facebookIm a 21 years old with a 1.5 years old kid. taking full time degree as of now. I have a total Savings of 180k as of now. I sell stuff online ..getting revenue of 10k a month. Bto coming in 2023. Any good investment or saving plan I can consider? - Seedly
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Anonymous

25 Aug 2020

Im a 21 years old with a 1.5 years old kid. taking full time degree as of now. I have a total Savings of 180k as of now. I sell stuff online ..getting revenue of 10k a month. Bto coming in 2023. Any good investment or saving plan I can consider?

Prefer it to be flexible as I’m may need to withdraw money frequently to buy stock. Also any good insurance for me to buy for my kid other than hospitalisation ? Also pros n cons of bank loan VS hdb loan

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    What are your thoughts?

    Hey there!

    In general, savings accounts have little liquidity as there is often a lock in thats required. That being said, you can look at Singlife.

    If you are looking for insurance to buy for your kid, you can look at whole life insurance. If you opt for, say a 12 year premium period, by the time he reaches 14 years old, he will be insured for life. That way, you give your child a headstart and he doesnt have to expend his much resources in getting himself insured in the future.

    Do consider setting a sum of money for your child's future education! Whether it's through an endowment plan etc.

    If you look at bank VS HDB loan, bank loan interests are typically lower but they arent as forgiving as compared to hdb loan. And you will need to fork out a higher downpayment as compared to HDB loan. Some people choose to go with HDB loan at the start since the initial downpayment is lower and then switch it. You can switch from a HDB loan to a bank loan but not the other way round.

    All in all, do consult a licensed financial advisor to explore your options. All the best!
    Financial planning is an integral part of life. You can reach me here to find out more.​​​

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      Hi, currently my investment portfolio have a postiive cash flow of 7% to 9% every 5 weeks. best for the short term and long term investement. best for cash liquidity and cash flow monthly.

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        I would suggest to speak with a few advisors to get sensing on how you should proceed. Your situatio...

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