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I have still won nowt.
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Raja | What is the best investment idea for a new born baby? |
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Deliah
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Forget the insurance policy crap and go with a good mutual fund account after all it will be a long time to weather the ups and downs over the years.
There are many that you can dollar cost into if you set it up right, with little money to open the account. |
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CHARITY G
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Pre-paid college tuition plans. It will ensure that the new born baby eventually leaves your home. |
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Ryan S
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i'm assuming you already have your 401k's maxed and roth/traditional IRA's maxed.....
save for yourself first..you will get the best tax advantages right now which helps your overall condition.. (you can always borrow against these funds later if you have to)
i'd say look into a 529 plan... its a college savings account that grows tax deferred (tax free? i forget) and in some states if you use the right plan you can get tax credits for contributing to it. |
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pinkyismygirlfriendniluvhur
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buy a pice of land someplace, northern Maine or something
make sure it isn't a swamp, should cost like $3000 maybe, plus realtor fees
then somebody has to pay the taxes
by the time that kid reaches retirement, it could be worth millions |
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dinu_pawar
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any balance MF & Gold MF
more on my blog |
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Sameer R
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Open an PPF A/C in SBI or Post Office. It's minimum investment per year is Rs.500/- only, and maximum investment is Rs.70,000/-. It is for 15 years, after that you can renew the A/C for 5 years. It gives 8% interest, but if u calculate cummulative interest it is much more than we see. So as per my opinion PPF should be the first perference for a new born baby.
Secondly, you can go for mutual funds.
LIC should be the last preference. |
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Elizabeth S
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I agree a whole life insurance policy. 1) Should something happen it will provide funds for you to take time off to heal. The rates are super low. 2.) At 21 or so, the amount of pay out really increases. 3.)He or she can borrow against it for a down payment for a first home, begin a business, etc. 4.) Plus, if you set it up right, should your child be diagnosed with a terminal illness half of the money can be taken out early, tax free to cover the bills and provide for his or her family. 5.) Payments may be available for as one-time (with the option to pay more later), annually, quarterly, etc.
You can set up a college fund, too. I would caution you that what if question...what if my child doesn't choose to go to college...what happens to the money then. Plans vary from state to state.
Stocks are not a bad idea either when you are thinking long-term.
Mutual funds provide a low-rate of return. When planning long-term, rather than in retirement, I do not believe they are best.
If the funds allow, diversification is best. |
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karan
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for a new born baby u can hav lots of investments.
1)u hav an orthodox option of goin for fixed deposits.
but seeing d rate of onterest around 10%.ur money get s doubled in 9-10 years.its a very safe option.
2)but visualizing a current scenario of economy u can opt for insurance also.nowadays many companies are offering very good plans related to child plans.its really anhealthy option.
currently if child in 10th .he/she requires atleast 5-7 lakhs of rupees for atlest till graduation in some science field.expecting d price rise in future,if still u invest a handsome amount in in insurance u can easily fetch a good amount after 15-18 years .finally its ur decision. |
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hasnathullah k
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first of all it depends for what purpose you are saving for your child.the most obvious answer would be for his /her education as a first step.but even before u do that see if you have an insurance policy in place.dont go by what the insurance agents say.the best insurance policy is a term insurance policy which no agent would like to talk about since it means extremely low commission for them,if you can take a term policy for say 20 years .in case of your unfortunate demise you will get only the insurance amount that you have insured for.if you outlive the policy you will get nothing.but the premium for this policy is exteremely low compared to say endowment policy which gives bonus of something like 5% per annum which you can collect at the end of the policy term.but the flip side of this is that you will be paying a very high premium which does not justify the return that you will get. so alternatively take a term policy for an amount which will cover some years ,i am not sure how many years it is supposed to be.anyway with the rest of the money invest in diversified mutual funds for say a period when you will be requiring money for your babys education. remember inflation is a silent killer what costs a rupee today would be many more times by the time your child is ready for college education.the only way to beat inflation is through diversified mutual funds which generate roughly about 12 to 15 % on annualised basis.this means that with inflation roughly around 5to 6% your money is surely going to beat inflation and you will be able to afford your baby's education easily.if you have a daughter you also have to plan for her marriage which would be at least 20years away. again mutual funds are only way to plan.dont look at the nav of the diversified mutual fund s on adaily basisand plan them ona monthly or quarterly sip basis.if you look at your fund value everday you will lose all your confidence in them .diversified mutual fund are meant for the long haul. equity mutual funds by their inherent nature are volatile but over aperiod of more than 5 years you will see the growth potential of mutual funds. |
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skg
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Please meet any good insurance agent and take a children policy after going through the highlight of the scheme. |
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ak_pathik
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Get best investment idea at http://finance.tipz.in
Source
http://finance.tipz.in |
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CA,S K somani
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Hi
Don't worry about the future.
God will take care of him as he has sent him.
Just start thanking him and put some new trees in the name of your newly born baby
in your nearby areas is a good idea.
If you have some money - why not adopt a child who can not study due to money -
Give some money for "Gift a Smile Project " for school for such children in Banglore .
or you may buy some peace of mind for the newly born baby by putting some money in fixed deposits in a reputed bank only .
Thanks and best wishes |
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Kanchan B
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Reliance Life Insurance Co. Ltd.- Child Plan Policy, even newly marriaged couple can also take the policy though they have no child bcoz after birth of their child the policy automatically handed over in the name of the child.
You can also go for Reliance Money Gurantee Plan for atleast 5 to 10 years. Capital guranted as well as 100% equity exposure.
For more details pls. contact- +919836264588. |
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bhavani g
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life insurance is better to investment |
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Vate
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Ther are many childfen policies in LIC. alternatively, open a PPF accoutnt with any SBI branch. It carries 8% interest. |
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reena r
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money back policy in LIC insurance company |
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cuteboy s
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invest in something like insurance as in India now many companies are giving insurance like pay rs1000 per month and after 20 yrs you will get 110%.
So this will mean that your 1000rs. per month can change your kids life when he will be 20 yrs old.
And if something happend to you between that time period full promised amount will be given to your nominated person.
And moreover you can save your tax. |
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Gopal K
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You should come with a worksheet first on what ages of your kid what amount you really need
e.g:
At the age of 5 - 30000Rs for her good base school.
At the age of 18 - A good college education at the cost of 200,000 Rs (Consider Inflation also while doing this calculation)
At the age of 22 - A good higher education, marriage etc
Based on this plan you start investing on different avenues available for you.
For the first requirement in this example it is a short term ( < 5 years ) you can go for a Fixed Deposit, as the amount is less and a good returns from reputed banks.
For the second requirement, you can think of a long term investment avenue like PPF, NSC, Equity Mutual funds, again if you dont have risk tolerance then dont get into stock market business
Dont make your kid study in a low class or high class college based on the stock market performance
Diversify your investments also to some extent, so if Mutual Funds didnt help, the others will some what help you to manage.
20% in NSC
30% in Fixed deposit's
50% in Mutual Funds
I would suggest to take a good term insurance policy for you, which will help your kid just in case if anything happens to you.
Dont go with the insurance agents who doesnt prefer term insurance by any chance as the commission is very less.
e.g:
If you have 10000 Rs to invest per year, take a term insurance with 10Lakh cover for a premium of 2K per year.
The rest 8K you invest in your own need like NSC, FD, MF's
Dont get in the trap of insurance agents asking you to take a money back policy for a premium of 10k per year for 10Lakh cover.
All the best, this would take some time, but once you understand every avenues of investment and your needs, everyone will be able to do a best planning.
Nothing best than our brain and time. |
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