look news india
New Delhi With changing times, the ways to secure your daughter’s future have also changed. If you are also planning to invest for your beloved in the year 2026, then you will have to leave old thinking behind. In today’s era, given the inflation and rising cost of education, it is not enough to just save money, but it is necessary to create a diversified portfolio that can make one completely financially self-reliant.
Why is it risky to depend only on Sukanya Samriddhi (SSY)?
Sukanya Samriddhi Yojana (SSY) in India is still popular for tax savings and secure returns. But experts believe that it is not right to depend completely on it. The biggest reason for this is its ‘lock-in period’. In this scheme the money gets blocked for a long time. If you need funds ahead of time for your daughter’s higher education or any other emergency, it is difficult to withdraw money immediately from SSY. So keep it a part of your portfolio, not the foundation.
Mutual Funds and SIP: Mantra to beat the inflation of higher education
Today the fees of private colleges and foreign institutions are skyrocketing. Government schemes with fixed returns often lag behind in beating inflation. In such a situation, Equity Mutual Fund (SIP) is a great option. Long-term investment not only helps in building up big capital, but it also has liquidity, that is, you can withdraw money when needed.
Keep flexibility and liquidity in your portfolio
Education is not the only expense when a daughter grows up. Maybe he wants to start his own startup or pursue a professional course after graduation. If all your money is in long-term lock-in plans, you will not be able to meet these needs. Therefore, keep a part of your investment in a place from where money can be easily withdrawn when needed.
Term Insurance: An ‘impenetrable’ protective shield for dreams
As a father or mother, you invest, but have you secured your daughter’s future in your absence? It is mandatory to take a term insurance even before investing. This is not a return-yielding investment, but a safety net that ensures that even if something happens to you, your daughter’s dreams and her education do not come to a halt.
Make your daughter ‘money smart’ and financial advisor
Along with saving money, it is also important to teach financial literacy to your daughter. Teach him about the importance of saving and investing from an early age. Involve her in your investment decisions so that she grows up not only entitled to money, but also able to manage it properly.
Review from time to time
It is not necessary that the plan made today remains the same even after 15 years. Your daughter’s interest and career direction may change. Therefore, review your financial plan every year and re-balance your investments if needed.
