like life, it HEAVILY depends..
1. on Gov Uni?
a. cheap lar compared to (2.)

2. on Private Uni/College?
a. If totally local, current cost is about MYR150K+/- for a UK/AU computer science degree
b. If 3+1 or 2+2 etc. - the cost of living overseas is the main pain
c. Ivy league? <faints>

3. on type of degree
a. Engineering & other stuff needing specialized tools?
b. Medical? get ready with at least $500K if without subsidy / scholarship
c. general stuff like biz, computing, accounting, etc.? "cheapest"

I'd suggest:
take the above $ cost, then calculate FUTURE COST = CURRENT COST *(1 +xx%) ^yy
xx% = education inflation expected, eg. 6%pa 8%pa
yy = number of years to uni, eg. kid now 3, thus around 15 years time
using above eg. in Excel, FUTURE COST = 150K * (1+6%)^15
in English, "^" is "power of"

the current costs can easily be found via googling the local campuses & their programmes

My plan for record purposes. I've been on a journey of investing since 2007 when I was 20. I opened my first Super account and I had about 70k then invested in shares and also retirement account.

What I realised is that the longer I do this with increasing net worth, the harder it is to achieve a consistent return of even 8% across my investment due to the various investment products and the need to keep track of them. Not to mention the volatility in the market in the last few years really made me doubt if I can achieve the same consistent return of circa 10% before Trump became president.

At 32yo, my household networth is close to 3M. I have an additional 2 investment properties worth about circa RM900k returning at a consistent rate of 4% (equity of about 150k and the rest loan).

Our current total yearly expenses is about 120k/year and household take home is about 250-300k. Last few years was a lot more but this year I've started to take it easy. I however can reasonably expect this go up to about 500k as the wife is flying high in her career.

I personally do not plan to retire (work until at least 75-80) and at my currently work load, I can easily get 10k/month working 3-4 hours a day.

I have a very conservative expectation on my rate of return at only 5-8%/annum and our household can add an additional savings of at least about 100k a year.

At this rate, at 55yo I can expect a future value networth of about RM15-27M (assuming all invested) but with a present value of only RM7-12M based on inflation rate of 3.5%.

Based on the above at 55yo, my present value monthly active income should be RM10k (day-to-day profession), passive income should be a minimum of RM28k (4% FD rate) + rental income (if any). This excludes any inheritance we may/may not receive, but both our parents are very wealthy with networth more than 10M each.

Based on the above, I can reasonably conclude that we do not have to put any more effort into retirement planning and can pretty much go into cruise control. Of course the above do not take into account the vicissitudes of life. However I've been quite conservative in my income projections so hopefully this sets off any potential unfortunate events. We are also very well protected in terms of insurance coverage (about 2.5M life and TPD coverage each) + medical insurance.

At the current point in time, we are very contented with our modest terrace house and 2 non luxury cars. We only focus on doing my job well, spend moderately and enjoy the company of friends and family.

Those are not a good measurement of HNWI.

With only those as benchmark, we are still staying in a terrace house, driving proton jap cars, and tarpau food at hawker stalls.

I have to say, I never quite planned it in terms of age or salary/net worth. Doctors tend to start much later and start much slower than others in the workforce, but what we do have is longevity and for some, the growth in income can be exponential once a reputation and word of mouth is established.

We did achieve our primary goal, which was to become debt free, by 40 - that wasn't exactly planned either - it was just a milestone we earmarked on our financial journey, but once we achieved that, the financial freedom came quite quickly.

Nevertheless, it's great to see that you've planned it out in detail - good luck on your journey!