I started serious Investing Journey in Jan 2000 to create wealth through long-term investing and short-term trading; but as from April 2013 my Journey in Investing has changed to create Retirement Income for Life till 85 years old in 2041 for two persons over market cycles of Bull and Bear.

Since 2017 after retiring from full-time job as employee; I am moving towards Investing Nirvana - Freehold Investment Income for Life investing strategy where 100% of investment income from portfolio investment is cashed out to support household expenses i.e. not a single cent of re-investing!

It is 57% (2017 to Aug 2022) to the Land of Investing Nirvana - Freehold Income for Life!

Click to email CW8888 or Email ID : jacobng1@gmail.com

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

Sunday, 19 March 2017

Give Your Child Fish Or Teach Your Child How To Fish

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. 

Each year; their allowance would be increased so that they would be managing slightly more money than the previous year as they grew older.

When they reached University level; Uncle8888 opened joint bank account with them and transferred one year worth of budgeted University fund to them and let them managed their own Uni fund. 

But; it was not totally hand off approach as Uncle8888 still tracked their withdrawal pattern closely and would query them for any unusual sign of expenses.

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