Career Search

Tuesday, February 25, 2014

Plan for Child Education and Marriage from Its Birth

Download Tax Saving Mutual Fund Application Forms

Invest In Tax Saving Mutual Funds Online

Buy Gold Mutual Funds

Leave a missed Call on 94 8300 8300

 

 

 

 


The birth of a child is always a very special and joyful moment in any family. Every parent wants to give the best of everything to the child — be it a great childhood, education, wedding or any other thing. So whenever a child is born, parents usually try to i nve s t some money in the ch i l d’s name in an insurance policy, a fixed deposit or gold. Many a times, they just invest some lump sum amount, thinking it would help meet the child’s future goal and then conveniently forget about it.


W h e n my daughter Aditi was born, I followed a different approach. The first thing I did was to increase my term insurance by Rs 1 crore. Now I was at peace of mind that even if something were to happen to me, my family will get an additional Rs 1 crore which can be effectively used for my daughter’s future and she can enjoy the same benefits that I wish to provide her even if I am not around.


Additionally, I started saving for Aditi’s education and marriage so that I can easily give her a happy and financially secure future.


I started investing Rs 10,000 every month through an SIP in a diversified equityoriented mutual fund. In her naming ceremony, she received Rs 1.2 lakh in cash as gifts from our relatives. I invested the same into an existing fund.


Whenever there is any occasion in the family, she again receives cash gifts ranging from Rs 5,000 to Rs 20,000. We simply invest these in the same fund.


Normally, people buy gold on Akshay Tritya, but I went and added Rs 20,000 in the SIP as I believe equity is the best asset class to deliver inflation-beating returns. My aim is to continue this investment for the next 25 years. If I continue the same, she would receive around Rs 50 lakh when she is 18 for her g r a d u at i o n and approx Rs 1.32 crore for her post-graduation on her 23rd birthday, a s s u m i n g a c o m p o u n d e d annual return of 15%.


As every Ind i a n p a re n t dreams of organising a big fat wedding for the daughter, so do I. So I started another investm e n t o f R s 10,000 for her marriage wherein she would receive approx Rs 7 crore for her marriage when she tur ns 30. And at that time, I will not have to dip into my retirement savings for her wedding, which unfortunately most parents have to resort to because they don’t plan in advance.

 

 

 

We can help. Call 0 94 8300 8300 (India)

Leave your comment with mail ID and we will answer them

OR

You can write back to us at

PrajnaCapital [at] Gmail [dot] Com

 

---------------------------------------------

Invest Mutual Funds Online

Invest Any Mutual Fund Online

Download Mutual Fund Application Forms from all AMCs

Download Mutual Any Fund Application Forms

---------------------------------------------

 

Best Performing Mutual Funds

    1. Largecap Funds             Invest Online
      1. DSP BlackRock Top 100 Fund
      2. ICICI Prudential Focused Blue Chip Fund
      3. Franklin India Bluechip
      4. ICICI Prudential Top 100 Fund

B. Large and Midcap Funds         Invest Online

      1. ICICI Prudential Dynamic Plan
      2. HDFC Top 200 Fund
      3. UTI Dividend Yield Fund
      4. Birla Sun Life Front Line Equity Fund
      5. Franklin India Prima

C. Mid and SmallCap Funds          Invest Online

      1. Reliance Equity Opportunities Fund
      2. DSP BlackRock Small & Midcap Fund
      3. Sundaram Select Midcap
      4. IDFC Premier Equity Fund
      5. Birla Sun Life Dividend Yield Plus
      6. SBI Emerging Businesses Fund
      7. HDFC Mid-Cap Opportunities Fund
      8. ICICI Prudential Discovery Fund

D. Small and MicroCap Funds   Invest Online

      1. DSP BlackRock MicroCap Fund

2.       Franklin India Smaller Companies

E. Sector Funds          Invest Online

      1. Reliance Banking Fund
      2. Reliance Banking Fund
      3. ICICI Prudential Banking and Financial Services Fund

F. Tax Saver Mutual Funds      Invest Online

1. ICICI Prudential Tax Plan

2. HDFC Taxsaver

      1. DSP BlackRock Tax Saver Fund
      2. Reliance Tax Saver (ELSS) Fund

G. Gold Mutual Funds        Invest Online

      1. Relaince Gold Savings Fund
      2. ICICI Prudential Regular Gold Savings Fund
      3. HDFC Gold Fund
      4. Birla Sun Life Gold

H. International funds         Invest Online

1. Birla Sun Life International Equity Plan A

2. DSP BlackRock US Flexible Equity

3. FT India Feeder Franklin US Opportunities

4. ICICI Prudential US Bluechip Equity

5. Motilal Oswal MOSt Shares NASDAQ-100 ETF

Posted by at

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)