30 Dec '11, 9pm

Expecting a baby? Tailor a savings plan early: ... Singapore standards anyway). With close to 20 per cent more b...

As the Chinese Year of the Dragon approaches, our tiny nation can expect a baby boom (by Singapore standards anyway). With close to 20 per cent more babies expected next year than in the decade or so, it is perhaps timely for parents who are planning to have that dragon baby to think about financial planning for your child's future. With rising living, medical and education costs, raising a child requires long-term planning and regular savings. How much does it cost to raise a child? The cost of raising a child in Singapore from infancy to 21 years of age is estimated to be between S$300,000 and S$500,000, depending on the type of lifestyle and activities one chooses to expose one's child to. This figure accounts for the medical fees incurred during pregnancy and delivery, infant care, childcare, enrichment activities, education costs from preschool to university level, ba...

Full article: http://www.todayonline.com/Commentary/EDC111231-0000014/E...

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