facebookIs it worthwhile contributing to our kids' CPF accounts? - Seedly

Anonymous

08 Jun 2021

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Is it worthwhile contributing to our kids' CPF accounts?

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Discussion (3)

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Elijah Lee

14 Jun 2020

Senior Financial Services Manager at Phillip Securities (Jurong East)

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.

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. ​​​

I think there are many other ways to contribute to your child’s assets. If you are more risk-adverse...

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