Aar K
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Hi there,
Your child is quite young. It is definitely good to see someone planning ahead.
I am guessing that you do not have a lumpsum amount to invest. So whatever you keep on saving will be invested. You should try a combination of things.
Firstly, there are some insurance companies which offer some good plans for children's education. You will, however, need to search for the right plan.
Secondly, you should think about mutual funds. The markets can be topsy-turvy many times. But considering that you are probably looking at around 10-15 years, these will be a good choice. Pick about two or three good equity diversified funds. Invest about Rs 1000 every month in each of them through SIP (systematic investment plan). Invest like this for about 10 years. You will for sure good returns. Look at www.valueresearchonline.com to find some good funds.
Thirdly, you can also think about getting NSC or KVP. These are available from post offices. You can buy a NSC or KVP for as low as Rs 500. So you can do this every month. They offer a 8% rate of interest.
Besides these the Public Provident Fund is also a good option. You can keep putting whatever amount you save every year. These are also available at head post offices or State Banks.
Do not put all your money in one place. Plan in such a way that you put your money in at least three places.
I hope this helps. |
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jayu k
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1 ulips is the best bet 2 long term systematic investments in a diversified mutualfund 3 there are special schemes for female infants in unit trust of india |
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KKP_Investor
 |
Do a SIP at ICICIdirect.com.
You will not get any better advice than this one.
It is MOST disciplined.
It is LOWEST COST.
It has the lowest risk being in the stock market (since it is Mutual Funds, and SIPping).
Keep doing Rs 1000+ per month for ever until she is 18. You will have a HUGE SUM of money that you will NEVER believe.
I have beeing doing SIP or DCA for a long time and enjoy it a lot. And, I was surprised myself to find that sum of money in that account since it is AUTOMATIC. |
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Brownie
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I work at a bank and my suggestion is savings bonds. They have the best interest rates and they earn interest for 30 years. If you buy an EE series bond you only have to pay half of the face value. So if you buy it for 1,000.00 you only have to pay 500.00. Then it takes about 18 years to mature to the face value which would be prime time for college. It can be cashed in earlier it just won't be worth 1,000.00. And if it isn't needed, it will earn interest for up to 30 years and be worth way more than 1,000.00. Hope this helps. |
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bcote212
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Your best bet is to open a high yeilding savings account with one of those companies like ING or the Orange accout. This will allow you to save money for your child at a higher interest rate than a regular accout. You can always invest in Commodities as well. Some people like to invest in things like the local electric company so that you basically get paid everytime that someone turns the light on, but the stock is usually not that high. Best advise open the high yielding savings account and save for your girls college education. |
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mory k
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if u want to invest 1 re, invest 25paise in gold ,25 mfs,25 in equity like tcs,ntpc ,25% fd ...... |
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mega h
 |
Gold will always hold it's value, even when the US economy collapses. |
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girlwhoknowsitstrue
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See if your state offers a 529 college savings plan. You defer taxes on the money, you can put in as much as $5,000 per year and take it off on your state tax (if you go into your own state program). I understand that Delaware, Virginia and Michigan have some of the more highly rated programs. |
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Frank Castle
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Open a brokerage account at Zecco and invest in the Vice Fund each month. |
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fcas80
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Invest in a broad stock index fund such as the Wilshire 5000. You will earn the market average. If you are in the US, do this in a 529 investment plan so the income will grow tax free. |
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regerugged
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If you are in the US, look into a "529 plan." You can invest in stock mutual funds, and the taxes are deferred. |
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HMT
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It is a widely excepted fact that equities give a very good return in the long term. Invest in equities thru the mutual fund route.
Do not invest in insurance. |
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Steve C
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Put a down payment on a lot, tht you believe will be in demand for development, as she reaches college age,,,,land prices continue to go up, and a cheap lot now might be a ton of money 17 years from now. I have seen alnd in the middle of no where, go up many times over,,,,mined did. |
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pinky
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there are many savings each better then the other in one way or the other . consider the following,
1. P.P.Fs OF national banks and postoffices
2.postoffice MIS
3.t.ds and fds of postoffices and banks
4. TRY some atractive uti schemes on consulting those offices allaround us.
5.mutualfunds also gives good returns now as the market is better right now.u can try
6.ready for high risk and high profit then, try equities(sharemarkets) . ITs, Sugars, pharmas, oil and gases are turning out to output a good yeild now.
ALL THE BEST. |
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