Best Investment Plans for Your Child’s Future
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Securing your child’s future and giving them the best education and other facilities are every parent dream and responsibility. There are parents who are really conscious about securing their child’s future and offering them the best. Such parents always look for options where they will get the best returns on their investments. There are plenty of options available in the market to make investments to get good returns in future. The two major financial and important responsibility as a parent you bear, one is your child’s education and another is marriage. The major concern of parents is how they can secure their child’s education and future in case of any misshaping or their absence? To give your child a secured and tension free future, you should start investing early. It will not only ease your financial burden, but you will have a proper investment plan. You should never make investments in one type of investment plan. You should invest in different plans to get the best returns on your investment. Some parents just invest blindly in one type of plans suggested by the banks representatives. But one should split their investments into different areas and plans to get better results. Here are some investment options to invest your money and get the best returns for your child’s future.
Term investment plans: Investing in term plan is good option to let your money grow over the years. However, you should not take a term plan on your child’s name, rather take a term plan on your name. You can select the tenure of your plan as per your future goals. For instance if you have taken a term plan 20 years this will help you to pay funds for their higher education and marriage too. You can invest in FD or mutual funds , in case of sudden dismissal of parent additional term insurance would help in taking care of your child’s education and marriage in the future.
Mutual funds through SIP: To get the higher returns on your investments and increase your money, investing in the best performing mutual funds is a good option. You can think investing in large cap funds and balanced funds. If you think that investing in mutual funds is risky, you can invest in balanced mutual funds. These are low risk funds as compared to other mutual funds.
Recurring funds: Another option to grow your money and get good returns on your investment is fixing your money in recurring deposits. The rate of interest on recurring deposits is higher than other investment plans.
Invest in PPF: If you open a PPF account with the point of investment, the minimum tenure of blocking your amount is 15 years. You can deposit your money for 15 years and get higher returns on your investments. You can invest your amount for 15 years and it will fetch you a huge amount after 15 years.
Making investments in NSC: This is the best way of investing your money. If you will invest money on regular intervals for 10 years or 15 years, you will get good amount after completion of the tenure.
ULIP schemes: If you don’t want to take any risk related to your investment and want some assured returns on your investments then you should invest in ULIP investment scheme. The amount under this scheme will grow at a lower pace with 4% to 6% annual returns on your investments. Therefore, you should invest after doing all the calculations and considering all the factors. Don’t take any decision in a hurry to invest your money. Collect information from different sources, compare different schemes and plans, invest according to your future requirements and financial goals.