A Chasing Sunsets Fund – A Better Way to Plan Nice-to-Haves in Financial
Independence.
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One of the spending needs that many of you would consider as part of the
income needs for your financial independence (FI) or FIRE, is to have
enough mon...
5 weeks ago
The idea is to keep the money for their children in safe place and prevent them from touching the money till they are old and wiser at 55 to manage this large sum of compounded money.
ReplyDeleteThis might cause the death of the child. The spouse/children/beneficials of the child might kill in the circumstances of urgent need of cash.
ReplyDeleteNot that serious. Those cash top up are really surplus cash
DeleteHi Uncle CW,
ReplyDeleteThe parents like me need to plan for own retirement, emergency funds, household expenses then still got money to top up the children's CPF? I think parents would rather top up their own CPF, earlier to get to 55 years old than top up the child's CPF.
They already top up their own CPF accounts to max but still got spare money. Definitely it is good money issue to crack their head. I wait for toto jacktop then i will have this money issue. 😀
ReplyDelete