Is child plan better than a fixed deposit?
We all want to accumulate enough wealth to give our children the best education and throw a wonderful bash at their wedding. While the plans are big, sometimes a lot of us rely only on fixed deposits and other risk-free instruments to fulfill our dreams. However, have you ever realised that your fixed deposits may not be sufficient? The cost of education is rising day by day. With rise in inflation, it is hard to ascertain the cost of a management program or a medical degree in 2030. Here is a snapshot of how things might be then: Estimated cost of education after 15 years (under certain assumptions on inflation and historical trends) With the current inflation rate and the trend in hike in fee of elite institutes, it can be very difficult to afford quality education for your kids. Then how does one get the maximum returns from our current investment so that it gives us a huge corpus in a few years to sustain the major expenses in our children's lives. Historical data suggests that...
