It has always been my dream to build an educational fund for my future children as soon as I have them. 🙂 I’m in my mid-20’s, not yet married but it wouldn’t hurt to think about my future children, would it? 🙂
Let us look at the scriptures:
Here for the third time I am ready to come to you. And I will not be a burden, for I seek not what is yours but you. For children are not obligated to save up for their parents, but parents for their children. 2 Corinthians 12:14 (ESV)
A good man leaves an inheritance to his children’s children, but the sinner’s wealth is laid up for the righteous. Proverbs 13:22 (ESV)
It’s a sad reality in the Philippines that parents expect their children to provide for them after college or after getting a job. I know someone who worked hard overseas all her life to provide for her parents. But wait, there’s more! She provides not only for her parents but also for her siblings, her sibling’s spouses and her sibling’s children. All the family and extended family depend on her! 🙁 I don’t know if she’ll ever get married. Whenever I see her, I see sadness in her eyes, It’s like she has a deep longing for something… maybe something for herself this time…Oh well… *long deep sigh
Anyway, I plan to build the educational fund of my future children through investing in the stock market and mutual funds. That’s my preference because I learned a lot about those financial instruments and I like them. There are other financial vehicles that you could use but please make sure that the earnings through interest are higher than the inflation rate (averaging 3 to 5% in the Philippines).
I plan to prepare for the educational fund as soon as I have my future children. In my estimate, it will be 15 years before each of my future children will reach college. That would be an ample time for me to prepare. Furthermore, the financial instruments I choose to use for the fund is swak (best suited) with the time I have (a.k.a. long term investments).
How about you? How do you plan for the educational fund of your children/future children? Please share in the comments section.
P.S. This blog post was inspired by Iris’ Preparing for our son’s retirement. Go check out her blog too. 🙂
P.S.2: Did you find this article helpful? You can share with family and friends, and in your social media accounts. 😀
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