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Thread: OMG! Did I make the RIGHT decision for my SON?

  1. #1
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    Default OMG! Did I make the RIGHT decision for my SON?

    After I posted buying an unit at eCO under my son's name and for my son. I gathered the general feeling from a couple of parents here.

    1. Children shall stand on their own feet. (two hands up..AGREED)
    2. Children shall buy BTO as this is their entitlement (?) grant $30,000
    3. will help the children to foot the downpayment if need to. (agreed)

    Allow me to table my thoughts.
    1. I view investment as a family decision, risk portfolio management is the entire family. I don't differentiate between my children and mine. Afterall, my monies are theirs but theirs are not mine.

    2. Buying eCO, firstly I must establish the price is reasonable. Next by putting under my son's name, the saving in ABSD is 3% or about $41,000 which is far more that the $30,000 grant given by Govt.

    3. For my son to buy a BTO/resale, he needs to find his wife to be first. He is now 23, by the time, he find the right one, perhaps is 28, book at BTO and 5 years MOP, will bring him to 35 for him to buy the first PC. That is about 12 years all in all.

    4. Let's say, property price goes up in line with inflation of 4%pa, 12 years x 4% will give him 48% up on a base on $1.4m or $672,000. For HDB, say from the time he book till end of MOP, 8 years, 8x4%X$300,000 (price of HDB) or $96,000. The difference is substantial. Of course, if the property price down, then my son will hit more.

    5. After the TOP of eCO, he can rent out the unit and rental used to pay mortgage.

    Ok, that is all to share.
    There is no right or wrong in this case. Only Mr Market and Mr Time can tell perhaps 10 years later. Hopefully, I can happily posting to this thread at that time.

  2. #2
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    don't you find the property price is too high now?





    is your daughter cute looking?
    I took the road less traveled by, and that has made all the difference. - Robert Frost quotes (American poet, 1874-1963)

  3. #3
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    Quote Originally Posted by roly8
    don't you find the property price is too high now?is your daughter cute looking?
    High or low is a matter of relative and how u can read the price of tomorrow.
    It is high as compared to yesterday's price, but most likely it is low if you can read the price of tomorrow.

    My girl is not cute looking. Why u bring up about my girl?

  4. #4
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    SUPER UNLIKE.

    always thought laguna is dare to do, great foresight and never buy on impulse type.

    now buyer remorse, sigh, minus marks in my heart liao.

  5. #5
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    Am surprised with your vast network of real life friends u chose to pay heed to 'parents' in the virtual world instead.

  6. #6
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    Quote Originally Posted by Laguna
    High or low is a matter of relative and how u can read the price of tomorrow.
    It is high as compared to yesterday's price, but most likely it is low if you can read the price of tomorrow.

    My girl is not cute looking. Why u bring up about my girl?

    dunno..maybe u know what is coming for the future... must do your homework properly..


    me not gay
    I took the road less traveled by, and that has made all the difference. - Robert Frost quotes (American poet, 1874-1963)

  7. #7
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    Quote Originally Posted by Laguna
    After I posted buying an unit at eCO under my son's name and for my son. I gathered the general feeling from a couple of parents here.

    1. Children shall stand on their own feet. (two hands up..AGREED)
    2. Children shall buy BTO as this is their entitlement (?) grant $30,000
    3. will help the children to foot the downpayment if need to. (agreed)

    Allow me to table my thoughts.
    1. I view investment as a family decision, risk portfolio management is the entire family. I don't differentiate between my children and mine. Afterall, my monies are theirs but theirs are not mine.

    2. Buying eCO, firstly I must establish the price is reasonable. Next by putting under my son's name, the saving in ABSD is 3% or about $41,000 which is far more that the $30,000 grant given by Govt.
    Was
    3. For my son to buy a BTO/resale, he needs to find his wife to be first. He is now 23, by the time, he find the right one, perhaps is 28, book at BTO and 5 years MOP, will bring him to 35 for him to buy the first PC. That is about 12 years all in all.

    4. Let's say, property price goes up in line with inflation of 4%pa, 12 years x 4% will give him 48% up on a base on $1.4m or $672,000. For HDB, say from the time he book till end of MOP, 8 years, 8x4%X$300,000 (price of HDB) or $96,000. The difference is substantial. Of course, if the property price down, then my son will hit more.

    5. After the TOP of eCO, he can rent out the unit and rental used to pay mortgage.

    Ok, that is all to share.
    There is no right or wrong in this case. Only Mr Market and Mr Time can tell perhaps 10 years later. Hopefully, I can happily posting to this thread at that time.
    Why are u having 2nd thoughts? What triggers u to post the above?

  8. #8
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    Quote Originally Posted by carbuncle
    SUPER UNLIKE.

    always thought laguna is dare to do, great foresight and never buy on impulse type.

    now buyer remorse, sigh, minus marks in my heart liao.
    sori lah! I don't understand why u said I am in buyer remorse?
    I just shared my reasonings....I never regret in my decision, and in fact, my son alr exercised the option last week.

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    Financially, it does make cents and sense. For all you know years down the road, when Eco made him $$, he could be so thankful to you for giving him the head-start in the investment journey, whereas most of his peers would probably still be struggling.

    On the flip side, would he feel that he is forever living in your shadows? One of the most major milestones in life ie. buying the 1st house (other than marriage), is largely decided by his dad and not by himself? When he is older say 28, will he have his own set of thinking, judgement and plan?

    At the end of the day, I m quite sure he would be grateful to you for all you have done for him

  10. #10
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    Quote Originally Posted by fiat500
    Why are u having 2nd thoughts? What triggers u to post the above?
    No, I don't hv the second tot. Did my write up sound like that? Perhaps, I shall change the title to "I made the RIGHT decision for my SON"

    I just share my view with those parents insist that their children must buy HDB BTO as their entitlement even financially they can efforts to buy for their children.
    Last edited by Laguna; 14-10-12 at 12:21.

  11. #11
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    Quote Originally Posted by zeamybro
    Financially, it does make cents and sense. For all you know years down the road, when Eco made him $$, he could be so thankful to you for giving him the head-start in the investment journey, whereas most of his peers would probably still be struggling.

    On the flip side, would he feel that he is forever living in your shadows? One of the most major milestones in life ie. buying the 1st house (other than marriage), is largely decided by his dad and not by himself? When he is older say 28, will he have his own set of thinking, judgement and plan?

    At the end of the day, I m quite sure he would be grateful to you for all you have done for him
    By the time he is 28, he will be buying his second property using his money.

    This is what exactly happened to my girl. We helped her (perhaps around S$150,000 then), when she was 21, bot her first property. And at the age of 25, she bot her second property on her own.

    At the age of 26, she sold her first property, and now aiming to buy a very much better property or invest in business. At least, she has the seed money. And she is sitting on a good paper profit on her second property.

  12. #12
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    Quote Originally Posted by Laguna
    No, I don't hv the second tot. Did my write up sound like that? Perhaps, I shall change the title to "I made the RIGHT decision for my SON"

    I just share my view with those parents insist that their children must buy HDB BTO as their entitlement even financially they can efforts to buy for their children.
    The title of the thread is OMG! Did I make the RIGHT decision for my SON?

    That means you are wondering if you made the correct decision.

    To me, as long as you are not overstretched in your loan, there is no right or wrong. If I were your son, my answer will be "mommy, you have made the right decision ."

  13. #13
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    Quote Originally Posted by roly8
    dunno..maybe u know what is coming for the future... must do your homework properly..


    me not gay
    u not Gay but u not the only straight single guy in this forum also

  14. #14
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    Quote Originally Posted by Laguna
    sori lah! I don't understand why u said I am in buyer remorse?
    I just shared my reasonings....I never regret in my decision, and in fact, my son alr exercised the option last week.
    aiyo u!

    wrong choice of words la. ok add back marks.

    now realise ur england quote terok. minus marks again. lol

  15. #15
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    Sometimes what appears to be a blessing might turn out a curse.

    From your son's angle, I will say he is blessed.

    Nonetheless I have relatives who earn over millions a year but insists the son earns his own dough to pick up skills.

  16. #16
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    Quote Originally Posted by carbuncle
    aiyo u!

    wrong choice of words la. ok add back marks.

    now realise ur england quote terok. minus marks again. lol
    haha, spent too much time in Chinese poem writing lor!

  17. #17
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    Have different opinion. I concur with all the 3 points made by some of you. I will adopt the following strategy:

    1. Prefers my kids to buy BTO flat first even though they can afford a condo.

    2. If they are to get married, they can stay in one of those condos or house while waiting for the BTO flats. I will still charge them a minimum rental as they are passive income to my spouse and I.

    3. Will only pass over my properties as gift to them when I pass on but after assessing their spouses. Otherwise, it will be in the trust. This will give them additional monthly income from the rent.

    The above strategy is based on the current circumstances like CMs, restriction, etc.

    Just my opinion.


    Quote Originally Posted by Laguna
    After I posted buying an unit at eCO under my son's name and for my son. I gathered the general feeling from a couple of parents here.

    1. Children shall stand on their own feet. (two hands up..AGREED)
    2. Children shall buy BTO as this is their entitlement (?) grant $30,000
    3. will help the children to foot the downpayment if need to. (agreed)

    Allow me to table my thoughts.
    1. I view investment as a family decision, risk portfolio management is the entire family. I don't differentiate between my children and mine. Afterall, my monies are theirs but theirs are not mine.

    2. Buying eCO, firstly I must establish the price is reasonable. Next by putting under my son's name, the saving in ABSD is 3% or about $41,000 which is far more that the $30,000 grant given by Govt.

    3. For my son to buy a BTO/resale, he needs to find his wife to be first. He is now 23, by the time, he find the right one, perhaps is 28, book at BTO and 5 years MOP, will bring him to 35 for him to buy the first PC. That is about 12 years all in all.

    4. Let's say, property price goes up in line with inflation of 4%pa, 12 years x 4% will give him 48% up on a base on $1.4m or $672,000. For HDB, say from the time he book till end of MOP, 8 years, 8x4%X$300,000 (price of HDB) or $96,000. The difference is substantial. Of course, if the property price down, then my son will hit more.

    5. After the TOP of eCO, he can rent out the unit and rental used to pay mortgage.

    Ok, that is all to share.
    There is no right or wrong in this case. Only Mr Market and Mr Time can tell perhaps 10 years later. Hopefully, I can happily posting to this thread at that time.

  18. #18
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    Quote Originally Posted by Laguna
    By the time he is 28, he will be buying his second property using his money.

    This is what exactly happened to my girl. We helped her (perhaps around S$150,000 then), when she was 21, bot her first property. And at the age of 25, she bot her second property on her own.

    At the age of 26, she sold her first property, and now aiming to buy a very much better property or invest in business. At least, she has the seed money. And she is sitting on a good paper profit on her second property.
    Ok, I see that as the way u have chosen to educate and nurture your children. Nobody can say its right or wrong, but as u said, there will be many other parents who would prefer their kids to learn how to stand on their own feet.

    My parents didn't pay play a direct role in my first purchase ie. I use my own $ and made my own decision , but I know I would have a safety net supporting me shld I run into trouble.

  19. #19
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    What if there is a major correction in 2-3 years time?
    Quote Originally Posted by zeamybro
    Financially, it does make cents and sense. For all you know years down the road, when Eco made him $$, he could be so thankful to you for giving him the head-start in the investment journey, whereas most of his peers would probably still be struggling.

    On the flip side, would he feel that he is forever living in your shadows? One of the most major milestones in life ie. buying the 1st house (other than marriage), is largely decided by his dad and not by himself? When he is older say 28, will he have his own set of thinking, judgement and plan?

    At the end of the day, I m quite sure he would be grateful to you for all you have done for him

  20. #20
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    Quote Originally Posted by DC33_2008
    What if there is a major correction in 2-3 years time?
    I supposed Laguna will help to clean the mess.

    But I would prefer to have the chance to make my own decision, enjoy my own achievements and of cos clear my own mess if any

  21. #21
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    Quote Originally Posted by zeamybro
    Ok, I see that as the way u have chosen to educate and nurture your children. Nobody can say its right or wrong, but as u said, there will be many other parents who would prefer their kids to learn how to stand on their own feet.

    My parents didn't pay play a direct role in my first purchase ie. I use my own $ and made my own decision , but I know I would have a safety net supporting me shld I run into trouble.
    u guys are so foetunate. seeds money la, safety net la

    my parents ever interested to know my salary and all profit I made in properties, then can ask for more allowance, when truth is they spent much much more on my sibling overseas ed.

    maybe cox I not gonna b possible to carry on family line so better squeeze max out first. they have said will sell their house to fund retirement, so 0 for me

    but I m grateful to them becoz if life had been easy for me, I wouldn't have left home to survive on my own, much less buy my first home at age of 29 after deeming that renting is a waste of money.

  22. #22
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    Quote Originally Posted by carbuncle
    u guys are so foetunate. seeds money la, safety net la

    my parents ever interested to know my salary and all profit I made in properties, then can ask for more allowance, when truth is they spent much much more on my sibling overseas ed.

    maybe cox I not gonna b possible to carry on family line so better squeeze max out first. they have said will sell their house to fund retirement, so 0 for me
    Carbuncle I m sorry to hear this... But what I observe is that usually it's ppl like you who turn out to be more adventurous, competent and successful. Sometimes too much protection or guidance has adverse effects

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    Quote Originally Posted by zeamybro
    Carbuncle I m sorry to hear this... But what I observe is that usually it's ppl like you who turn out to be more adventurous, competent and successful. Sometimes too much protection or guidance has adverse effects
    I m also so so sorry for being the only son. guess life is fair.

  24. #24
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    I think this is quite a clear trend but I never concur that this is right. It is such action that continue to push the price upward and then ironically, we say that our next generation cannot afford to buy property in future...

    Sometimes it is really contradict. We want them to have a good start, but, using money could in the end nurture them toward a wrong direction in life. so at the end, we might not have done the right thing.

    Personally, I have always tell my kids, you have to earn what you deserve and harvest from your own effort and hard work. They will learn how to cherish...

  25. #25
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    Quote Originally Posted by Laguna
    Ok, that is all to share.
    There is no right or wrong in this case. Only Mr Market and Mr Time can tell perhaps 10 years later. Hopefully, I can happily posting to this thread at that time.
    Since u can afford it, the general public has to thank you for removing your son from competing with the mass on BTO or HDB. thanks for giving others the chance.

  26. #26
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    Quote Originally Posted by Laguna
    After I posted buying an unit at eCO under my son's name and for my son. I gathered the general feeling from a couple of parents here.

    1. Children shall stand on their own feet. (two hands up..AGREED)
    2. Children shall buy BTO as this is their entitlement (?) grant $30,000
    3. will help the children to foot the downpayment if need to. (agreed)

    Allow me to table my thoughts.
    1. I view investment as a family decision, risk portfolio management is the entire family. I don't differentiate between my children and mine. Afterall, my monies are theirs but theirs are not mine.

    2. Buying eCO, firstly I must establish the price is reasonable. Next by putting under my son's name, the saving in ABSD is 3% or about $41,000 which is far more that the $30,000 grant given by Govt.

    3. For my son to buy a BTO/resale, he needs to find his wife to be first. He is now 23, by the time, he find the right one, perhaps is 28, book at BTO and 5 years MOP, will bring him to 35 for him to buy the first PC. That is about 12 years all in all.

    4. Let's say, property price goes up in line with inflation of 4%pa, 12 years x 4% will give him 48% up on a base on $1.4m or $672,000. For HDB, say from the time he book till end of MOP, 8 years, 8x4%X$300,000 (price of HDB) or $96,000. The difference is substantial. Of course, if the property price down, then my son will hit more.

    5. After the TOP of eCO, he can rent out the unit and rental used to pay mortgage.

    Ok, that is all to share.
    There is no right or wrong in this case. Only Mr Market and Mr Time can tell perhaps 10 years later. Hopefully, I can happily posting to this thread at that time.

  27. #27
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    Quote Originally Posted by lajia
    Personally, I have always tell my kids, you have to earn what you deserve and harvest from your own effort and hard work. They will learn how to cherish...
    Yes, agreed
    But I added on, "children, if u need help, I will help u to the best I can to let you have a stronger and better head start."

  28. #28
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    Quote Originally Posted by leesg123
    Since u can afford it, the general public has to thank you for removing your son from competing with the mass on BTO or HDB. thanks for giving others the chance.
    Look at it from another angle.
    I shall be very happy if my son is not eligible to buy BTO if family income exceeds. Isn't it good?


    BTW, I am not trying to show off, but just sharing my tots with fellow forummers.

  29. #29
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    me haven't find my true love.. once i find it...reality will hit my face... eg. high property, cost of living..

    really scary race ahead
    I took the road less traveled by, and that has made all the difference. - Robert Frost quotes (American poet, 1874-1963)

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    My son applying for French citizenship tomorrow. He is going for his NS end of the year. After NS he will apply for scholarship, if no scholarship. Then I will support him for university in Singapore. If cannot get the study he is interested in Singapore then he join me in France.

    He was very angry when he found out that he cannot vote when he apply for French citizenship. Then I ask him what he know about voting in Singapore. If enough people vote for a gov that can spend more than they can make, it time to pack and go. If government educate non SC and SC have no chance and need to go oversea to study then it also time to pack and go.

    Ask not, what the country can do for you. But if the country can't educate you then it time to go.

    http://www.straitstimes.com/premium/...broad-20121014

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