Recently I discovered a toy store “The Better Toy Store” at #03-07/08 The Centrepoint. It offers award winning toys that are safe for young children and environmentally friendly.
You can take your children there to check out the various samples before you buy. It will be fun for the entire family. The toys aim to help children to be creative and allow their imagination to run and play freely.
So if you’re looking for a gift for a child in your life, consider exploring this toy store.
Most importantly, I know you want the best for your children and will like to give them the best that life can offer. Be it toys, holidays or the piano lessons or create opportunities for your child. This means you need money.
To help you achieve this goal, let me illustrate.
By saving S$250/mth cash (about $8.22/day) for your child for his or her future and investing this money for at least 15 years using a diversified portfolio, you could accumulate $69,828 at a potential 6% p.a. return which may be just enough for NUS tuition fee in 15 years time.
Note: This is assuming you’re paying your mortgage with your CPFOA money.
i.e. you may deplete your CFPOA fund for your own retirement and may not be able to have excess CPFOA funds to help your child pay for his uni fee.
Consider a disciplined approach to help you prioritize your cash savings and help protect your child’s future to give them a head-start with this pot of money.
If they qualify for scholarships, you can keep this money for yourself instead. 😉
And we know it will be more competitive in future. Robots and automation will be taking over some jobs. It’s already happening as we speak. So I imagine you as a parent will be keen to let your child experience and learn new skills to adjust to the new environment and industries. Having money helps you help your child prepare for his or her future.
Please call me at 8168 7459 to brainstorm on starting a savings plan for your child today.