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Joanna Tan, Singapore

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mom of 2

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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?

I think you should start at being very clear of which your top most priority is. For us, we want assure that we can provide our son with the best that we can. Having said that, my husband and I did decide on the allocations of our income and savings prior to having a child. If you didn’t do that, don’t think it’s too late for you. What you can do is analyse your finances and then decide on the allocations based on importance.

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