SINGAPORE: A 23-year-old Singaporean student recently found himself inheriting a substantial sum of S$400,000 from his grandparents. HIn his post, he outlined his initial plans and asked the Redditors about their thoughts:Some of my own thoughts: Factoring inflation for a housing loan in future, should I put $200K in SSB instead of just $100K? Is lump-sum into just SPYL ETF a risky move?”
However, if he’s set on having insurance, they advised him to opt for a policy that covers unforeseen expenses like accidents, hospitalization, and “Death, Critical Illness & TPD Insurance .”To protect his funds, a few Redditors mentioned that he should be highly cautious about whom he reveals his inheritance.
Then other relatives say they will help me invest. Till I found out that they put it all in their name. None ever paid me back. Now I tell no one.” This way, he can ensure financial stability and support himself in case of unexpected job loss without touching his savings or liquidating his investments.