FWD Save First Series 2 - 4.5% per annum short term savings plan

If you are new to investment, I suggest you watch YouTube video, such as from 'Kelvin learns investing' or 'honey money sg'. The whole negative perception to insurance companies' investment policies (ILP) is not without merits.

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To simply put, the insurance companies charges overall higher fees on your total invested assets as compared to you DIY, regardless of whether you are earning or not.

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I have an ILP called AXA pulsar, investment value of total 20k. And I have to pay 5 % pa of 20 K, which is 1 k of fee. So my total value is 19 k for this year, and I am still not earning at the moment. My tokiomarine go treasure ILP is even worse.

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In short, unless you are willing to cough up the fees, then don't go for ILP and try to DIY.

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As for where to park spare cash, there are safer and riskier platforms. Safer being SSB, T bills, Fixed Deposits, Cash management funds from Moomoo etc. The riskier one will be to DIY invest, ETF likes S&P 500 (VOO) will be good as a starter.

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#NOT FINANCIAL ADVICE

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