy back time. In life, there is no reset button. Time is limited but money is not.
When you are young and working, you exchange time for money. When you are old, you can have lots of money but you can’t buy time back, especially the things that you have missed (your strong health, time with young child) while busying striking out in career.
Your kids grew up and they no longer need you to accompany them. They no longer want to sit on your lap to share/do things with you…all these time you spent in your 9 to 6 or even longer cubicles…can the money that you have earned by you back these?
We always thought we have more time with our old parents, but we are wrong. Time with them is ticking away every day. One day it will suddenly be gone. There is no regret medicine, no reset in time. Gone is gone and cannot come back. No matter you are billionaires or millionaires, you cannot reset this.
We always thought that we have more time with our spouse every day, but we are wrong. One day they will be gone too. When you read this, please go tell your spouse that you love him/her and he or she is the best thing that you ever had in your life.
Love your life daily. You have one less day with your spouse, parents, children and yourself. Time is ticking away.
Focusing Careyourpresent & living a fulfilling life by supercharging your mind & investment/online income. Careyourpresent Series focus on things that one MUST know in their Life.
- Embracing the Transience: Life Is Short
- Are you one of them?
- Three Pictures to change your Life and Mind
- Live in Present is not easy
- 小时候,幸福很简单。长大了,简单很幸福。
- The Best Advice to Parents and Child
- What if Later never come?
- What will you bring with you on your last day on Earth?
- Time is the ultimate currency, not money
- Our Life only have 5 short Days – we should live the best for every day
- Truly understand Living in the Moment now
- 11 Important Unexpected Life and Money lessons to learn from Your Children
- The days are long but the years are short
- Ditch your mobile phone to build real life
- Careyourpresent: Time is the most important
- Careyourpresent: What is your purpose of life?
- Careyourpresent : Greatest Regrets in life
- Careyourpresent : You might not believe it. It’s little unexpected things that make up a real life
- Careyourpresent: Something only happen once in life, if you missed it, it’s gone forever…
- Careyourpresent : Why is Gold useful?
- Careyourpresent: Frozen. Let it go!
More articles can be found here.
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