should u dip into your retirement portfolio to pay for your children’s education?

what about their marriage expenses?

 

these are my views

http://economictimes.indiatimes.com/wealth/savings-centre/analysis/et-wealth-why-you-should-not-dip-into-your-retirement-corpus-to-fund-your-childs-higher-education/articleshow/45921975.cms

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  1. Awesome facts shared sir. I can see now my parents as they are completely depending on me, although they are getting pension. They spend everything for our (me and my sister) study, marriage. When I look back I feel there were lot of scope to reduce costs on those occasions.

    Our social structure is one of the big reason behind this mentality. Now I am father of 4 year old kid and I know that I am also following the same path. But as I am fortunate enough to read these facts I will try my level best to pass this thoughts to next generation and encourage them to be more independent.

  2. I feel we should move away from the practice of spending lacs of rupees on wedding rituals/ expenses. Instead, have a simple wedding in a temple and host a reception. I hope the trend changes soon before I am expected to spend 🙂

  3. Great now Subramoney.com is a compoany and our dear Subramanyam Sir is CEO. Congratulations Sir.

    Apart from this very tough subject as the neighbours, friends, relatives all bring pressure on the parents to send such huge amount on thier childern education.

    At times, if partents see someone from family members or known persons goes to heigher education they too want to send their child.

    I too gone through the same. When my friend went for BBM with one of the most reputated colleges in Country for Rs. 4 Lacs per Annum in 2003, I too want to go there, my parents were very clear that they cannot afford and gave me oppourtunity to go for CA. Today I am satisfied looking at my firend. Now I understood CA is far better than BBA at good instutitue. Thanks to my mentor and Articles Prinicpal Auditor.

    So I feel the parents should be clear with their children they cannot afford.

    As Already told by Subra sir, the be successful in life one has to learn two powerful words – “Compunding” & “NO”

  4. i concur with a view that parents should not fund children marriage by cutting retirement corpus , and strict no no to extravagant marriages in any case. but for education , one should decide on individual case to case basis. i have seen in my extended family that who spent even with debts/other’s help for children education, particularly higher education, have been rewarded handsomely by having their children well settled and they are also living reasonably happy retired life, whereas myself is having feeling gilt for diverting my child to non expending studies and so, perhaps not so good career. of course one must choose education loan , if feasible. but do not be selfish!

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