Have you ever wonder how much do you need to have in order to bring up a child, from baby to toddler, toddler to young kids, young kids to teenager, teenager to a young adult? Perhaps costs differ from countries to countries. However in Singapore, the cost of upbring a child all the way to Degree Education. Is mention to be 1 Million per child.
Interesting Video Done by Singapore Poly Student. Check it out..
Is true that most of the Parents main concern are the cost of education. As all parents wanted to give their best to the children. What kind of method is the best way to accumulate education funds for the kids? But before the parents think of starting a education plan for them, do take note that they themselves must be insured well, not only in the event of Death. Also dont forget about Critical Illness and Disability Coverage.
Below are my personal opinion which I think are a better solution about education saving,
1> A Investment Linked Program, which cater insurance and as well as investment component. The reason why I prefer this type of plan is mainly because of the flexibility and also the potiential cashvalue I can get from the investment.
2> A trad saving program, [which is not save in the bank] endowment policy (to be known) with flexibility of cashback withdrawal. So I can use the cashback yearly to pay for my child's Pre school costs, and also Primary and Secondary textbooks and uniform.
My posts would to be continue in the next entries.
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