Hello,
Owing to a recent financial windfall, I am now left with close to Rs.1 lakh in hand. This amount, I’d like to completely invest in my newborn child’s future. So what would be the best option to do the same?
I actually do not have savings or investment in any other form, but starting from the new financial year, I’ll be putting at least 5k to 7k every month in some form of mutual funds (probably a SIP). This I say with confidence ‘coz the payment of one EMI is coming to an end this month, but I’ll continue to use the EMI amount as savings funds. I’d need your guidance for this also. Tax savings SIPs should be good enough, right? Or should I also think about some risk free investment options? I am 30 years old now. I do have a term insurance coverage for Rs.50,00,000, and also endowment policies with coverage of Rs.6,00,000.
Hope to get some useful replies and information here. Thanks in advance.