facebookI just got married and will be trying for the coming BTO/SBF. Should I save the money and use it entirely for renovation or use a portion to invest? - Seedly

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Anonymous

21 Nov 2019

Property

I just got married and will be trying for the coming BTO/SBF. Should I save the money and use it entirely for renovation or use a portion to invest?

I just got married and will be trying for the upcoming BTO/SBF. Should I save the money and use it entirely for renovation OR use some of my e-savings for investing, like Robo-Advisor?

Totally new to investing and only started exploring a few days ago as I’m worried about retirement.

Would it be a better idea not to use up the monthly CPF contribution for HDB instalments but rather keep a portion for retirement also? Example, buy a 3 room instead of 4 room?

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Discussion (5)

What are your thoughts?

Ang Yee Gary

Ang Yee Gary

30 Jul 2019

Level 7·Medicine at National University Of Singapore

If the money is meant for short term then it would be good to use a time machine and travel to the future before investing.
Otherwise it is best to avoid investing for the short term

View 1 replies

Joyce Chan

Joyce Chan

30 Jul 2019

Level 4·Senior Financial Consultant at Prudential Assurance Company Singapore

I personally find it useful to look at interest rates. If the interest rate of the renovation loan is lower than that of my investment/savings returns, than one might choose to set aside a portion to invest, while taking a renovation loan.
E.g. If i/r of renovation loan is at 2% and investment/savings returns is at 3%, I might choose to set aside a sum for investments/savings instead as the returns would cover the cost of the loan and still allow me to earn a little.
Hope this helps!

View 1 replies

Dont spend too much on renovation. I made a mistake of spending so much on my first house n when i u...

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