Hi there,
If you are conservative, you can dump it into your CPF OA and earn 2.5% risk free, which can be used to pay the tertiary education fees of your child under the CPF Education Scheme. However, do note that it will only be for approved public universities(NUS, NTU, SMU, SUTD, SIT, SUSS, NAFA, LAS). Do read more about it here: https://www.cpf.gov.sg/Members/FAQ/schemes/othe...
As Hariz mentioned, you can also consider the route of putting it into short-term endowment products. Do note that they usually have a minimum sum to put in, as well as a maximum cap. Here is an article, albeit dated, covering them in more detail:
https://www.sgmoneymatters.com/endowment-plan-g...
Some recent 2019 plans:
https://blog.seedly.sg/aviva-mysecuresaver-shor...
https://blog.seedly.sg/great270-short-term-endo...
If you are more aggressive, you can channel it to Stashaway, a Robodvisor via SRS which would let you save about $500 for your annual income tax(assuming you are working and drawing the average salary of 4k). However, if a recession was to happen, this may negatively impact your portfolio although stashaway will try to minimize the impact to it.
https://www.stashaway.sg/supplementary-retireme...
https://dollarsandsense.sg/singapore-robo-advis...
Lastly, if your child is going into a local U, you can consider taking up a 0% loan(https://blog.seedly.sg/tuition-fee-loan-local-u...) and using the time period that he is still in school, continue to be vested. With a longer time period, you can be more confident of taking higher risk for greater returns:)
https://blog.seedly.sg/investment-product-short...
All the best!
Hi there,
If you are conservative, you can dump it into your CPF OA and earn 2.5% risk free, which can be used to pay the tertiary education fees of your child under the CPF Education Scheme. However, do note that it will only be for approved public universities(NUS, NTU, SMU, SUTD, SIT, SUSS, NAFA, LAS). Do read more about it here: https://www.cpf.gov.sg/Members/FAQ/schemes/othe...
As Hariz mentioned, you can also consider the route of putting it into short-term endowment products. Do note that they usually have a minimum sum to put in, as well as a maximum cap. Here is an article, albeit dated, covering them in more detail:
https://www.sgmoneymatters.com/endowment-plan-g...
Some recent 2019 plans:
https://blog.seedly.sg/aviva-mysecuresaver-shor...
https://blog.seedly.sg/great270-short-term-endo...
If you are more aggressive, you can channel it to Stashaway, a Robodvisor via SRS which would let you save about $500 for your annual income tax(assuming you are working and drawing the average salary of 4k). However, if a recession was to happen, this may negatively impact your portfolio although stashaway will try to minimize the impact to it.
https://www.stashaway.sg/supplementary-retireme...
https://dollarsandsense.sg/singapore-robo-advis...
Lastly, if your child is going into a local U, you can consider taking up a 0% loan(https://blog.seedly.sg/tuition-fee-loan-local-u...) and using the time period that he is still in school, continue to be vested. With a longer time period, you can be more confident of taking higher risk for greater returns:)
https://blog.seedly.sg/investment-product-short...
All the best!