|Like all ambitious parents, you want to give your baby the very best –
right from the time she is born well into the future. But what most
first-time parents do not realize is the financial obligation that comes
attached with it. Beyond the diapers, baby cot, strollers and car seat,
there will be other unforeseen expenses – like day care, private
lessons, escalating school and college tuition fees – which can put a
huge dent in your budget. Which is why, it is imperative to save for
your child’s future. And if you’re a responsible parent, you would start
well in advance and have your financial plan in place.
What Is The Right Time?Starting early gives you an edge and it’s simple to see why. Your investment not only gets that much more time to grow, but you’ll also realize that with accumulating interest, your returns will also be substantial. And of course, it ensures you realize your long-term financial goals with no short falls in your targeted amounts. So don’t wait for your baby to grow into a toddler or get into pre-school. Get started early to maximize your returns.
Where to invest? Thankfully there are a plethora of investment options available today – and you have a wide range to choose from. But since your objective is to build wealth, it is important to choose an investment that has the potential to grow and give you good returns. But before that, it is essential to martial your financials so that you could factor in the time period where your money would be locked.