Family

You can consider to have some side income, such as giving tuition, or working at a part time job (I did both). That would help tide your expenses. And kudos to you for your allocation and savings man, that is amazing. I think you are doing alright for now in your investments, and even if you re-allocate the $30K, I would think you would have to go into riskier options which would not be suitable for you at this moment. The amount you invest should be something that you can afford to lose.

Hi Kelly, Although I have no kids, but looking at my friends who are already parents, I see some of them already imparting financial management as young as 4, any earlier than that, you will probably want to focus on cause and effect type of teaching. Once they come into contact with pocket money, it's always good to teach them that money is finite and that spending it now means they'll have to earn (or wait for you to give) more before they can spend again, then teach them how to set aside a small amount for delayed gratification. When they have a firm grip, then venture into teaching them how to earn their keep. For example, they could do some small tasks in order to earn a little extra pocket money. That will teach them that money is not easy to earn. Then teach them the effect of saving all the extra pocket money instead of spending it. I think what's important is to impress upon them that it's not how much they earn (or in their case, how much pocket money is given), but how much they can keep.

Hi, Her current policy does seem a little insufficient as you'd want at least 5 years of expenses as liquidity normally, but DM type 2 rules out a lot of possibilities unfortunately. Consider the plans that Hariz mentioned, and also look at this concept called self-insurance where by you set aside a sum of money periodically to prepare for any unexpected expense, and especially to prepare for when the AIG plan expires. A normal whole life plan or term plan will likely have exclusions, and the premiums will be very high, so I highly doubt it makes financial sense. There is still 13 years before her AIG plan expires, so there is still time to build this liquidity buffer for self insurance. That is why insurance is so important. There's just no asset class that can conjure up $100K from thin air when the unexpected strikes. Regarding your replies on other posts, here's my thoughts: GE ISP Private plan + full rider - Definitely keep this GE PA Plan- SA: 100k - Can keep. It only covers accidents, so please be aware of this AIG PA Plan- SA: 200k - Can keep. It only covers accidents, so please be aware of this AIG hosp cash plan: $400/day - Can keep AIG CI plan (as above) - Keep AIA investment profile (using CPF) - This doesn't cover CI, but hopefully the investment grows faster than CPF interest rates. All the best!

Hey! good that you want to start early. also want to share with you that as investor, we dont 'play' stock. we invest in stock. investing is a serious topic where we put our hardearn money into. is not play play... if we treat it play play.... our money also gone.. haha... i start investing when i was 19, just want to share with you my experience. For a start, just start small. Just use 10% of your investible money to invest. Be it $100, $1,000. Now, I’m not suggesting that just by investing $100, this can turn into million dollars. Please don’t get me wrong. This starting capital probably will not generate much wealth for you. However, this is extremely important! This amount of money can help you to build investing confidence and conviction. And over time, you will able to put in more money to invest and eventually achieve your financial target. many people said "i will invest later when i have more or enough money" ....now, the truth is, we can never enough of getting money... there is always more to get... if you dont start at $100, i doubt that you will start when you have $1000 or $10,000, because investment is not about how much you have now. is about what you going to do with the money you have now. is about the mindset. so for your next step, i would suggest you get educated in proper investing, be it learn from books, video or seminar... just get educated. :)

Hi pop, You'll want to cap it at J for travelling with young children, as I answered in a previous post, they may be too young to remember what happened. And the difference in J and F redemptions can be substantial. Plus, probably easier to find 4 saver J than 4 saver F, considering the size of the cabin. Just don't redeem for economy no matter what you do. No real mile earning tips here other than to maximize your spend, so that you can redeem more flights :)

Simply yes. You don't owe them everything but you should be keeping aside 5% aside of your income for them in case something really bad happens to them. They are your responsibility as much as you were their responsibility when you were young. Speak to them about saving at least 20% of whatever they earn for themselves, but you need to make that small sacrifice of 5% for them as well. Put it into an annuity that will start paying when they turn 65.

If travelling budget airline, one of the few key things to note is luggage, as well as kids' meals. While adults can afford to tolerate hunger, kids' welfare cannot be compromised. To this end, airplane's food are often overpriced. Therefore, make plans for it. As for luggage, buy extra weight limit whenever possible in case of purchases or if we require to bring more items overseas. Hand carry is often one of the most important things to pack when travelling with kids. Bring sufficient clothing, milk powder (you can usually ask for hot water on flight), and their favourite toy. All these help to ensure a smooth flight on board. Here is everything about me and what I do best.

Top ups to CPF SA are not allowed to be withdrawn. They are channeled to CPF Life for the purpose to provide you a lifetime income in old age. Thus, you can't use it like a "bank account". Also you can't just VC SA only. It's either VC MA or VC to three accounts. Instead, you can consider using OA for the education scheme or purchase a similar guaranteed product that can give you close to 4% returns 18-20 years.

For this strategy, you would be investing into different asset class. Small amount is not so ideal because it will not have much impact on your portfolio. I personally think a 30k is a good start.

Your question was not very clear anon, what would you like to speak to them about?