There was a revision of the UOB One account Interest announced in early April. Well, it was effective rate of 5% (highest in market) for many months for 100k.
With the new update, it would become 4% with 150k! Wah I need to take up another 50k to maintain lesser interest.
Well, such is life, some anticipate Fed cut rate, some anticipate it rises.
Calculated effective new rates
Effective interest rates (from 1st May 2024) are:
$100,000 3.375%
$125,000 3.60%
$150,000 4.00%
This is where we are now.
Treasury Rate
Yen Carry Trade + Yen Slide
Don’t forget Yen Carry Trade. Yen sliding.
Read more in this recent article.
This might mean the possibility of GLOBAL MARGIN Call.
Other Options for savers
Next month likely the SSB rate will be higher too!
Should be 3.2% to 3.3% for 10 years average rate! I might be adding more provided I still have funds left after taking advantages of the market!
Let’s Recap First!
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.
Market will be volatile in early part of May. Mark my words.
Collect Money First
Anyway, collect money first.
As of now, based on those already declared.
Think if including those haven’t announced, I should get about 10k in May/June.
Deal 1:
Best Items that I have bought from Shopee.
ONLY the best useful worthy items
Many people I realised that they have only shared things that give them the most commissions. I am different. I will only share things that I have bought, used and found it to be good.
Deal 2:
Webull – Get free money!
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Deal 3:
Trust Bank New Clients
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Deal 4:
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 5:
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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.
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- 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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