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HL Low

10 Jul 2019

∙

General Investing

I have $10K in SSB, should I withdraw it and look for short term endowment plan to increase income?

Just realized SSB might be slow and long term increasing my income. Should I look for short term endowment instead and any recommendation for short term endowment plan?

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Hariz Arthur Maloy

09 Jul 2019

Independent Financial Advisor at Promiseland Independent

Past SSB's would give you a simple return of over 2+% if held over 10 years.
Endowments maybe only give you a compounded 3% return after 10 years.
That's not much a difference.
If you're looking to grow your portfolio, save and invest more instead of chasing for marginal extra percentage points. 1-2% won't make much of a difference, but saving 2k per month instead of 500 per month will.

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