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Monday, March 27, 2006

Save for your child's education

The cost of university education can be quite high. The average cost is:

Singapore $40,000
Australia $160,000
USA $280,000

The cost is expected to increase in future years.

Are you saving for your child's education?

If you save $300 a month over 16 years, the total savings with interest will be:

2% per annum: $68,000
6% per annum: $95,000

You can get 40% more, if you can invest in a plan that gives you a higher return, and risk reduced through diversification.

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