facebookHi. I am 45 years old, and looking to retire at 55. I have $300k cash savings now ($100k in SSB), with no debt. What should I do with the remaining $200k? - Seedly
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Anonymous

Asked on 27 Jun 2020

Hi. I am 45 years old, and looking to retire at 55. I have $300k cash savings now ($100k in SSB), with no debt. What should I do with the remaining $200k?

Hi. I am 45 years old, and looking to retire at 55. I have no debt, and have emergency funds for 6 months. I have $300k cash, of which $100k is in SSB with an effective interest of 2.58% and 2.78% for 50k each, if held for 10 years. What should i do with the remaining $200k? They are now in FD. Thanks!

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Eddie Tay

Level 3. Wonderkid

Answered on 19 Aug 2020

Have you considered maxing out your SA in CPF now? The compounding interest upon your retirement can put you on the enhanced retirement scheme (ERS) of CPF Life which pays out $2k+ after 65.

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Thank You!
Can you clarify
I wonder if
This is so helpful 👍
What about

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Jay Hou

Jay Hou

Level 5. Genius

Answered on 15 Aug 2020

Never annuity! Since u r cash- rich :

Metro -

has 2 bonds, namely the S$150m METRO 4.000% 25Oct2021Corp (SGD) and S$200m METRO 4.300% 02Apr2024 Corp (SGD). At the indicative ask prices of 100.19 and 99.13, they carry ask yields to maturity (“YTM”) of 2.98% and 4.56% respectively.

u definitely can cough out 250K!

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Jay Hou

Jay Hou

15 Aug 2020

I have hardly seen an annuity w good returns esp those that are provided by a financial planning/insurance firm. Also, he is retiring in 10yrs time, i have also not seen annuity ie designed to be 10yrs or lesser

Jay Hou

Jay Hou

15 Aug 2020

Here are some other options https://seedly.sg/questions/hi-i-am-currently-40-i-have-around-30k-spare-cash-for-investment-what-are-the-best-option-available-for-high-returns-for-the-next-10-years

Thank You!
Can you clarify
I wonder if
This is so helpful 👍
What about

Post

Sharon

Sharon

Level 7. Grand Master

Answered on 24 Jul 2020

Looks like you can consider annuities since this type of product needs a single premium. Good to con...

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