I am 23 this year, with two more years in university. I need advise as to how to allocate my money ?

21k in endowment (mature in 5 years), 15k in Citibank Maxigain and 30k in CIMB.
I save about $500-1000 monthly.

With Citibank’s new policy of having 70k to earn bonus interest, I have left the minimum 15k there which only earns me 1.2% max.

Should I

1) invest in stocks (I don’t have experience) / buy SIA bonds or
2) save up till 70k to get 2.4% interest from Citibank? It will take me roughly a year+ to reach
3) any other advise

STI ETF & SSB does not appeal me as it has to be held Long term

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Luke Ho

27 Mar 2019

Founder and Director at CFX Money Maverick Pte Ltd

If you're looking for short term, p2p is a good area to explore and I can help you with that. You can make like 10% net of fees.

There are obvious risks, which you should know about - what will happen if it defaults, difficulty compounding effectively, capital amount, etc - but I think that it would be good for someone with your current experience and capital.

I do not think you should overlook a long term plan unless you think you can retire on your capital, as impressive as it is for your age. If you are looking for better long term options than the STI ETF, which is decidedly unimpressive, we can look at an aggressive portfolio yielding between 8 - 14% annualized instead.

You can always drop me a message on FB.

https://www.facebook.com/luke.ho.54

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Gabriel Tham

25 Mar 2019

Tag Team Member at Kenichi Tag Team

I would suggest to go for SSB.

SSB is a 10 year bond BUT you can withdraw the money anytime with just 1 month notice period. Plus, you get a pro-rated interest if you do early withdrawal.

Interest is pretty decent too without any conditions to be met.

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