How to build your children's education fund?
Below is the monthly amount to save for a child's university fee.
Assumption
- A degree course takes 4 years (Ages 19 to 22).
- The University fee is $6,250 per year (at the current dollar).
- Net investment return is 6% and the inflation rate is 3%.
Conclusion
- The earlier you start the more you gain.
- I cannot emphasize enough the importance of education for a child. It's going to be more costly year by year. You need to prepare for it early. Especially when you have more than 1 child.
Do your child has an education fund?
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The above personal opinion does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. The past performance of the above securities is not indicative of the future performance of the securities. Please refer to the disclaimer statement.
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