You’ll never be able to outrun money: Why chasing a salary alone won’t get you rich or wealthy
Invest but keep enough liquidity to help you sleep at night.
In the latest episode of a podcast series on financial literacy, hosts Kai Wen and Sue-Ann Tan delve into the concept of liquidity. They clarify that while everyone is encouraged to invest, it's crucial to determine how much is sufficient and what percentage should be reserved for unexpected emergencies. They also discuss savings for important commitments like housing, such as BTO applications.
The hosts explore various types of investments and their liquidity levels, questioning whether one should keep all their funds in savings accounts to prepare for unforeseen circumstances.
Liquidity, according to the hosts, refers to how easily assets can be converted into cash without significant loss in value. They debunk the notion of keeping all money in savings accounts as a safety measure, arguing that it may not be the most effective way to manage finances. Instead, they suggest a balanced approach to investment and savings that aligns with individual financial goals and circumstances.
The podcast also serves as a reminder that while financial advice is valuable, it should be used as a general guideline rather than a definitive plan. As always, the listeners are urged to consult a qualified financial advisor for personalized advice.
Written by urgent.news from Straits Times Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
