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Elijah Lee
14 Jun 2020
Senior Financial Services Manager at Phillip Securities (Jurong East)
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Loo Cheng Chuan
13 Jun 2020
Founder at 1M65 Movement
Absolutely, especially to the SA account. if you were to put about 80K into a infant's SA account, it will balloon to S$1M by 65 years old. βββ
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Guo Wei
11 Jun 2020
Me at Home
I think there are many other ways to contribute to your childβs assets. If you are more risk-adverse...
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Hi anon,
I should think so, and I'd contribute it to the SA account. The compound effect of 4% over 65 will multiply the capital 12 fold.
Even leaving $10K in the account will cause it to swell to $120K by the time your kid is 65. You can consider that as a gift to them, but please don't jeopardize your own finance in doing so.