Child’s future planning

Child’s future planning

Why do we need to plan for our child's future? All of us have many dreams to fulfill. These dreams become more precious if they are for our loved ones. Especially if they are for our children. We as parents always want to give our children the best, particularly where education is concerned. However, with the increasing cost of higher education, we need to be prepared and assured that when the time comes; our child's dreams become a reality!

Most of these goals have a price attached and unless you plan your finances carefully, you may not be able to provide the required economic support to your child when you need it the most. For example, with the increasing education cost, if you are not financially prepared, your child may miss an opportunity of a lifetime.

Today, a 2-year management course at a premier management institute will cost you nearly Rs. 3,00,000 At an assumed 6% rate of inflation per annum, 20 years later, you would need almost Rs. 9,07,680 to finance your child's MBA degree.

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