Start Investing For Your Child Today !!
In some cases.
In some cases.. earlier started the better, Like investing money for your child eg in a Child Insurance Plan. The rising costs of education, double digit inflation, increased commodity prices, expensive healthcare, unaffordable housing and the lists of reasons just goes on.If you have already taken a decision to invest for your child, then you are one of the few wise parents who certainly know how to plan for their childs future. This article will help you understand the various options available and the right way to choose the right product.
It all start with wise planning
1. You have a long period available for investing : In any investment, the longer the window available.. the larger is the basket of products to choose from. Remember, some asset classes like equities perform better over a longer period. Therefore, keep your options open
2. You definitely need the money : Important financial goals like education, marriage etc need a definite amount of money so a disciplined approach to investing is a must.
3. The money required is large : Important financial goals require large sums of money. Keep in mind the fact that the period is long and the goal amount needs to be adjusted for inflation.
Basket of products available
1. Child Insurance Plans Offered by all major Life Insurance companies, a Child Insurance Plan should form an important part of the total investment corpus. These not only meet the objective of a forced investment every year, they also provide the fun d managers the flexibility to invest in long term investment products like equities etc
2. Real Estate This requires a lump sum amount to be put aside for investment. However, considering the fact that the final value needs to be realized over 18-20 years, this asset class may offer extremely high returns.
3. Equity Systematic Investment Plans Find a good consistently performing fund manager and start investing in regular monthly installments. Remember, a small amount saved every month compounded over 18-20 years in a performing equity product can deliver very high returns.
4. Fixed Deposits This one is the easiest to manage, but considering the high inflation rates, the net returns on such a product may not be good enough to meet your requirements.
Remember
Start Investing Early for your child
Make a well thought out plan on the financial goals that you have for your child
Follow a very disciplined approach to investing
There are various options in the market and it is important to build the right portfolio from the products available.
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