Jamshedpur. If you want your child to become an engineer, doctor or scientist, but are worried seeing the increasing education expenses, then there is no need to worry. In today’s time, through proper money planning, you can easily prepare a big fund for your child’s higher studies.
Speaking to Local 18, financial advisor Javed Akhtar Khan, who has been giving sound investment advice to families for the last 21 years, says that parents can easily create a fund worth crores with just a little understanding and rules.
Will not have to take loan in future
According to Javed, many parents are worried about the future of their children and how their needs of lakhs and crores of rupees will be met in the future. According to him, “Start investing today, whether the amount is big or small, in future you will not have to face the problems of any loan, debt or arranging money.”
Money grows faster with long term investment
If you have a large amount of money available at one go, he suggests investing in a multi-asset mutual fund would be the best option. This fund runs by maintaining a balance in all three assets – equity, debt and gold. Therefore, there is less risk and stable returns. When invested for a long time, it grows your money faster.
Invest as per rules
Those who do not have a large amount at one go, can easily prepare a fund of Rs 1 crore for their child by adopting the 15×15×15 rule. According to this rule, you will have to invest only ₹ 15,000 every month. Assuming an average annual return of 15%, your investment reaches around Rs 1 crore in 15 years. That is, without any huge loan, you can make your child’s future secure just by investing as per the rules.
Get started today
Javed Akhtar says that this scheme is very helpful especially for those parents whose children are still small. The sooner you start investing, the more benefit you will get. Small savings today become the strength to fulfill your child’s big dreams in the future.
In the end he advises, “Start today, because waiting for the right time reduces your profits.” Right planning, right funds and regular investments can create a strong financial foundation for your child’s education.
