Asked by Anonymous
Asked on 23 May 2019
Top Contributor (Dec)
I'll save 5% of my income for their future education needs. I'll have a portion of variable return and guaranteed return.
It's important to also make sure parents are sufficiently insured, kids also should consider getting some early Critical illness cover.
Abuse all Govt initiatives like the CDA as well.
Track your expenses, set up emergency funds and pay off existing debts. Consider some financial plans meant to help accumulate wealth for your children's education.
Another priority is to also do your Will now that you have your own family. You are able to provide for a testamentary guardian for your children to account for unforeseen circumstances. Additionally, should you have aged parents you give a monthly allowance to, you may choose to indicate in your Will as well to support them financially.