I’m amazed savings doesn’t increase much with age. Also, everyone under $100k/yr seems equally bad at saving.
“How much money do you have saved in your savings account?”
$349. With today saving rate, no reason to keep money there.
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Exactly right, there is no point in going savings with 0.25% interest rate (or max 1%). I do not have savings account.
It is either investment account or checking account.
Savings account actually hurts you. How many people have been burned by bank fees for accidentally having too much money in savings account but forgets to leave enough in checking to settle bills?
Close them all!! Savings accounts are EVIL!!
Only happen in USA. Singapore has auto-save account i.e. both a savings and checking… duh! After staying here for more than 10 years, I have to laugh at America… if it is not so big… and the technology sector… screwed long ago.
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Speaking of Singapore, looks like Brexit is for real now. London is going to the toilets. I bet SG will pick up a lot of business. Maybe time to load up some RE there?
Currently over supply of rentals because government is forced to curtail employment of foreigners and influx of foreigners because of the citizen revolt (through votes). Developers didn’t expect the shrinking of expatriates pool so is still building… Many Singaporeans have bought houses for renting to expatriates… So, rentals plunge by 20-30% over 4 years. However, house prices fall by only 5-10%.
Singapore is a multiracial and multicultural country with ethnic Chinese (74.1% of the resident population), indigenous Malays (13.4%), and ethnic Indians (9.2%) making up the majority of the population.
China Economy impact affected lot in Singapore on home prices
Similarly, oil correction affected lot of gulf countries including Dubai (so called west side - gulf singapore!)
https://www.ft.com/content/7847818a-8012-11e6-8e50-8ec15fb462f4
To me, entire world has issues except USA !
NO MORE RATE HIKE POSSIBLE HERE UNTIL WORLD ECONOMY RECOVERS !
The whole bond market is really bad and you can expect a lot more defaults. The authorities should step up to protect investors and Singapore’s reputation as a major financial center.
Three defaults in the past year and at least seven restructuring proposals have shaken Singapore’s reputation as an Asian finance hub, prompting the government to tighten oversight of private banks and aid businesses caught up in a global oil and shipping slump. The city is also reeling from a penny-stock crash, the worst quarter for home prices in seven years and the highest bad loans since 2009.