NewbieBest Savings Strategy?
What is the best low-risk way to protect your savings/emergency fund against inflation?
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)!
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,