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Trusted education fees planning for Cayman residents

As education fees around the world continue to rise, early preparation and careful financial planning are becoming a necessity.

Education Planning in Cayman

Trusted education fee planning

As education fees around the world continue to rise, early preparation and careful financial planning are becoming a necessity.

Common education-planning challenges faced by our clients

School fees are as regular as each term, session, or semester, so leaving funding education costs to when they actually occur feels like a huge burden and for many not affordable. The most recurrent problems our clients highlight where education planning is involved include:

How much do I need to save for my children’s education?

This will depend on where you where you would like your children to study and for how long. When you speak to PROVEN about your individual circumstances and plans for your children’s or grandchildren’s education, we will help you establish a figure that’s right for you.

Can I save for education fees monthly?

We will provide you with a comprehensive, bespoke education savings plan created to suit your individual circumstances, these can be funded monthly, quarterly bi-annually or annually. We can offer a wide range of savings opportunities including investments and savings accounts based on your needs for your children and timeframe.

Can I make any changes to my education savings plan?

The education savings plans we offer have flexibility to adapt to your circumstances and as part of our service we offer regular reviews to ensure you’re still getting the best from your savings plan.

Our approach to education planning

There are four steps to our education planning process.

Getting to know you

To ensure we provide the best advice possible, we will need to learn about you and your family. At this stage, you should provide us with details of your current lifestyle, your financial situation, details of the education fees you expect to pay, and any concerns you may have. If you do not know this we can work it out with you.

Recommending a plan of action

Once we’ve learned more about you, we’ll use our knowledge of savings and investments to present you with the best education savings plans for your circumstances and go through all the details with you.

Implement your plan

We’ll then recommend a personalized retirement strategy and create your personal retirement plan. This often includes details on how to improve your financial lifestyle while saving and how best to manage your money during your working life.

Ongoing reviews

As part of our service we offer regular reviews to ensure your plan is aligned with your circumstances and is on target to reach your goals. Our experts are on hand every step of the way.

A Well known author Alan Lakein once said

“Planning is bringing the future into the present so that you can do something about it now.”

FAQs

What’s the best way for me to save for my children’s education?

When it comes to education fees, the best way is to start saving as soon as possible. We will help you explore your current finances and create a tailored savings plan that will secure your children’s future.

How will I know whether I’m saving enough?

As part of our education planning service, we will assess your plans for your children’s or grandchildren’s future and help calculate the total cost, so that you will know if you are saving enough to cover their fees.

Do I need to know anything about financial markets or investing?

No, our knowledgeable experts have years’ of experience working with investments and financial markets. We can tell you all you need to know, so you can concentrate on what matters.

Is there a fee for our initial meeting?

No, our initial meeting is complimentary.

How much money do I need to start?

Our minimum education fees savings plans start from USD $300 pm, but the level of investment required to meet your goals will vary depending on the education requirements

What happens if I choose to leave Cayman?

All of our savings plans are portable, so you don’t need to worry if you wish to leave Cayman.

Which currencies can I invest?

You can invest in US dollars (USD), euros (EUR), and Pound Sterling (GBP).

Will I get regular updates on how my savings plan is performing?

We monitor your savings plan and provide regular updates to let you know how it is progressing. We’ll also make recommendations as and when required throughout you journey.