Early 60+ years old. Able to leave it untouched for 3-5 years? What is the best place to park about $120k for low-risk tolerance parent?

Hi Anonymous,

One option is to look for 2nd-hand endowment policies that will mature in 5 years or less. However this type is hard to come by and are re-sold like hotcakes due to its short-term, high-interest benefits. Even the shortest one we have will mature on 30 Sep 2026 (about 5 years 8 months). Do speak with your financial advisor if it's suitable for you.

Disclaimer: PolicyWoke is a 2nd-hand endowment policies broker

Hi there,

i gather that your requirements are very low risk with a relatively short time frame. Endowments are expensive and you need a longer time horizon of at least 10 years.

Take a look at single premium insurance with guaranteed returns with SDIC protection.

https://www.tiq.com.sg/product/eeasy-save-v/ - example.

Be wary of products sold in the markets.

Hi.
I am a financial consultant from Aviva.
Based on the information that you provided, might not be enough to give you any advise for now.
But can only suggest you to allocate your funds to different alternatives for different purposes.
Singlife account definitely will b a good option for 10k each account, I have tat as well :) and the balance can allocate to the common options in the market like endowment, saving plan or unit trust that suits elderly ppl.
And please DO NOT PUT IN THE BANK SAVING ACCOUNT even the fixed deposit, because the % is just too low. Unless u really need to use the money within one year then that's fine.
Personally won't suggest to allocate to stock if your parents didn't have any investment experience.
If you keen to know more, just drop me a text or give me a call, will be easier to explain.

82875371

Is 120k all that your parents have access to? (means for all of their retirement)

I am asking this because retirement requires management of their assets as a whole.

If 120k is all that your have access to, I would suggest splitting this liquid cash up and only putting a portion into endowments/annuities (for hands off approach) or a well diversified portfolio catered towards your parents risk profile. I may even consider usage of CPF (if they have the ability to contribute still, different methods based on their situation) to help generate a near risk free return.

If your parents have other cash flow to tap onto for their retirement, I may actually consider the possibilty of ULs for lifelong payouts and capital appreciation with the possibility of legacy planning as well.

Overall this question is a little vague, but these are somes of the possibilities you can consider.