Anonymous

15 Jan 2021

∙

Should I invest a low 6 figure sum for 4 months if I am going to withdraw it and buy a condo at the end of the 4 months?

My current goal is to buy a new condo in about 4-6 months, as I currently do not have enough money to do so now.

I was told that I should not invest any money that I need within the next 5 years, as investment is always a long game (time in market>timing the market) hence here's my question.

What would you do with 100k if you only have it for the next 4 months?
Let it sit in the bank? Invest in stocks? Bonds?

Any help would be greatly appreciated, thank you!

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Kok Hong

15 Jan 2021

Money market funds, can consider cash management services from the robo advisors

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Chris

14 Jan 2021

Owner and Writer at Tortoisemoney.com

I think some form of money market funds (Endowus Cash Smart, Syfe Cash+ etc.) would be a safer play. While these are technically still investments, the risk you are exposed to is much lower as compared to placing it in stocks.

Similar to these, insurance savings plans such as Singlife, Gigantiq can be considered as well, although these tend to have a cap on the amount that the advertised interest rates are applied on.

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I have a monthly salary of $3,900 only and $55k cash savings, no debt. Can I afford a studio condo as a single? What is the cheapest condo I can buy in 6 months’ time?

I am considering to do investing via Stashaway. Should I invest via monthly contribution or a lump sum of $20k? Also, any advice on what risk level I should set to get a return say, at least 4%? Thanks!?