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SnapperJR
Newbie
Best Savings Strategy?What is the best low-risk way to protect your savings/emergency fund against inflation?
Replies
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For my emergency fund, I have a fixed deposit with POSB.
For my rainy day fund (unexpected circumstances not as serious as emergencies), I have an account with Singlife. I may look into transferring this rainy day fund to a cash management account with StashAway or Syfe since the interest rate for Singlife will decrease to 1.0% per annum this coming July.And my retirement planning, I regularly top up my CPF and SRS accounts. In fact, if I get some spare cash from doing surveys and the like, I will transfer it directly to my SRS account (with POSB)!
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Consider higher interest saving account. Stashaway simple, FD or the DBS multiplyer if you hit the category, but best henge against inflation is always asset be it property, stock, bond,