facebookI’m planning to save up $100 every month until 2021 September to buy the iPhone that will be release then. Is it a good idea to put the money in to SYFE REIT+? - Seedly

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Anonymous

06 Apr 2021

REITs

I’m planning to save up $100 every month until 2021 September to buy the iPhone that will be release then. Is it a good idea to put the money in to SYFE REIT+?

Would this be a wise investment for me? Considering it'll be quite short term.

Discussion (12)

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Tan Wei Ming

Tan Wei Ming

06 Apr 2021

Founder and Writer at Frugal Youth Invests

Their Cash Management Solutions would be a better option.

I wonder.. one year from your question, how did you save the money, & have you already bought a new phone or still waiting for Sept??...

Hi Anonymous, given the short time frame of just about 1.5 years and the volatile markets expected in the near term (may even be more than 1.5 years), it would be wiser to have the money stashed away in a more liquid vehicle. This could be High Interest Saving Accounts such as DBS Multiplier and SC Jumpstart if you're <26 years old.

Instead of cracking your brains to find somewhere to park this money, an alternative is also to increase your earn rate during this period. You could consider part time jobs if time permits, or any gig jobs during your spare time according to your skill sets. Food delivery is definitely the rave right now, though it may not be as profitable as before.

All the best! You'll definitely appreciate the hard-earned iPhone in Sep 2021 even more.

Angeline Teo

Angeline Teo

30 Apr 2020

Calculator at The Internet

Don’t invest money that you need in less than 5 years.

a lot of things can happened to the economy.

Pang Zhe Liang

Pang Zhe Liang

24 Apr 2020

Senior Financial Services Consultant at AIA Singapore Private Limited

As always, investment yields only non-guaranteed returns. This is because every investment has its s...

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