But my mom is very thifty and practical in spending and saving.
She only allows me and my sister to cash out half of the money in $30K while setting up a special POSB current account in which she keeps the balances - myself, my sister and her share in.
This is so that whenever we need money - I for my online businesses and my sister for herself and kids after a bitter divorce, she can also leverage on that pool of funds WITHOUT using any of her money.
This is my accidental discovery upon opening a letter with my name but the bank statement is under her name according to POSB.
So even while I am experiencing challenges in my first 3 years of doing internet marketing - be it technical like setting up a website, marketing and expenses in paying for web hosting, domain and advertising from time to time, she has been supporting me with a monthly allowance of $500-600.
Without using any of her money but my dad's money. Of course if my dad is still alive and knows this, he will be absolutely furious with me.
And despite of my robust arguments with her since she does not like to see me "lazing around at home and playing computer games".as she don't understand how computers work and use them.
As no parent in the right mind will want to invest thousands on their children but see children succeeding after only 5-6 years.
Especially S'porean Kiasu / Afraid-To-Lose-To Others parents in my country Singapore.
But of course if I asked her for more money, she says NO since I am working from home and have to spend within the monthly $500-600.
She do give us a share of $3000-7000 whenever my dad's shares made dividends come mid-year and end of the year.
And what I am grateful as most people will have given up after 2-3 years of trying, not seeing results and being emotional / desperate.
Even though he loses a lot of money in Global Financial Crisis, he still has 2 investment accounts with DBS and UOB making him money and providing for me and my family.
And why I decided to have 2 accounts as well - DBS for my own personal spending and UOB strictly for business spending.
For the past 8 years since doing IM full-time mostly.
This is also the reason I am able to survive and keep my online businesses going even when I was struggling initially.
As well as my Aweber autoresponder account and all my domains and websites even though I changed my web hosting 3 times.
From Mattieblaze to Hostgator to E-Host and now Justhost.
Even though my mom has more than enough money to retire with over $350K, she does not like to stay at home all the time.
She prefers to continue working and staying active not in exercise but in networking and connecting with people.
With friends and hotel guests throughout her over 30 years in housekeeping with Shangrila and now facility room cleaning and keeping in an event management company she did not want to say.
Even on her leave, she enjoys travelling and has been to over 60 countries on cruises and planes.
And at home, she likes to do spring cleaning all the time especially Sundays unlike most parents who do spring cleaning before Chinese New Year.
Once she makes sure the house is clean, then she bathes, relaxes and watches TV.
In contrast to most parents and grandparents, she feels staying at home all the time will make her forgetful, depressed and sick due to old age.
And why I am suggesting to you - those who are parents - to have a separate savings account for your children.
In case they don't want to work for bosses, feel fed up with working for bosses and wants to be their own boss.
But don't let your children know until they are old enough to think for themselves and be accountable for their actions when running their businesses and -
Whether their businesses makes or loses money.
That is my mom in the photo below.
Should have posted this on Mothers' Day but forgot and decided to post this today.
Even though this is my personal and family affair I initially don't want to reveal.