We have two young daughters and are certainly blessed with a multitude of fantastic local state primary schools. By secondary level though, many families choose to make the move across to the independent sector. Many private schools hold open days at this time of year for prospective pupils and parents.
Before diving into the open day frenzy, it is important to ask – “Can we afford it?” .
Other good questions to ask yourself are:
- How much will it really cost? Factor in inflation (potentially 20%+ with a change of government) as well as uniform, transport, school meals and school trips
- How much will I need to save? When do I need to start saving?
- Which products should I choose for the investment?
- Where is a good place to hold the investments?
- Am I neglecting my pension and retirement by focusing on school fees?
- Are my other finances structured efficiently?
All of the above are matters that a financial planner can assist with. We use sophisticated cashflow planning software that can help to map out all future events.
Please feel free to reach out for an obligation-free initial chat to discuss your options.
Andrew Rankin Enquiries — Westminster Wealth Management (westminster-wealth.com)
Note: The value of investments and income from them may go down as well as up and you may not get back the original amount invested.
