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CPF Ready Get Set Grow

The CPF board has launch a new game. I have tried the game and as it is fun and educational. Thus, I will like to share with all of you. You can download this educational game from the app store.

The Ready Get Set Grow game has 4 levels. For each level that you play, watch out for tips and education on growing your retirement savings.

For example, when I played level 1, the slogan says “Get ready to build a foundation for the future”.

I like the phrase “Grow with the power of compound interest!”

The game is simple, you control the character and jump to collect gold coins, hearts or gold bars.

Singapore Savings Bond versus Savings Account versus Fixed Deposits

The latest Singapore Savings Bond (“SBSep17“) is offering 2.12% effective interest rate over a ten years period. Many people have been lamenting about the low interest rates and I also think the Singapore Savings Bond interest rate is not attractive. I decided to do some research by comparing it with similar low risk products out such as a popular high yield Savings account and Fixed Deposit account. I am excluding REITs and Stocks in the comparison as the intention is to park the money somewhere as a form of war chest or savings.

I picked CIMB StarSaver Account, CIMB 12 month fixed deposit and MayBank 12 month fixed deposit. (more…)

May 2017 Singapore Savings Bonds is 2.32%

If you have followed my blog post on Singapore Savings Bonds, you will know that I have bought Singapore Savings Bonds in October 2015 where the effective interest rate is 2.63%. Time flies and I have received my third payout in the month of April 2017.

The effective interest rate for May 2017 (GX17050F) Singapore Savings Bonds is 2.32%. Seems there is slight recovery in interest rates. Although the interest rate is not attractive, the money can serve as a contingency fund. My ideal contingency fund is around six times your current salary. In case we get retrenched, the period of 6 months is sufficient for us to find a new job. (more…)

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