My hubby and I will get a home in a year. Our renovation budget is $50,000. We are saving $4,000/month. Instead of keeping the money in a savings account, how should we invest it even for just a year? - Seedly
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Anonymous

Asked on 12 Mar 2019

My hubby and I will get a home in a year. Our renovation budget is $50,000. We are saving $4,000/month. Instead of keeping the money in a savings account, how should we invest it even for just a year?

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Investing horizon too short, should not go for high risk equity products. Can try short term fixed D or just leave it in a HISA

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Z

Zac

Level 4. Prodigy

Answered on 09 Aug 2020

Singlife Account, short term endowment plans.

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Tinexxxx

Tinexxxx

Level 6. Master

Answered on 07 Aug 2020

Savings account?

  • Singlife 2.5% p.a ((first 10K only))

  • Standard Chartered Jumpstart 1% p.a

Hmmm if you’re ok with dealing with some risk -> Robo Advisor!!

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LB

Lim Boh Juin

Level 2. Rookie

Answered on 07 Aug 2020

Going to disagree with all the above answers. Would say put into a robo cash fund account with a projected return 2% would be q safe.

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Rais M

Rais M

Level 7. Grand Master

Answered on 26 Feb 2020

This money is something you cannot lose. The next best alternative for something as liquid as bank will be the investing in the money market or with the Singapore Savings Bonds.

Don't even think about investing it in stocks and shares as you should not be taking any unnecessary risks.

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Geraldo L.

Geraldo L.

Level 7. Grand Master

Answered on 26 Feb 2020

Go for low risk instrument that are capital guaranteed, e.g. SSB, endownments, savings account.

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MT2020

MT2020

Level 7. Grand Master

Answered on 26 Feb 2020

If you want to invest for a year, you should put it in a low risk instrument such as singapore savings bond.

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Aik Kai

Aik Kai

Level 7. Grand Master

Answered on 12 Mar 2019

If you have Multipler or OCBC 360 bank account, just keep it there. You need liquidity so don't put it elsewhere in my opinion.

Besides, these bank account gives quite decent interest every month so it is not a bad idea.

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Yong Kah Hwee

Yong Kah Hwee

Level 8. Wizard

Answered on 12 Mar 2019

For such a short time horizon, it is better to go with something with very low risk, and as liquid as possible.

Consider fixed deposits, high interest savings account or Singapore Savings Bond.

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