Hyderabad : It is natural to think about future financial needs and make early investments to get monthly returns later. As education inflation is rising constantly, every family is feeling the need for such early investments these days. What should a 33-year-old private employee do to secure the future needs of his or her four-year-old daughter? What plans are available to meet this goal?
Many policies are there to help in supporting this plan if you are ready to invest Rs 10,000 per month. Take a term insurance policy of at least 10-12 times your annual income. You should make sure that the investment you make earns a return that exceeds the education inflation. Allocate Rs 6 thousand out of Rs 10 thousand to diversified equity mutual funds in a gradual investment strategy.
Invest the remaining Rs 4 thousand in Sukanya Samriddhi Scheme. If you invest like this for 14 years, it is possible to get Rs.36,11,390 with an average return of 11 per cent.
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If you have joined a job recently and want to invest Rs 15 thousand per month for the next five years, then you should have a long-term investment plan to earn good profits in future. In order to invest in the stock market one must have a proper understanding. There is five years' time so you can pick good stocks and start investing. These should be monitored continuously. Alternatively, you can try to invest in equity mutual funds on a monthly basis. This will reduce your risk of loss. It will save you time too. These should be reviewed annually.
If you want to deposit Rs 10 Lakhs in the name of your parents aged above 60 and arrange monthly interest in their account, you can check the Senior Citizen Saving Scheme at the post office. Over 8 per cent of revenue is coming out of this. Interest is paid every three months. Interest will be up to Rs 20 thousand for three months. Interest rates on fixed deposits in the bank have also increased. Opt for non-cumulative fixed deposits and get monthly interest.
Some people may want to ensure monthly income by depositing Rs 5 lakhs at once in the dividend option in Balanced Advantage Funds. Is it better to reinvest the dividend? One can opt for a Systematic Withdrawal Plan as an alternative to Dividend Option in Srikrishna Balanced Advantage Funds. You can arrange to receive as much as you want on a monthly basis. If you think you don't need income, it is better to choose a growth option than a dividend reinvestment.
A small trader may want to invest up to Rs 3 thousand every 15 days. Will this be possible? Choose three diversified equity mutual funds and arrange to invest on dates that suit you. If you invest like this for 10 years, it is possible to get Rs 13,26,220 with an average return of 13 percent.
