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

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It’s a tricky situation as education is getting more expensive. However, the good thing is that most of our education is subsidised to a certain extent. Even so, you will still have to save money for retirement. Do a Long into your current monthly Budget to decide if anything you’re spending on can be decreased and be used for savings instead. With that portion decided, you can use that for potential savings for your kids’ education instead.

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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