Investment For Your Child Education Plannning

All parents want to give the best to our children. This includes providing them with the right education. We want them go as higher as they can, starting from kindergarten to university college. Why? Because, Education is the key to unlock the golden door of freedom - George Washington Carver.

Child Education Planning is very important. The amount of how much we want to save is depend on our financial budget. Doesn't matter small or big amount but the awareness of planning does it matter.

Prepare for your child's future education as below:

1. Determine your child's future education costs
2. Calculate how much you need to save (Contact Unit Trust Consultant on how to estimate the cost)
3. Take action Today! (Important Part)

How much would you need to save a month to have RM66,792 in 17 years? Let compounding interest does its magic:

You may choose any option based on your goal and your financial budget. 

5 Tips for Parent:

1. Start Early - the earlier you start, the less you have to fork out  a month for the investment. The longer your investment is, the bigger the result you will yield.
2. Review your investment from time to time - it is a common to diversify your investment to spread the risk.
3. The magic of compound interest - TIME play a big role here. If you start your investment at age 26 years, saving RM10,000 a year at 9% per annum will yield more than RM1 million (RM1,320,149) by the time you are 55 years old. How ever if you start at age 36 years, you will only earn RM557,645 at age 55. 
4. Get professional help - don't be afraid to engaged with a certified financial planner or consultant to advise you on your investment. They can assist you with the strategy that would achieved your financial goal.
5. Leverage on the tax relief's - saving for child's education is lauded by government. You would be able to enjoy up to RM3,000 in tax relief. 

By planning ahead, you will be well prepared by the time that first college fee is due and it never hurts to start investing early.

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