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News India Live, Digital Desk: Every parent dreams that their daughter will rule. There should be no shortcomings in his studies and his marriage should be full of pomp and show. To fulfill this dream, most of us blindly trust ‘Sukanya Samriddhi Yojana’ (SSY). And why not? This is a government scheme, it is safe and the interest is also good.
When we calculate on online calculator, it appears on the screen. 50 lakh or 70 lakh Seeing the figure gives great satisfaction to the heart. Looks like the daughter’s future is set. But, have you ever stopped to think what will be the real ‘power’ or ‘value’ of that amount 21 years from now?
The game of inflation which the calculator does not tell
This is where we go wrong. We look at today’s 7 million, but we forget the “uninvited guest” who ‘Inflation’ They say.
Just think, the 100 rupees that are in your pocket today, did they have the same value 15-20 years ago? No! At that time, goods used to come in a bag for Rs 100, today it comes in a handful. This is exactly what will happen after 21 years.
Suppose, you invested hard today for your children and on maturity you got Rs 50-60 lakh. Sounds very good. But the mathematics of financial experts says that if inflation increases at the rate of 5-6% every year, then after 21 years the purchasing power of those Rs 50-60 lakh will be less than today’s. 15 to 20 lakh rupees Will remain equal to.
So will that marriage or education be possible in 20 lakhs?
Imagine, if today it costs Rs 15-20 lakhs to study MBA or Doctorate, then how much will that cost be after 20 years? Then perhaps it will be worth crores. This means that the ‘fat fund’ with which you are feeling relaxed today, may prove to be ‘a cumin in the camel’s mouth’ in times of need.
What do we do now? Stop investing?
no way! Sukanya Samriddhi Yojana is still a great option, especially in terms of security and tax exemption. But the lesson is just that Only Don’t rely on this one scheme.
- Keep a reality check: Understand that the value of the money received will reduce in the future.
- Do a little extra: If possible, increase your investment amount or even invest a little in some other fund (like mutual fund SIP), which can beat inflation.
It is very good to have golden dreams of the future, but it is even more important to lay the foundation of those dreams on ‘mathematics’ and ‘reality’. Do save for your daughter, but set the target keeping inflation in mind.
