I had a conversation with one of my colleague. He was sharing with me that, since he just got his flat, he saw his CPF wiped out such that, only a meagre amount was left. I thought that must have been rather demoralising but I am glad that he actually thought of the well being of his future child and that he needs to save for it. The blue print answer here I would give is

• Move to a new job that pays you better
• Over-deliver at your work, get more promotion so that you have more income cash flow to save for it
• Cut your expenses! Find places where you can cut. Cut here cut there!

Of course those are good tried and tested suggestions.

How much do we need by the way?

If we are talking about $8000 per year for 2 semester (2010 is around $6300 ......