SRS - what to invest in?

[BanCoe]

So now finally can use for SSB bonds

[Kusje]

What's the interest rate for SRS?

[Kangadrool]

It's not meant for you to earn interest, where CPF will pay you much higher.

 

I think worth investing only with bao jiak stocks. Forget all those giving less than 5% pa return.

[Aloe111]

It's not meant for you to earn interest, where CPF will pay you much higher.

 

I think worth investing only with bao jiak stocks. Forget all those giving less than 5% pa return.

Which stock(s) are bao jiak? Without hindsight

[Enye]

What's the interest rate for SRS?

savings account interest rate

 

so need to invest the funds instead of just leaving inside

 

 

[Throttle2]

Sibei cheem.

I dont understand a single word

[Angcheek]

Sibei cheem.

I dont understand a single word

[Throttle2]

[Angcheek]

So now finally can use for SSB bonds

200k limitation ???

[Angcheek]

savings account interest rate

 

so need to invest the funds instead of just leaving inside

 

ð

U mean this ssb only earn saving acct INT ?

[BanCoe]

U mean this ssb only earn saving acct INT ?

I think the interest rate is pathetically low at maybe 0.10-0.2% depending on the Bank you maintain your SRS account for your balance in SRS account

The SSB pays currently ( depending on the tranche) currently it pays 2.18% on average provided you hold it for 10 years ...... here is the illustration....currently the SRS does not avail you the FD promos by the bank ( I just don’t know why )nor can you use those FD promos by CIMB or ICBC or SBI has to be only OCBC ,DBS,UOB only as far as I know , SSB Bonds you can prematurely break them earning the interest on 1st line , but anyways you can withdraw only currently at 62 only

Edited February 13, 2019 by BanCoe

[Ct3833]

ð ... dont think u interested .

 

Any good recommendation to invest ... roi 5 to 10% will be enough ð i not greedy

This kind of return must talk to mdm Ho already.

 

But dont forget, for those who have thick income, the $15.3k SRS contributions could save him up to 22% income tax already, that is equivalent to 7+years of 3% YoY non compuoinding gain even if he does nothing. So just invest in some safe instruments is good enough.

Edited February 13, 2019 by Ct3833

[Kusje]

savings account interest rate

 

so need to invest the funds instead of just leaving inside

 

ð

Thanks sifu.

 

I'll look into it this weekend.

[Angcheek]

I think the interest rate is pathetically low at maybe 0.10-0.2% depending on the Bank you maintain your SRS account for your balance in SRS account

The SSB pays currently ( depending on the tranche) currently it pays 2.18% on average provided you hold it for 10 years ...... here is the illustration....currently the SRS does not avail you the FD promos by the bank ( I just don’t know why )nor can you use those FD promos by CIMB or ICBC or SBI has to be only OCBC ,DBS,UOB only as far as I know , SSB Bonds you can prematurely break them earning the interest on 1st line , but anyways you can withdraw only currently at 62 only

508170D9-16DF-45E2-A28E-479FC26D3E57.png

 

 

If I put into SRS , earning pathetic INT as good as no INT, therefore reinvest to SSB with 1.9 to 2.1 %  . 

Almost the same as FD out in the open market. I dont really see the good point of it . 

 

A friend also shared about SRS  with me (also norm saving INT) . The only Good point was the tax relief (but only after you retired at 62) .  First 20K fee tax + subseq amount 50% tax fee .  But then Im thinking , which is better , have the money stuck in there with saving INT + tax relief later , or 

putting into FD now and earn higher INT. 

[BenTong]

If I put into SRS , earning pathetic INT as good as no INT, therefore reinvest to SSB with 1.9 to 2.1 % .

Almost the same as FD out in the open market. I dont really see the good point of it .

 

A friend also shared about SRS with me (also norm saving INT) . The only Good point was the tax relief (but only after you retired at 62) . First 20K fee tax + subseq amount 50% tax fee . But then Im thinking , which is better , have the money stuck in there with saving INT + tax relief later , or

putting into FD now and earn higher INT.

Use la and be happy

[Angcheek]

Use la and be happy

 

haha nothing to use one . I simple man , have simple life . 

[Angcheek]

This kind of return must talk to mdm Ho already.

 

But dont forget, for those who have thick income, the $15.3k SRS contributions could save him up to 22% income tax already, that is equivalent to 7+years of 3% YoY non compuoinding gain even if he does nothing. So just invest in some safe instruments is good enough.

 

U mean hitting the 22% bracket ? that is very high salary liao lor .... I think 15.3K is peanut to them .    

 

Anyway , talk about Income tax , I noticed in 2018 my income tax increased quite alot although my salary only up by 3% .     

[BanCoe]

As I mentioned the Banks (there only 3 of them allowing opening of SRS accounts and they are in cahoots)

Current SSB tranche pays 2.18 % average if you hold to 10 years, shorter perioid might be only 1.95% which is still not bad

Whenever the 3 Banks offer any FD promo they will always put an exclusion that SRS funds are not entitled for the promo rates, only their regular rates which are pathethic

Hence if you dont want to dabble in stocks then the SSB Bonds provide quite a relief to otherwise pathetic savings account interest

Also SSB minimum is only 2K

Of course CPF will give you minimum 3.5% upto 5%, depending how you juggle and apportion the funds 

Choice is yours

 

If you still not happy with interest rates come to BanKCoe  10% ; interest guaranteed on SGD....... principal ...... ahem 

 

        

 

If I put into SRS , earning pathetic INT as good as no INT, therefore reinvest to SSB with 1.9 to 2.1 %  . 

Almost the same as FD out in the open market. I dont really see the good point of it . 

 

A friend also shared about SRS  with me (also norm saving INT) . The only Good point was the tax relief (but only after you retired at 62) .  First 20K fee tax + subseq amount 50% tax fee .  But then Im thinking , which is better , have the money stuck in there with saving INT + tax relief later , or 

putting into FD now and earn higher INT. 

 

..... alamak I read as have simple wife 

haha nothing to use one . I simple man , have simple life .