Ang Pow Issues...

[skunk]

Funz:

Yah. These people are celebrating for the wrong reasons. Ang Bao was never about money. The original custom actually has things like beans and guazi signifying certain things for the receiver. I remember receiving some such ang baos from the elderly and we cousins will gather to try and figure out what each item signify.

interesting....I never knew that!

[MMM]

KSP:

MMM:

Hubby was asking the kids if he could \"invest\" their savings for them by buying shares. My dd1 was like.... I rather earn interest from the bank.

This is a good idea but make sure don't get burnt. Buy blue chip should be ok. Like banks or GLC even better.

Actually, if you choose those solid blue chips and hold long term since they are still young and there are opportunities out there given the current situation, I believe they should make make in 17 yrs time :lol:

[2ppaamm]

I still believe in cold hard cash. Keep in a savings account and they get to withdraw at 18… For studies or anything appropriate.

[raynreg]

Agree with 2ppaamm. Nothing beats cash. For stocks, market dictates the value of your investments. In urgent needs, are we prepared to liquidate these stocks regardless of your initial cost of investment.

[2ppaamm]

Not that long … My son is already 16 this year time really flies when you watch the kids grow up.

[MMM]

2ppaamm:

Not that long ... My son is already 16 this year time really flies when you watch the kids grow up.

But for a 7 yr old, they probably still have a long time :lol: Anyway, they still don't have enough $ to buy even 500 shares of citibank :lol:

[raynreg]

17 years is a long shot…you nvr know what’s next and that’s exactly why cash is still king although inflation does make our dollar smaller…

[Funz]

I remember when we turned 18yrs old, our dad handed us our bank books. And in it, there was savings in excess of 10K. All from Ang Baos, rewards and savings from our mthly allowances that we did not spend as well as dad’s monthly contribution into each of our accounts.


For my kids now, DH and I will deposit a sum of money monthly, when their total savings hit a certain amount, I will buy endowments or put some of their savings into term deposit to earn better interests. If all goes well, with the maturity of the endowments, etc, there should be enough to cover their tertiary education or if not enough at least 80-90% covered.

[skunk]

Funz:

I remember when we turned 18yrs old, our dad handed us our bank books. And in it, there was savings in excess of 10K. All from Ang Baos, rewards and savings from our mthly allowances that we did not spend as well as dad's monthly contribution into each of our accounts.

wah so generous ah lol

Me and my 3 brothers, we got nothing at 18/21 yrs old. Everything we wanted to have, we have to fight for it.

[radiantmum]

Funz:

I remember when we turned 18yrs old, our dad handed us our bank books. And in it, there was savings in excess of 10K. All from Ang Baos, rewards and savings from our mthly allowances that we did not spend as well as dad's monthly contribution into each of our accounts.


For my kids now, DH and I will deposit a sum of money monthly, when their total savings hit a certain amount, I will buy endowments or put some of their savings into term deposit to earn better interests. If all goes well, with the maturity of the endowments, etc, there should be enough to cover their tertiary education or if not enough at least 80-90% covered.

Thanks for sharing, I like the idea !