It’s never too early to start saving for your child’s future
Good educational background is the most valuable gift which a parent can give for their child’s bright future. Present scenario is drastically different from previous years. Education cost has been rising largely due to inflation and one needs to start investing in a planned manner early to fund higher education of their children.
One need to consider following before choosing the right investment tool or before allocating assets in different investment tools;
- Present financial status.
- Your age and child’s age (for calculating time horizon of investment)
- Average Inflation rate of last few years
- Expected growth in your annual income
- Present value of the goals and plans for child’s future.
Let’s understand the implications of above with help of case study of Mr Adnan;
Mr Adnan, a 30 years old doctor wants to save for his two years old daughter’s higher education which costs Two Million today. Taking inflation as 8.5% per cent he would need a sum of Seven Million Plus after 16 years for meeting his daughter’s college fees.
Here comes the role of financial planning to pave the way for his investments and goal funding.
So, to put an end to all worries related to your child’s future, Contact Us and make your investments planned and goal oriented.