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REgarding Fed Rate Cuts... i have half my cash savings in Singlife Savings Acct (3%returns) and half in StashAway Simple (3.5% returns).
I understand that Fed Rates will be cut in Sep and this will potentially affect banks and MMF margins. I think Singlife and StashAway Simple underlying composition is MMF, right? So their returns may drop?
So i'm thinking of transferring the savings to SSB if neccessary. Or do you think that Singlife and Stash have internal mechanism to keep the returns consistent?
I'm new to PERsonal Finance and will appreciate your insights. Thanks!!!!!
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SSBs would also drop but still will be good in the long term but for Singlife and Stashaway, they will likely decrease their interest rate soon.
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- If interest rate cut, all interest will drop.
- It may be difficult to find low risk /risk free th...
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Hmm have you tried moomoo cash plus? Better than ur singlife or stashaway + it's liquid. For the USD one does require you to convert your currency though, you can do it directly in the app. hope this helps