Education Costs Unknown
Planning ahead for your kid's education isn’t just smart. It’s essential
Most parents I work with want to give their kids options. Whether it's for primary school, high school, or uni.
But between rising costs and a lack of time, education planning often gets pushed aside
Here’s how I help families get started without overcomplicating things
𝐄𝐝𝐮𝐜𝐚𝐭𝐢𝐨𝐧 𝐛𝐨𝐧𝐝𝐬
An underrated option. Designed specifically for education expenses and come with built-in tax advantages.
You invest and if the money is used for things like school fees, laptops, textbooks or even overseas study, you get part of the tax back. Great for grandparents who want to help too
𝐓𝐫𝐮𝐬𝐭𝐬
Useful if you’re looking for more control especially with larger sums or help from extended family.
A family trust can invest and distribute income for future education costs. Just be mindful of the tax rules for minors. It’s not as simple as setting and forgetting
𝐈𝐧𝐯𝐞𝐬𝐭𝐦𝐞𝐧𝐭 𝐩𝐨𝐫𝐭𝐟𝐨𝐥𝐢𝐨𝐬
Set up a regular investment account in your name, joint names, or a trust and start contributing monthly.
Choose a mix of assets that match your time frame. This gives you flexibility but remember the earnings are taxed at your marginal tax rate unless structured properly
𝐎𝐟𝐟𝐬𝐞𝐭 𝐚𝐜𝐜𝐨𝐮𝐧𝐭𝐬
If you’ve got a mortgage this is a low risk way to save without creating a separate account. It reduces your interest bill and keeps the money accessible for when school fees hit
𝐒𝐚𝐯𝐢𝐧𝐠𝐬 𝐚𝐜𝐜𝐨𝐮𝐧𝐭𝐬
Still have a place. Good for short-term needs or when you want cash available. But returns are low and tax applies at your full marginal rate
The earlier you start the less pressure there is later.
Even $200 a month, added consistently can build a strong foundation over 10 to 15 years
It’s not about finding the perfect product. It’s about setting up something now that gives you options later
𝐎𝐫 𝐚 𝐜𝐨𝐦𝐛𝐢𝐧𝐚𝐭𝐢𝐨𝐧 𝐨𝐟 𝐚 𝐟𝐞𝐰
Sometimes the school fees need to be paid over a decade plus with a few kids so a few strategies may make sense.
Some of these options will make no sense for you so I would suggest getting some personal advice if considering doing any of these.
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