University training is an ideal investment – provided that the next generation is suitable. Only in this case does the financing have to be designed.
IIn the past few weeks I have been explaining that it makes sense to pay off home debts by your 55th birthday. Why? Well, the unencumbered roof over your head is all well and good, but there are other tasks in life that have to be mastered. This includes the education of the children and the development of the supplementary pension, because the statutory provision is usually not sufficient to meet the financial needs in retirement. The information does not seem to have met with the greatest approval. This comes as no surprise to me because it is the order of the day for readers to feel trodden on by my columns. At least the question was asked what the optimal financing of children’s education looks like. It is not easy to answer because it is well known that many roads lead to Rome.
For the safety of my professorial companion from Holstein, I referred the matter to me. As a professor at the University of Stuttgart and the mother of three children, the lady is a specialist in the best sense of the word, so I do not want to withhold her comment from you. She is of the opinion that the best way to finance your studies begins with a sober analysis of whether the son or daughter has the intellectual skills for the university at all. Otherwise the whole investment, which goes into the tens of thousands, is completely for the cat. You didn’t expect that – or did you?