View Full Version : eldery parents downgraded flat and got 100k cash. put where?
ideas anyone?
currently money is in thier POSB joint account.
feel like a bit wasted to keep there with so little interest.
But so old liao, also dun want them to take much investment risk.
I am not an investment savvy person.
Anything that is flexible that can let them use the money anytime if needed?
sgkingkong
27-08-12, 23:44
If it's the only 100k they have, I suggest just leave it in some FD. If it's one of the many 100k's they have, then they can take more risk.
CIMB bank's starsaver account earns 0.8%pa interests credited monthly. No strings attached.
http://www.cimbbank.com.sg/index.php?ch=sg_per_st&pg=sg_per_st_cur&ac=12&tpt=cimb_sg
ideas anyone?
currently money is in thier POSB joint account.
feel like a bit wasted to keep there with so little interest.
But so old liao, also dun want them to take much investment risk.
I am not an investment savvy person.
Anything that is flexible that can let them use the money anytime if needed?
Ntuc got a product where u deposit , say certain amount I think 30k, for the first 5 years no return. There after evey month u get 100bux every months ..
My in law had being enjoying 100 bux every months.
Ntuc got a product where u deposit , say certain amount I think 30k, for the first 5 years no return. There after evey month u get 100bux every months ..
My in law had being enjoying 100 bux every months.
This is equivalent to a Ponzi scheme.
i put $$$ into cpf life for my mum shes happy every month get a few hundred $$ for rest of life
This is equivalent to a Ponzi scheme.
Abit like bingo.. If the folk health at pink of health. Then can enjoy, otherwise......
ideas anyone?
currently money is in thier POSB joint account.
feel like a bit wasted to keep there with so little interest.
But so old liao, also dun want them to take much investment risk.
I am not an investment savvy person.
Anything that is flexible that can let them use the money anytime if needed?
If they need the money..
then you shouldn't have sold the flat.
Just rent out one room for $700 dollars.
But since you sold.. then the only solution is to ask yourself whether you and your parents can take the risk. if you have to ask about where to invest., Investments in shares and bonds and other things are too risky for your parents and you. So I also dunno what to do. The safest I think is deposit already , but it pays too little. Put into CPF ..is cannot take out and in emergency, you can forget about asking the govt.
Global bonds fund?... check with UOB
Can put in US$, SGD$ or AUD$, returns in ascending order... there is a one-time sales charge involved (which depends on your commitment amount) but you can pull out anytime. Currently, you probably can get about average $500 every month for $100K... something to consider.
I had another tenant which refuse to sign new tenancy agreement with me as new landlord saying that he do not have a contract with me. Something the lawyer part screwup...
I told me that is fine for me , since no contract and now I the legal owner, I give him 2 days to move out...
End of the day, we need to get the lawyer to consider his existing tenancy and the whole buying transaction legal thingy become inclusive of all.
Effectively u buy over the unit , literally u take over the liabilities...
phantom_opera
28-08-12, 09:23
Buy bank preference shares in stock market but dun blame me if suffers capital loss
100k cash? yummy! showhand on tiger airways:D
100k cash? I recommend put inside biscuit tin or hide under mattress. Just kidding. :D
I had another tenant which refuse to sign new tenancy agreement with me as new landlord saying that he do not have a contract with me. Something the lawyer part screwup...
I told me that is fine for me , since no contract and now I the legal owner, I give him 2 days to move out...
End of the day, we need to get the lawyer to consider his existing tenancy and the whole buying transaction legal thingy become inclusive of all.
Effectively u buy over the unit , literally u take over the liabilities...
Very interesting bro..SO what you think TS should do with 100k...lend to tenant at 10% interest...:D:D:D:D:D:D:D
i think you are answering someone else thread where he bought apt with tenancy now tenant moving out...:D
Allthepies
28-08-12, 12:54
Global bonds fund?... check with UOB
Can put in US$, SGD$ or AUD$, returns in ascending order... there is a one-time sales charge involved (which depends on your commitment amount) but you can pull out anytime. Currently, you probably can get about average $500 every month for $100K... something to consider.
sound interesting, will the bond price drop if interest rate rises? i'm looking for something tat can hedge against rising interest rate...
Should increase because the cost of borrowing goes up.
sound interesting, will the bond price drop if interest rate rises? i'm looking for something tat can hedge against rising interest rate...
Should increase because the cost of borrowing goes up.
Interest rate up ==> Bond prices down.
Oops ... that's right, my bad...thanks for pointing out....
Interest rate up ==> Bond prices down.
Very interesting bro..SO what you think TS should do with 100k...lend to tenant at 10% interest...:D:D:D:D:D:D:D
i think you are answering someone else thread where he bought apt with tenancy now tenant moving out...:D
Yalor , using multi page and reply wrongly .. By the time want to edit cannot , del lagi can not ...
Man is proven can not multi task ...:ashamed1: :ashamed1:
kskong2000
28-08-12, 22:19
Buy Singapore government securities or T bill..Need to consider if you may have emergency use or worry about the capital loss (due to increase in interest rate), you can buy a shorter period note such as 2 years or even 6 months. Yield better than FD and can be considered as risk free. If the Sg government default on the payment, you need to burn your SGD in the FD account anyway.
My 2 cent comment.
i put $$$ into cpf life for my mum shes happy every month get a few hundred $$ for rest of lifeThis is indeed a very attractive option provided the old folk is still expected to live another 20 yrs or more. Say at 60 yrs old it probably make sense to dump $80k into cpf annuity to get $400/mth over 20 yrs = $96k (estimated). My mum is on this scheme too. If folk is already 80 yrs young, then just use the $100k every month $1k = 100 months = 9 yrs. :cheers3:
Check with OCBC about the Bonus & Savings account. Not sure whether the promotion is still on. I think Interest is something like 0.2% only (if withdraw), if without withdrawing add another 0.55% + 0.45% (loyalty interest) and interest is paid out quarterly. But not sure whether it is meant for always or just for only 1 year.
Today's Headline
DBS BANK
DBS Bank has jacked up its fixed deposit (FD) rates in a bid to retain its customers.
Since Aug 15, Singapore's biggest bank has raised the FD rates for tenures of three to 24 months for amounts ranging from $1,000 to $999,999.
For three to five-month deposits, the new rate is 0.10 per cent, up from 0.05 per cent. For 18 months, the new rate is 0.50 per cent, up from 0.10 per cent previously. For 24 months, it is 0.55 per cent, up from 0.125 per cent.
For one to two-month deposits, the rate remains unchanged at 0.05 per cent.
A DBS spokeswoman said the revision was in alignment with market rates.
DBS's deposits dipped to $230.6 billion in Q2 from $232.2 billion in Q1.
The other two local banks - OCBC Bank and United Overseas Bank (UOB) - have so far opted for short-term promotions.
OCBC has upped the ante for its hybrid savings account. Yesterday, it offered savers $800 cash if they left $500,000 with the bank for at least six months, which will enjoy 1.08 per cent interest for certain months and 0.6 per cent in other months. The promotion is from Aug 29 to Sept 28.
UOB's seven-month FD promotion, which ends tomorrow, pays one per cent for a minimum deposit of $20,000.
BT understands that UOB will roll out more deposit promotions in the coming months.
thanks everyone who contributed! will update what they do with the 100k cash later on
thanks everyone who contributed! will update what they do with the 100k cash later on
JOKE:D...if really dunno what to do can transfer to this posb savings ac no
083-XXXXX-1...JOKE:D...PM me for the XXXXX:D
JOKE:D...if really dunno what to do can transfer to this posb savings ac no
083-XXXXX-1...JOKE:D...PM me for the XXXXX:DCan I PM u my xxx-xxxxx-0 instead for you to fill it up? :p
Geylang OKT
31-08-12, 10:43
I had another tenant which refuse to sign new tenancy agreement with me as new landlord saying that he do not have a contract with me. Something the lawyer part screwup...
I told me that is fine for me , since no contract and now I the legal owner, I give him 2 days to move out...
End of the day, we need to get the lawyer to consider his existing tenancy and the whole buying transaction legal thingy become inclusive of all.
Effectively u buy over the unit , literally u take over the liabilities...
U can do that since that is no existing TA. If you have existing TA which the previous owner had with the tenant, then you as the new owner are expected to honour it.
Geylang OKT
31-08-12, 10:45
thanks everyone who contributed! will update what they do with the 100k cash later on
Start a hanky panky massage parlour and employ china mei mei to give back rubs. See your capital investment double or triple in a few months :D
Of course, you can also go bust due to AV raids and see your 100k capital go up in smoke :D
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