Simulating the compounding of SA from young

I initiated the top-up of my child’s SA in September 2019 to kick off the power of compounding interest. A monthly $100 top-up is a small but steady way in building up her assets. To reiterate, the first $60,000 of combined balances (with up to $20,000 from the OA) earns an extra 1% interest. ItContinue reading “Simulating the compounding of SA from young”

Power of compounding your child’s SA from young

All Singapore Citizen newborns born on or after 1 January 2015 qualify for the enhanced $4,000 MediSave Grant for Newborns. This means that each Newborn kick-start their lives on this world with $0 in their Ordinary Account (OA) and Special Account (SA), and $4,000 in their MediSave Account (MA). Wow! This is a great startContinue reading “Power of compounding your child’s SA from young”