Children’s Education: Get The Advantages that Only a Few Parents are Reaping
If scoring a goal in a game of football would determine whether or not, you would have enough money to send your child to university, would you prefer to play the game blindfolded or not? Immediately, Karen erupted with “I would want to see so I could angle my body correctly, plus have an expert to help me to score that goal.” “So why are you saving towards your children’s education blindfolded Karen?” I asked.
Many of us unknowingly, approach saving for our child’s education like playing a game of football blindfolded. The truth is, if your education plan does not empower you with information on the future cost of university (tuition and other expenses), the required monthly investment and the most appropriate investments to assist you to finance your child’s university education; you are investing blindly and that has its risks. The good news is the JMMB Graduate can help you to do just that.
Why the JMMB Graduate is Your Best Option
JMMB has researched the average cost of university education in Jamaica and in the USA; making it easy for us to guide you toward investing towards your child’s university fees. Simply tell us the age of your child and the number of years before he/she starts university and we can give you an estimate of your future costs. Additionally, we will help you to calculate the amount you need to invest each month and create your own JMMB Graduate plan, tailored to you and your needs.
From May 2018 to May 2019, dependent your risk tolerance, parents like you, enjoyed rates of return of between 8.58% to 14.85% on their JMMB Graduate plan. Transform your financial life in several ways with the JMMB Graduate by:
• Enjoying greater financial empowerment, since you can determine whether you need to make financial changes now while time is on your side, such as increasing your monthly investments, by spending less on lunch.
• Reducing the risk of using retirement savings to finance your child’s education instead.
• Lessen the likelihood of taking a loan. A loan results in you paying more out of pocket. Remember you would need to repay principal (the education costs) plus interest.
How many years do you have before sending your child to university? Do you know what the tuition will be when you are ready? Have you already calculated the cost for tuition then? Below are the projections for the cost of education, inclusive of tuition fees and other related and other costs.
.jpg)
You will notice how much less you would need to invest monthly if you chose the JMMB Graduate investment plan. Even better, look at the considerable returns that the JMMB Graduate can give you towards university costs. The sooner you start the more you will receive. Start planning for your child’s university education today with J$50,000.
So, would you like to invest in a way that significantly increases your chance of affording your child/ren’s education? If yes, please give us a call (876)998-5662 to start your JMMB Graduate today. This will certainly beat investing blindly.
*Based on average compounded return on J$ fixed deposit accounts.
**Based on JMMB Graduate return, with a conservative risk appetite.
Written by: Michelle Sinclair-Doyley, manager, client financial education