The Business Times
SENSE & CENTS
·
SUBSCRIBERS

Giving money to loved ones helps, but not much

We should take care not to go overboard in funding a child at the expense of our retirement adequacy

google-preferred-sourceAdd BT as a preferred source
Leslie Yee

Leslie Yee

Published Tue, Jan 16, 2024 · 04:23 PM
    • Leaving a financial inheritance to the next generation can be tricky.
    • Leaving a financial inheritance to the next generation can be tricky. PHOTO: BT FILE

    I DO not know if friends are asking in jest when they inquire if I have bought a home in trust for my primary school-going child.

    To date, I have not done so. I would need plenty of cash, as a purchase of a home in trust for a minor has to be funded solely by cash. 

    Perhaps it is a no-brainer for cash-rich parents or grandparents to buy homes in trust for their young children or grandchildren. 

    Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.

    personal financeWealth managementSense & Cents

    Copyright SPH Media. All rights reserved.

    Reuse this contentFeedback
    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More