Friday, September 03, 2010

Advice to a college bound son

Read this letter from a parent, who is a financial planner.

My view
I hope that many young people will read this letter and follow the good tips.
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3 comments:

Spur said...

In US, independence day is when you turn 17 or 18 and drive away in your own car to college, or get a fulltime job and rent an apartment.

In Singapore, many 30 yrs old still stuck in parents' flat. Every month checking CPF account and bank account to see whether got 20% downpayment to book that $450K flat in punggol or that $600K resale flat near your parents. :-)

September 03, 2010 12:08 PM
yujuan said...

The economic and cultural environment are different between the East and West.
As long as our offspring is unmarried, culturally they tend to stay with their parents.
Here in Singapore, as with many Asian countries, where accomodation is so expensive in the city, it is alright to check their CPF statements for the time to make the bold decision to buy a place, otherwise our kids would have insufficient savings for the down payment if they spend their savings on rent outside their parents' home.
Besides our children are expected to maintain their parents in some form, no matter how small the amount to instil filial piety, an Eastern cultural tradition.

September 03, 2010 2:57 PM
Winson said...

When I first get my first job, I have been approached by agent from Prudential and bought this endowment plan called PruFlexiCash. There are times I regretted about it. The maturity times I chosed in 15 years with monthly premium of 117. But i will definitely not able to get full return if I cancel now (being my 3th years now) Should I continue?

September 12, 2010 11:57 AM

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