SRS Portfolio - 6 April 2024
Since my last update, the SRS portfolio has received a pathetic cash interest of $6.46 for the month of March and a distribution of $1,275 from Frasers Centrepoint Trust. Which is the main reason why I moved $50,000 cash from SRS to Endowus to put it into two money market funds, which funnily enough gave me a better interest for April as there was a cash gift of $50. 😆 I have shared with you earlier how I max out my idle cash , and probably UOB read it as well and decided to cut its interest rate . With effect from May 1, the interest rate will be reduced from 5% to 4% but the silver lining is that they increase the cash that can earn the 4% from $100,000 to $150,000. To be fair, it is still a good deal as fixed deposits earn you at best 3.35% and you are locked up for the period, while UOB One Account allows me to withdraw the cash at any time and still earn miles on the spent on credit card. Effectively, what that means is as follows: First $150,000 set aside in UOB One Account to
