Children education and Children marriage
In Indian couple of top priorities for parents are Children’s education and Children’s marriage. Usually, there is good amount of time before the child would need money for these and Parents should look at SIP in equity funds for building a good Corpus.
Steps for putting a SIP:
1) Select couple of good funds from a good fund house with a track record of several years.
2) Have a good idea about when your child will go to the college and when he or she would get married. Basically know how many years you got before your child will need money for college and his / her marriage.
3) Select the application form — ECS mandate for fund transfer from your bank to selected mutual fund and the date on which the transfer will happen.
4) Most importantly >>>> DO NOT Touch these funds under any circumstances
5) Review Fund performance regularly and if required, Re-balance the portfolio.
If confused consider consulting us or any good financial advisor.
Please avoid a distributor or an insurance agent. Ask for his qualifications. he should be a CA, CFP or CFA at a minimum. See this article - Selecting your Tax Preparer
DISCLAIMER
The contents of this article are for information purposes only and do not constitute an advice or a legal opinion and are personal views of the author. It is based upon relevant law and/or facts available at that point of time and prepared with due accuracy & reliability. Readers are requested to check and refer relevant provisions of statute, latest judicial pronouncements, circulars, clarifications etc before acting on the basis of the above write up. The possibility of other views on the subject matter cannot be ruled out. By the use of the said information, you agree that we are not responsible or liable in any manner for the authenticity, accuracy, completeness, errors or any kind of omissions in this piece of information for any action taken thereof. CA Mitesh and Associates is Mumbai's leading Cryptocurrency Taxation Firm which is committed to helping people navigate complex tax laws and banking regulations. Our main aim is to assist the individuals with applicable laws & regulations compliance and providing support at each & every level to make sure that they stay compliant and grow continuously. For any query, help or feedback you may get in touch here - Appointment with CA. Please note the all consultations with the CA are Paid consultations.
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