Ways to Start Investing For Your Children to Give Them a Financial Head-Start - Singapore News

Most doting parents want to provide their children with a safe and secure growing experience. Especially when it comes to their little ones’ financial future, many are going beyond storing their hard-earned money in the best savings accounts to explore portfolio diversification with different investment products in Singapore.

With soaring inflation, investing early makes perfect sense for building wealth and helps defray the cost of raising a child in Singapore.Every parent’s idea of what they want their child to experience growing up is different. However, there are some common financial goals that you may start working on if you want to give your children a financial head-start:are crucial since expenses can stretch from preschool enrichment classes to overseas education.

ensures your children are protected until they reach adulthood. This goes beyond managing the cost of raising a child in Singapore because it considers larger financial challenges, such as buying a home, starting a business or starting a family.First and foremost, you must establish the financial goals, how much you need to achieve and the investment period to reach the goals.

As a rule of thumb, high-risk investment products may be more suitable for financial goals that must achieve large sums within a short timeframe. If you have the flexibility of a longer investment period, like over ten years, you can select from either high-risk and low-risk products or a combination of both to achieve the goals you set

Next, decide on an investment strategy after studying the variety of investment options in the market. Conservative and low-risk investments may offer lower returns, while more aggressive investments could provide higher returns but also means there is a chance of losing your capital. When in doubt, always use a financial calculator or seek the help of a financial advisor to determine how much you need to contribute to reach your desired goals.

Source: News Formal (newsformal.com)

Singapore Latest News, Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Ukraine to start talks with US on security guaranteesSecurity guarantees for Ukraine will ensure its capacity to defeat Russia, said the chief of staff. Read more at straitstimes.com.
Source: STForeignDesk - 🏆 4. / 71 Read more »

Scotland enjoy winning start to World Cup warm-up programmeCAPE TOWN : Success for Scotland over Italy in their first World Cup warm-up test on Saturday was far from convincing but still left coach Gregor Townsend pleased with a win under their belt some six weeks before the kick-off of the tournament in France. Scotland beat Italy 25-13 at Murrayfield in the fir
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

MP Liang Eng Hwa meets residents before start of treatment for nose cancer“If the side effects are not too bad, and I’m not too tired, I will still want to come for the MPS. I’ll do what I can,” he said. Read more at straitstimes.com.
Source: straits_times - 🏆 5. / 69 Read more »

MP Liang Eng Hwa meets residents before start of treatment for nose cancerThe Meet-the-People Session (MPS) at Bukit Panjang SMC carried on as usual with MP Liang Eng Hwa on Monday night, five days after he announced he would be
Source: thenewpaper - 🏆 7. / 63 Read more »

5 minutes of morning meditation can lower stress and anxiety for the rest of the day – here’s how to startStarting a regular practice doesn’t have to be hard – it can take as little as five minutes as soon as you wake up.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Nordic governments seek to de-escalate tension as more Qurans are burntDenmark and Sweden said they are examining ways to legally limit such acts. Read more at straitstimes.com.
Source: STForeignDesk - 🏆 4. / 71 Read more »