Everyone wants to improve the future of children. Parents make a lot of efforts for this. They do not want their children to lose the best education and career opportunities due to lack of money. In such a situation, there is a need to start the right investment keeping the future in mind. Proper financial planning is needed from now on. Today is Children's Day, so why not start it from today itself. There are many investment options available to create funds in future, which will prove helpful in children's education or marriage in future.
Unit-Linked Insurance Plan
Unit-Linked Insurance Plan (ULIP) is a great option to secure your child's financial future. ULIP is a popular option for those who want long-term wealth creation. It combines the benefits of life insurance coverage with investments. They offer the dual benefit of life insurance as well as market-linked returns. You can invest as per your risk appetite while enjoying market linked returns.
life insurance
You may consider life insurance plans to meet specific financial goals, including financing your child's higher education abroad or saving for their wedding. Along with providing financial security in difficult circumstances, life insurance plans can prove to be a powerful investment tool. Policies like endowment plans provide financial protection in case of unexpected events. This ensures disciplined savings during the policy term.
SIP
If you can save a fixed amount every month then you can start investing through SIP (a systematic and disciplined way of investing in mutual funds). These are suitable for those who may not have a lump sum amount to invest. SIP can potentially give high returns in the long run.
FD or RD
Sukanya Samriddhi Yojana
Sukanya Samriddhi Yojana, a special scheme of the Government of India, has been designed for girls up to 10 years of age. You can also avail tax exemption under Sukanya Samriddhi Yojana. This long-term investment ensures financial security for the girl child's education and marriage.
Sleep
Gold has been a traditional investment option in India which proves to be of immediate help during emergencies. Many relatives gift gold coins, jewelery and bullion to newborn babies as investment. If you want, you can buy gold now and keep it in the names of your children. According to HDFC Life Insurance, although the price of gold fluctuates, it is not linked to market fluctuations, making it a reliable investment during market underperformance.
Public Provident Fund
real estate
Investing in real estate can be a long-term strategy for building wealth. While it may not be as liquid as other investments, the asset increases in value over time, providing a potential source of funds for your child's future endeavors.
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