My wife will be giving birth soon · Invest & Retire Community

My wife will be giving birth soon

My wife will be giving birth soon. So I will be slower in terms of responding in the community.

As we welcome a new member into our family, it is good to consider the plan for the next 20 years, especially university tuition.

I expect the tuition cost will increase by at least 2-10x in the next 20 years (due to inflation and competition).

This is why I plan to invest early when the child is between 0-5 to cover the university tuition when the child is 18.

Based on my calculation, if I can put away $10,000 per year for the first 5 years of the child's life, it will take care of the university education and housing cost in the future using my long-term strategy.

For such long-term strategy, you want to ensure it is a set-and-forget strategy.

You want to ensure that the long-term average return meets your expectations (For example - I aim for 15-30% per year)

While timing helps, it is more important you have the discipline to contribute early on and let compound interest work for you.

Are you thinking ahead for your children's future?

Cheers,

Eric

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Eric Seto

Chartered Professional Accountant (CPA)

Chartered Investment Manager (CIM)

Founder of 5MinInvesting.com

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