As parents we set real life examples for our children to learn from us and hopefully they will follow the right thing from us.
Does it make sense to use CPF to be a long term endowment for your kids?
One participant asked 2 questions a long the lines of:
could we contribute more to our CPF SA, above the minimum sum limit and take advantage of the 4% interest
is it a good idea to contribute to your child’s CPF early and treat it as a savings endowment?
Uncle8888 belongs to old school of thought.
Give Your Child Fish Or Teach Your Child How To Fish?
For his three children; when they reached Sec 1 level; he gave them weekly school pocket money allowance for them to manage their money on their own. Whatever leftover were for them to keep.
There was never an incident of them asking for more weekly allowance…