To build a portfolio of investments for your child’s future, you should start early. This way you will have the luxury to pick and choose your investments. However, this is not a simple task. You have to decide on whether you want safety and assurance when it comes to investing for your child’s future, or do you want high-return investments to get a sizeable corpus as, say, you want to send your child abroad for studies, or do you want a bit of both?
Usually, it’s a combination of both that works. But before listing out products, one has to put in place a workable strategy. Here are some suggestions by financial planners, which can act as a guide for you to start or to catch up if you have missed the early bus.
Keeping goals separate
Before you get down to planning for your kids, get the basics right. Buy a term life insurance plan and safeguard your kid’s future from any eventualities. Have a good medical policy for the family. Then you can start planning investments.
