We’re here to answer the question on all our minds - where should the Average Singaporean put their money at?
Who the ‘Average Singaporean’ is:
Monthly gross salary (including employer + employee CPF contributions): $4,680
Monthly take-home salary: $3,200
Emergency savings: $20,000
Where you can consider putting their emergency savings ($20,000) into:
High Yield Savings Account:
SCB Bonus Saver: $826 annual interest
Robo Advisor Cash Management Option:
Low risk | MoneyOwl Wise Saver: $780 annual interest
High risk | StashAway Simple™ Plus: $1,000 annual interest (btw this is a new product by StashAway!)
Singapore Savings Bonds (June 2023):
$562 annual interest
$5,626 interest if held to maturity, 10 years
We also want to create stuff that helps you in your financial journey!
If you have the time, we’d love to hear from you:
You can also drop us a DM or reply to this email directly if you have any feedback.
In the meantime:
Stay woke, salaryman.
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wanna learn more about how to prepare for future living expenses - considering annual inflation rates, will a basic monthly sum for expenses go from $1000 to $10K?
I voted for "Learning about new products", but not so much for your user reviews, rather for how you would assess them if presented/pitched to you by sales person.