Asked by Anonymous
I don't really have much knowledge on investment!
Just a suggestion on allocation. You can adjust according to your comfort levels.
Keep 30k in a bank account with a good base interest rate and tell yourself not to touch it. With the rising SIBOR i recommend citibank maxigain. These will be your emergency funds. After a while, see if a multiplier account may work better as you develop your spending habits. But the risk of keeping it all in one account is that you will feel more tempted to spend it.
Put $10k in singapore savings bonds. Don't look at them for 10 years. No monitoring needed.
Just a suggestion on allocation. You can adjust according to your comfort levels.
Keep 30k in a bank account with a good base interest rate and tell yourself not to touch it. With the rising SIBOR i recommend citibank maxigain. These will be your emergency funds. After a while, see if a multiplier account may work better as you develop your spending habits. But the risk of keeping it all in one account is that you will feel more tempted to spend it.
Put $10k in singapore savings bonds. Don't look at them for 10 years. No monitoring needed.
Just keep the cash in liquid higher interest bank account. You will probably need to use some when u graduated. Either for further studies or maybe grad trip =D. Do not start to invest until you have learned at least the basics, and know what u are getting into.
It is worthwhile to get protected with insurance now (not ILP, not endowment, not wholelife). Go with the plain vanila term insurance, which offers highest protection per dollar. Avoid the agent channel and go direct insurance, you will be able to save alot.
Add me on facebook so that I can give u more pointers.