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Anonymous

09 Mar 2020

SeedlyAMA

How do you convince your siblings to get a grip on their finances and start saving up for the future?

I'm aged 25 now, my brother and sister is 22 and 21 respectively, both spending alot of normal days.

AMA SG Young Investment

Discussion (5)

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I think the best way is lead by example. At their age, its kind of difficult to start thinking about future. I would suggest you to start doing for yourself and influence them along the way, don't try to rush and do it slowly for them to accept your advise.

Rais M

09 Mar 2020

Accountant at SME

What I did with my siblings was a little extreme. First, I explain to them nicely on the need to manage their finance and also how savings and investment can help. Next, I literally make them set up a savings plan and the POSB Invest Saver account right in front of me.

You can say I force them to do so. I admit I kinda force them to because if I do not do it, they will just leave it hanging and not take any actions.

Tell them if they want to rely on their cpf for retirement, they would have to work and wait for a g...

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