Where should I put 10k right now? I do not have the time to monitor stocks and it's too high-risk for me so that's a no-go. Preferably a place where my capital will not decrease. I recently saw SSB and wonder if that's the best place right now? - Seedly
Seedly logo
Seedly logo
 

Anonymous

Asked on 28 May 2019

Where should I put 10k right now? I do not have the time to monitor stocks and it's too high-risk for me so that's a no-go. Preferably a place where my capital will not decrease. I recently saw SSB and wonder if that's the best place right now?

0 comments

13 answers

Answer Now

Answers (13)

Sort by

    Junus Eu

    Junus Eu

    Level 9. God of Wisdom

    Answered on 29 May 2019

    If you only want to put it into a place where your capital does not decrease, you can consider the following:

    High Yield Savings Accounts

    While not technically an investment, a high interest rate yielding savings account can give you a 2-3% p.a. interest rate. Additionally, if it's not conditional on minimum spending, it's very easy to manage since there isn’t much to do after opening your account.

    Fully Secured Bonds

    Fully Secured Bonds are another excellent low-risk investment option.

    Certificate of Deposits

    A Certificate of Deposit is also considered to be a pretty safe investment. When you invest in term CDs, the bank assures a guaranteed interest rate over a specific time period, or variable-rate CDs where the interest rate is tied to some type of index – like a stock market index.

    Fixed Deposits

    This is a financial instrument provided by banks or NBFCs which provides investors a higher rate of interest than a regular savings account, until the given maturity date. It

    ETFs

    Slightly higher risk then the previous options mentioned, ETFs look to give you exposure to a basket of underlying assets, to create an index that mimics the market index or a market theme. The benefit is that they provide instant diversification. You could look at the various robo advisors to help automate the investing process for you.

    0

    Thank You!
    Can you clarify
    I wonder if
    This is so helpful 👍
    What about
    Post

    Hi Anon,

    I don't thing SSB is advisable at the moment. However, there are plenty of safe ways to invest your money and have it grow. As you said that you do not have the time to monitor stocks, You can go for REITs, other ETFs and bonds, but before you do that, I'd suggest you go for a Robo-advisory platform. Robo-Advisory platforms assess your current financial position and recommend a portfolio strategy after reviewing your risk profile. These bionic advisors are still not very different from your ordinary financial advisors as both options will still have a management fee incurred for users. The difference lies with the amount, as Robo-advisors have lower management fees. And the best part is that they give you the most unbiased advice.

    You can read here for a better understanding.

    I work at Kristal.AI, and my mojo is to help people make the right financial decisions. If you think I helped you, do give me "Thumbs up". If you think my response was biased let me know, I will work on it.

    I hope this helps you make the right decision.

    0

    Thank You!
    Can you clarify
    I wonder if
    This is so helpful 👍
    What about
    Post
    Thaddeus Tan

    Thaddeus Tan

    Level 6. Master

    Answered on 29 May 2019

    Yo, SSB imo not doing very well now. it was better in the past. If you don't have time to monitor stocks, you can consider robo-advisors for a start. Should you need more info on robo-advisors, you can check out an episode on SeedlyTV here. Alternatively, you can also read more about the Temasek Astrea bond here.

    There are various robo-advisors in SG namely Stashaway, Smartly, Autowealth, Endowus and MoneyOwl. You can find out more about each of these robo-advisors and see the reviews that they have. Hope this helps!

    0

    Thank You!
    Can you clarify
    I wonder if
    This is so helpful 👍
    What about
    Post
    Edwin Koh

    Edwin Koh

    Level 4. Prodigy

    Answered on 29 May 2019

    Then your only options left is endowment plans and SSB since that your risk level is very Low and this two are the lowest risk

    0

    Thank You!
    Can you clarify
    I wonder if
    This is so helpful 👍
    What about
    Post

    You can consider SSB, high interest saving accounts such as DBS multiplier, OCBC 360, UOB stash or endowments plans

    0

    Thank You!
    Can you clarify
    I wonder if
    This is so helpful 👍
    What about
    Post
    Frankie Rappaport

    Frankie Rappaport

    Level 10. Unicorn

    Answered on 27 Feb 2020

    If you can put the money away for more than 5 (better 10) years you could consider: VT or VOO (ETFs)

    0

    Thank You!
    Can you clarify
    I wonder if
    This is so helpful 👍
    What about
    Post

    You can try buying an endowment. Occasionally insurance companies will launch an endowment plan with high interest (e.g. 2.3% to 2.5%) but you'd need to lock it in for 3 to 5 years or longer. This is capital guaranteed so it will address your concern of losing capital.

    0

    Thank You!
    Can you clarify
    I wonder if
    This is so helpful 👍
    What about
    Post
    Geraldo L.

    Geraldo L.

    Level 7. Grand Master

    Answered on 27 Feb 2020

    For capital guaranteed options, I would usually go for SSB, savings account, endownment plans, and fixed deposits.

    0

    Thank You!
    Can you clarify
    I wonder if
    This is so helpful 👍
    What about
    Post
    MT2020

    MT2020

    Level 7. Grand Master

    Answered on 27 Feb 2020

    A good place to put 10k would be in high interest savings account or into singapore savings bond as they have low risk.

    0

    Thank You!
    Can you clarify
    I wonder if
    This is so helpful 👍
    What about
    Post

    If I woke up in your shoe, having $10K without any immediate use in the near future I would probably throw it to my StashAway account.

    0

    Thank You!
    Can you clarify
    I wonder if
    This is so helpful 👍
    What about
    Post
    Billy Ko

    Billy Ko

    Level 7. Grand Master

    Answered on 20 Jan 2020

    Since you're rather risk-averse, you could consider RSP-ing in an ETF. That way, you get to practice dollar cost averaging, and you need not monitor the prices of your investment as well. Dividend yield is about 3% a year, much more decent than putting it in the bank account

    0

    Thank You!
    Can you clarify
    I wonder if
    This is so helpful 👍
    What about
    Post
    Kenneth Quek

    Kenneth Quek

    Level 5. Genius

    Answered on 25 Nov 2019

    You didn't mention when you would need the 10k, only that you are risk adverse. Wonder if you have considered CPF SA for a guaranteed 4%pa. Of course, downside is that you don't get to touch it until you retire.

    0

    Thank You!
    Can you clarify
    I wonder if
    This is so helpful 👍
    What about
    Post

    High yielding fixed deposit or savings accounts would be a good idea if you are risk adverse. Alternatively, you can explore robo advisories like stashaway and consider their low risk portfolios. Hope this helps.

    0

    Thank You!
    Can you clarify
    I wonder if
    This is so helpful 👍
    What about
    Post