Brands that are innovative and unique grow eight times faster than their rivals. WPP is a world leader in advertising and marketing services. Having a baby girl is a joy unto itself, and as a parent there are various aspects you need to keep in mind in raising a girl. One of the most top investment options 2016 factors will be savings for her higher education and marriage.
Big Fat Indian Wedding’, and you need to save up for this. Let us look at a few schemes that are tailored specifically for investments for girl children. This is the only girl child-specific investment option available at the moment. This scheme was developed with a specific agenda in mind, and unlike the PPF, its time frames and mode of working are with this in mind: meaning that the redemption is to be done at a time when the money is required, either for higher education or for marriage. However, given that this is going to be a debt-based instrument, and the interest rate announced is 9.
1 per cent, if one invests Rs 1. These are insurance covers that pay out a lump sum to the child in the event of the parent’s untimely death. Post this, the insurance company waives all future premiums and continues investing money on behalf of the child, and the investment returns will be paid out to the child at regular intervals. This is mainly used to take care of the child’s education and upbringing. Many mutual funds have children-specific schemes, which focus the investment into a judicious combination of debt and equity with the emphasis on capital preservation with moderate returns. These are typically long-term funds with an investment horizon of 9-10 years. This is one of the safest avenues to save for your girl child, with capital being more or less secure.
One of the best options is to go in for a PPF when your child is very young. The corpus can grow over 15 years and benefit from the power of compounding. The most important thing to remember is to start saving very early. It is advisable to start saving for a child as early as possible, or at least at the time you are planning to have a child, as this will reduce the burden of having to save more once the child has come due to the power of compounding. The earlier one starts planning and saving money for these essential parts of their child’s life, the larger the corpus is likely to be. Receive the best of The Hindu delivered to your inbox everyday!
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