As parents, we want our kids to get a good education, and make them capable enough to make their own way in life. Inflation will always be a reality. Only saving will never help meet the expenses of raising a child. One of the biggest cash outflows that families must plan for is Children’s education.
How do you ensure that?
Start by planning for their education early on with mutual funds. Investing in mutual funds has several benefits:
1) You can start investing with a lump sum amount and/or with SIPs according to your own convenience.
2) Investing early in mutual funds can lead to long-term wealth creation.
3) Mutual Funds can help in diversification across different asset classes.
The sooner you begin investing on a regular basis, the higher your chances of providing your child with the future of their dreams. This will help maximize your savings through returns from investments, and ensure that you are ready to nurture their dreams and passions in every way possible. Ask yourself a few questions – what’s the cost of your child’s education goal, how much can you invest, and for how long.
Keep this in mind while investing in your child’s future:
1. Plan to build an amount that would help your child through various stages of life.
2. Periodically review your investment strategy
Remember, what’s most important is to give yourself enough time to build the kitty. And that’s why investing early is the key.
Watch the video above by ICICIPrudentialAMC to understand how investing in Mutual Funds early can help planning for your children’s future.
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