i feel the best method to generate more income is through this method.

1) Save as much in the FD or SSPN.
2) When your child reach 15 years old above to 16 years old, i will teach him business. get him to start small business progressively. Start with Lemonade business. Feel the failure in life and success in life with small investment of RM 2K given to him/her.

3) 17-19 year old. New Business Plan . Investment of RM 5K given to him . Check his progress and see if he can manage his goal.

4) 20-22 years old . this is the time for self discovery. Invest 10K in his hobby and find out his career path. If he can makes the money from his career path, he can fight hard to get the education loan or work part time to reach his goal.

5) 23 - 28 years Should be the best time in the University.

I feel that many students fail to realize their dream and most go into college studying something they dont like. I think starting them older is better and they should be able to value their money and career more.

Really make no sense to save all the money and wasted on your child education when most typical malaysian were mostly preparing the child to enter the university but not letting your bird to explore their real food.

This is probably the best i can think of.
We can save as much as we want but I feel your Child's Desire to turn something into money is more valuable than anything. Teach them about value and burning desire to love Money.

I seen some parent already let their child start their car workshop and modification... they learned through their passion in race car. Now they are CEOs of their own car workshop and even accessories catering to luxurios car.

The money we save also takes years to accumulate than their passion work.

education may not cost a single money at all if your kids can harness his talent and skill deep down in him.

life is not just about career and eduation.

Please watch this movie " Up in the Air". Many employees just work 20-30 years and still stuck with the job security and promises.

just let your child cruise along with his life , he could be the best in sports or anything that shake him up early as 6am in the morning.

for me long term education is not even possible , looking at the current salary scale and credit card debts, loans etc.

i don't why so many bankers don't listen and open up their mind.

They keep going after the average and middle income earners who are now living in debt mostly. Pls be more realistic lah. Now how many of you got good bonus at the end of the year. What did u do with the bonus at the end of the year.

Children education fees is not even the future stuff. its now.

Bankers , give me RM 300K now and i repay back slowly till i die. Can they do that?

which is the best saving where as a child can withdraw the money out with ease in case the parent met with an accident. we are looking at the best method where the aunt or uncle could assist our child to draw the money out for his education .

This post has been edited by hackwire: Oct 10 2011, 11:43 AM