There is nothing more rewarding than seeing your child grow and make progress every day. However, times have got tough and raising a child is no childâ€™s play today. Both parents face a lot of pressure and strive hard to ensure their child gets a good upbringing and future. Taking this into consideration it is best to take a good investment plan for your child that will take care of your childâ€™s mounting education expenses and other needs.
Preparation for your childâ€™s future should commence as soon he/she comes into this world. Starting early will ensure you are always a step ahead of your childâ€™s needs. Invest in a plan that ensures you get the best return and that your child gets the required fund each time to reach his/her future goals no matter what his situation may be.
The two main needs for which most parents need substantial financial funding is education and childâ€™s wedding. You need to calculate the required funds taking into consideration the year of requirement for the respective milestones. With respect to future needs, donâ€™t just consider funds for academics but also plan for childâ€™s extracurricular activities. With the growing talent competition on TV channels and successful careers in sports, singing, dancing, painting you should not suppress your kidâ€™s talent in other fields by not planning funds for those activities. Who knows your child could be the next Sachin Tendulkar, Sania Mirza, PT Usha, Mary Kom or Arijit Singh. Inflation should also be kept in mind when calculating expenses as the value of INR 10 lakhs today will be obviously lower 10 to 15 years down the line.
So, we urge you to must have comprehensive financial planning for your child.