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Anonymous

29 Oct 2020

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My retiring parents have lump sum 60k, what capital guaranteed investment can they make?

Assuming my parents are semi-retired and do not need the sum of money in the next 10-20 years. Where is the best place with capital guaranteed investment for them to preserve 60k?

I have tried researching, Singlife/Giantiq looks good but they are short termed and comparably low interest than Endowment plans with capital guarantees. However endowment don't seem to accept lump sum and require yearly premiums instead.

Any ideas? I am quite unfamiliar with this. Am open to any risk-free ideas!

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1M45

29 Oct 2020

OPINON: Endowment plan. Institute normally take ur $$$ then buy unit trust. If gonna buy endowment might as well buy an unit trust urself.

U can choose a unit trust that grow & give monthly dividend. If safe is ur most pirority. Eg. UOB global quality grow fund. ( juz an example. I not a certified fininacial adviser)

I would propose an investmènt that give dividend. So even market crash ur cashflow is still positive.

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Mel

29 Oct 2020

Hello! This is a topic I'm also looking into for my parents as well.

If your parents do not need this sum of money, my first choice would definitely be CPF top-ups. The interest rates are almost unbeatable for something that is guaranteed so I'm quite a fan of that for my parents.

Another choice I've been exploring is what Elijah has mentioned, which is to take a look at short-term endowment plans. There are quite a few so your parents can see which one's suitable for them :-)

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Elijah Lee

23 Oct 2020

Senior Financial Services Manager at Phillip Securities (Jurong East)

Hi anon,

You might want to look at short term endowments that will launch in limited tranches every...

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