Education

Parenthood is a beautiful journey, with joys of watching your children grow. Yet it comes with responsibilities to take care of them – caring for their health, their emotional and physical needs, imparting knowledge and good values, guiding them and planning for their future. One crucial area is to provide for your child’s future tertiary education. By proactively saving towards it, your child will have a head-start within society.

So how much should you save and what are the avenues to accumulate for your child’s education needs?

In Singapore Universities: $33,000 (4 year course)

In Overseas University: $19,000 to $74,000 each year

We will also need to factor in the student accommodation, living costs, and miscellaneous costs.

How should you plan for your children’s education savings?

1. Based on today’s costing, identify the amount needed, and factor in education cost inflation to the number.
2. Work backwards based on how many years you have to reach the target to derive how much you need to set aside regularly.
3. You could use a savings plan for certainty of guaranteed payout for your child’s education or investments products to make your money work harder for you over a longer timeframe.

Rest assure our team of financial planners will guide you to chart out the right education savings and investment plans that meet your goals. Book an appointment with us and get started on your child’s education savings plan.