Children education Planning - Suggestions

Q & A Forum › Category: Financial Planning › Children education Planning – Suggestions

Dinesh Kumar asked 6 years ago

Hi Srikanth, I need to know about best guaranteed returns for my kids education. I have one one girl 16 months baby And currently my wife pregnant. So I am planing to invest 5 to 8 years 1.5 laks per year from 9 year onwards I should get returns yearly at least 1lakh above until their age 20. Do we have any best plans for my requirements. If yes please suggest me. it should tax saving also because as of now I'm not using 80c. Thanks, Dinesh

2 Answers

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Sreekanth Staff answered 6 years ago

Dear Dinesh, May I know if you have adequate life insurance cover for self and health cover for self & family?

Dinesh Kumar replied 6 years ago

I am software engineer working in reputed mnc and I am 29 year old, I have term insurance plan 50 lakhs for me and for my parents health insurance I already took long back. I am planing for my children education. I thought I can not work more than 8 to 10 years in IT sector. So I am planing my kids education should not stop at any situations. Please suggest any good plan which will give returns every year.

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Sreekanth Staff answered 6 years ago

Dear Dinesh, Do take health insurance for self+family as well. For Debt side , you may consider PPF / Sukanya Samriddhi Scheme. For Equity side, you may start investing in one large cap index fund (like UTI nifty fund) + One Equity hybrid fund + one Tax saving ELSS Fund for 80c deduction (like Axis Long Term Equity Fund). You may kindly go through below articles :