Tuesday, September 21, 2021

HOW TO PROTECT Children's future? make this kind of investment

Children's future will be 'protected', make this kind of investment
HOW TO PROTECT Children's future? make this kind of investment
 HOW TO PROTECT Children's future? make this kind of investment

Raising children is not the responsibility of parents. Rather their parents just have to think about their financial strength.

The future of the children depends on the upbringing of the parents. This upbringing teaches the child to move in the right direction, so move on. However, the importance of saving the child is also explained in this upbringing. They say from time to time that money has a very important place in life in terms of earning money is an essential part of nurturing. 

But kids need to understand this thing themselves before they can explain it. In fact, parents will only be able to explain this to their children when they themselves have the necessary savings for them. And start saving for them at the right time. 

Although there may not be a right time to save, it fits in the morning when you wake up. But for a secure financial future, you need to start saving at a certain time. So that the child does not have to face money when needed. To put something aside for the kid's future, let's find out-

10 percent fund-

Counseling suggestions for a child's education are often obtained not only from experts but also from relatives. You should think deeply about everything.  But how much will these savings? On what basis should it be done? So this question is answered by experts. 

They say that first understand the cost of tuition now. Then make it 10 percent. You can easily find an online calculator that will easily do these calculations for you. Having got this idea, starting to engage in child education will give you better results.

Age estimate-

When investing for kids, you also need to think about their age. For those whose children are 15 years old, their speculation will be unique, but for those whose children are only 3-4 years old, their investment opportunities will be a bit bigger.

If the child is young then investing in mutual funds will be fine, but if the child is older then a bank fixed deposit will be fine if you want to invest money quickly.

Emergency funds have been created

You are the child's first bodyguard. That means you are the person in their life who will take care of them first. Therefore, you also need to prepare such funds, which will be effective in bad times. At a time when money is very much needed and there is no way to understand, this cash will prove to be useful. 

Try to save at least six to nine months in this fund. Save this money in this national account too, which procures more interest.  Remember, this fund can benefit you at any time like a sudden illness, child admission. Regardless of whether the entirety of this doesn't work,  this money will definitely come in handy after you retire.

As soon as, more-

If you have any concerns about your child's future, begin putting resources into them as quickly as time permits.  So that after one age he can get maximum financial benefits. For example, Rs 1 crore may seem like a huge amount to you but with a quick and intelligent investment, this amount can be added for as long as needed. For example, if 9000 or more SIPs are given, for about 18 years. So adding this amount with a 15% return will not be difficult.

Future Insurance-

You must have seen the advice to take out insurance a lot of the time. It has many advantages such as it can be withdrawn after a certain period of time. Not only do you get the benefit of it in times of emergency, but the future can be secured if you invest in a lot more.

You can invest it according to your child's higher education. You calculate the time of your child's higher education, such as how many years after he leaves school and goes to professional studies, then take out insurance for that time. You will get a single-digit amount when the child is going for higher education.

Expenses, which can be annoying-

Now inflation is rising so it will not be enough to just think about education. This does not mean that you should just think about the fees and get your work done. One should check the hidden expenses. Such as coaching, traffic, books, what's more, extracurricular exercises.

Sometimes you may have to take a variety of courses, such as language courses. Understandably, training in professional courses has become very expensive so far. Therefore, when saving, one should always pay attention to some different ways of saving.

Focus on growth resources

You need to pay attention to the fact that you have to invest money in a place where the value of money is constantly increasing. Such items will be called Growth Assets. These carry high risks but also have the potential to generate a lot of income. Shares may be included and assets may also be included.

There is also a protective resource-

Yes, assuming you need to put resources into kids,  you need to look at growth resources as well as protective resources. These items give specific results. Somehow, after investing in these, there is no need to think about that money. Their specialty is that their risk is low. 

But don’t expect too much about returns. Since the return isn't high. This may include cash and fixed deposits.


How do I secure my child's future?

How do you invest in your child's future?

What kind of investment can be made on a child?

What is the best investment for a child's education?

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