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Did tuition as a kid help you become rich when you become adult?

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Old 07-09-2019, 07:54 PM   #1
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Did tuition as a kid help you become rich when you become adult?

Singapore parents spend $1.4b on tuition for their kids last year.

THis, being a money forum, is the best place to ask this question. Did tuition during your childhood help you become rich as an adult? Without tuition, do you think your present level of wealth will be affected? Good to know the answers to gauge the returns on tuition expense. Is it dumb money expense?

If you happen to be a tuition teacher, please state your bias.

https://www.straitstimes.com/singapo...rents-fork-out

Last edited by klarklar; 07-09-2019 at 08:04 PM..
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Old 07-09-2019, 08:40 PM   #2
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Rich as in Bill Gates-esque rich?
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Old 07-09-2019, 08:45 PM   #3
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One data point coming....

Did tuition during your childhood help you become rich as an adult?
Childhood, no. Young adulthood, yes. Broad exposure to a variety of pursuits and opportunities throughout life, yes.

Is it dumb money expense?
Not always. For those with learning disabilities some specialist attention, such as speech therapy, can be wonderful. As another example, I think there’s some merit in language instruction when the schools aren’t covering a particular language well enough (or at all). If you or your spouse speaks a different language natively than what’s taught in school, it might make sense to have some extra classes in that language.
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Old 08-09-2019, 12:08 AM   #4
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Did tuition during your childhood help you become rich as an adult?

Without tuition, do you think your present level of wealth will be affected?

Is it dumb money expense?

1) no.

2) i was sort of a late developer, so if i had not kinda waste my parents money during my secondary sch yrs, it could be a potential fund for my uni fees.
so end up paying all my uni fees on my own.

3) it was sunk costs for my parents...and only leads to me paying more allowance.
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Old 08-09-2019, 07:25 AM   #5
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You may wish to read up on Michael Spence’s signalling model, which he described in the early 1970s. Basically the idea is that the education itself has limited (or even zero) direct value, but the social interactions, networking, and “signalling” to prospective associates, such as employers, helps differentiate individuals. Sending your child to a Saturday math class is roughly equivalent to a golf club membership, according to this theory.
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