[gingerthreadfin]

Option 1 or 2 is a wiser parenting decision for the child:

1) Spend $1000-$2000 monthly on tuition/enrichment classes for child from primary sch to JC but no guarantee that child will excel in studies & get a high income job in future & retire early

2) Instead of using $1000-$2000 monthly on tuition/enrichment classes for the child, invest the $1000-$2000 monthly for 15 years until the child reach adulthood & give the cash/asset to the child so that the child is set for early retirement & need not be stuck in the rat race

[RyanJosie]

gingerthreadfin wrote:

Option 1 or 2 is a wiser parenting decision for the child:

1) Spend $1000-$2000 monthly on tuition/enrichment classes for child from primary sch to JC but no guarantee that child will excel in studies & get a high income job in future & retire early

2) Instead of using $1000-$2000 monthly on tuition/enrichment classes for the child, invest the $1000-$2000 monthly for 15 years until the child reach adulthood & give the cash/asset to the child so that the child is set for early retirement & need not be stuck in the rat race

How is $360,000 going to get a child out of rat race?

[gingerthreadfin]

RyanJosie wrote:

How is $360,000 going to get a child out of rat race?

Option 2 says "invest the money", this means that your capital of $360,000 from the monthly $2000 over 15 years will generate more income eg dividends or rental yield, and this investment could be given to your child at adulthood to help him/her get out of the rat race...

[sigeena]

2 points to comment

Are you preparing your child to be an independent young grown up or reliant on daddy mommy?

With this kind of budgeting you'll likely end up with max 1 child. Since the 2nd or the 3rd would become too "expensive".

[gingerthreadfin]

sigeena wrote:

2 points to comment

Are you preparing your child to be an independent young grown up or reliant on daddy mommy?

With this kind of budgeting you'll likely end up with max 1 child. Since the 2nd or the 3rd would become too "expensive".

I think that so long as the child can complete his/her tertiary education, does not matter even if his/her academic results is average. With the tertiary education certificate, he/she can be an independent adult earning his/her own bread & butter without asking for money from parents.

[Eighty7]

RyanJosie wrote:

How is $360,000 going to get a child out of rat race?

Not to forget the inflation rate. In the future 360k isn’t going to give a good hard push toward retirement .

If the kid doesn’t know the importance of saving etc , the 360 will be used up faster than you expected

[smallbrain]

The goal in life is to lead a meaningful life. This is human nature, unless your children are psychologically different. Even so, murderous psychopaths find meaning and happiness in sadistic acts. Money should not be the main goal. Crazy rich people are not happier than people who have sufficient money, generally speaking.

The end point is for your children to find their own purpose and meaning. This will lead to happiness or peace. If you think that earning lots of money and retiring early is a goal for your children, you are dooming them to unhappiness. They must find their own way in life. At the same time, to find meaning, one cannot just go "relax lah" or "don't worry lah". There should be some sense of seriousness, and joy in exploring life. Many young people these days, they are not exploring. Go shopping mall after school. Or spend all their free time, all of it, on playing computer games. Or doing whatever meaningless activities. I think sports is fine though.

[ventin]

Option 3: Spend the money on what the child likes.

[BrOwnTeddy]

gingerthreadfin wrote:

Option 1 or 2 is a wiser parenting decision for the child:

1) Spend $1000-$2000 monthly on tuition/enrichment classes for child from primary sch to JC but no guarantee that child will excel in studies & get a high income job in future & retire early

Studying for the sake of studying without proper application of knowledge into a specialist field is not going to get you anywhere at all. Thus the reason for relatively low productivity and 'no guarantees of a job'.

Quote:

2) Instead of using $1000-$2000 monthly on tuition/enrichment classes for the child, invest the $1000-$2000 monthly for 15 years until the child reach adulthood & give the cash/asset to the child so that the child is set for early retirement & need not be stuck in the rat race

Not too wise either since you failed to factor 15yr inflation rate into the equation.

So, either way, your child is f*cked.

[BrOwnTeddy]

smallbrain wrote:

The goal in life is to lead a meaningful life. This is human nature, unless your children are psychologically different. Even so, murderous psychopaths find meaning and happiness in sadistic acts. Money should not be the main goal. Crazy rich people are not happier than people who have sufficient money, generally speaking.

The end point is for your children to find their own purpose and meaning. This will lead to happiness or peace. If you think that earning lots of money and retiring early is a goal for your children, you are dooming them to unhappiness. They must find their own way in life. At the same time, to find meaning, one cannot just go "relax lah" or "don't worry lah". There should be some sense of seriousness, and joy in exploring life. Many young people these days, they are not exploring. Go shopping mall after school. Or spend all their free time, all of it, on playing computer games. Or doing whatever meaningless activities. I think sports is fine though.

Would be much faster if he whores out his kid at 18yrs old.

18 to 55yrs old = 37yrs or 444 months of working life as a prostitute (lets not judge professions here first. The morals of being a prostitute can be decided later).

Lets say on the average, his kid serves 4 customers a day.
Each customer, say, is charged $200.
That's $800 a day.

Let's take out costs and inflation from the equation first.

So that's an estimated $16,000 per month (let's say its just strict 20 working days a month, cos even the butt needs rest.).

That's $7,104,000 if his kid can sustain 444mths of being a prostitute for 20 working days every month.

TS, point here is, don't calculate life for your kids in dollars and cents and career expectancy of high income, because no one can earn more than a hardworking prostitute (other than a politician, but these fly guys are not in the regular realm of everyday folks, so we will dismiss them).

Now, assuming if you DO NOT have kids at all (because you would not even start a thread asking this if you have kids), sit down and think again.