facebookMy hubby and I will get a home in a year. Our renovation budget is $50,000. We are saving $4,000/month. Instead of keeping the money in a savings account, how should we invest it even for just a year? - Seedly

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Anonymous

09 Aug 2020

Saving Hacks

My hubby and I will get a home in a year. Our renovation budget is $50,000. We are saving $4,000/month. Instead of keeping the money in a savings account, how should we invest it even for just a year?

Discussion (10)

What are your thoughts?

Lim Boon Tat

Lim Boon Tat

25 Aug 2021

Mathematics at Cambridge University

Try the robo-advisors cash/money market funds, which are relatively safe (even if crash, will recover in matter of weeks).

Singlife Account, short term endowment plans.

Savings account?

  • Singlife 2.5% p.a ((first 10K only))
  • Standard Chartered Jumpstart 1% p.a

Hmmm if you’re ok with dealing with some risk -> Robo Advisor!!

Going to disagree with all the above answers. Would say put into a robo cash fund account with a projected return 2% would be q safe.

Andy Sim

Andy Sim

26 Feb 2020

HR Professional at a Financial Institution

Investing horizon too short, should not go for high risk equity products. Can try short term fixed D...

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