How to build a Child’s Financial Future?

Big Desire of every Parent

Big desire of every parent is they want their children to be happy, healthy, and prosperous. What is shared among all these desires directly or indirectly is nothing but money. And this article is all about the all-new way of planning for a child’s financial future that can help achieve the many goals you have designed for your child.

In this innovation and competition era, it is extremely important to provide your child with the best guidance and support practically and financially.  And the best way to do so is to have a Child Financial Future Plan.

But the big hurdle is that nobody has enough time to accomplish it properly. Are you Surprised? Yes, it is correct. How? Continue reading till the end.

Nowadays, the new Millennial Generation is getting married very late because they are carrier oriented and marrying on or after 30 years and becoming a parent at 32-35. When a child is born at the parent’s age of 35 years, it is sure that at retirement age (60 years) child might not be stable in the carrier and might need help from the parent for the same.

How to secure Child’s Financial Future without uncertainties? We will discuss this topic today so..

Let us mark Today’s Date on the Calendar.

Let me tell you that mark today’s date on your calendar/diary. Today on this Children’s Day, we are introducing a new way of building a Child’s Financial Future which is going to be a trendsetter for years to come.

When there were no Retirement Solution Schemes, only 2-3 pension schemes were running in 2012, we introduced safe Post Retirement Solutions BLTP-Magic using Mutual Funds, and now it is trending in the MF industry. Even AMCs have also launched various schemes based on the same concept.

I remember the day when AMC introduced the first Retirement Solutions scheme in the industry, the branch manager of AMC told me We have also introduced a scheme like yours BLTP Magic“.

In another instance, RM of another AMC came to me and saidWe have also started a Variable STP facilities just like your BLTP“. Feeling proud to listen to this type of feedback for my Mechanism BLTP.

Traditional Children Plan’s Importance

Till date, we have not done any planning for the Financial Future of the child but all our efforts were about how to fulfil our duties towards the child.

  1. Child Primary Education
  2. Child Higher Education
  3. Child Marriage

All the above goals are not the goals for the child, these are all our duties which we must perform without failure to make the child independent. The child has nothing to do with all this planning, at the end finances comes to us only.

It doesn’t mean that Traditional Child Plans are not worthy and not required. No doubt that we should not forget our responsibilities to the children but all these plans are not contributing in building the child Financial Future.

Then what are the Child’s Financial Future Plans? It is nothing but taking care of when your children need finance and plan accordingly.

Problem of The Millennials Generation Parents.

The point we discussed earlier is that the Millennial Generation at retirement age their Children might not be settled down, which will create a very awkward situation for them. At that particular time, The actual requirement for start-up seed arises for their children after completing their education to start their dream venture. At the same time, they also need to streamline their post-retirement income.

What do you think which career your child should choose? as an Entrepreneur, Industrialist, Professional, Administrative Executive or anything else. Whatever it may be but one thing is sure that almost all the startups need initial investments.

Whatever the child wants to be after higher education, money is at the Centre of all. That is why, A Child’s Financial Future Plan is as important as the Higher Education Plan because if we fail to provide financial support for a dream startup, the child will not be able to reap the fruits of the Higher Education Plan.

If we want to see a successful financial future for the child, support them and fund their dream start-up, otherwise they will go to the Banks for the fund. Help the child to keep debt free.

One golden rule should be learn for becoming wealthy.
Keep your Interests in Earning Interest, not Paying Interest.

Shailesh Sampat

Now the big questions arise are:

  1. What is the correct time to start Child Financial Future Plan?

Remember Retirement Plan and Child Financial Future Plan both are mature almost at the same time for Millennial Parents.

As we know, in compounding, the later we start, the higher we invest. Accordingly, the time of child’s birth is the most preferable time to start the Child’s Financial Future Plan.

  1. How much Corpus is Required to Support My Child?

To answer many such questions in your mind. We will discuss this topic with some more advanced ideas in the future blog. You may share your thoughts in comments or feedback (We value your Comments / Feedback – at end of the Article) section.

Subscribe the Blog right now, if not subscribed till now.

#ChildFinancialFuture, #FinancialFuture, #BLTP-Magic, #ChildrenPlan, #RetirementPlan, #EducationPlan

Please Rate Us

Rating: 4.5 out of 5.

Your feedback motivates us to improve.

Created by bltpindia
Which topic would you prefer for webinar?

You will be redirected after 5 seconds

What is stopping MFDs from becoming limitless Adviser?
If you feel this is useful, forward it to your other contacts and send suggestions to me.

Keep Learning, Keep Investing, and Keep Growing !!!!!!!

Most important note: The objective of this Blog is to share knowledge and info about new ideas/opportunities in Mutual Funds. Neither is this trading website, an analyst website, nor an advisory website. For Mutual Fund Investment success, always do your homework, analysis, and make your own decisions.

Now, You can read all the blog posts in your preferred language using the Google Translator utility on the right panel of the post. Being it a third-party utility, we do not guarantee the quality of the translation.

For commercial collaboration and Mentorship, contact via sampatsn@bltpindia.com or call Mr Shailesh Sampat at 9371521221

Subscribe to your mail-id for getting information about our post publications.

Call Us: 9371521221 / 7020210271 / 9339647457 / 9860238188

Know More: BLTP – The NeXT Gen Investment Strategy

We Value your Comments / Feedback:

What’s your Reaction?
+1
1
+1
0
+1
0

About the Author

You may also like these

%d bloggers like this: