Every parent wants to leave a good wealth for their child in the future. For this he also works hard with all his heart. But, if we say that there are some ways in the mutual fund market, with the help of which you can easily make your child a millionaire, then what would you say. Let us tell you about it in detail in this news today.
The wonder of mutual funds
There are many such funds in the mutual fund market, which Designed keeping the future of children in mind. If you are going to become a parent or have already become one, then you can improve the future of your child by investing in these schemes. The most important thing is that you can invest in these schemes both in lump sum and SIP. That means, even if you have a lot of money at once, you can still invest in it and if you want to put a little money in it every month, then you can do that too. Let us now explain its mathematics to you.
How will a child become a millionaire
Suppose today your child is one year old and you have decided that this year From now onwards, you will invest Rs 10,000 per month for your child’s future. There are many child fund SIPs in the mutual funds market in which you can invest. Let us explain to you according to HDFC Children’s Gift Fund. HDFC Children’s Gift Fund was launched in the year 2001. Since then it has given annual returns of 20 percent. Now if you had deposited Rs 10,000 per month in this scheme after the birth of your child, it would have become Rs 1.55 crore in 20 years. The biggest thing is that you can invest even Rs 500 per month in this scheme. Similarly, the annual return of ICICI Prudential Child Care Fund has also been 15.90 percent. That means, if you invest Rs 10,000 annually in this scheme for your child, then when your child turns 20, Rs 1.22 crore will be deposited in his name. You can invest even Rs 100 in this scheme.
Tata Young Citizens Fund also has similar returns. If you invest Rs 10,000 every month in this scheme in your child’s name for 20 years, then after 20 years Rs 1.02 crore will be deposited in your child’s name. Let us tell you, Tata Young Citizens Fund was launched in 1995 and has given annual returns of 13.20 percent to its investors. Also read: Multibagger Share: Made a king in 6 months, this multibagger stock gave a return of 1700%
Disclaimer: (The information provided here is being given only for information. It is important to mention here Investing in the market is subject to market risks. Before investing money, ABPLive.com never advises anyone to invest.
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