ZhiHao - Seedly
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ZhiHao

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ZhiHao

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ZhiHao

  • Answers (2)
  • Questions (2)
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Savings Accounts

Investments

Family

Retirement

Wedding

I am 24 years old with 50K in my traditional account (POSB). Where should I put my savings to maximise them? I would like to save for housing/wedding/car. Any advice?
ZhiHao
ZhiHao
Level 2. Rookie
Answered 3w ago
If this is money that you intend to use for big purchases in future, I would not put it into anything that bears good amount of risk. With the little information you provided, I will make two assumptions; 1) You have a monthly salary credit $2,000, 2) You cannot meet a minimum credit card spending of $500/mth. I would recommend you put $10,000 in SingLife (2.5%/annum interest), and the rest in a DBS multiplier account. With a salary credit and meeting one other category, you would be able to get at least 1.6%/annum on the deposit.
šŸ‘ 1

Investments

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Stocks Discussion

Online Brokerages

When people say invest with leverage or borrow to invest , do they mean share financing? Or is there another way to borrow money to invest?
ZhiHao
ZhiHao
Level 2. Rookie
Answered 3w ago
There are many ways to invest through leverage. Their concepts are all the same, to invest with money that you do not have. Some of the ways you can gain leverage are: 1) Share Financing 2) Brokerage CFD accounts allow leveraged trading 3) Applying for personal/credit card loans
šŸ‘ 0
Level 2. Rookie
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