Failure to plan for overseas studies can deplete retirement savings of S’pore parents by 30%: HSBC

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Financial experts stress the importance of teaching children early about financial planning.

SINGAPORE – Sending a child overseas for an education could wipe out as much as 30 per cent of parents’ retirement savings, so careful planning is needed, noted a new study by HSBC.

It found that a three- or four-year degree programme in popular overseas study destinations like Britain, the United States, Australia and Canada can cost between US$192,000 (S$260,000) and US$256,000.

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Article Details

Category: EconomyBusiness

Markets: SingaporeAustraliaCanadaUnited States

Topics: Cost Four-year Hsbc Canada Popular Degree Us$192 Destinations Programme Australia Study

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-06-30 @ 05:00:00 (2 days ago)

News Timezone: GMT +8:00

News Source URL: straitstimes.com

Language: English

Article Length: 197 words

Reading Time: 2 minutes read

Sentences: 11 lines

Sentence Length: 18 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Straits Times

News ID: 21421341

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