Child will be a millionaire at the age of 21
After all, who is not worried about the future of children? When they grow up, you have to start financial planning much in advance for everything from their education to marriage. Otherwise you will have to worry later. Imagine if you are told about such an investment scheme which can make a child the owner of more than Rs 2 crore at the age of 21.
If you are a newly married couple or have just become parents. Then you can start this investment plan from the birth of the child. In 21 years, it will give you so much return that the child will have an amount of more than Rs 2.1 crore. Let’s understand the calculation
Deposit just Rs 10,000 every month
If you want your child to have more than Rs 2 crore at the age of 21, then you will have to invest Rs 10,000 every month in SIP. With this, you will be able to deposit Rs 25.20 lakh in the name of the child in 21 years. Now let us assume that you get 16 percent return on SIP. Then you will have an amount of Rs 2.06 crore after completion of 21 years.
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Rs 25.20 lakh deposited in the name of the child will earn you Rs 1.81 crore in 21 years. After the child turns 21 years of age, this amount can be used for investment in the child’s education, marriage or business. By the way, let us tell you that ICICI Prudential Multi Asset Fund has given returns of up to 21%.
If you get only 12% interest
Let us assume that you did not get 16% interest and got only 12% interest in SIP. Even then you will not have to regret your investment. In that case also your child will have a return of Rs 88.66 lakh on an investment of Rs 25.20 lakh. He will have a total amount of Rs 1.13 crore.
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