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Anonymous

20 Oct 2020

Property

How can I buy HDB resale by investing next 3 years?

Hi Guys, I recently got the SPR and from now monthly I can save 5K. After 3years planning to buy Resale HDB and want to settle down in Singapore. My current age 35.
Please advise me on investment options for buying HDB and long-term investment plan. Thank you in advance.

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Elijah Lee

20 Oct 2020

Senior Financial Services Manager at Phillip Securities (Jurong East)

Hi anon,

If you're getting a HDB in 3 years, the best thing you can do is to just save up. You may have options such as FD, money market funds or short term endowments, but you generally shouldn't invest if the money will be needed in 3 years.

For long term investing options, your question is really too general, but I can say that if you are planning to invest for retirement, then you must plan to have income producing assets in your portfolio. At this point we don't know what your plan is, nor when you want to execute it, and what age do you expect to achieve your goals. It's great that you want to start investing, and have the capacity to do it, but before you even begin, you need to have a framework and an end goal in mind, or else you will just end up investing in a haphazard way. So I'll suggest you think about those first.

I'll suggest that you take a look at some other answers of mine to have an idea about retirement income planning:

https://seedly.sg/questions/i-am-a-52-male-sing...

or

https://seedly.sg/questions/retirement-fund-pla...

Once you have some ideas, you may be able to have a direction and eventually more specific questions about your situation can be asked. You can even ask again as a reply to my answer.

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