University Planning
What is one of the best ways to give your child a good start in life?
We believe it’s by providing them with a good quality education.
Higher education costs are rising regularly which is why it’s important to plan and start early.
The Cost of university
Average US university fees, 2018/19
Tuition + fees $35,830
Room + board $12,680
Books + supplies $1,240
Other expenses (including transportation) $2,750
Total (per annum) $52,500
Students who attended US universities in 2018/19 paid on average more than $52,500 for their first year alone. Looking at a 4-year undergraduate course, you would be looking at $210,000.
Ten years from now, this same example would cost $350,000. Based on 5% compounded increase in costs each year.
That’s why firstly it is important to be saving regularly for this goal.
Secondly above all your money needs to be growing each year and match expected increases in costs.
How we can help you
During the fact finding process our team can clarify how much you would need for this goal.
Afterwards we can then help structure a plan that will meet your required goal.
While those figures above can seem concerning at first glance nevertheless, we are here to help.
With a dedicated advisor by your side, we can outline clear plans that get you every step of the way.
Basically, the key with this type of goal is without doubt starting early.
The power of compound interest will obviously do much work for you.
To build up a pot of money over 10 years with 8% growth would only save $2125 per month.
Certainly, when you start working on your goals early, anything is possible.
Helping your child build the foundations of success is one the best gifts any parent can give in life.
Don’t waste any time and contact our team for help today.