Ahoy. As in all financial decisions, I guess buying an educational plan should not be decided in isolation. Our family budget is a whole and allocating a portion of it for a pre-need plan requires me and my husband to thoroughly understand and accept what such a decision will entail.
Well, I persuade my hubby that compared to stocks or mutual funds, educational plans are less risky because minimum cash benefits are guaranteed. Compared to bank savings deposits for the same amount as the PNP, the educational plan will mostly give better returns. My husband rebut me by saying that he likes the stability and surety of a good old savings bank and do not mind getting lower interest on his deposits.
Up to now we are still deciding on this issue. We are weighing the pros and cons whether our “forced saving” plan suits our disposition and goals or not. With this in mind, we will decide if we should get an educational plan or not.
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