CHILDRENS EDUCATION PLANNING:
Education is a value for your child’s future.
Apart from other facilities and amenities providing world-class education can help achieve career goals.
This is easier said than done given the challenges and competition in the field of education today.
“Education costs are inflating at an above-normal rate, and the returns on your child education fund need to outpace inflation.”
IT IS IMPORTANT TO:
1. One needs to put a plan in place by setting up a target amount for child’s education needs.
2. Inflate it by considering a conservative inflation of around 8 percent per annum for the number of years after which the child would require funds.
3. Find out how much you would require investing each month towards it.
4. Create separate buckets of investments for education costs that will arise in the short term, medium term and long term, respectively.
A sum invested regularly in the plan can help accumulate a corpus that will secure your child’s financial future. The amount of contribution will depend on how much you plan to save.