Quote:
Originally Posted by retirebatam
Nowadays, fix deposit interest rate is higher than cpf special account interest of 4% and in the near future it may rise further.
Now cash is really king, not only it is an liquid asset, it helps you to earn good interest too.. 
You may have heard before that if you place money in fix deposit to earn high interest and let it auto renew, the compounding effect is very great as it was known that compounding interest is the eighth wonder of the world.
Albert Einstein said that those who understand it, earn it and those who don't, will pay it.  |
Please understand that what goes up will come down...the interest rates will not be high forever...
When the recession comes in next year...the Fed will start to cut rates...so we may be back to square one...
Whoever is placing large amount of money in FD will not be rich...cash is king but what is the point that cash $100 can buy alot last year but not alot this year...will buy less next few years...
Best is to make money using money and ROI at least 10% and above...not the interest rate of 4.x%...