If you want to make a big fund for the future of your child, then you must keep some things in mind. Before investing money anywhere, one should think carefully and take the help of a financial advisor before starting investment.
New Delhi. Today everyone is worried about the future of their children. In this era of inflation, today a lot is spent on the upbringing of children to education and marriage. That’s why everyone wants to have a lot of money in the future to meet the necessary expenses of the children. For this, parents invest in many schemes. But, it is often seen that not every parent is able to collect enough funds for the needs of their children.
The reason for this is not taking care of the basics of investment. If the investment is not made at the right time and place, then you will not get the return as you have imagined. That is why it is important that whenever you invest keeping in mind the future of your child, do it very carefully. Let us know what things you should keep in mind while investing for the future of your children.
Quick investment
Due to rising inflation, even the basic necessities of the child like education have become very expensive. Nowadays too much money is spent on marriage. The sooner you plan and invest for the future of your children, the more benefit you will get. If you start investing soon after the birth of the child, you will accumulate a lot of corpus by the time your child turns 18.
Right place investment
While planning about the future of your child, it is also important that you invest in the right place. There are many schemes in the market including Sukanya Samriddhi Yojana (SSY), Monthly Income Scheme of Post Office, Jeevan Tarun Plan of LIC, Child Insurance Plan and Mutual Fund, by investing in which you can secure your child’s future. . Considering the returns and time horizon, equity mutual funds can be a good option.
Financial discipline required
To make a big fund for the child, you have to adopt financial discipline in any case. This is not a short term investment. For this a good planning and continuous work is needed. Whatever investment plan you invest in, keep in mind that it should be continuous.
Diversity in Portfolio
It is important to have diversification in the portfolio. Even if there is a low return from one investment or savings scheme, it can be compensated by investments made elsewhere. Dividing your investments into different asset classes gives balance to your portfolio. Along with children, one should also invest for their own future. You must have at least insurance.
