How TO plan for your child’s education?
5 GOLDEN STEPS TO PLAN FOR YOUR CHILD’S EDUCATION
Step 1: Set your goal to generate sufficient corpus for your child’s dream career
Dream course –an MBA from XYZ Institute of Management .Cost Rs 20 lakh* today.
*Assumed fees of the premier MBA colleges in Tier 1 cities
Step 2: Identify the time period you have to save for your child’s education. If your son/daughter takes up this course 15 years from now, it may cost Rs 83.5 lakh*
*Considered 7% inflation over 15 years on today’s assumed fees of 20 lakh of the premier MBA colleges in Tier 1 cities
Step 3: Aim for the magic figure required to generate the corpus.
The magic figure is Rs 16723*
*Assumed the growth of investment at 12% CAGR to reach the goal amount in 15 years. CAGR – Compound Annual Growth Rate
Step 4: Identify the kind of investment dedicated towards the goal generating 12% CAGR*.
Considering the importance of your child’s dream career, it is ideal to invest into mutual funds that follow balanced investment style.
*CAGR – Compound Annual Growth Rate
Step: 5: Keep a track of your investments and utilize the corpus optimally to fund for the desired objective.
Follow these 5 steps and ensure you fulfill your child’s dreams
We know that you love your child a lot and you are little worried about his/her future but we also know that you’ll do your best to get the best child investment plans and give your kid a bright future. We want to assure you that we are there with you at this stage also; to plan and to provide best for your child.
Our Child Education Planner and advise will help you determine approximately how much money you will need for your child’s dream education and how much you need to save regularly.