Did you ever hear about mutual funds for children? There are some ways in the mutual fund market with the help of which you can easily make your child a millionaire, so what would you say? Let us tell you about it in detail in this news today.
The Amazing Mutual Funds
There are many funds in the mutual fund market that have been designed keeping in mind the future of children. If you are about to become a parent, then you can improve your child’s future by investing in these schemes. The biggest thing is that you can invest in these schemes both in lump sum and SIP. That is, 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 your child is one year old today, and you have decided that from this year onwards you will invest 10 thousand rupees a 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 2001. Since then, it has given a return of 20 percent annually. Now, if you had deposited Rs 10,000 a 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 in this scheme for Rs 500 a month.
Similarly, the ICICI Prudential Child Care Fund has also given an annualized return of 15.90 percent. That is, if you invest 10 thousand rupees annually for your child in this scheme, then when your child is 20 years old, Rs 1.22 crore will be deposited in his name. You can invest in this scheme for Rs 100.
Tata Young Citizens Fund also has similar returns. If you invest Rs 10,000 every month in this scheme for 20 years, then after 20 years your child’s name will be deposited at Rs 1.02 crore. Tata Young Citizens Fund was launched in 1995 and has given returns of 13.20 percent annually to its investors.
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