Thursday, April 18, 2024

BEST Places To Park Your Money In Singapore 2024? You are all wrong

came back just so say that sinkie finfluenzas are really pathetic

kelvin learns investing

i watch many different sinkie yewtube finfluenzas talk about this every other month to get easy views, once some banks change rates

they all are wrong

the end game high level answer is wise interest

it is a "bank account" that *can invest all your cash into money market funds

but since it works like a bank account, there is no liquidity downtime

the catch here is that wise charges a 0.25% fee on top of the mmf fund manager fee, but is it worth it?

you get cash-like liquidity with mmf like returns, i think the answer is very obvious

you might think that wise has a balance limit, which is correct, if you hold plain cash only

if you opt in for interests, your balance becomes unlimited

i hold 6 digits in wise

i said "bank account" because its not really a bank account. it is not covered under SDIC and it is only a MPI, rather than a bank, by MAS classification

dont waste your time with all the different bank accounts with limits and gimmicks, unless they are things you already do and just fits into your workflow


i share this wise lobang because i think innovative companies like this deserve to earn from your balances more than other institutions

but its probably the best solution that you've never heard of

it is a bit disgusting how finfluenzas dont talk about this

they only know how to talk about things with affiliate codes

if you want something with minimal fees / max returns and don't mind a bit of liquidity downtime, any of the cash managemenet accounts by any of the brokers that just dump into money market funds can work

if you want to lock up your cash for long term, you are stupid

the point of cash is liquidity, and if you give up liquidity, you are an idiot

fixed deposits and tbills are for financially illiterate people


do not look for better instruments with zero drawdowns

become a better investor that is okay with drawdowns


a famous person once said

life is all risk, and then you die

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