Mr. Aaron Koh

Mr Aaron Koh, executive director of wealth and investment advisory firm Providend;
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'We don't buy branded goods, but we do opt for good quality things,' said Mr Salim, who has three kids - Danielle, 15, Ariel, 13 and Aaron, eight.
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And as the children get older and grapple with education and career choices, another principle to guide them is 'financial freedom', said Mr Koh.

This does not mean having to earn a lot of money, but just being free from worries about basic money issues and being able to fulfil one's priorities in life while helping others, he explained.
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A 'Start by getting them to save for their favourite bag or shoe or toy - items that are considered 'wants' rather than 'needs',' says Mr Koh.

From as early as Primary 1, children should be taught about savings and budgeting, as well as bank savings accounts and fixed deposits, he added.
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Mr Koh said if you started now to save over a 20-year period and earned an annual return of 8 per cent of that sum, you would need to set aside $3,100 each year for each child's university education.
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MR KOH, on introducing the idea of saving money to children
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Mr Koh noted that he sets a budget for a reward if his children do well in terms of their attitude and effort - rather than just the results - and he allows them to decide what to buy.

Mr Koh's children, Andrew, 11, gets $12 per week and Amos, 13, gets $22.

Insurance

MR KOH bought life insurance that covers critical illness, with a sum assured of $100,000 when his kids were born.He also took out a hospital and surgical plan that covers medical expenses at a private hospital, with a rider option to remove the co-insurance portion.
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For more complex instruments such as equities and bonds, Mr Koh said 'it is more effective to teach them at later stage when they are 16 years old or beyond'.

Mr Aaron Koh, executive director of wealth and investment advisory firm Providend;
...
'We don't buy branded goods, but we do opt for good quality things,' said Mr Salim, who has three kids - Danielle, 15, Ariel, 13 and Aaron, eight.
...
And as the children get older and grapple with education and career choices, another principle to guide them is 'financial freedom', said Mr Koh.

This does not mean having to earn a lot of money, but just being free from worries about basic money issues and being able to fulfil one's priorities in life while helping others, he explained.
...
A 'Start by getting them to save for their favourite bag or shoe or toy - items that are considered 'wants' rather than 'needs',' says Mr Koh.

From as early as Primary 1, children should be taught about savings and budgeting, as well as bank savings accounts and fixed deposits, he added.
...
Mr Koh said if you started now to save over a 20-year period and earned an annual return of 8 per cent of that sum, you would need to set aside $3,100 each year for each child's university education.
...
Mr Koh noted that he sets a budget for a reward if his children do well in terms of their attitude and effort - rather than just the results - and he allows them to decide what to buy.

Mr Koh's children, Andrew, 11, gets $12 per week and Amos, 13, gets $22.

Insurance

MR KOH bought life insurance that covers critical illness, with a sum assured of $100,000 when his kids were born.He also took out a hospital and surgical plan that covers medical expenses at a private hospital, with a rider option to remove the co-insurance portion.
...
For more complex instruments such as equities and bonds, Mr Koh said 'it is more effective to teach them at later stage when they are 16 years old or beyond'.

Aaron KohCOO

Aaron KohAdministrator