Mujimoro

26 Feb 2020

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To fellow parents: what do you do with cash gifts (red packets, etc) for your children? Do you invest it for their future?

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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MT2020

26 Feb 2020

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.

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Geraldo L.

26 Feb 2020

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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