facebookWhat do I do if I have the sum of $2K in my POSB saye account which is gonna be done for 2 years? Going to ord in July this year. Continue saving or use half for vacation to de stress? - Seedly
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Anonymous

Posted on 05 Jun 2018

What do I do if I have the sum of $2K in my POSB saye account which is gonna be done for 2 years? Going to ord in July this year. Continue saving or use half for vacation to de stress?

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10 answers

Discussion (10)

Dylan Teo

Dylan Teo

Level 5. Wonderkid

Posted on 06 Jun 2018

Shiny Things (Joshua Giersch) from Hardware Zone Forum once said:

  • If money is needed within 2 years, keep them in cash

  • If money is needed within 5 years, keep them in cash / bonds

  • Else, keep them in stocks

I agree. Also, for young millenials like us who do not have a constant income (assuming you are continuing your education after you ORD), the returns we get from the meagre sums we invest are honestly almost negligible. I think it's a much better choice to invest in yourself, meaning to say, pay for experience and memories that will empower and enrich you!

It'd make more sense in the long run because you increase your employability and therefore your disposable income as well, allowing you to invest more.

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Post

Hey Anon, great job on saving money while in NS, definitely not easy.

Question, are you continuing your studies after ORD? If yes, you should save some money for your time in school.

If you're immediately out working and have secured a job, don't be guilty in wanting to enjoy a lil bit before your next phase in life.

Also, right now is the best time to pick up a skill someone would pay for. This would help you increase your income streams in the future, and if you're studying, you could do this while in school to pay for your own pocket money.

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Post

Kenneth Lou

Kenneth Lou

Level 15. Grandmaster

Updated on 07 Jun 2019

Would recommend taking a breather. Or even taking $1k out of that to learn something new via a cours...

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