Received a question today for a 54 years old male with two kids at 13 and 17 for education plan.
Even so to speak that it is never too late to start or start late better than never start. However, I find it challenging to help a 54 years old guy for financial planning.
Assume he is high-income earner and already have some plan started years ago - now I am going to help him to enhance his overall financial health.
But, if he is not ready yet and wants to do it now (or decided to start now) - chances are he can't retire or his children can't get fund from him to further study. May be education loan from PTPTN may be an option.
Therefore, I concur with all the experts that financial planning must be started as early as possible - the best is from childhood. Yes, a child do not earn money but he or she can learn the principle of money and the benefits of saving.