This blog is the continuation of an earlier blog:
Our parents and their CPF plans.
Thanks for your well structured reply! It answered most of my questions :)
The reason I am concerned is because my mum keeps cash in the house instead of making it work for her.. And often she gets “tempted” by agents/bankers who sell her savings plans (10 – 15years) with “guaranteed” returns!!!
I managed to stop 1 transaction last week during the free look period but she has another savings plan that is fully paid in the next month and will pay out every year for 10 years (I will just see it as damage is done)…
Hence I thought to further explore the use of her CPF account if she wants to earn more interest over the years.
She likes the feeling of 100% liquidity (which explains keeping of money at home) and she finds it a …