Your kids have received some Ang Pao monies! So what’s next?
Every year, your kids will surely receive some monies. The monies received can be as high as 4 figures every year! What to do with them? You shall put these monies to work in long term. See the table below:-
If your kid is receiving RM1,200 Ang Pao every year, after 15 years, your kid will get RM 18,000 in the saving account at almost 0% interest. Meanwhile, if you choose to help your kid to invest and put into an investment account which grows at 8% annually, the money would have almost double to RM 32,000+. If the rate of return is 12%, the RM 1,200 yearly Ang Pao would turn to RM 44,000+ in 15 years. That is the power of compounding interest and the habit of regular saving.
If the money is untouched for long time, choose a saving place that can help you kids to grow their Ang Pao monies. It can be part of their education fund in the future too! These are some of my kids’ investment accounts and I started with only RM 5,000 each and slowly, it turned out to slowly grow into 5 figures account.
Where you choose to save your money is crucial. Every little effort counts! Let’s help your kids to grow their monies too! Contact me if you wish to help your kids to set up this little investment account!
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