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Build Passive Income with Fixed Deposits
By My Sweet Retirement  •  March 17, 2024
In my previous post, I shared on how to build passive income with fixed deposits as one of the methods to help with retiring early in Singapore. Building passive income is important if you want to retire early as it helps to mitigate against longevity and inflation. Fixed deposit is a type of bank account where you deposit a lump sum of money for a predetermined duration. In return, the bank pays you a fixed rate of interest on that amount. Fixed deposits are low-risk investments because they are practically risk-free. In Singapore, your deposits are also insured by the Singapore Deposit Insurance Corporation (SDIC) for up to S$75,000. I have one fixed deposit placement with CIMB Bank which is maturing in April 2024. As usual, I will use the principal amount with the collected interests and continue to do another fixed deposit placement. I am actually executing fixed...
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By My Sweet Retirement
I am a working salaried professional in my mid 30s. Just like most Singaporeans, I worked long office working hours, often trying very hard to find some work life balance. The Sweet Retirement Blog was created to share my journey towards achieving a comfortable retirement life. I believe we cannot simply rely solely on our Central Provident Fund savings when reaching old age. Neither can we rely solely on our bank savings as we all know the interest rates cannot beat inflation.
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