Invest In Tax Saving Mutual Funds Online
Every child brings a lot of joy to the family it comes in. But with joy, there is also a major responsibility on parents to provide for the child’s upbringing. It’s usually a little late in parenthood that couples realize the importance of financial planning for their child. In an ideal situation, it should start early and the idea is to draw out a simple plan to take care of this added financial responsibility without feeling burdened at a later stage. To secure the financial future of a newborn, one must identify the needs and goals first.
First and foremost the earning member(s) should assess their life insurance cover. It is important for parents to discuss an adequate risk cover with their financial planner since Indians in general are under-insured, which puts dependants at great risk in case of an unfortunate event. A term plan would be ideal since it’s both cost-effective and provides higher risk cover.
Since a child goes through various development stages till he/she becomes financially independent, a suitable plan has to be drawn to provide for the same.
The table lists the major development stages in a child’s life that parents should plan for. In the first two needs the expenses are regular and occur every year. To meet these, one can invest in a combination of liquid funds and bond funds. Higher education and marriage are distant goals and one can meet those needs by investing in asset classes that can beat inflation over the longer term. Also as these needs are long dated, short-term volatility is unlikely to impact the financial plan. Historically, equities have been the best asset class to meet longer term needs and your financial advisor would be able to help you choose the right mutual funds towards that end.
This simple plan has put our all worries to rest and the future worth living for.
Happy Investing!!
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Invest in Tax Saving Mutual Funds ( ELSS Mutual Funds ) to upto Rs 1 lakh and Save tax under Section 80C.
Invest Tax Saving Mutual Funds Online
Tax Saving Mutual Funds Online
These links can be used to Purchase Mutual Funds Online that are regular also (Investment, non-tax saving)
Download Tax Saving Mutual Fund Application Forms from all AMCs
Download Tax Saving Mutual Fund Applications
These Application Forms can be used for buying regular mutual funds also
Some of the best Tax Saving Mutual Funds available ( ELSS Mutual Funds )
- ICICI Prudential Tax Plan Invest Online
- HDFC TaxSaver Invest Online
- DSP BlackRock Tax Saver Fund Invest Online
- Reliance Tax Saver (ELSS) Fund Invest Online
- Birla Sun Life Tax Relief ‘96 Invest Online
- IDFC Tax Advantage (ELSS) Fund Invest Online
- SBI Magnum Tax Gain Scheme 1993 Invest Online
- Sundaram Tax Saver Invest Online
- Edelweiss ELSS Invest Online
Best Performing Mutual Funds
- Largecap Funds Invest Online
- DSP BlackRock Top 100 Fund
- ICICI Prudential Focused Blue Chip Fund
- Birla Sun Life Front Line Equity Fund
- Large and Midcap Funds Invest Online
- ICICI Prudential Dynamic Plan
- HDFC Top 200 Fund
- UTI Dividend Yield Fund
- Mid and SmallCap Funds Invest Online
- Reliance Equity Opportunities Fund
- DSP BlackRock Small & Midcap Fund
- Sundaram Select Midcap
- IDFC Premier Equity Fund
- Small and MicroCap Funds Invest Online
- DSP BlackRock MicroCap Fund
- Sector Funds Invest Online
- Reliance Banking Fund
- Reliance Banking Fund
- Tax Saver MutualFunds Invest Online
- ICICI Prudential Tax Plan
- HDFC Taxsaver
- DSP BlackRock Tax Saver Fund
- Reliance Tax Saver (ELSS) Fund
- Gold Mutual Funds Invest Online
- Relaince Gold Savings Fund
- ICICI Prudential Regular Gold Savings Fund
- HDFC Gold Fund
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