Education Fee Planning Services
How important is your childrens future?
A first-class education is one of the most valuable gifts that parents or grandparents can give to children. Whilst this may well be one of the most valuable gifts it is also one of the biggest financial commitments a family can make. Costs are substantial and have tended to rise way above inflation; education fees on average are rising between 5-7% per annum. The cost for private school in Canada is between $6,000.00 to $12,000.00 per annum depending on where the school is located and whether you are boarding or not.
So how much do you need to save?
If you were to take a well-placed Canadian school with a per annum fee of $10,000 and assume inflation of 5% per annum, then the total cost over 14 years of sending one child to junior from age 4 and senior school up until 18, not including university is almost $280,000 (or $277,190 to be exact!).
The good news is that inflation over the years of education plays a major part in creating that daunting total of about $280,000 to fund your child's or grandchild's education. So the cost in today's money is substantially lower. So planning today whilst you still have time on your side will significantly lower the financial burden of education fees.
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- Optimised portfolio for growth, income or protection
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- Find the most cost effective solution
Added Value with The Baumann Group
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