Yeah! Mummy finally opened a CDA for me. Its a cash gift from the government whereby the gov. will match dollar to dollar watever amount Mummy deposit for me, max up to $6K. Means total i will have $12K in my account. This cash gift is on top of the baby bonus of $3K which the gov. gives as well.
Mummy says the $$ to $$ gift may be used for:1) fees @ approved institutions which hv registered with MCYS under the baby bonus scheme, eg: child care centre or MOE registered kindergartens & special education schools, 2) MediShield or Medisave-approved private intergrated plans.
So once i go sch, Mummy can use this $$ to pay for my sch fees or medical related issues. Even Kor Kor can also use this $$.
But Mummy says she will try not to touch this $$ unless really bo pian. I dunno why but Mummy would rather used her own savings to pay for watever i need, or watever Kor Kor requires. Mummy says she will open a joint account for us at a later date. Then all our ang pow $$ can be deposited. It also serves as our savings account.
Nowadays, the banks all have so many different saving & investment plans until Mummy also blur. Even Mummy's insurance agent ask Mummy to use her CPF to invest. And yes, Mummy has earned quite a bit. Thanks to Aunty Candy for monitoring the market & helping Mummy to check her investments on a routine basis.
Errrr...Mummy's going out of topic so we shall stop here. HeHe!
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