Saving up for that special event….
Private Education, University, Wedding(s) or the Deposit for a house…

Over the last few months I have seen an increase in the number of people wanting to talk to me about saving for future events, such as University, Private Education, Weddings, and Deposits for houses etc.
Everyone knows that events like this cost more now that ever, but what has become apparent is that many people are not usually expecting only one of these events, in some cases they can expect two or even three of these events to occur, and when we started to dig deeper the costs just spiral.

Let’s take private education and university for example, if we assume a young family with two children are looking to send their children to private school and then on to University; they could require literally hundreds of thousands of pounds over what in reality is a relatively short period of time.

That may sound crazy, but one such example involved a family wanting to send two children to Private School from the age of 8 and then onto University, and the fees alone, not including accommodation, food, or inflation amounted to over £200,000.00, and that was a conservative estimate.

Obviously not everyone wants to send their kids to private school, and I know that in some cases people hope to be able to fund school fees from earned income, but not everyone can afford to do that, and therefore planning ahead is essential.

The question now is what you can do about it, there is absolutely no doubt that the sooner you prepare for it the better, and we can advise on a number of solutions to prepare for these events. It is most likely that more than one solution will be required depending on how soon the first instalment will be required for example, or your attitude to investment risk.

Also don’t forget, in a lot of cases it isn’t just Mum and Dad that have to save for this, very often grand parents are keen to help out! If you would like to discuss this in more depth, then please do not hesitate to contact us and we can talk through you individual circumstances