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I have just started an SRS account. Can I park it in Stashaway Simple Cash until I find a better use?
Is it possible to start with Stashaway Simple to use my SRS funds until I have made a final conclusion on how to invest it long term? I am thinking of Endowus, also my bank UOB tries to sell me some "special" trusts or so. So I need more time to check that. Can I use Stashaway now and then change it later? How would that work?
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Shengshi Chiam, CFA
11 Jan 2020
Personal Finance Lead at Endowus
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Sorry to Tag on but I have a related question. Is it possible to split srs investment? Let's say I have 10k. 5k I use with the bank, 5k with robo? Possible?
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It is possible. Whatever you sell/redeem for SRS with other platforms (like stashaway) will be returned back to your SRS account. Then you can invest in your UOB "special trusts" or Endowus if you so wish to.
If you are worried that the market will tank this year, you can do a regular savings plan/DCA with us, and it would be cost efficient since we don't have any transaction cost.
Also, if you are uncomfortable with huge drops in the market, our risk profiling would have allocated you a more conservative portfolio (say 20% bonds 80% equities).
You can read up about how we make SRS investing efficient for our customers here.
https://endowus.com/insights/4-reasons-why-endo...