As parents in this ever-shrinking world, one thing’s for sure; gone are the days of dropping the kids off at the local train station and waving them off en route to the local university, only to see them return the following weekend with a bag full of laundry and a ravenous appetite.
In these times of international schools and international outlooks you must prepare for the reality of global education. For your children, it’s wondrous and the opportunities are boundless. The modern day student is an open-minded risk taker, the principled inquirer, ready for anything and ready for anywhere. No longer are they choosing which course, but which country.
International-mindedness is a blessing, but it comes at a price. There’s no doubt it’s money well spent, who wouldn’t want their child travelling the world, immersing themselves in a heady cocktail of culture and education, trampling down barriers and opening up a world they will help run one day?
Preparation is the key and the best approach to managing your child’s education is to work with your Wealth Manager to create a bespoke plan for you and your family. Make sure it factors in your objectives, your budgets and your time frames. Below, is a range of costs and the differences in saving requirements, based on the timescales you have left before your child commences higher education.
International university fees for a 4-year course
Monthly savings required, based on a 5% growth rate
Speak to and AAM Advisory Wealth Manager
All parents want to give their children the best opportunities. It’s never too early to start thinking about how to make that happen. Contact an AAM Advisory Wealth Manager to discuss your investment goals to help fund your children’s education.
- Exchange rates used as of the 14/08/2020: S$1 = 0.7290US$, 0.5579GBP, and 1.0183 AUS$
- Australian university fees are based on University of Western Australia
- Singapore university fees are based on Singapore Management University
- United Kingdom university fees are based on Kings College London
- United States university fees are based on Colombia University
- The above figures assume a rate of inflation at 5% p.a.
- The rate of returns are for illustration purpose only and not guaranteed.
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