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Is having a child an expense or investment?

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Home Loan

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My parents are retiring and I want to help pay off the remainder of their HDB mortgage. What is the best way to do that?
Tay WenHao
Tay WenHao
Level 6. Master
Answered 14h ago
By official means, no. However, if you go 1 big round, maybe. Check this out for yourself. Amex True Cashback 1.5% > Top up grabpay wallet Apply for Grabpay Mastercard (GPMC) Use GPMC > Topup NETS Flashpay Card @ GTM Use NETS Flashpay to pay via AXS machine
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Personal Finance 101

Parenting

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Robo-Advisors

Family

Hello parents! Out of curiosity, what would you do with your kid's (few months old) money, such as money from their baby showers and angbaos?
Heng Kai Le
Heng Kai Le, Mondomover at School Of Life
Level 6. Master
Answered 20h ago
Top up his Child Development Account, for if I top up $3k, I get dollar-for-dollar matching contribution (another $3k) from the government
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Parenting

Savings

Hello, any financial tips for parents of a young child (3yo) and another one on the way this year end? What would be your prorities, and how much do you set aside for your child's future? ?
Penny Chong
Penny Chong
Level 5. Genius
Answered 3w ago
This is my personal strategy that I learned from a mentor: I would recommend investing 50% in a market portfolio like S&P500 ETF as it historically yields 10% return and has a general upward trend. Another 50% can be other individual stocks that you like and see a potential of 10% return. Diversification is always important. There is no reward for bearing unnecessary risks.
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MileLion

SG Budget Babe

Family

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Miles

Credit Cards

Credit card miles for Pregnancy costs?
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Brian Y
Level 4. Prodigy
Answered on 29 Mar 2020
Hospital bills are generally excluded from spending - except for AMEX KF cards IIRC. However for now I still use Grabpay Mastercard (topped up using DBS Altitude) for any hospital bills, despite its more mediorcre earn rate now...something is better than nothing I guess? Hope it helps
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Investments

Family

Parenting

SG Budget Babe

We're 48 with no kids until now - we're adopting late sister's two-year-old. Never invested before because of personal reasons. Any advice on how we could invest now?
Before your start investing, it will always be helpful to go back to the basics - understand your cashflow. Here is some basic information: https://www.blog.pzl.sg/understanding-your-personal-cash-flow/ Next, ensure that you are properly insured especially in terms of healthcare insurance. While we chase after our financial goals, do not forget the engine of this race - which is you! Thereupon, ensure that you are adequately covered in case of any health changes. Everyone wants to be healthy, but life is unpredictable. Thereafter, keep what you need in the bank, which is usually about 3 to 6 months your monthly expenses (as explained in the link above on understanding your cash flow). For the money that you can 'afford to lose', this money can be invested. This is simply because investment returns are non-guaranteed. Now, it depends on your investment objective and how long you intend to stay invested. For instance, one of the objective could be for the kid's education. As a result, you may wish to consider an endowment policy or to invest through an insurance company. This is because in the event that either or both of you passed on, what will happen to your invested money? Through an insurance company, it helps to protect the welfare of the child in a simplified manner. Of course, if you choose to do DIY investing, ensure that you set up a Trust and/or draft up a Will. Here is some information on the latter: https://www.blog.pzl.sg/what-is-a-will-singapore/ For both of you, the goal may be to create a stable stream of passive income for retirement in 10 years' time. To do this, we will split your money into various instruments, e.g. bonds, annuity, ETFs, blue chips, as well as unit trust. All things considered, the objective may be to build a well-diversified financial portfolio that covers all the financial gaps as well as the money that you all need for the rest of your life. One example could be to build a step-up annuity - where the guaranteed payout increases over time. Not only does this hedge against inflation, it also helps to cover fixed expenses over time. In another portfolio, it could be to adopt the concept of dollar cost averaging and invest in certain ETFs or unit trust. All in all, all these help you to build a well-diversified portfolio on an aggregate level for various purposes. Feel free to drop me a coffee invite if you need more details or for a comprehensive financial portfolio planning: https://www.work.pzl.sg/#coffee Here is everything about me and what I do best.
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Stocks Discussion

Family

Investments

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SG Budget Babe

What is the best options to help my child to invest when he is young, say 8 -10 years old?
You need to know your investment objective and the capital that is available. In case you are wondering, here is a comparison between a lump sum investment vs via dollar cost averaging: https://www.blog.pzl.sg/dollar-cost-averaging-singapore-does-it-really-work/ Through comprehensive financial planning, we are able to set a goal based on the budget that you have, alongside with your risk appetite. Thereafter, we will discuss on the best way to grow your money for your child by taking calculated risk. With so many instruments available in the market, the key will be to find out the right instrument that fits your investment objective. Besides, as we focus on growing your money for your child, don't forget to protect your wealth. For instance, what happens to the investment when you are no longer around? Does it make sense to expect the investment to grow as before? Consequently, I will always advise my clients to set up a Trust or to draft a Will to eliminate some of these problems. Here is what a Will is: https://www.blog.pzl.sg/what-is-a-will-singapore/ Furthermore, a lot of my clients prefer to save or invest through an insurance company so as to eliminate these unnecessary complications. Therefore, do consider these instruments as part of your overall portfolio planning. Here is everything about me and what I do best.
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Family

Loans

Savings

Education

Parenting

SG Budget Babe

Payments

What are the best financing options to pay for children's education in SG and abroad, including Junior College, private tuition and university?
Wilson Nid A Break
Wilson Nid A Break
Level 8. Wizard
Answered on 23 Jan 2020
Top-up your children CDA, government match dollar-for-dollar. Instead of thinking to help your children save for their education needs, might as well think on how to help them to start investing asap. When they reached adulthood & had a sizeable investment portfolio under their name, a uni degree become an option, not an necessity
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Insurance

Family

SG Budget Babe

Hospitalisation Insurance (H&S)

Parenting

Personal Accident Insurance

Hospitalisation insurance and personal accident plan for baby?
Javis Ye
Javis Ye
Level 4. Prodigy
Answered on 27 Dec 2019
Hi Heng, you should definitely get an insurance plan for your baby while they are still healthy. The mistake that many make is that they wait for something to happen before acting on it. It is going to be too late by that time as there may be exclusions or the worst case total rejection of the proposal. Its always wise to insure and protect your family member first before a crisis hits. =)
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Insurance

Family

Parenting

SG Budget Babe

How do insurance policies that are bought for you work?
Hi Vivian, If you are the life insured , the named event must occur on you before any payout can be made. Once the event occurs, you will get the sum assured, plus bonuses if any, less any amounts owing to the insurer. Your mom would be the assured , or the person who proposed to enter a contract of insurance with the insurer. Thus, she is the person who owns the policy (and is paying, unless asks you to take over). If anything happens to her, the policy must still continue to be paid, and there will be no payout. However, if there is a waiver of premium rider for the payor upon death , then if she dies, the policy no longer requires to be paid, and will remain in force, until the named event happens to you. The named event can be anything from death to TPD to CI. The benefits are only payable to the person whose life is covered, i.e. you.
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Parenting

Lifestyle

Investments

SG Budget Babe

How would you start an investment portfolio for 2 kids if monthly budget is about $200 per child? Thanks!
Hi, Before starting an investment portfolio for them, it would be better for you to craft out the desire long term goal that you want for your family. Is the money going to be used for University? What is it going to be used for? With that in mind, you can reverse engineer the required rate of return that you need. I would suggest you read up some financial education/investment books: Rich Dad Poor Dad, One Up Wall Street and 5 Rules of Successful Stocks Investing.
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