Dear Basu Sir,
I have a girl child age 8 years and I am deeply confused about her future. Please guide me in this regard that which plan is the best for my child so that I can receive a huge amount at the time of her marriage (30-40 Lacs lumpsum). I want to invest more than 5 thousand. But in which market plan and how much % should be invested in that plan? Please guide me.
I hope you need the cash of around Rs.30-40 lakh when she turn the age of 18 years. However, it is hard to achieve with your investable amount of Rs.5,000 and with return on investment expectation as 12%.
But you must avoid any child plans or kid’s insurance plans. Instead, first buy an online term insurance plan in your name to the tune of around 15-20 times of yearly earnings.
Then split this Rs.5,000 into one large cap fund for Rs.2,000, one mid cap fund for Rs.2,000 and one short term gilt fund for Rs.1,000. You can select these funds from my blog posts.
- Top 10 Best SIP Mutual Funds to invest in India in 2017
- Top and Best Debt Mutual Funds in India for 2017