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Why is it so important to plan early for your child’s education? 

I was reading the article:”Singapore mum with $60k debt: I want my kids to have a better life than mine” and my heart goes to emphasize with her and probably many other parents.

In my line, I come across several clients who instead of planning for their retirement (when they are in their 50s), they rather plan for their children’s education. 

And when I ask them why is that so and they will say they that will regret not providing for them if they have the money. 

Thus, they rather spend almost all of their hard earned savings on their children then using them for their own retirment.

And some of my clients also said that they do not expect their children to repay them the amount.

In today’s time, it is very common for children eventually going to universities when they grow up. This is because most jobs that gives a decent income requires at least a Degree.

Like the mother in the article, I believe such situations can be prevented if parents were to plan well and plan early. 

Instead of going into debt for their children’s education, they should have started accumulating small and manageable amount when their child is borne earning an interest from various financial products. In this way, not only they do not end up in debt (paying interest to credit cards/ loan facility) but earning an interest from their accumulation plans.

Having said that it is more important to make sure they themselves are sufficiently protected in the event of death/ disability/ critical illness so that income replacement can actually take place. 

I am glad to be able to assist some of my younger clients to start planning early for their child’s education and their own protection to prevent this kind of scenarios in the future. 

Similarly, I hope to assist more people in this area. 

Contact me at for a personalized no obligation discussion. 

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