Family & Parenthood 02 (Jan 10 - Aug 10)

[winston]

The other day, I was on a coach to nowhere (read, I'm not giving details).

Ha Ha ... very big island. I wonder where can one take a coach to ?

[memphisb]

How much inheritance are you giving to your children next time?


10 %? 100 %? 0 ?%

let them fall, grow strong and independent?

I am not to sure if our next gen is able to take failures while learning or just give up.

[iam802]

My kid will start with 0; until proven.

[memphisb]

what age will you provide education to?

[iam802]

My wish is that the kid can get a 'Degree' of some sorts.

But, that is my wish and it does not mean I will fund 100% of it.

I will leave it to the kid to decide what to do at the right time.

And I know that I am not providing any concrete answers (say like no say)

[Chinaman]

what age will you provide education to?

for male upto 25 rs old, however for female reduce 2 yrs lor, becos of NS. i mean from pri school all the way to Uni... mine both already graduated, as for local U it still affordable, yearly aro 7k. then monthly allowance aro $500...if he want additional pocket money then take in some PSLE or Sec tuition , not a bad income can have aro $300/mth easily.

wiseman said:
[b]teach your children how to fish, dun buy fish for them..[/b]..once they master the skill they will catch the fish themselves..No point buy fish for them to eat, this one dun last long however if he know how to catch the fish then it ever lasting he wouldn't get hunger.

Aiya, dun worry or plan too long...'when ship come to port it will automatic straighten up'...when yr children grown up u become lonely, when they reach 28 yrs old u worry they got no girl or boy friends, when they marry u worry them got no house, when they have children u worry no one look after yr grandchildren.......no end lar.

More importantly, u worry when u old dun have money..dat my advice.

[kennynah]

More importantly, u worry when u old dun have money..dat my advice.

agree...

[OE2008]

what age will you provide education to?

Agree. First, manage your own finance well. Inculcate correct value mindset. Then provide within your means to a full education upto tertiary level. Child should self support if family's circumstances are dire.

[millionairemind]

How much inheritance are you giving to your children next time?

10 %? 100 %? 0 ?%

let them fall, grow strong and independent?

I am not to sure if our next gen is able to take failures while learning or just give up.

I will probably leave nothing to the boy... let him learn to accumulate wealth himself. Like 802, I think it's best to let them learn to fall and then pick themselves up.

As for education, my thinking has been that he should not be getting any money from us after he enters NS, just like I stopped getting any pocket money from my parents after I turned 18.

If he wants to further his studies, he better be good enough to get a scholarship..

If he needs my sponsorship, I will probably only sponsor 1/2 of it with the condition that he maintains a minimal of a 3.5 GPA and he has to figure out how to pay for the other half.

My wish is for him to work overseas for at least 6 yrs before he settles back into Singapore so as to inculcate a sense of self-identity and independence.

[LenaHuat]

What a diversity of views we have here

Independence of spirit - a child should be independent in most aspects of life as soon as possible. Arm him, prepare him, counsel him, whatever it takes from a young age.

Monetary independence - I have very different thoughts on this. Franz Kafka, the German Jewish writer has the strongest influence on my thinking. He only worked 1 shift (that is from 9 am to 1pm) so that he could write. To him, working from 1 am to 5pm, is 2 shifts and would sap his emotions and energy leaving little for the spirit to write and write beautifully. The lack of funds caused him much angst in this endeavour. I would leave my whole estate to my family.

I like this piece from him. His purpose in life is :-

The tremendous world I have inside my head, but how to free myself and free it without being torn to pieces than retain it in me or bury it. That, indeed, is why I am here, that is quite clear to me.