Hi! I'm a fresh grad with $13,000 in savings in my POSB Savings. How much would you recommend I transfer to CIMB, and what should I do with the rest?

As someone in a similar situation a few years back, stay off CIMB even though their interest rates are attractive.

​

Their user interface makes transferring money difficult and it's simply not worth the effort for extra 30-40 dollars a year based on 13k capital.

I would suggest to move out most of your funds into either UOB One or OCBC 360 account which yields better returns than POSB savings account. I believe $13k may be insufficient as emergency fund. Once you start full employment and have set aside sufficient emergency fund, can consider monthly DCA into an ETF fund.

I'd say allocate all 13k into:

Low risk? ssb, cash fund accounts

Low/Medium risk? S&P500 (ticker symbol: VOO)

High risk? Stock pick growth companies (e.g. tsla, nvda, etsy)

​

Why all 13k? Cause you mentioned its your savings and we wanna maximise your savings and not spend it. Anyway, these choices are all highly liquid for you to withdraw should you need it in event of emergency

Depend on your spending and lifestyle. If you dont need all to spend, keep 50% for cashflow expenses, another 50% put into SG bond