Father’s Day 2024: Expert-Recommended Investments for a Secure Child Future

When a father starts financial planning early in life, he may provide his children with a strong financial foundation. He can also protect his children’s future by investing in traditional ways, such as PPF, or through equity-oriented plans, such as Child Solution Plans.

Father's Day 2024: Expert-Recommended Investments for a Secure Child Future

Father’s Day is coming up on June 16 this year, and as his daughter or son, you might be thinking of ways to make the day unique and unforgettable for that important someone in your life. On this important day, fathers who are an essential component of the family should also try to make sure their children have financial safety.

As a parent, in addition to providing your children with a high-quality education and good health, you should start early with financial planning. A systematic approach to reaching life goals is facilitated by financial planning. It also instills in children a disciplined lifestyle. Investing for children can be a great way to prepare them financially for adulthood, whether it’s for financing higher education, buying their first car, or eventually helping them with a down payment on their first house.

Here are a few crucial investment strategies recommended by AmeySathe, Fund Manager at Tata Asset Management, from the viewpoint of children:

Account for savings: Expert-Recommended Investments for a Secure

• Having a savings account for your children is crucial as a father. It

Having a savings account for your children is crucial as a father. It facilitates the teaching of financial literacy by allowing the regular deposit of funds obtained from gifts, rewards, and other sources. They can learn the fundamentals of interest and how to watch their money grow from this as well.

Child solution plans: These provide kids access to the stock market and give them the chance to compound their money over time. These funds expose children to debt and equity over an extended period of time. These plans, however, are locked in for five years or until the child reaches the age of majority, whichever comes first. Because they are invested in the stock market, which might have its own volatility, it is crucial to make long-term investments in such plans. intervals of time.

Social Security Fund:

For their children, fathers can register PPF accounts and make regular contributions, which could assist build up a sizable corpus for their future requirements. The interest earned in PPF accounts is tax-free, and there is a 15-year lock-in period.

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Account opning link:

1. Groww Account- https://app.groww.in/v3cO/kyrp1zph
2. Kotak neo Account https://kotaksecurities.ref-r.com/c/i/32531/109103906