I’ve been thinking about the cost of education in Singapore and would like some advice or feedback.
Like most parents, my children’s education is priority and I also know how expensive it can be. With this, I am also worried of my own retirement - that I would not have saved enough. I also don’t expect my kids to look after me (financially) and I don’t wish to be a burden to them. Any thoughts on this? How should I go about planning my retirement yet supporting my kids’ education to the best of my ability?
![profile icon](https://static.cdntap.com/parenttown-prod/profile_15637872962857.jpg)
Hi Mommy, What I would do is to find ballpark costs of retirement and what my children’s education will cost and work backwards to have a rough idea of what everything will cost me. After that I will start looking for plans that I can invest in or set saving goals.
i havent really given it much thought cos of the everyday craziness of life. but after reading this, i cant help but think and worry about my retirement so i wont be a burden. we need additional source of income to be able to prepare.
Promo terbesar expert care sudah dimulai, diskon hingga Rp.100.000 sedang berlangsung di shopee, ada juga voucher diskon 100% alias gratis bagi bunda yang beruntung. Buruan cek di https://shope.ee/9UfEMMqqTg (id-41275)
Have to balance Work out a % of income and determine what goes to parents, what goes to luxury items like holidays and necessities and enrichment. Invest in insurance? Or a very well protected by savings plan.
Read moreHmmm, I dunno. For me, I’ll budget a % to save up (for myself. Not for kids) and I also get myself covered by insurance so that if anything happen to me, at least I know I won’t be a burden to them.
I completely agree and feel like I am in the same situation. I go about making sure I budget out money for their education as well as actively make an effort to save for my retirement as much as I can.
i think its important to save and invest. and when saving, allocate a portion for yourself too. it's ok if the amount is little, cos over time, the amount can compound.
I have taken endowment policy for kids education but I know it won't be enough to fully cover the kids education. Savings for retirement is really worrying
i want to know too..how to earn more money? everything is so expensive now