Asked on 30 Jun 2020
I have been working for 3 years, am currently drawing about 4k after cpf and saves 3k each month. I don't have a fixed time frame to bto a new flat, pay for wedding or start a family but reckon i probably should set aside some money for these in the next 3-5 years. I hope to also invest the future savings. What might be the best strategy to grow my money?
Do up a time schedule for your time events. This will include budgeting for your home and wedding costs. Based on your savings rate, you will accumulate $180,000 in cash in 5 years, excluding bonuses and pay increments. Do you need all of it? If not, use a portion of your leftover savings to set them aside for long-term growth.
If you are hoping to use the money for the next 3-5 years, keep them in high-quality assets that do not fluctuate and keep your capital safe.
Investing in your future savings can be done from your existing cashflow.
You can use this here to project your wealth:
I can make no recommendations but only some of my own thinking/insights, better avoid the more risky things there:
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