Investing for your children's education is priceless and should not be viewed as a punishment. Take a stroll into different high schools accounts offices and you will be shocked just how much school fees is high. Now imagine that same amount ten or five years to come when your son or daughter will be in form one.
I am not in any way trying to scare you but that is the reality now factor in pocket money and other personal effects including uniforms and transport here and there. All in all I am trying to say is that the burden will be great if you don’t take measures now.
So, what is the remedy? It is simple. Invest/save now. Why on earth would you want to struggle now to get money then work extremely hard misusing it? By this I mean you don’t have to struggle strain the whole of your life where as you can plan for that. Take a step now. Save at least 7k for those who can and 3k for those who can’t do 7k monthly for the next 10 years assuming that your little angle will just be joining form one or just completed primary schooling.
Or in the next 10years your son or daughter will be joining a higher institution of learning. Well you all know fees must be paid the only variation is how much individual institutions charge. What I can promise you is that if you start saving now you will be able to educate your people without breaking a sweat.
Let me jog your mind. I personally am a financial advisor and planer with Old Mutial Kenya so it will be only fair if I use that example. Let’s say am saving 10k per month (of which am actually doing because I have a one year old daughter) for 15 years. At 12% projection rate I will get around 1.6million.
This is over and above 345000sh that I will get when my daughter is joining form one, 363000sh when she is in form two, 380000 in form three and about 406000 when in form four. After my policy matures I will get the 1.6m quoted earlier. My friend, with those figures you want to tell me I won’t be able to take my daughter through high school and all the way to university?
Of Couse I will. You don’t have to save 10k if you can’t get that, you can do 7k or 3k monthly only that the final tally will differ depending on your monthly savings.
Did I tell you I also enjoy a 100000 life cover death benefit? Yes, it is in there. I will also enjoy a 10000 premier waiver meaning incase I as the premier payer die, oldmutual will pay for my contributions until the maturity of the policy thus I can rest in peace knowing that my daughter will be educated. You as an individual or couple should decide what you want for your children all I can advise you is to start now, if you love your children. Invest in them.
You can email me for more advice or even call me; my contacts are on fb and tweeter [email protected] and I will take you through how you can secure your children’s education future or 0725331265 you can call/text/whatsapp.