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This is how rich invests for their kids!

Check out the whole reel to know!!

This is Day 2 of 10 Smart tips for your Mehnat ki Kamai.
Follow along as next video is on how to invest for your parent’s retirement!!

Here are 4 things to keep in mind before doing this-

1. Math for 12 Lakhs Tax free - Capital gains exemption - [100,000 x 3 = 300,000] + Basic Exemption (New tax regime) [300,000 x 3 = 900,0000]. Do Note tax laws can change so your actual savings might differ, but basic exemption is expected to increase only.

2. After your child turns 18, they will have the control of the investment. So, they can withdraw the money without your permission!

3. If for some reason you redeem the mutual fund before they turn 18, then the capital gains will be clubbed to your income.

4. When the child turns 18, the parent can no longer operate the SIP. The account holder must then manage it themselves. Before this, the AMC will ask for an application, documents, and a KYC letter to change the folio status from ‘minor’ to ‘major’.

Note: We have assumed long term equity returns of 14% actual returns will vary depending upon the economic conditions, market etc.

[Anushka Rathod, finance, investment, kids, education, neet]
#anushkarathod #finance #investment #kids #education #neet