All your daughter's work will be done in a jiffy, start a SIP of ₹1,000 per month, and you will be the owner of ₹14,41,466 at the age of 18
SIP Return: You don't need to always start investing with a large amount. You can start investing for your daughter with a very small amount and increase the investment little by little over time.
SIP Calculator: With the birth of children, the responsibilities of parents increase. On the other hand, if you are the father of a daughter, then as soon as she is born, all the things from education to marriage start going through your mind. Instead of carrying the burden of responsibilities, it is better to start financial planning for the child with her birth, so that future goals can be achieved easily. You don't need to always start investing with a large amount. You can start investing for your child with a very small amount and increase the investment little by little over time. In this way, you can deposit a large amount for your child till she turns 18. Know the method here-
Start SIP from birth.
If you want to save a large amount for your child, then start SIP from birth. Because of being market-linked, you will have some risk in SIP, but long-term SIP can give you a return which is not possible with any other scheme. Experts believe that the average long-term return of Mutual Funds SIP is 12 percent. Sometimes it can be even more than this.
Start with just Rs 1000
If you start a SIP for your child with even Rs 1000 at the time of her birth, you can save more than Rs 14 lakh for her by the age of 18. For this, you just have to invest 10 percent top-up in SIP every year. Top-Up SIP is a facility in which you can add some amount to your regular SIP. You have to increase the current investment amount by 10 percent every year, which is not a very big amount.
This is how you will add Rs 14,41,466
Suppose you started a SIP of Rs 1000 just a month after the birth of your child. Deposit only Rs 1000 for one year. The next year you will have to increase it by 10 percent of Rs 1000, that is, Rs 100. In this way, your SIP will become Rs 1100 next year. Next year, you have to increase 10% of 1100 i.e. 110 rupees, which means your SIP will become 1210 rupees. Similarly, every year you have to add 10% to the existing amount.
You have to run the SIP with this formula for 18 years. In this way, in 18 years, you will invest a total of 5,47,190 rupees. But the interest on this will be 8,94,276 rupees at the rate of 12%. In this way, after 18 years, you will get 14,41,466 rupees from SIP, which you can spend on the necessary expenses of the child. On the other hand, if you get a higher return i.e. up to 15%, then after 18 years you will get 19,44,527 rupees.
Follow our Whatsapp Channel for latest update
