facebookRecommendation to invest $50k-$60k cash on hand for short term (2-4 yrs) goals and long term (retirement) goals? Looking to continue channeling $24k/yr towards retirement too - where should we do so? - Seedly
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Level 2

16 Jul 2019

Recommendation to invest $50k-$60k cash on hand for short term (2-4 yrs) goals and long term (retirement) goals? Looking to continue channeling $24k/yr towards retirement too - where should we do so?

Spouse and I are turning 26, owns a car, have gotten and moved into own HDB flat for close to a year. Only debts are HDB loan and a balance $16k car loan.

Both of our insurances (medical/multiple life insurance and few endownments taken) have been sorted.

Intend to have 2 kids in 2-3 yrs time & downpay a new car in 4 yrs time.

Have got emergency funds set aside in UOB one account. Have $30k spare cash and expect to hit $50k-$60k by year end.

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    What are your thoughts?

    Hariz Arthur Maloy

    Hariz Arthur Maloy

    16 Jul 2019

    Level 15·Independent Financial Advisor at Promiseland Independent

    I wouldn't invest anything volatile if I require the money in the next 3 years time. You can look at SSB, Fixed Depost, or short term endowment policies as options.
    For long term, building a globally diversified portfolio with attention to asset allocations and shifting strategies as you age and get closer to retirement is a great idea to invest for retirement in 30-40 years.

    I follow a ABCD framework which stands for: Adventurous, Balanced, Cautious, and Defensive which would allow us to invest properly as we age.
    Something like the following may constitute an adventurous approach:

    I've been speaking recently to young couples and families our age (I'm 26 too) with regards to this. I'd love to show you some guidelines and plot an idea of how this investment journey of yours may look like which will include things like emergency expenses and when to accumulate and when to collect dividends.

    My job is to make sure you're able to reach your goals with the least risk possible and coach you and helping you understand how we react to markets and the rules we follow as investors.

    If you'd like to understand more, I'm always a message away.

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