Child Education Planning

Can you afford your children’s education?

Parents all want the best for their children. Thirty years ago, a university degree was good enough. But job market competition could not be fiercer these days. We want our kids to not just be educated, but better educated.

That can be costly. As governments worldwide are hard pressed to cut fiscal deficits, public funding for education could further contract in the future. Today’s parents may need to save even more for their children’s education.

Such savings will one day count as your expenditure, but it will be lifelong investments for your kids. We do not want to see them deprived of the opportunity due to lack of means rather than lack of talents.

Start saving early is the key

Financing a child’s education can be more burdensome than you think. However, time is the key to building a good education fund, not money. No matter how young your child might be, you should start saving now!

Hypothetical examples

The university education saving plans of two different families
Lau Wong
Savings goal by age 18 $500,000 $500,000
Child’s age when
starts saving
0 12
Monthly contribution
required(assuming an
annual return of 5%)
$1,500 $6,100
Total contribution $324,000
(over 18 years)
$439,200
(over 6 years)
These hypothetical examples are for illustration only and do not represent any fund performance.
Remember: The better prepared you are in planning for their education with your finances, the more choices your children will have!

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