I was considering, for example, SSB investment in blocks of $500 or putting it in a high interest rate account..
Personally I would not be comfortable to invest it in high risk products as it is technically a gift to them and I wouldn’t want to lose any of it :p
Thoughts?
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Not a parent but my parents put these monies for me in a bank.
SSB seems like a good option, money is guaranteed and always wise to grow your money. Especially with the increasing exposure of personal finance lately.
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Andy Sim
25 Feb 2020
HR Professional at a Financial Institution
Not a parent but yes I'm planning to invest it for their future so that have a headstart in life.
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My parents used to keep in in posb savings account which only gives 0.05% interest :(
for me, i would put it in a high savings account or invest in etfs.