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'Start saving early' says expert

Posted on 25th June 2008

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Parents should begin saving for their child's independent education as soon as they are born, according to an expert.

Speaking to Reuters, head of research at independent financial adviser Lighthouse Group Andy Gadd advised parents not to leave considerations about funding too late.

He noted that they will be able to save for around ten years before their child begins secondary school, giving them a good nest egg if they plan to send them to private school.

While also noting that investing in equities over the medium to long-term would be a good idea, he advised that parents should ensure they balance their risks, recommending that at least two years' school fees should be held back as a "safety net" in case of financial problems.

These views were echoed by adviser at Rowan & Co Tim Cockerill when speaking to the Daily Mail earlier this month.
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