13 Dec 2020
Have saved 10k after 10-11mths of putting away 50% of salary. Should I create a new account with gigantiq/Singtel Dash to save up the next 10k by allocating 25% to savings & 25% to investing or should I put the 50% of my salary from now on to my Stashaway investing portfolio?
I’m not attached at the moment but thinking of the possibility that I might need the money in short term eg 3-5 year should I have plans for marriage or BTO and incase my stashaway portfolio is losing money?
Good point you highlighted. Open an new account is a 👍 idea.
emergency fund just a portion of saving. your saving components should include:
emergency fund (loss job)
life event (marriage,BTO,kids)
irregular expenses (travelling, buying car?, buying expensive thingy)
Once all above settled, then u can stop saving. Full investing. This ensure u would never need to sell ur investment just to get a quick buck.
Write your thoughts
Standard Chartered JumpStart Account
Up to 1% p.a.
MIN. INITIAL DEPOSIT
MIN. AVG DAILY BALANCE
DBS/POSB Multiplier Account
OCBC FRANK Account