Start Planning for Your Children’s Future

When you want to invest money for your children’s future it is true that the sooner you start the less you will need to put away in the long run. If you are an expat, your children will often study overseas, which could mean an increased cost to study.

When choosing an investment option, you should consider your financial goals, the age of your child, your risk tolerance, education cost inflation, and the expenses associated with the investment.

The best way to invest money for your children’s future is to start early and invest regularly in a plan that is as tax efficient as possible. However, it would be best if you never were putting your own financial security at risk.

How much will I need to save for my child(ren) to go to university?

The amount needed depends on your personal situation. However, the earlier you start the less you will need to save each month to get to your target. Your savings plan will be based on the number of years until your children go to university and the amount you can afford. If you are an expat, your plan will need to be flexible in case you move countries. You may also need a plan where you can change currency. When building up the pot, you will want a flexible arrangement where you can add your yearly bonuses in, and also be able to top it up when need be.

What if my or my child(ren)s plan changes?

You will still have full access to use it for your children’s future. In some circumstances, the children have gone to a free University and the parents decided the money would be best spent on putting down a deposit for their children’s first house or buying their first car. If it’s not all used up, you could even put it towards your retirement.