Savings for your child

Dear Mr. Tan,
I have two boys. Since birth, I have been depositing their ang baos into their saving accounts. I was wondering if there are any better way of growing their money (in a long term) so that they can use it for their education in future.

REPLY

I hope that, in the near future, there will be low cost investment funds. If you are investing for the long term, the risk is reduced considerably and you will get a much higher return.

For the time being, it appears that the saving account is the best way to keep the savings.

Read this FAQ:
http://www.tankinlian.com/faq/savings.html