On a more positive note, if I had money to spare this is what I'd do:
i) spend substantial sums on an interesting and educational home environment - this would include books and trips to the theatre for me and interesting outings for dhas well as quality children's books and toys. If I had an instrument I would play it, if I had an outside hobby I would cultivate it.
I would be working on the assumption that a household where everybody enjoyed learning would be likely to provide the best intellectual environment.
ii) look round for a generally all-round excellent primary school.
I would not primarily be thinking about private or state here: I would look at individual schools. The school I would hope to find would be well run by a head I trusted, the discipline would be good without being stifling, the children would look as if they genuinely enjoyed learning and enjoyed being busy, the school would be good at communicating with parents and their pastoral care system would be thought-out and practical.
iii) introduce dc to a range of possible hobbies and interests to stimulate their minds and stretch them sideways.
I would set particular store by activities that require a certain amount of discipline- such as learning an instrument or ballet dancing or studying a foreign language- but which also have a social and/or imaginative aspect. I would make sure there was enough on offer to let dc find something s/he enjoyed as an individual.
iv) keep money aside in case dc eventually showed a specific or unusual talent beyond what the school could supply.
To be able to say at a later date, "yes I can see that you need to work at a much higher level and the money's there for that: you can have lessons from the maestro or the Olympic coach or whatever"; "yes, you can spend the summer in a Russian family to become really fluent in Russian", "yes you can take part in the residential biology course".
v) make interesting trips and outings as a family
Shared memories and active holidays can be a great way of encouraging learning.
vi) when it came to secondaries/Sixth form I would discuss the choice very clearly with the dc and make sure our choice answered to their dreams and interests as well as my natural desire for overall academic quality.
No, dc, you can't decide all on your own to go to lax-standard school because you like their uniform, but equally I can't decide all on my own that you are not to go to the school with the extended science programme because I have already decided you are going to study economics.
vii) keep money aside for educational travel/interviews/auditions/summer programmes/unusual work experience/university visits etc at secondary/Sixth Form level.
This, I find, is where it becomes both expensive and important.
viii) I would then ideally have a substantial sum of money to help them start in the world, but I would be very flexible about how it is spent.
One dc might need help with paying for university accommodation/books/food, another dc might decide to start a business (two close relatives of mine have done this instead of going to uni and have both been very successful), a third may need to travel to perfect skills before uni, a fourth may need a deposit on a flat, a fifth may need private education that comes more expensive than even university.