After hearing issues encountered by Singlife users,where is the next best place for me to park my monthly savings? Any tips from the experts. Thank you 🙏🏻

You may also want to consider Syfe Cash+. 1.5% projected return p.a. on all deposit amounts

What are the issues with Singlife? I have Singlife and had been getting the published crediting rate (although had been dropping due to the low interest rate environment). I had also successfully withdrawn money from Singlife a few times.

It depends on which buckets your monthly savings go to. In general, I divide my monthly income into 3 buckets:

1. Expense Bucket, which further divided into 3 sub-buckets:

a. Ready Cash, for living expenses, need regular replenishment.

b. Budget Expense, for bigger planned expenses (e.g. wedding, housing, travel).

c. Insurance Expense, for paying premiums of necessary insurance policies.

2. Emergency Bucket, set aside for emergency use.

3. Investment Bucket, for wealth accumulation.

For expense bucket, the most important criteria is liquidity. In general, you may park your money in bank deposits, insurance savings plans, short term endowment plans, cash management solutions from roboadvisors and short term bond funds.

For emergency bucket, liquidity is still important, but since you are setting aside money for an unknown duration, you want decent returns that beats at least inflation rate. This may be lower risk investment portfolio with higher allocation to fixed income assets than to equities.

For investment bucket, that is where you seek long term returns by constructing a portfolio of different asset classes.