facebookI saved my first 50k in UOB ONE account to earn higher interest. What should I do with my next 50k in order to get higher returns? - Seedly

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Anonymous

18 Apr 2019

Saving Hacks

I saved my first 50k in UOB ONE account to earn higher interest. What should I do with my next 50k in order to get higher returns?

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Consider online trading platform such as tiger, moomoo, etc.

singtel dash pet is not a bad option if you prefer lower risk with similar interest rate from high interest saving account.

Higher returns tend to run in line with higher risk. The thing you need to ask yourself is how much of a risk appetite you can stomach before you need to cut losses. Generally speaking the safer choices would run the gamut of fixed deposits, higher yielding bank accounts like cimb fast saver and citibank's maxi gain, structured deposits, Singapore savings bonds, ABF Singapore bond index fund (through posb invest saver). Robo advisory portfolio with low risk profiles may also fit in here. Higher risk choices would be straight stock investing, robo advisory portfolio with higher risk profiles, equity Etfs and options portfolio. Typical returns range from about 4% to 40+% or more a year. For non managed portfolios, I'd suggest you find a mentor to teach you to shortcut the learning process. Saves money in the long run and you will be able to achieve your goals much faster. Just ensure there's a track record for the programme. Hope this helps

Gabriel

19 Oct 2018

Undergraduate at National University of Singapore

As Damien has said, it depends on your risk appetite. If you're willing to take a little risk, you c...

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