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EWmums

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Your Kids Future?

48

Posts

EW NEWBIE

Latest post on 18 January 2011 - 15:00

what do you do to protect your kids financial future?

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121

Posts

EW NEWBIE

Latest post on 18 January 2011 - 21:46

THis is what we plan too. We will pay for their education - but our kids will need to start getting summer jobs and weekend jobs when they get older to get experience and value for money - I had summer jobs since I was 15. And the kinds of jobs you get at that age really make you want to study. I worked in a butcher's making mince meat in a cooler room, in a closed ward for mentally ill patiens where I had the duty to take them for a wash every morning, all sorts of things. A real eye opener. And made me also want to study as I did not want to end up doing those jobs for the rest of my life. But also to appreciate people of all walks of life who do different types of jobs. Not everyone is going to be a CEO or an executive - all jobs at the end of the day are needed. Thank you yall for your feedback, what I meant is do you have any accounts for your kids in Dubai, while you are living here? also for those who said that the kids has to work, I agree with that but what is you and ur DH no longer exist while your little Ones are still young? We just made a will here and were advised not to keep anything in the UAE. PUt most of the money outside of the UAE which w have done. So we do not have any special savings accounts here. I strongly advise you to make a will because it will save a lot of hassle. We have gone through a litany of points with the lawyers, and have really woken up to the reality. Our lawyers even advised not to even own property here. Ensure you have executors of the will appointed, guardians, even temporary giardians and beneficiaries appointed. A will is a must when you live here. For us it cost Dhs 10,000 to have one done in both English and Arabic. So please do not open anything here, do it in your own country or offshore, that way should something bad happen you are not tied to the laws of this country.

140

Posts

EW NEWBIE

Latest post on 18 January 2011 - 21:38

Two saving accounts, one from me & the other one from DH. In my country we dont have any financial support by the govt, so we have to think about securing our DS future. Once he finishes school, this money would be available for his university study if he chooses to go to university. It will be his at the age of 18 & he can do whatever he wants with it. what banks are you using for the kids account, is there such an education account for kids in Dubai? If you're not from the UAE, then try not to keep you're money here. Invest it offshore.

48

Posts

EW NEWBIE

Latest post on 18 January 2011 - 20:54

Two saving accounts, one from me & the other one from DH. In my country we dont have any financial support by the govt, so we have to think about securing our DS future. Once he finishes school, this money would be available for his university study if he chooses to go to university. It will be his at the age of 18 & he can do whatever he wants with it. what banks are you using for the kids account, is there such an education account for kids in Dubai?

48

Posts

EW NEWBIE

Latest post on 18 January 2011 - 20:53

THis is what we plan too. We will pay for their education - but our kids will need to start getting summer jobs and weekend jobs when they get older to get experience and value for money - I had summer jobs since I was 15. And the kinds of jobs you get at that age really make you want to study. I worked in a butcher's making mince meat in a cooler room, in a closed ward for mentally ill patiens where I had the duty to take them for a wash every morning, all sorts of things. A real eye opener. And made me also want to study as I did not want to end up doing those jobs for the rest of my life. But also to appreciate people of all walks of life who do different types of jobs. Not everyone is going to be a CEO or an executive - all jobs at the end of the day are needed. Thank you yall for your feedback, what I meant is do you have any accounts for your kids in Dubai, while you are living here? also for those who said that the kids has to work, I agree with that but what is you and ur DH no longer exist while your little Ones are still young?

121

Posts

EW NEWBIE

Latest post on 18 January 2011 - 15:40

THis is what we plan too. We will pay for their education - but our kids will need to start getting summer jobs and weekend jobs when they get older to get experience and value for money - I had summer jobs since I was 15. And the kinds of jobs you get at that age really make you want to study. I worked in a butcher's making mince meat in a cooler room, in a closed ward for mentally ill patiens where I had the duty to take them for a wash every morning, all sorts of things. A real eye opener. And made me also want to study as I did not want to end up doing those jobs for the rest of my life. But also to appreciate people of all walks of life who do different types of jobs. Not everyone is going to be a CEO or an executive - all jobs at the end of the day are needed.

Sugarbeach23383

1566

Posts

EW EXPERT

Latest post on 18 January 2011 - 15:33

We plan to invest in a good education for her and instill a strong sense of independence.

904

Posts

EW GURU

Latest post on 18 January 2011 - 15:31

Two saving accounts, one from me & the other one from DH. In my country we dont have any financial support by the govt, so we have to think about securing our DS future. Once he finishes school, this money would be available for his university study if he chooses to go to university. It will be his at the age of 18 & he can do whatever he wants with it.

297

Posts

EW NEWBIE

Latest post on 18 January 2011 - 15:24

We don't. When they get out of school, they will get jobs and they will earn their own money, the same way DH and I have both done.

121

Posts

EW NEWBIE

Latest post on 18 January 2011 - 15:16

We have an investment fund that they will get when they come of age and go to university. We put money there every month. Also my parents have started savings plan for our DD and will do the same for our soon to be born second child - where they put money every month - also with view to take them through good university education later on (if they choose to go to university). When I was a child, in my country parents get monthly payment for each child - good Scandinavian social security system! - they did not touch it at all for 18 years and when I turned 18, they handed it over to me. We also have invested money in land and some property, but not here - all in my DH's home country.

48

Posts

EW NEWBIE

Latest post on 18 January 2011 - 15:13

what do you do to protect your kids financial future? Bump!

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