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Education Funds
4 CommentsThis is not a sponsored post. Have you thought of your child’s education fund? Are you planning to send your child overseas? I am thinking of at least sending them to a 1-2 year education overseas. It will teach them independence and open them up to view the world differently. At least the education system is different from the local.
I read in the magazine that 1 year cost at least 100K for fees, accommodation, expenses and travel tickets. It is not cheap. There are a few tips that I would like to share. One, if you are thinking of sending your child overseas, you should start investing now or do some investment research. Two, if you want to send your child to a country say US, you can start buying the country currency and open a currency account. Some banks offer that. By the way, US currency is down. If you are from a richer family, then investing on the country properties is also another good tip. However be sure you find out all the administration charges and hidden cost.
I am not a believer in Education Insurance because it has a lower returns compare to an investment plan without the insurance. Reason behind is that a portion of the money is paid for insurance. It will find more returns if you have a separate insurance plan and an investment plan.
Lastly if all else fail, think of migration. :giggles. If you have great ideas, I want to hear about it.
4 Responses to “Education Funds”
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shooi said on February 23rd, 2007 at 4:45 pm
1) Go to US and have your next bb. Any child born in US can be an American citizen, if yes, then his/ her school fees later will be really cheap.
Same like you, i don believe in edu insurance. So
2) I invest in a good unit trust fund, and i bought a life insurance that is attached to the trust fund. Anything happens to me the $$ will go into the trust fund for my child’s education. It is cheaper than buying edu insurance and yet will possibly yield a higher return. You also have more flexibility on which type of fund you want the $$ to be invested in. Eg, like now when the market is booming, you may want the money in a property fund. But when the property market slows down, then you can switch to a bond fund that is more secure but yield a lower return. Or switch to blue chips fund. A good financial consultant shd be able to advise u wher to invest and when to switch. Talk to a few before settling down for one. If the one you chose don give good service, just switch lo.
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michelle said on February 23rd, 2007 at 4:51 pm
Shooi: Shoot, you should have told me that earlier 😆 I think I am stopping at 2. Yeap, need to meet with a good financial planner soon.
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actually NZ is very receptive to emigrants. there is a big asian (mostly korean and japanese) population there. Coupled with the nature, it is a very very tempting place.
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Angeleyes said on February 27th, 2007 at 12:08 am
my PB also said we should move away from this $$$ sucking country… paid so much tax yet we got nothing when we are old! At least some developed countries taxes are high at least they give you back when you are old tru medical and education for the kids. Here? NOTHING AT ALL!
