Ang Pows

Am I unlucky of what?



My very first round of ang pow collection met the worst economic crisis of the century.




*This year, i got away with just plain puppy eye looks and the adults shoved me the ang pows which i immediately put it in my mouth and wet one corner of it with my saliva.





**Next year, i will probably be expected to at least put my 2 fist together and raise it up and down, and say "Gong Xi Gong Xi"





when i turn 2 and a half years old, i would have to do point 1* , 2** and also throw my arms up and say "HUAT AH!"



These days, money hard to earn.


Mommy put all my ang pows under my pillow and explained to me that hóng bāo’ 红包 or ‘Ya Sui Qian’ 压岁钱 (which was evolved from压祟钱, literally, the money used to suppress or put down the evil spirit.) Hence, red packets are sealed envelopes of kind blessings. Mommy wants me to keep this tradition and only open the ang pow after the 15th day of new year.

Opening my ang pows after new year :)

i bite.

$2000!!!

Initially, Mommy wanted to open a junior savings account for me.

Daddy asked Mommy about what she intended to do with the money in my bank account.

Mommy: "Hrmm... give it to her when she turns 18 or earlier if she could demonstrate good thrifty habits?"

Daddy : " So we dont need the need to be withdrawn for 18 years? then why put the money in the bank and earn peanuts?

Daddy suggested using the money to buy me a $100,000 whole life policy with critical illness coverage from a budding age.

For a Guaranteed 15 year policy (only pay for 15 years for a whole life protection), i would use my ang pow money every year for 15 years to pay for my annual premium of about $1700

Dad and Mom would top up the rest for me of about $400 for my critical illness coverage.

I would continue to do that for 15 years as Daddy and Mommy dont see why i would need the money at all for the first 15 years of my life.

By then, i would have saved $26,ooo at a age of 15 and no longer have to worry about financing my life policy from my very first pay cheque when I start to work.

i would just leave my money to work for me and grow and retire with $250,000 in my bank at age 65!

This way, Mommy could easily explain to me how investment works and the good of disciplined savings.

I would also be able to tell you what my Dad does for a living and tell my friends that Im so proud of what my Dad does, by protecting you and me, financially, if the unfortunate happens to the ones who loved us most.

* My Godpapa, Ryan, bought me a gift of a 18 years savings plan, which the returns would be more than sufficient for a 4 year honours degree in a local university, as my 1st month gift. Big thanks Kuay Daddy!!! muacks...

My daddy would do the same too for godpa's baby in future too :)

We would not be like cousins. Mommy hope that we get along well and we will be brought up together like real brothers and sisters.

Thats how a family should be :)