facebookI will need in the next 2-3 years for my tuition fees / studies, any good place to put 200k and upkeep? - Seedly
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Anonymous

Posted on 28 Jul 2020

I will need in the next 2-3 years for my tuition fees / studies, any good place to put 200k and upkeep?

Since I got these monies, private bankers have been reaching out to me to advertise for insurance plans!

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5 answers

Discussion (5)

Hi anon,

Please don't put $200K (or any amount of money, for that matter) into anything with a lock in if you think you might need it in the next 2-3 years.

The only exception may be a 2 year or 3 year short duration endowment, but even that has risks, for example, what if you need the money a little earlier?

You can split your money into a few tranches, say 4 parts. Beyond keeping one part liquid in a high interest saving accounts without any criteria, you can divide the rest amongst money market funds, FDs, and the previously mentioned short duration endowment. These should ensure a balance between liquidity and maximizing growth of the funds without taking on undue risk.

I won't recommend investing these funds in equities, ETFs etc, as you might have to liquidate at a low if the markets crash right before you need the money.

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Post

Zi Shuen

Zi Shuen

Level 9. Genius

Posted on 04 Aug 2020

Don't buy insurance plan or savings plan, especially ILP.

If you need the cash in 2-3 years, then park them in low risk high liquidity instrument such as bonds, high yield savings account, FD, or cash management solution such as StashAway Simple.

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Hi,

You may need to spend your 200k during your university for opportunities.

I would suggest you n...

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