Have you ever looked at your savings and/or investments and wished you'd started much earlier?
It is natural to feel disappointed for missing out on taking advantage of the magic of compounding interest, let us not cry over split milk.
Instead, let us try to learn something from this experience so that you will emerge wiser in the subject of investing.
YOU CAN DO SOMETHING TODAY TO GIVE YOUR CHILD/REN THE FINANCIAL HEAD-START YOU NEVER HAD.
Every parent also knows that education is not cheap. Its cost is escalating everyday, due to many factors such as inflation. For many parents, paying for a child’s tertiary education is one of the heaviest financial responsibilities that they will have to undertake if they want to give their child that head start in life that they are dreaming of. This involves an accumulation of a large sum of money. For example, based on a 5.0% inflation rate, a more than RM40,000 arts/business degree programme today is going to cost a whopping RM 83,000 in 15 years’ time.
Your children are watching you and they will learn how to handle the money like you do it. Getting your child/ren to learn and start an investment savings when they are young ... and allow them to be part of the strategy planning ... teaches them the value of money and importance of budgeting.
Tuition fee and living expenses for overseas studies have increased by 3.0 to 8.0% a year. How will the average parent get around this cost? By giving themselves time and doing proper planning.
Plus, with the cost of education skyrocketing each day, it is essential to have a plan that can safeguard his future.
Financing your child’s education is not the only worry you might have when it comes to his/her future. Life as we know it is full of uncertainties, and that is why it is also important that you provide your offspring with proper protection to guard him against unforeseen circumstances.