Baby's Future

Personally, ganito ginawa/ ginagawa ko: For my firstborn, I got him a traditional life and critical illness insurance. Then nagsa-saveup ako ng fixed amount monthly (P1,500) together with other cash gifts he gets, na hinuhulog ko sa pagibig MP2 account exclusively for him (I might increase kapag kaya na ng budget). I was thinking of getting an educ. plan pero P5k monthly pinakamababa na nakita ko, though with insurance na yun. But since meron na ngang insurance si firstborn, hindi na pasok sa budget ko. For my bunso, since medyo nahihirapan ako magtabi nung monthly savings ng panganay, I decided to just get her a life with critical insurance rin but yung may investment nang kasama. Then yung supposed na kikitain nun ang sya kong balak gamitin for her educ. after around 15yrs ko balak withdrawin. Then may mp2 acct rin for her cash gifts, but no monthly savings na since mas mataas na yung binabayaran ko for her insurance x investment. May insurance x investments rin kami both ni hubby, and my original plan was to use our investment earnings para sa educ ng mga bata. But upon realizing gaano kababa lang ang nakukuhang pension, lalo na sa sss, I thought na mas mainam siguro if we could use those investment earnings for our retirements instead (I'll already be 60yo by the time my bunso turns 20yo). Of course, I'm not pushing you to get an insurance but priority ko kasi ang may emergency fund in case na may magkasakit sa amin kaya ako kumukuha. Not to mention may peace of mind ako knowing na hindi kawawa ang mga bata in case na may biglang mangyari samin ni hubby. So you could consider just opening an mp2 acct for the kids, if you're a low risk kind of investor like me. Nasa 6-7% pa ang average interest rate sa MP2. To each their own talaga kasi, depende kasi yan sa priority mo and risk level mo. Basta, ganyan yung ginagawa ko para sa amin ☺️