facebookWhere 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
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Anonymous

Posted 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?

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13 answers

Discussion (13)

Junus Eu

Junus Eu

Level 15. Grandmaster

Posted 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.

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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.

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Thaddeus Tan

Thaddeus Tan

Level 8. Genius

Posted 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 st...

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