HWZ Forums

Login Register FAQ Mark Forums Read

What to do with cash lump sum being saved for a house?

Reply
 
LinkBack Thread Tools
Old 11-06-2018, 07:35 PM   #1
Junior Member
 
Join Date: Aug 2016
Posts: 66
What to do with cash lump sum being saved for a house?

Hi money minders

Want to ask advice on what to do with cash that you all are setting aside for big ticket purchase (e.g. house)
Me and fiancee are saving for a house and have about 60k set aside.
Due to our circumstances (her name is on a private property bought by her dad) we will probably not buy anytime soon- maybe 2-3 years. I would prefer to leave it relatively liquid but I dont need to have it in cash the next day.

What would be the best way to invest this money but still be relatively liquid? Park in high interest rate account like ocbc 360? Buy SSB?
duckyboi is offline   Reply With Quote
Old 11-06-2018, 07:41 PM   #2
Senior Member
 
Join Date: Apr 2014
Posts: 996
High interest bank account should be best, split it between the two of you and try to not cap the maximum limit they will allow the high interest on.

How much interest can you qualify for if you do it in such an account? How much do you expect to be able to save a month? What about your fiancee? Need more relevant info.
__________________
Prudential Agent
Lewis.T is offline   Reply With Quote
Old 11-06-2018, 07:43 PM   #3
Master Member
 
swordsly's Avatar
 
Join Date: Jan 2008
Posts: 3,116
Hi money minders

Want to ask advice on what to do with cash that you all are setting aside for big ticket purchase (e.g. house)
Me and fiancee are saving for a house and have about 60k set aside.
Due to our circumstances (her name is on a private property bought by her dad) we will probably not buy anytime soon- maybe 2-3 years. I would prefer to leave it relatively liquid but I dont need to have it in cash the next day.

What would be the best way to invest this money but still be relatively liquid? Park in high interest rate account like ocbc 360? Buy SSB?
2-3 years, just leave it in high yield bank account(s).

Even for this month's SSB, 2-3 years will only net you 1.95% and 2.08% averaged return. And besides, you will likely have to subscribe a few month's to be able to fully allocate your 60k.
swordsly is offline   Reply With Quote
Old 11-06-2018, 07:57 PM   #4
Master Member
 
Join Date: Dec 2003
Posts: 3,090
I'm in kind of the same situation as you. Maxed out SSB and the remaining in high yield account.
blue_line is offline   Reply With Quote
Old 11-06-2018, 08:34 PM   #5
Junior Member
 
Join Date: May 2006
Posts: 92
Same for me..
Except the sum i m saving is much more so am putting into all the different prority account and premier banking where it qualifies for much higher rates, more perks like travel lounge.
Also subscribed to the GE270 and ssb to add on amd stagger all the deposit maturity date so there will always be cashflow coming in

I'm in kind of the same situation as you. Maxed out SSB and the remaining in high yield account.
coffee_boy is offline   Reply With Quote
Old 11-06-2018, 11:45 PM   #6
Member
 
Join Date: Mar 2018
Posts: 186
I have 350k cash now so do u guys think I shd buy a unit or hold ?
Ahboy069 is offline   Reply With Quote
Old 12-06-2018, 08:24 AM   #7
Member
 
Join Date: Nov 2007
Posts: 145
just dump in tbills
blackiller is offline   Reply With Quote
Old 12-06-2018, 11:28 AM   #8
Moderator
 
tangent314's Avatar
 
Join Date: Jul 2002
Posts: 3,178
There's a 2 year SGS issue coming up in end August, NY05100N
tangent314 is offline   Reply With Quote
Old 12-06-2018, 11:41 AM   #9
SBC
Supremacy Member
 
Join Date: Mar 2001
Posts: 7,720
Suggest to utilize high-interest eg UOB One Account.

They are above 2%.

Should keep them as liquid as possible. Especially so for family.
Meanwhile, target to grow to 100k if targeting property.
SBC is offline   Reply With Quote
Reply
Important Forum Advisory Note
This forum is moderated by volunteer moderators who will react only to members' feedback on posts. Moderators are not employees or representatives of HWZ. Forum members and moderators are responsible for their own posts.

Please refer to our Terms of Service for more information.


Thread Tools

Posting Rules

Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are On