If you start saving for your child’s future education costs the day they are born, you won’t have to come up with large lump sums 18-22 years later. We can look at average college, university, and vocational tuition costs now to determine what they might be with annual increases. We can look at, assuming a moderate return, how much you would need to save each month to hit your target.
There are no guarantees you’ll hit your target, and yet, many families have had money left over for the one son or daughter that wants to go for an MBA or attend a semester abroad. If you do nothing, you’ll have nothing. If you do something, you’ll have something.