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How do we go about setting up a general education fund for children without tying down the insurance plan to any specific child?

Further elaboration of the response in Financial Special 01, a contractual investment program could be started with monthly investment amount equivalent to 10% of the family monthly income. A contractual savings plan would instill discipline in savings for the children’s education fees.

 

The unique feature of an education fund as compared to an endowment plan for each child is that the 10% of family income set aside by both parents on a monthly basis is the best both parents could afford. No child would be biased by the amount of the endowment that he/she has since the education fund is set up for the sole purpose of education funding for all children.

 

Answers are contributed by Mr Paul See, Principal Consultant of Priority Wealth Pte Ltd. Please email events@prioritywealth.com.sg for more information.

 

 
If your precious tot is between 12- to 36-months (in July 2017), send in his/her photo and your little one could be an ILC Little STAR!

 

 

Quiz of the month

Snippet of the day

How do we go about setting up a general education fund for children without tying down the insurance plan to any specific child?

Further elaboration of the response in Financial Special 01, a contractual investment program could be started with monthly investment amount equivalent to 10% of the family monthly income. A contractual savings plan would instill discipline in savings for the children’s education fees.

 

The unique feature of an education fund as compared to an endowment plan for each child is that the 10% of family income set aside by both parents on a monthly basis is the best both parents could afford. No child would be biased by the amount of the endowment that he/she has since the education fund is set up for the sole purpose of education funding for all children.

 

Answers are contributed by Mr Paul See, Principal Consultant of Priority Wealth Pte Ltd. Please email events@prioritywealth.com.sg for more information.

 

 

Quiz of the month

If your precious tot is between 12- to 36-months (in July 2017), send in his/her photo and your little one could be an ILC Little STAR!

 

 

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