Hi! We have about 40k in cash in various bank savings account. Is it wise to invest it right now? Keeping in mind I just worked for 3 months (fresh grad) and am planning to get married next year.? - Seedly
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Anonymous

Asked 1w ago

Hi! We have about 40k in cash in various bank savings account. Is it wise to invest it right now? Keeping in mind I just worked for 3 months (fresh grad) and am planning to get married next year.?

About 8k of the 40k is currently in Stashaway. Working hard so that we can afford about 50k for resale 3-room flat DP. Will spend about 15k for a small wedding. I'm currently earning 3.3k before commissions (about $500 a month), and my partner is earning 2.8k before CPF. On average we are saving about 3k in total. Should we look at investing some money in ETFs/Unit Trust if we plan to withdraw next year? Any suggestions for other short term investment very welcome!

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Tan Wei Ming
Tan Wei Ming
Level 6. Master
Answered 6d ago

Knowing that you are going to use the funds in one year time. I generally do not recommend in investing. Yes, some might say that investing will grow your monies you need quickly but I feel that it is risky to put monies that you need in the near future because you don't know whether will there be a black swan event that causes the market to crash again.

I would recommend putting these monies in safer instruments like Singlife, Dash Earn by Singtel or high yield bank account. This way your capital will be guaranteed and you will still earn some interest from it.

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ūüĎć 2
Question Poster

6d ago

Thank You! I might consider SingLife as bank accounts are all lowering their interest rates like crazy :(
Tan Wei Ming
Tan Wei Ming

6d ago

Yeap! I am using Singlife for the moment while still keeping Jumpstart while waiting for opportunities to enter the market.