Start investing as soon as possible, don’t make it late i.e. when you are getting married or before.
As cost of education is shooting up, try to save for your family for their future.
If you save at an early age, you will get a good amount of return.
Common people invest in fixed deposit for child’s marriage or education which is a lazy investment, but try to be a active investor and invest your money in equity.
If you try to aim for Equity investments your returns could be between 12-14% per annum, instead of 8-9%.
At GFS Wealth Creators, we help in this process in 2 ways. Firstly the selection of equity Mutual Funds will ensure you own the most consistently performing Mutual Fund through the entire period. In addition, you can open your child’s account as an add-on account.
Let’s determine the monthly or annual figure you need to set aside to meet the goal.
If you start investing for a child when you marry, you may have as many as 20 years ahead of you. But if you start when the child is say 5 or 8 years old, then you could be left with barely 10-12 years. The more the years you have, the less you need to set aside on a monthly basis.