Standard Chartered JumpStart Account
Asked on 08 Apr 2020
I'm asking this because the the worse has yet to come for US, especially since they severely lack the necessary medical supplies.
Hey Anon, it really depends if you need the money in the short term. If yes, do withdraw and place it in Jumpstart or Singlife Account for 2% or 2.5% interest p.a respectively. Otherwise, just leave it and let it roll long-term. Either way, you should adopt a long-term approach for your investments, ignoring the current market noise (Yes, I know it's hard). There are many articles from Stashaway, MoneyOwl etc. which touch on this point.
This is a good thought to have, I'm personally in a similar boat as you. My Stashaway account use to be up at 30% profit, now its down to around 10% profit since.
While I don't think the future is that certain as to whether US will cope well with the impending crisis, it is really up to you to decide if you want to hold on to your funds which are currently still in the account.
For me personally, Im keeping my funds in the Stashaway account as I plan to ride it out for the longer term, and also because my JumpStart is already filled to the max.
You can consdier the SingLife account as well as something for you to consider (at 2.5% p.a for the first 10k). Hope this helps in one way or another!
08 Apr 2020