CHILD EDUCATION PLAN BENEFITS AT A GLANCE!
High Cost Of Private Education And Need To Work To Support Their Families And Little Interest In Studies Are The Reasons Given By 3 In Every Four Dropouts As The Reason They Leave.
With no doubts, parenting brings along its own set of joys and responsibilities. However, successful parenting is not an easy task as it seems to be. It has multiple challenging accomplishments. Parenting involves nurturing your child’s development, be it through upbringing, education, lifestyle, etc. It’s about transforming your child into a responsible human being with a bright future.
Your Child’s Life Is Like A Piece Of Paper,
Draw A Roadmap Of Success On It.
In today’s age, your child’s future security highly depends on financial planning from an early age. When you start planning your finances early, you have enough time to take risks, benefit from compounding, and balance your risk and returns.
In doing so, it’s very much essential to understand your child’s needs with respect to higher education, course fees, accommodation charges, utility charges, and food expenses among others. Investments in time are crucial. You can hire a financial planner or investment planner who can help you to understand the important parameters of child investment planning. There are ample insurance child education plans, along with other investment options that can help you to accumulate the desired amount.
As the cost of education goes on rising each day, it is necessary to invest in diversified investment instruments that offer sufficient funds to meet the expenses at the educational milestones in of your child’s life. Diversification helps you to balance your risk and returns, and hence, it takes care of your child’s future needs even when you are not around.
Several benefits of child education plan include,
Maturity Benefit to meet Higher Education Expenses
Parents have different aspirations for their children. They wish their child to take up professional careers as an engineer, architect, lawyer, or doctor. However, the fees for these courses are steeply increasing and hence becoming unaffordable for most of them. To an extent that you may have to avail a loan to meet your child’s education needs.
It has hence become utmost important for you to start investing in a child plan at an early age. This will give you the time to accumulate the required corpus.
Click here to determine how much do you need to invest for your child education planning!
Balance Risk And Returns
Market fluctuation is simply inevitable. This may impact your returns on investments. Hence, it’s important to diversify your portfolio, under the guidance of a qualified financial planner.
Deepak Dhabalia
Wealth Coach
