(The author is a financial planning coach, founder and CEO of Money Avenues, a Wealth Management firm based in Chennai. Mail him at: finplancoach@gmail.com)
In a rather peculiar and bizarre incident, a distressed dad in the US put his precious collection of 19 Rolex watches on eBay for auction.......
http://www.hodinkee.com/blog/2011/6/7/man-lists-19-rolexes-on-ebay-in-hopes-of-sending-child-to-co.html
The reason:
To fund his son's college education at UCLA (Univ of California, LA) ............
When there are other better ways to fund children education, why do things which are distress in nature. One such tool is to make a children education plan right now when the child is relatively young; and that can be definitely handy when they get ready for their education. After all, inflation is galloping on every side of the economy. Education cost will not be an exception to this.
In our estimates
- A professional education which may cost Rs 7.5 lacs now, will cost about Rs 61 lacs after 15 years.
- Overseas education which may cost Rs 15 lacs now, might cost about Rs 1.23 Crores after 15 years.
Talk to experts @ Money Avenues to know and make perfect children future plans.....
(The author is a financial planning coach, founder and CEO of Money Avenues, a Wealth Management firm based in Chennai. Mail him at: finplancoach@gmail.com)
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