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How can i help grow my kid's saving ?

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Old 06-09-2019, 05:25 PM   #1
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How can i help grow my kid's saving ?

Hi all,

My boy is 6 this yr and has about 6k sitting in posb kids account. The money is from gifts, angbaos, coin deposits.

Eventually will pass to him when he can manage it himself. In the meantime, what are options to grow the amount + whatever accumulation in the coming years ?

Abit about myself if it helps, I'm a follower of global etf + local etf + bond component (treating my cpf as bond component).

[To add on, this amount is 'his money' so minimumly i hope to have capital guarantee. This money is not needed for his education as I have catered for it separately.]

Last edited by Thoreldan; 06-09-2019 at 05:38 PM..
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Old 06-09-2019, 05:53 PM   #2
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Top up his medisave acct. earns 5%.
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Old 06-09-2019, 05:55 PM   #3
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Yeah. Put in his CPF.
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Old 06-09-2019, 06:23 PM   #4
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get a savings plan

edit: ssb would be a better one
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Old 06-09-2019, 11:10 PM   #5
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I'm assuming a 10-15 year time frame in this case- I'll go all out into a equity etf or single blue Chip counter even though it's not.'guaranteed'
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Old 06-09-2019, 11:16 PM   #6
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Buying a whole life limited pay for 15 or 20 years, I bought the NTuC vivolife 50K sum assured 15 years limited pay for my kid..

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Old 07-09-2019, 07:01 AM   #7
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Buy bitcoin when it hits US $4000.
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Old 08-09-2019, 10:42 AM   #8
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Throw into his cpf special or medisave account. 4%
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Old 08-09-2019, 11:13 AM   #9
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Hi all,

My boy is 6 this yr and has about 6k sitting in posb kids account. The money is from gifts, angbaos, coin deposits.

Eventually will pass to him when he can manage it himself. In the meantime, what are options to grow the amount + whatever accumulation in the coming years ?

Abit about myself if it helps, I'm a follower of global etf + local etf + bond component (treating my cpf as bond component).

[To add on, this amount is 'his money' so minimumly i hope to have capital guarantee. This money is not needed for his education as I have catered for it separately.]
Since you like ETF so much,
throw it into ETF and return back to him after he comes out from NS.
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Old 08-09-2019, 12:55 PM   #10
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I'm also thinking of the same. I saw from Fundsupermart they have 0% sales charge for their RSP. So many funds to choose from, wonder which is good for the long term, ie 10-15 years.
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Old 09-09-2019, 10:16 AM   #11
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If you really must buy a unit trust instead of an ETF, then do it through Poems or DollarDex. Like FSMOne, they have 0% sales charge. However, FSMOne charges a platform fee, while the other 2 don't.
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Old 09-09-2019, 10:47 AM   #12
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Throw into his cpf special or medisave account. 4%
This idea got no benefit to the child till age 65. Still care about the child's welfare when child reaches that age

Worst is what will happen if giver unfortunately need the money due to unforeseen circumstances.
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Old 10-09-2019, 02:17 PM   #13
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Here's some ideas:
https://www.theastuteparent.com/2019...or-your-child/
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Old 10-09-2019, 10:57 PM   #14
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Throw into his cpf special or medisave account. 4%
This idea got no benefit to the child till age 65.
First of all, parents generally hope their children will live to age 65 and well beyond. Children with more financially secure elder years in their futures have that much more financial flexibility and freedom before their elder years. Second, it's highly likely more dollars will be available for withdrawal as early as age 55 with a Special Account top up, not only from age 65 onward. Third, MediSave dollars can be quite useful at any age. Fourth, CPF accounts are uniquely globally protected, and wealthy families in particular are quite happy to stuff dollars into CPF accounts, including for their children, for that reason alone.

Generally speaking I think parents can do a bit better overall with other investment vehicles for their children, but I don't think MediSave deposits (in particular) are the worst idea. Far from it, and there are much worse ideas mentioned in this thread.
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Old 11-09-2019, 08:59 AM   #15
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Medisave top-up to child's MA useful at any age
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