RD or Mutual Fund : Which is Better for Child Education Planning ?
Child Education planning
Do you know, in India, 81% of the parents do not even know the cost of higher education for future studies of their child education planning.
It’s high time we start planning for our children’s education because the cost of good education is rising rapidly.
If you want your child to get the best college or university, then you must know that the price you have to pay for admissions.
So, you need to plan for it from today.
You dream of your child to be a doctor, engineer, banker, entrepreneur etc.
For that suppose, you require Rs 50 lakh in 10 years for your child ‘s education.
Where will you invest for your Child’s Education Planning ?
Will you consider Recurring Deposit in Bank or prefer an SIP in Mutual Fund.
Let us compare both options.
Here’s a comparison of RD and mutual fund
Recurring Deposit Mutual Fund SIP
Monthly Amount 24000 24000
Time Period 10 Yrs 10 Yrs
Rate of Return 7% 10%
TOTAL CORPUS 40 Lakhs 50 Lakhs
Invest in such plan where your money grows quickly with time just like your child
To meet your goals, you need proper planning for savings & investment.
Educating your child well, as a parent is one of your most important duties.
But follow a sensible approach to fulfil your responsibilities towards your child’s education.
Before preparing a financial plan, you must evaluate your child’s future needs, and then start working towards it.
Begin the process of saving and investing early. This will enable you to create an adequate corpus for the fulfilment of your children’s desires and ambitions.
Want a complete planning structure for your child’s education ?