There was a piece of news that caught my eye this week. In the Monetary Authority of Singapore (MAS) semi-annual macro-economic review, it warned that Singapore faces a “slower long run growth path”. This is due to higher costs from rising global economic fragmentation, diversifying supply chains, and labour constraints. The news dawned upon me once again the importance of making adequate plans to secure our retirement nest egg. If you are looking to make your savings work harder, there are still ample opportunities to do so as interest rates remain high. For example, the cut-off yield for the recent 6-month T-bill auction has remained high at 3.74%. Based on our latest projections, the interest rate on the next Singapore Savings Bond is also expected to rise further. Some banks have even started raising the interest rates on fixed deposit accounts! If you are looking for opportunities to build your...
