As from April 2013 my Journey in Investing is to create Retirement Income for Life till 85 years old in 2041 for two persons over market cycles of Bull and Bear.

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Welcome to Ministry of Wealth!

This blog is authored by an old multi-bagger blue chips stock picker uncle from HDB heartland!

"The market is not your mother. It consists of tough men and women who look for ways to take money away from you instead of pouring milk into your mouth." - Dr. Alexander Elder

"For the things we have to learn before we can do them, we learn by doing them." - Aristotle

It is here where I share with you how I did it! FREE Education in stock market wisdom.

Think Investing as Tug of War - Read more? Click and scroll down

Important Notice and Attention: If you are looking for such ideas; here is the wrong blog to visit.

Value Investing
Dividend/Income Investing
Technical Analysis and Charting
Stock Tips

Friday, 3 July 2020

Funding Your Child’s University in the Future? (2) - Refresh

Read? Funding Your Child’s University in the Future? (2)

Read? Minimum Income or Enhanced Workfare Payout???

Read? Working Part Time During School Days???

After one full circle; Uncle8888 now back to working part-time as free lance low income worker like his teen age days. Walau!

BTW, Uncle8888 is still keeping his University of Singapore student pass! 

Don't ever blame others for your own failing!

The same life lesson from Mr Market!

Mr Market doesn't know you and don't care who you are!

You are on your own. Make or Break!

Plan C is to study part-time and get the necessary skills to get promoted and climb in corporate (be a shepherd).

Yes. Uncle8888 was on Plan C!

His father got NO money!

He also no money!

But; the day he started working ...

Got money. 

Got money and then could execute Plan C. 

Not directly from A Level to Degree on father's money; but through own money on longer path from A Level to Diploma and Degree!


  1. CW,

    I can feel the PRIDE in your words.

    That's the power of EARN MORE.


  2. Hi Uncle8888,

    You didn't make use of your CPF to fund own or children's Uni? Yeah, need to pay back with accrued interest, but still quite affordable. Teach the kids financial responsibility too, as they work & budget to clear off the loan back to your CPF, hoho.

    Overseas uni is another issue.

    My generation lucky. By the time in upper Pri, McDonald's was in S'pore. In those days, Macs liked to hire school kids, and of course kids loved it for the relatively clean & modern environment + the free burgers & fries!

    1. They took interest free tuition loans and paid up in lump sum upon graduation; and indirectly "sponsored" by Keppel Corp. LOL! Read? Just a few multi-baggers may be enough for your kid's university fund - Updated

    2. Same both my daughters took interest free loans. They agreed if they drop out they repay. They graduate Mr Market pays partially

    3. This comment has been removed by the author.

  3. Bro CW, initially I thought your kids are sponsored by Keppel Scholarships like Ivan Lim. Then I realised.
    My gal got into SMU B.Info System. Her school fees is 45-46KSGD, I was like "Wat". It is one of the most expensive (except for Med & Law). Just signed the interest free loan, and like you, I intend pay for them lump sum by the time she graduate. But for me very siong... I have 4 to pay...

    1. SMU and SUTD are more expensive than NUS and NTU.

    2. If our children graduate after we reach 55; there is no financial sense to use CPF fund for their university tuition fees.

    3. Uni is getting very expensive. My boy will graduate when I am near 60. :( But blessed to have a full scholarship. If he had got into medicine, then I will be "jiat luck". Even emptying CPF is not enough to pay for the full 5Y. But was mentally prepared to find ways to support him. Really stressed when he was called up interviews, keep doing the numbers and take panadol. LOL.

  4. Hi Uncle8888,

    I took interest-free tuition fee loan at that time too. For the not well-to-do family, can also apply for bursaries.

    Good to be Singaporeans.

    Of course nothing beats being smart enough to take up scholarship. My ASEAN scholar friend had it the best, from well-to-do family but no need to pay a cent.

  5. Hi uncle createwealth888, my girl will be in University after I turn 55, can you share your rationale why it is not advisable to use cpf to fund the education? Thank you regards Phyllis

    1. Tuition loan is interest-free if we pay up in lump sum upon graduation. After 55, we can withdraw this lump sum from CPF to pay if it is necessary.

    2. Sama sama if use CPF. As long you can meet BRS or FRS, you can tell CPF to waive repayment.

      Meeting BRS or FRS is also a condition if you want to withdraw lump sums from CPF.

      Although I personally don't think it's too healthy to waive off repayments from the child completely.

      It's OK to minimise or eliminate interests to the banks. But between child & parent, good to have some or all (+ interest) repayments by the child. ;)

      It's a lesson in economics & costs & trade-offs to the kid. It's where the phrase "no free lunch" comes in. Or in nicer terms, "shared responsibility", lol! :P

  6. CW, you are truly an inspiration. Sole bread winner and tapping on Mr Market to sponsor all three children thru Uni. and with a million $ in the OA, untouched at age 64! A rare breed.

    I am a little confused and bemused by the debate going on about the "earn more" vs "save more" camp. Why is there such a distinction? I thought they should go hand in hand in any wealth building plan.

    I also read with some "scratching of my head" the FIRE movemonent's mantra - Achieve FI and RE (retire early). I thought when one have achieved FI, this is the best time to accumulate your wealth or should I say accelerate your savings. For myself, my financial commitments started to taper off when I turned 55, after my two children graduated from Uni. At this time, my salary has also peaked. This resulted in a higher savings rate. I called this the golden period of savings -- where you litterally earn more and save more.

    So it is actually a waste to quit work when one has attained FI especially when they are still young. One should use this FI to bump up their savings by working to give themselves a comfortable buffer.


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