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?

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This is a very tough question and a very tough situation that I think most Singaporeans are in at the moment. Cost of living in Singapore is extremely high and that includes the basic day to day items. Children’s education is a priority and I don’t deny that. We are paying 2+k per quarter on just tuition. And we have 1 kid and he attends 2 subjects tuition at 1x weekly. I think at the end of the day, it is a balance and clever planning On how to be able to give proper education without the fancy frills. Not all TOP education or enrichment centers are best Nor it is a situation of giving my kid what the neighbours kids have. It’s about priority and budgeting and how much we have as a family and then see what’s affordable. Yet not sacrificing our own savings when we get older and kids are now fully grown up. I don’t want to rely on my Son when he has a full life to love for himself in future and I also want my own independence.

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