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Best Fixed Deposits in June 2024
By My Sweet Retirement  •  June 9, 2024
One of my fixed deposit tranches is maturing and thus I am looking for the best fixed deposits available in June 2024. Investing in fixed deposits is one of the methods that I use to help me work towards retiring early in Singapore. The interests collected at the maturity of the fixed deposit acts as a form of passive income. Passive income is important if you want to retire early as it helps to mitigate against longevity and inflation. What is a fixed deposit? 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 adopt a...
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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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