“Education is the key to unlocking the world, a passport to freedom” – Oprah Winfrey.

As a parent its natural for us to be aspirational and concerned about our child’s education.

No doubt it’s one of the best gifts we can give to our kids. A strong education lays a solid foundation for a successful career and ensures a better life ahead for you child. Cost of education is already skyrocketing today and hence one thing that you need to be take care of is the steady and continuous increase in cost it will witness in the foreseeable future.

A Tier-I MBA degree that costed anywhere between 12-18 lakhs just 5 years back, now costs close to 35-40 Lakhs. Similarly, the cost of becoming an Airline Pilot in today’s market can land you anywhere between 80 lakhs - 1 Crore which costed 30-45 lakhs a mere 4-5 years back. An increment of over 100% in under half a decade. These figures will rise by 1.5X to 2X if you are looking at a similar education from foreign countries.

Do pay attention to the fact that the increment in the above cost is much rapid then the growth of your income or any other traditional fixed income investment option like a Fixed Deposit (returns ranges between 5%-7%).

Trust us, being aspirational and concerned about your child’s education is just the starting point. 8 out of 10 parents have no active guidance or financial plan in place to fulfill such dreams. That said you not only need a financial plan but a customized financial plan. One that suits future goals and plans for your child’s education.

Meeting your goal of providing your child the future that he or she deserves requires early and intricate planning, dedicated devotion to the goal and taking calculated risks to generate returns that will help finance their needs when the time comes.

At Simplifin.ai we are committed to be your mentor, guide, and a partner in your journey towards building a sound education plan for your child in just3 steps.