I am wrapping up the year with a summary of December 2019 transactions. This month, I made a fixed deposit with CIMB Bank. My son is going for a school trip next year and thus, I am setting aside some money to fund for his travel expenses. As mentioned, the maturity period is just right at 6 months.

Besides the fixed deposit placement, I also continue to purchase this month’s issue of Singapore Saving Bonds (GX20010T). The purpose is to set aside some money for emergency use such as job retrenchment etc.

If you didn’t know, I also contribute to my Supplementary Retirement Scheme (SRS). As I can only withdraw the money from SRS after the age of 62, the money accumulated in SRS can be used to fund my retirement at the later stage of my life. On top of saving for retirement, I get to enjoy tax