facebookHi, I’m a low risk investor with my funds currently in my normal savings account. Been thinking about investing in SSB instead due to the recent fall in interest rates. Any thoughts? - Seedly

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Anonymous

08 Sep 2020

General Investing

Hi, I’m a low risk investor with my funds currently in my normal savings account. Been thinking about investing in SSB instead due to the recent fall in interest rates. Any thoughts?

Discussion (9)

What are your thoughts?

Rachelle is right. Start by parking your money in SingLife – at least you'll be earning 2.5% interest while you continue to ponder. The interest is reflected daily. App stability is not fantastic at the moment but the interest is real.

Meanwhile, start reading about basic investing. Just 3 basic products for a start – what are stocks, bonds, ETFs? For beginners, it's better to start by buying ETFs instead of stock-picking.

Explore the different account combinations you can open for trading. You can either start a CDP account + trading account (e.g. DBS Vickers), where you hold your own stocks. Or go for others like Saxo/IBKR/FSMOne, where they hold your stocks on your behalf.

Happy investing!

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Kevin

Kevin

08 Sep 2020

Mechanical Engineering at Nanyang Technological University

Think you will be better off investing in the STI ETF. SSB has not been performing well in recent years and I predict the situation will not improve anytime soon with the government taking a huge hit with all the payouts and support schemes.

View 1 replies

Rachelle Lye

Rachelle Lye

08 Sep 2020

Digital Marketing at Fintech

Hi Anon!

There are a few things you need to consider before deciding whether you should park your f...

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