Personal Finance
Give Your Child Fish Or Teach Your Child How To Fish
By Create Wealth Through Long-Term Investing and Short-Term Trading  •  March 19, 2017
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......
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By Create Wealth Through Long-Term Investing and Short-Term Trading
I am 62 yrs old uncle living in HDB heartland who has achieved financial independence @ 56 and finally retired @ 60 from full-time job as employee on 1 Oct 2016. Single household income since 1995 with three children. Eldest son and daughter are now working and youngest son still in his 3nd year Uni in SUTD. I have been doing long-term investing and short-term trading in Singapore stock market only since Jan 2000 so I am that Panda or Koala in the investment world; but I am still surviving well in the wild. I am now executing my Three Taps solution model to maintain sustainable retirement income for life till 2038. Cheers!
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One response to “Give Your Child Fish Or Teach Your Child How To Fish”

  1. Fred says:

    Hi

    Teaching your child how to fish is great. Would be greater if it is a lifelong journey by even living it as an example to your children.

    The big distraction is the influence from their friends, schoolmates and others. Heard someone mentioned about a teenager asking his father to bring him to USA for his next school holiday?

    For me, I would not hesitate to tell my children off about such gratifications.

    Fred

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