After the birth of children, we start worrying about their education from a long time ago. In such a situation, parents start saving some money along with earning to give a better future to their children. It is worth noting that most people prefer to invest their savings in fixed deposit schemes or any safe investment options. However, these areas of investment do not yield as good returns. In such a situation, you can invest your savings by making SIP in mutual funds to get a good return. Over the years, many mutual fund schemes have worked to give good returns. This sector is subject to market risks but the potential of getting returns from here is quite good.
If you want to collect Rs 52.7 lakh by investing Rs 4 thousand. In such a situation, you have to make SIP in a good mutual fund scheme. After that, you have to invest 4 thousand rupees every month for the whole 20 years.
Apart from this, you have to expect that you get an approximate return of 14 percent every year on your investment. In this case, after 20 years, at the time of maturity, you will easily be able to collect a fund of Rs 52.7 lakh.
You can use this money for the higher education of your children. In such a situation, you will not have to face any kind of financial difficulties in providing higher education to your children.
(PC: iStock)
