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?

Joanna Tan

mom of 2

19 Replies

Write a reply

Cost of education in Singapore is indeed expensive. Have you thought about how much you want to spend on education per month? For myself I have budgeted $1,000 per month for my kids education each. Before primary school it is tough to fit in the Budget. Post primary school it’s much easier as school fees are less than $50 per month. My kids are 5 and 3. I send them to government linked preschool and after working mums subsidy it’s about $600 a month. Remainder $800 is used for - Swimming classes ($220 for both kids) - piano class at home ($300 for both kids) - Chinese tutor ($200 for both kids) - cc arts class ($80 for both kids) For savings - I make use of fixed deposits, CPF investments and I bought a property in the city centre of KL ($400k SGD), where I get decent rental yield. It’s also my back up to retire if Singapore gets too expensive

18 Replies

Home Random Talk like most parents children education priority i know how expensive with i worried own retirement that i not have saved enough i dont expect kids look after financially i dont wish burden them thoughts how should i go about planning retirement yet supporting kids education best ability