{"id":"f-993d06a2ab-56d4c57c-4cb0-52ff-a449-dd27df638ff5","title":"Financial Planning for Daughters: 6 tips on how parents can build a secure future | Expert insights","description":"Financial Planning for Daughters: Parents often worry about their children’s future, and when it comes to daughters, many want to ensure they have the financial resources to achieve their dreams, from education to financial independence. Here are six expert-backed tips to help you plan effectively.","timestamp":1772792069,"category":"food_and_health","headline":"Financial Planning for Daughters: 6 tips on how parents can build a secure future | Expert insights","modifiedHeadline":"Secure Daughters' Future: 6 Expert Tips","subCategories":["scid_150d1c32"],"subcategoriesName":["Tips / Kitchen tips"],"region":"IN","bundleMetaData":{"bundleId":"ece1ae3d-908e-48c7-9e53-a4aa910ee4db","bundleTitle":"Grow Your Money","cardData":null},"iabCategoryId":"396","iabCategoryName":"Financial Planning","fcSummary":"planning for a daughter's financial future requires starting early and avoiding emotional investment decisions, as highlighted by experts. parents should diversify investments, considering options like the sukanya samriddhi yojana and mutual fund sips to combat education inflation. determining the investment amount and timeframe is key to building a corpus for education and future independence, ensuring a secure and confident future for their daughters.","summary":"Parents can secure their daughters' futures with early, diversified investments. Experts advise avoiding emotional choices & planning for inflation.","ctaUrl":"https://trends.glance.com/newz/Personal_Finance/IN/en/et-now/f-993d06a2ab-56d4c57c-4cb0-52ff-a449-dd27df638ff5","sourceUrl":"https://www.etnownews.com/personal-finance/financial-planning-for-daughters-6-tips-on-how-parents-can-build-a-secure-future-expert-insights-article-153760798","bannerImage":"https://g-mob.glance-cdn.com/public/fc/image/6GNhmfTR0qO0.webp","content":"

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Financial Planning for Daughters: Planning your daughter's financial future is one of the most important things you can do for your child. Many parents

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want to save for their children's future but make mistakes in their investments. Whether you're planning for your child's education, their marriage, or their overall financial future, proper planning and timely investment are essential. Here are expert insights to guide you towards planning.

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6 tips on how parents can build a secure future | Expert insights

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\n1. According to the financial expert, Harshvardhan Roongta, one of the most common mistakes is starting late. Many parents delay investing until their child is older, missing out on the power of compounding. \n
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\nIf you begin investing when your daughter is born, you have 15-25 years to grow your investments, which can result in a substantial corpus to meet future needs.\n
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\n2. Another common mistake is that of emotional investment decisions. Parents invest in a product just because it is a “Child Plan” or “Children’s Benefit Plan.” It is likely that such a plan is insurance-based and may not give the best returns on investment for the child’s future needs. \n
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\nParents should look for quality in the investment product, such that it has growth and inflation protection potential.\n
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\n3. The other aspect to consider is education inflation. The rise in higher education costs is around 12 per cent. This is much higher than the inflation rate. Investing in products that give a lower return of 6-7 per cent is unlikely to suffice for education costs.\n
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\n4. For effective financial planning, parents should create a diversified portfolio with a mix of debt and equity investments. On the debt side, the Sukanya Samriddhi Yojana (SSY) is a popular option for girl children, providing capital protection and guaranteed returns. For equity exposure, mutual fund SIPs help build long-term wealth and take advantage of market growth.\n
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\n5. To create an education corpus, the first step is to decide on the amount that needs to be invested (for example, Rs 1 Crore) and the time for which the money needs to be invested (for example, 18 years). After this, the amount that needs to be invested on a monthly basis can be determined. \n
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\nFor example, investing Rs 10,000 on a monthly basis with an asset allocation of 80 per cent in equity mutual fund schemes and 20 per cent in the Sukanya Samriddhi Yojana can result in the creation of substantial wealth over time. Since the time period is long, the equity exposure should be high.\n
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\n6. By starting early, choosing the right investment mix, and staying focused on long-term goals, parents can ensure their daughters have the financial resources to achieve their dreams, from education to financial independence. Proper financial planning for daughters today can secure a brighter and more confident tomorrow.\n
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\n \n https://youtu.be/2E0s3cKAlxw?si=tIzuS7FCfb1gpsUT\n \n

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(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)\n

","readDurationInMinutes":"6","author":{"name":"ET Now","logo":"https://glance-mob.glance-cdn.com/public/bubble/jpeg/7aec3c7f-0d5c-4772-be2b-8a2314586551.jpeg"},"ism":false,"analyticsResponses":[{"measurementId":"G-FHL4HKFC2Z","type":"GA"},{"measurementId":"26200502","type":"COMSCORE","partnerName":"glance"}],"pointerSummary":["Experts advise starting early to build a daughter’s financial future, leveraging compounding.","Avoid \"child plans\" & invest wisely; education inflation rises around 12%, outpacing general rates.","Diversify with SSY for safety & MF SIPs for growth; Rs 10k/month can create substantial wealth."],"tags":["FinancialPlanning","DaughtersFuture","ParentingTips","InvestmentStrategies","EducationPlanning","FinancialIndependence","HarshvardhanRoongta","Compounding","ChildPlans","EducationInflation","DiversifiedPortfolio","DebtEquityMix","SukanyaSamriddhiYojana","SSY","MutualFunds","SIPs","LongTermGoals","WealthCreation"],"consent":true,"redirectionEnabled":false}

Financial Planning for Daughters: 6 tips on how parents can build a secure future | Expert insights

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