Four Easy Ways to Secure Child’s Future
You will always wish the best for your child. For this, you will surely take efforts to provide him with good food, decent clothes, and of course quality education. However, education turns out to be a costly affair as your child ages into teen years. To secure the growing educational needs of your child, you are advised to invest from his early years of childhood.
To meet this requirement of investment, several plans and schemes are available in the market. Here are the top few plans that will be helpful for your child’s future.
1> Open A Bank Savings Account
If you are habituated to small savings, then opening a bank savings account is the right choice for you.
With this account, you will be able to accrue small amount of funds in order to collect a huge corpus. Savings accounts are useful when you are looking forward to keep investments in liquid form.
2> Opt for a child savings plan
Several insurers and mutual fund companies have now launched various child savings plans in the market in order to meet the investment requirements of parents. By investing in these plans, you will be able to avail huge returns over a period of time. Thus your child's college education needs will get fulfilled.
3> Invest in mutual funds
Mutual funds are the best instruments to invest in when it comes to capital appreciation within a short period of time. There are various types of mutual funds available in the market that will help you achieve your investment goals within a given period of time. They are professionally managed by fund managers who have expertize to tap lucrative opportunities.
4> Look for Recurring deposits
Recurring deposits are ideal when it comes to achieve short term investment goals. To meet the immediate educational requirements of your child, it is advisable to opt for recurring deposits.