Child Education Planning

There are many reasons why many parents do not plan early for child education. The main reason, I think, is that parents fail to understand how future costs can escalate to a level which is beyond their ability to finance child education.

Most parents still think that university education is too far away to be worried right now. There is plenty of time to plan, and child education can wait while money are spent on other things such as travel, new furniture, the car, golf, and a host of desirable items to enjoy. Sad to say, all these do not contribute to accumulating wealth or funds for child education.

As the old folks used to say "...at the blink of the eye, 30 to 40 years have passed us by." Time passes by very quickly, and there is no turning back the clock. If savings and investments are not implemented early, parents will dearly miss the rule of compounding to meet child education objectives.

It is therefore important that parents embark on a regular savings program as early as possible in order to achieve the required child education fund. This is because inflation can erode the value of money over time and why your money should be put to work harder for you in order to compensate for the depreciation in value caused by inflation.

Hence, a child education plan is critical to help map out strategies for both investments and risk management to play its role effectively in the child education plan.

A licensed financial planner will help you do just that. Call Mike Lee, CFP at 019-2236208 for an appointment.