Any recommendation for where to park $5-6k (other than low yield savings/FD) for kids' college education in 7 years' time?
I have an education endowment plan and I have this additional $5-6k from the kids' ang pow money. I don't want to leave it in low yield savings / FD. Any suggestions? Thanks!
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Cryotosensei
09 May 2020
Blogger at diaperfinancingfund.blogspot.com
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Some insurers will have products which will range between 3-5 years to maturity. You can consider them as well.
If you need liquidity, short term bond funds will work.
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I am assuming you also do not want to look at those which need to fulfil multiple criteria.
here ar...
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Hi! Why not just pump this money into your children's CDA account? When they turn 13, the money in this CDA account will be transferred to a Post-Secondary Education Account (PSEA) account - which can be used to pay for college fees. THe CDA account's interest rate is 2.5% per annum - as good as SingLife's
Admittedly, I think this route requires the child to study university in Singapore.