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?

1

Discussion (1)

What are your thoughts?

Learn how to style your text

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.

Reply

Save

Write your thoughts

Related Posts

Am looking at short term endowment plan for savings, anyone know when the Great Eastern Great SP Series 3: 3-Year Endowment Plan with 1.55% p.a. Guaranteed Returns offer will end?

What are the key points to look at in endowment plans. Both long and short term. What are the safe interest rate to be looking at?

Hi, I'm 28 years old, planning to put my money somewhere instead of bank. Should I do short term endowment plan (10 to 20 years) or long term (until 100 years of age)? Or retirement plan? Thank you?

Insurance saving plans/ fixed Deposit/ endowment plans/ bonds/stocks, which is better for a Long term horizon (>20 years) with 30k, looking to save up for retirement?

What are your thoughts on brokers selling short-term traded endowment policies with a projection of IRR 3.8% to 4.6%? Is it a good savings plan?

Related Posts

Am looking at short term endowment plan for savings, anyone know when the Great Eastern Great SP Series 3: 3-Year Endowment Plan with 1.55% p.a. Guaranteed Returns offer will end?

What are the key points to look at in endowment plans. Both long and short term. What are the safe interest rate to be looking at?

Hi, I'm 28 years old, planning to put my money somewhere instead of bank. Should I do short term endowment plan (10 to 20 years) or long term (until 100 years of age)? Or retirement plan? Thank you?

Insurance saving plans/ fixed Deposit/ endowment plans/ bonds/stocks, which is better for a Long term horizon (>20 years) with 30k, looking to save up for retirement?

What are your thoughts on brokers selling short-term traded endowment policies with a projection of IRR 3.8% to 4.6%? Is it a good savings plan?