I started serious Investing Journey in Jan 2000 to create wealth through long-term investing and short-term trading; but as from April 2013 my Journey in Investing has changed to create Retirement Income for Life till 85 years old in 2041 for two persons over market cycles of Bull and Bear.

Since 2017 after retiring from full-time job as employee; I am moving towards Investing Nirvana - Freehold Investment Income for Life investing strategy where 100% of investment income from portfolio investment is cashed out to support household expenses i.e. not a single cent of re-investing!

It is 57% (2017 to Aug 2022) to the Land of Investing Nirvana - Freehold Income for Life!


Click to email CW8888 or Email ID : jacobng1@gmail.com



Welcome to Ministry of Wealth!

This blog is authored by an old multi-bagger blue chips stock picker uncle from HDB heartland!

"The market is not your mother. It consists of tough men and women who look for ways to take money away from you instead of pouring milk into your mouth." - Dr. Alexander Elder

"For the things we have to learn before we can do them, we learn by doing them." - Aristotle

It is here where I share with you how I did it! FREE Education in stock market wisdom.

Think Investing as Tug of War - Read more? Click and scroll down



Important Notice and Attention: If you are looking for such ideas; here is the wrong blog to visit.

Value Investing
Dividend/Income Investing
Technical Analysis and Charting
Stock Tips

Sunday 2 October 2011

The best interest rate in Singapore for senior citizens!

Read? The best Bond fund in Singapore for senior citizens!

Reaching 55. Congratulations! You are now senior citizen in Singapore.

You have special privilege. The National Bank of Singapore upon you reaching 55 will automatically setup a special saving account for you and let you enjoy the best interest rate at 2.5% in Singapore. You are entitled to one withdrawal per year for any amount at any time between your two birthday. I am pretty sure that your younger colleagues, friends and relative will be jealous of your super interest rate in the current market condition.


CPF Investment Account

Do you have some long-term stocks in your CPF investment account receiving good dividends?

If yes, don't close your CPF investment account to transfer them to CDP as cash stocks.

You can do something wonderful with those stocks in your CPF investment account.





Emergency Fund

Do you maintain several bank Fixed Deposits at low interest rate of 1.X% as Emergency fund?

If yes, now you have special privilege to transfer your fixed deposits from your banks to the National Bank of Singapore to earn much higher interest rate at 2.5% for senior citizens.

This is how you do it?

Keep most of your Emergency fund at the National Bank of Singapore to earn higher interest rate at 2.5%; but do maintain some spare money at low interest rate as liquidity fund at any bank in Singapore for immediate cash withdrawal. This is a small price to pay for liquidity and worth it.

 

I am senior citizen and
 a privilege banking customer of
National Bank of Singapore.


2 comments:

  1. Great place for cash fund.
    Thanks for the excellent idea.

    ReplyDelete

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