DAN WITH YOUR FINANCIAL PLAN

In a study commissioned by HSBC, 87% of parents around the world are helping to fund their child’s education. At the same time, 82% of all parents ready to make personal sacrifices for their child to succeed. This is hardly surprising in a country like Singapore where there is a high emphasis on quality education to acquire competitive advantage.

In this part of the world, education is seen as a way for parents to ensure their children's success in life and most parents feel the same. 55% of parents in Singapore say funding their children’s education is more important than paying bills and saving for retirement, with 52% of parents willing to go into debt to fund their children’s university education. 

The desire for your children to do well is understandable. To do so at the expense of our long term financial wellness is not. Most parents in Singapore have recognized this eventuality by putting away some savings ahead of time. However, most still rely on their income during their child’s college years to meet the costs. This situation can always be made better.

Let’s think win-win. Let’s create the bright future that we think both ourselves and our children deserve. It is challenging to estimate the full and long-term costs, take action, and then see it through. That’s where I can add value. Let’s us have this conversation today to create that bright future for ourselves and our children.

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